NEW YORK (TheStreet) -- Shares of Pacific Gas and Electric Co. (PCG) are slumping, down 0.88% to $45.93 after the company announced late yesterday that it may have violated California Public Utilities Commission communications rules in email exchanges connected to ongoing deliberations over its penalties for the San Bruno gas pipeline disaster from 2010.
After the CPUC announced Monday that it's dealing with newly uncovered inappropriate email exchanges between PG&E and senior CPUC officials, the utility company dismissed three executives.
PG&E said the messages "may have violated CPUC rules prohibiting certain ex parte communications," which means communication with decision-makers took place without the knowledge of all parties.
Separately, TheStreet Ratings team rates PG&E CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate PG&E CORP (PCG) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: