PG&E (PCG) Stock Overview
Through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 2/6 |
| Dividends | 1/6 |
Rewards
Risk Analysis
PCG Community Fair Values
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Analyst Price Targets
PG&E Corporation Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$16.81 |
| 52 Week High | US$19.16 |
| 52 Week Low | US$12.97 |
| Beta | 0.29 |
| 1 Month Change | -9.33% |
| 3 Month Change | -1.70% |
| 1 Year Change | -0.88% |
| 3 Year Change | -0.30% |
| 5 Year Change | 56.08% |
| Change since IPO | -20.43% |
Recent News & Updates
Narrative Update • Apr 29
PCG: Wildfire Policy Reform And Liability Reduction Will Drive Future Repricing
Narrative Update The analyst price target for PG&E is nudged higher to $22.84 from $22.63, as analysts factor in updated assumptions around revenue growth, profitability, and future P/E multiples, along with a series of recent target raises and a new bullish initiation. Analyst Commentary Recent research on PG&E shows a mix of optimism around risk reduction and earnings potential, alongside ongoing caution about regulatory outcomes and valuation.Narrative Update • Apr 11
PCG: Wildfire Policy Reform And Liability Reduction Will Drive Future Repricing
PG&E's analyst fair value estimate edges up by about $0.10 per share as analysts factor in updated wildfire policy developments, affordability considerations, and expectations that the stock's P/E discount could narrow with continued risk reduction. Analyst Commentary Recent Street research on PG&E points to a mix of optimism and caution, with several firms updating ratings and price targets as wildfire policy, affordability, and relative valuation stay in focus.Narrative Update • Mar 27
PCG: Wildfire Policy Reform And Liability Legislation Will Drive Future Repricing
PG&E's analyst price targets have edged higher, with the average fair value estimate moving from $22.40 to about $22.53 as analysts factor in updated views on wildfire policy, affordability, and potential changes to utility liability in California. Analyst Commentary Recent research shows a mix of optimism and caution around PG&E, with several firms adjusting ratings and targets as they reassess wildfire policy, affordability, and California utility regulation.Recent updates
Narrative Update • Apr 29
PCG: Wildfire Policy Reform And Liability Reduction Will Drive Future Repricing
Narrative Update The analyst price target for PG&E is nudged higher to $22.84 from $22.63, as analysts factor in updated assumptions around revenue growth, profitability, and future P/E multiples, along with a series of recent target raises and a new bullish initiation. Analyst Commentary Recent research on PG&E shows a mix of optimism around risk reduction and earnings potential, alongside ongoing caution about regulatory outcomes and valuation.Narrative Update • Apr 11
PCG: Wildfire Policy Reform And Liability Reduction Will Drive Future Repricing
PG&E's analyst fair value estimate edges up by about $0.10 per share as analysts factor in updated wildfire policy developments, affordability considerations, and expectations that the stock's P/E discount could narrow with continued risk reduction. Analyst Commentary Recent Street research on PG&E points to a mix of optimism and caution, with several firms updating ratings and price targets as wildfire policy, affordability, and relative valuation stay in focus.Narrative Update • Mar 27
PCG: Wildfire Policy Reform And Liability Legislation Will Drive Future Repricing
PG&E's analyst price targets have edged higher, with the average fair value estimate moving from $22.40 to about $22.53 as analysts factor in updated views on wildfire policy, affordability, and potential changes to utility liability in California. Analyst Commentary Recent research shows a mix of optimism and caution around PG&E, with several firms adjusting ratings and targets as they reassess wildfire policy, affordability, and California utility regulation.Narrative Update • Mar 12
PCG: Wildfire Policy Reform And Liability Clarity Will Shape Future Returns
The analyst price target for PG&E has shifted modestly higher to $22.40, with analysts pointing to updated assumptions around wildfire policy risk, affordability, and a slightly higher future P/E multiple as key drivers of the change. Analyst Commentary Recent research has focused on how wildfire policy, affordability, and relative valuation tie into PG&E's updated price targets and ratings.Narrative Update • Feb 26
PCG: Cost Of Capital And Wildfire Mitigation Partnership Will Shape Future Returns
Analysts have nudged their average price target for PG&E to about $22.13 from $21.27. This reflects updated views on fair value, expected profitability and future P/E assumptions following recent Street research.Seeking Alpha • Feb 18
PG&E Starting To Climb Out Of Valuation Pit
Summary Utilities have been performing strongly, with those recovering from wildfire damage claims outperforming the sector. PG&E reaffirmed its positive earnings and growth forecasts. Wildfire safety metrics are improving, but more action is needed by the state, with recommendations due April 1. The convertible preferred PCG.PR.X offers a way to obtain the common shares at a discount. Read the full article on Seeking AlphaNarrative Update • Feb 09
PCG: Cost Of Capital Decision Will Shape Future Returns Outlook
Analysts have raised their average price target for PG&E by US$1, citing updated assumptions around the California cost of capital decision, as well as modest adjustments to expected growth, margins, and future P/E multiples. Analyst Commentary Bullish Takeaways Bullish analysts point to the US$1 price target increase as a sign that updated cost of capital assumptions and modest changes to growth and margins still support their valuation framework for PG&E.Narrative Update • Jan 26
PCG: Cost Of Capital Decision Will Shape Future Earnings Power
Narrative Update Analysts have nudged their PG&E price target higher by about US$1 to roughly US$21.27. They cite updated assumptions for revenue growth, profit margins and future P/E following recent regulatory commentary on California utilities and cost of capital.Narrative Update • Jan 12
PCG: Data Center Demand And Grid Investment Cycle Will Drive Future Upside
PG&E's consensus analyst price target has recently shifted higher into the low $20s, with analysts pointing to sector-wide target resets, TD's view of a significant long term grid investment cycle tied to data center demand, and expectations that PG&E's current valuation does not fully reflect these themes, even as California cost of capital debates continue. Analyst Commentary Recent research highlights a split view on PG&E, with some analysts focused on long term grid investment tied to data center demand and others emphasizing regulatory risk around California's cost of capital.Narrative Update • Dec 26
PCG: Massive Transmission Spend Will Drive Data Center Power Demand Upside
Analysts have nudged their average price target for PG&E up to about $21.20. This reflects a slightly more optimistic view on long term revenue growth from data center driven demand and capital investment opportunities, partially offset by lower allowed returns on equity in California.Analysis Article • Dec 15
PG&E (NYSE:PCG) Is Increasing Its Dividend To $0.05
PG&E Corporation ( NYSE:PCG ) will increase its dividend from last year's comparable payment on the 15th of January to...Narrative Update • Dec 11
PCG: Massive Transmission Spend Will Support Data Center Driven Demand Upswing
Analysts modestly increased their price target for PG&E, citing the stock's persistent valuation discount despite top tier expected EPS and rate base growth, improving wildfire risk profile, and a once in a generation demand uplift from data centers, which together support potential multiple expansion toward the low $20s per share range. Analyst Commentary Bullish analysts highlight that PG&E is still trading at a sizable discount to the utility sector, even as expectations for rate base and EPS growth move toward the top end of the peer group.Narrative Update • Nov 27
PCG: Upcoming $73 Billion Transmission Spend Will Meet Surging Power Demand
PG&E’s analyst price target has increased to $21, up from $19.50. Analysts point to continued strong rate base and earnings growth potential, supported by elevated electricity demand and ongoing regulatory developments.Narrative Update • Nov 12
PCG: Future Power Demand From Data Centers Will Drive New Transmission Investments
PG&E’s average analyst price target has increased notably in recent weeks. Updated forecasts now range between $20 and $25 per share as analysts cite improving growth prospects, demand tailwinds from data centers, and constructive regulatory developments.Narrative Update • Oct 29
Surging Data Center Demand Will Drive Major Utility Infrastructure Upgrades
Analysts have raised PG&E's fair value price target from $20.69 to $21.23 per share, citing the company's positioning amid robust electricity demand, a positive regulatory environment, and ongoing upgrades to utility assets. Analyst Commentary Recent research from multiple firms highlights both positive momentum and lingering concerns for PG&E, shaping a nuanced outlook on the company's share price and future potential.Narrative Update • Oct 15
Robust California Data Centers Will Boost Grid Modernization
PG&E’s analyst fair value target has risen by approximately $0.30 to $20.69, as analysts cite improved profit margins, slightly higher revenue growth, and expectations for multiple expansion. These expectations are driven by ongoing operational improvements and positive regulatory developments.Narrative Update • Sep 19
Robust California Data Centers Will Boost Grid Modernization
PG&E’s consensus price target saw a slight downward revision to $20.39 as, despite legislative progress reducing near-term regulatory risks, ongoing wildfire liability uncertainties and affordability issues continue to temper investor sentiment. Analyst Commentary Improved legislative outlook with the passage and strengthening of wildfire fund-related bills has reduced near-term regulatory uncertainties and relieved concerns about shareholder funding requirements.Analysis Article • Sep 02
PG&E (NYSE:PCG) Use Of Debt Could Be Considered Risky
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • May 15
PG&E (NYSE:PCG) Seems To Be Using A Lot Of Debt
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Seeking Alpha • Apr 28
PG&E: An Unpopular Utility Is Improving Its Portfolio
Summary PG&E is improving its portfolio, cash flow, and shareholder returns despite high rates, wildfire risks, and capital costs. The company targets 9% annual EPS growth and plans to increase its dividend by 2028. A massive 8.7 GW datacenter pipeline will help spread transmission costs and stabilize customer bills. Heavy investment in infrastructure aims to modernize the grid, reduce wildfire risks, and drive long-term shareholder returns. Read the full article on Seeking AlphaSeeking Alpha • Feb 20
PG&E Corporation: Robust Earnings Growth Outlook
Summary PG&E Corporation is transitioning from a low-growth utility to a high-growth company, driven by rising power demand and a 5.5GW data center pipeline. The fully funded $63 billion capex plan through 2028 supports a 10% CAGR in rate base and >9% earnings growth. Despite strong earnings growth prospects, PCG stock trades at a ~42% discount to peers, offering a potential 70% upside if valuation aligns with peers. Wildfire liabilities remain a risk, but active legislative engagement and strong execution on growth plans could mitigate these concerns. Read the full article on Seeking AlphaSeeking Alpha • Feb 06
Investors Are Overly Discounting PG&E's Financial And Legal Protections
Summary There is press speculation that one of the Southern California fires, Eaton, may have been related to transmission equipment owned by SoCal Edison. California passed a bill called AB1054 which protects the state’s investor-owned utilities from these liabilities. PG&E is now trading slightly below 10x 2026 earnings, versus regulated utility peers trading above 15x. We believe PCG investors are overly discounting the financial and legal protections provided by AB 1054. Read the full article on Seeking AlphaSeeking Alpha • Jan 07
PCG.PR.X: 6.00% Mandatory Convertible Preferred Stock IPO From PG&E Corporation
Summary PG&E Corp's new 6.00% Series A Mandatory Convertible Preferred Stock (PCG.PR.X) offers a cumulative annual dividend with a conversion clause based on the common stock price. PCG-X is currently trading at $50.11 with a Yield to Maturity of 5.92% but is overvalued compared to similar duration OTC bonds. PG&E's capital structure shows a poor coverage ratio, indicating a high risk for preferred shareholders if the company's reorganization falters. Conversion evaluation of PCG-X shows that at the moment there is no arbitrage with the common share. Read the full article on Seeking AlphaSeeking Alpha • Dec 11
PG&E's New Convertible Preferred Offers Dual Benefit
Summary PG&E has a new series of 6% preferred stock that converts into common after three years. The conversion terms offer a potential 25% upside. There are more risks than with a conventional preferred. PG&E has been in an uptrend as its wildfire prevention efforts have succeeded for three straight fire seasons. Read the full article on Seeking AlphaSeeking Alpha • Nov 08
PG&E: The Earnings Outlook Still Looks Good, Shares Undervalued
Summary PG&E remains a bargain with a trailing 12-month operating P/E of 14.6, a 23% discount to the sector, and a favorable PEG ratio. Despite wildfire risks and past bankruptcies, PG&E's valuation is compelling, with positive EPS trends and solid revenue growth projections. Technical analysis shows PG&E in an uptrend, targeting $22-$23, supported by a rising 200-day moving average and a bullish breakout. I maintain a buy rating on PG&E, expecting further gains into 2025 due to its undervaluation and strong financial outlook. Read the full article on Seeking AlphaSeeking Alpha • Aug 28
PG&E Corporation: Likely To Benefit From Approvals And Project Expansion Into 2025
Summary PG&E Corporation reported a 13.16% YoY revenue growth in Q2 2024, raising its earnings guidance by 10% into 2025 and 9% annually through 2028. Despite strong financials and regulatory approvals, PG&E offers low shareholder returns compared to rivals, necessitating an increase in dividends to match industry peers. The CPUC's approval of net billing tariffs and higher customer payments will support PG&E's infrastructural plans and increased demand from EVs, AI, and data centers. PG&E's stock is slightly undervalued with a forward P/E ratio of 15.83X, indicating potential upside into 2025, making it a hold. Read the full article on Seeking Alpha
New Narrative • Aug 20
Steady Growth And Robust Infrastructure Investments Mark Bright Future For Utility Giant
PG&E's commitment to significant earnings growth and infrastructure investment supports a strong financial outlook, enhancing investor revenue predictability.Shareholder Returns
| PCG | US Electric Utilities | US Market | |
|---|---|---|---|
| 7D | 2.9% | -2.8% | 1.5% |
| 1Y | -0.9% | 15.7% | 25.5% |
Return vs Industry: PCG underperformed the US Electric Utilities industry which returned 15.7% over the past year.
Return vs Market: PCG underperformed the US Market which returned 26.2% over the past year.
Price Volatility
| PCG volatility | |
|---|---|
| PCG Average Weekly Movement | 3.5% |
| Electric Utilities Industry Average Movement | 3.0% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.0% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: PCG has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: PCG's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1995 | 29,010 | Patti Poppe | www.pgecorp.com |
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cells, and photovoltaic sources. The company owns and operates interconnected transmission lines; electric transmission substations, distribution lines, switching and distribution substations; and natural gas transmission, storage, and distribution systems consisting of distribution pipelines, backbone and local transmission pipelines, and various storage facilities.
PG&E Corporation Fundamentals Summary
| PCG fundamental statistics | |
|---|---|
| Market cap | US$35.70b |
| Earnings (TTM) | US$2.84b |
| Revenue (TTM) | US$25.83b |
13.0x
P/E Ratio1.4x
P/S RatioIs PCG overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| PCG income statement (TTM) | |
|---|---|
| Revenue | US$25.83b |
| Cost of Revenue | US$15.67b |
| Gross Profit | US$10.17b |
| Other Expenses | US$7.32b |
| Earnings | US$2.84b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 1.29 |
| Gross Margin | 39.35% |
| Net Profit Margin | 11.01% |
| Debt/Equity Ratio | 186.4% |
How did PCG perform over the long term?
See historical performance and comparisonDividends
1.2%
Current Dividend Yield12%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/12 09:28 |
| End of Day Share Price | 2026/05/12 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
PG&E Corporation is covered by 28 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jacob Kilstein | Argus Research Company |
| Daniel Ford | Barclays |
| Nicholas Campanella | Barclays |