Utilities Give Back Some Gains as Traders Hedge on Rates -- Utilities Roundup
Shares of power-plant operators gave back some of their recent gains as traders hedged their bets on the outlook for interest rates and electricity prices.
PG&E ticked down, compounding heavy 2017 losses, after analysts at brokerage Goldman Sachs cut their rating on the utility, which faces liabilities associated with the California wildfires. Goldman cited financing issues and the likelihood that earnings expectations will come down further.
-Rob Curran, [email protected]