In a welcome move, PG&E saw its Relative Strength Rating rise from 64 to 71 on Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an 80 or higher RS Rating as they begin their biggest price moves. See if PG&E can continue to rebound and hit that benchmark.
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While now is not an ideal time to jump in since it isn't near a proper buy zone, see if the stock is able to establish and enter a buying range in heavy volume. Utility stocks are often considered a defensive play during turbulent markets. But that is often because of dividends. PG&E stock does not currently offer a dividend.
Earnings growth picked up last quarter from 9% to 33%. But revenue gains fell from 12% to 10%.
The company holds the No. 26 rank among its peers in the Utility-Diversified industry group. Exelon and Alliant Energy are also among the group's highest-rated stocks.
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