Among the biggest risers on the S&P 500 on Tuesday December 03 was Pacific Gas & Electric Co. ($PCG), popping some 8.4% to a price of $8.52 a share with some 16.16 million shares trading hands.
Starting the day trading at $7.66, Pacific Gas & Electric Co. reached an intraday high of $8.53 and hit intraday lows of $7.57. Shares gained $0.66 apiece by day’s end. Over the last 90 days, the stock’s average daily volume has been n/a of its 529.22 million share total float. Today’s action puts the stock’s 50-day SMA at $n/a and 200-day SMA at $n/a with a 52-week range of $3.55 to $27.38.
PG&E is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.3 million electricity customers and 4.4 million gas customers in 47 of the state’s 58 counties. PG&E is operating under bankruptcy court supervision as of January 2019. In 2004, PG&E sold its unregulated assets as part of its postbankruptcy reorganization.
Pacific Gas & Electric Co. has its corporate headquarters located in San Francisco, CA and employs 24,000 people. Its market cap has now risen to $4.51 billion after today’s trading, its P/E ratio is now n/a, its P/S n/a, P/B 0.44, and P/FCF n/a.
The Dow Jones Industrial Average (DJIA) is the most visible stock index in the United States, but that doesn’t make it the best. In fact, the industry standard for market watchers and institutional investors in gauging portfolio performance is the S&P 500.
The DJIA relies on just 30 stocks as a sample of large- and mega-cap firms, dwarfed by the 500 contained in the S&P 500, and it also weights its returns using an outdated and flawed price-weighting method. The S&P 500’s weighting is based on market cap, making it a much better representation of actual market performance for large- and mega-cap stocks.