Utilities Give Back Some Gains as Traders Hedge on Rates -- Utilities Roundup

Features Dow Jones Newswires

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.

Continue Reading Below

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, rob.curran@dowjones.com

(END) Dow Jones Newswires

January 02, 2018 16:43 ET (21:43 GMT)