Sempra Energy Set to Join Dow Jones Utility Average, Replacing PG&E Corp.
January 15 2019 - 7:00PM
Dow Jones News
By Stephen Nakrosis
Sempra Energy (SRE) will replace PG&E Corp. (PCG) on the Dow
Jones Utility Average prior to the open of trading on Friday,
January 18.
PG&E, California's largest utility, said it was preparing to
file for Chapter 11 protection before the end of the month. It
faces more than $30 billion in potential liability costs related to
its role in sparking wildfires in recent years. S&P Dow Jones
Indicies said Tuesday the company is no longer appropriate for the
Dow Jones Utility Average.
Sempra Energy, based in San Diego, invests in, develops, and
operates energy infrastructure and also provides electric and gas
services.
The Dow Jones Utility Average is a 15-stock, price-weighted
index which measures the performance of U.S. companies in the
utilities sector.
The level of the index won't be disrupted by this change,
S&P Dow Jones Indices said.
Sempra Energy shares closed Tuesday's trading up 0.71%, at
$112.55. They were quiet after hours
Shares of PG&E lost more than 50% on Monday, and continued
declining Tuesday, finishing the trading day down 17.54% at $96.91.
In the after-hours markets, PG&E shares were down 6.80% to
$6.44.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 15, 2019 18:45 ET (23:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Sempra (NYSE:SRE)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sempra (NYSE:SRE)
Historical Stock Chart
From Apr 2023 to Apr 2024
