Pacific Gas & Electric Co. (NYSE:PCG) unsurprisingly was downgraded by Morgan Stanley (NYSE:MS), which will be the first of many financial institutions to make that move.
Morgan analyst Greg Gordon said, "If Pacific Gas & Electric is exonerated, the financial impact would likely be small. If it is found to be at fault, the impact could be large."
Shares of PG&E Corp. were lowered from "Equal Weight" to "Overweight" by Gordon.
The energy company plummeted 8.35 percent on Friday, ending the session at $44.21, losing $4.03.
Trading volume on Friday exploded from the 3-month average of 2,653,110, to 30,811,787, according to Yahoo Finance.
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