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PG&E Corp

PG&E Corp

PCG
$17.32USD↓-1.20%-0.21 today

MARKET CAP

38.1B

P/E (TTM)

10.5x

FWD P/E

10.0x

DAY RANGE

$17 – $18

52W RANGE

$13
$19

AI Summary

Stalk
Buy NowMedium

PCG remains in a Stage 2 advancing phase within a healthy uptrend. After clearing intermediate resistance on strong volume, price is now pulling back into rising 9 and 21 EMAs and the prior breakout zone, offering a favorable entry. We recommend buying now into dynamic support per the Growth at Reasonable Price approach, with attention to acceptance above the EMAs.

  • ↑Q1 2026 core EPS $0.43 (10% YoY); full-year $1.64–$1.66 guidance.
  • ↑Rates down 23% for vulnerable customers since Jan 2024, boosting affordability.
  • ↓Weak profitability factors and sluggish growth metrics hinder consistent earnings.
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The case for & against

Bull & Bear analysis

Bullish

PG&E Corporation (NYSE: PCG) is a leading utility provider in California, engaged in the generation, transmission, and distribution of electricity and natural gas to millions of customers. The company operates within a complex regulatory environment, focusing on safety, reliability, and affordability amidst significant climate challenges, particularly wildfire risks. PG&E is actively investing in infrastructure improvements, including a robust $63 billion capital plan through 2028 aimed at achieving its sustainability goals and supporting the transition to clean energy.

Bull says

  • ↑Q1 2026 core EPS $0.43 (10% YoY); full-year $1.64–$1.66 guidance.
  • ↑Rates down 23% for vulnerable customers since Jan 2024, boosting affordability.
  • ↑9.5 GW data center pipeline reducing bills 1–2% per GW and driving revenue.
  • ↑Methane emissions cut 60% ahead of 2025 target, enhancing sustainability compliance.
  • ↑High earnings yield and strong quality score signal attractive valuation.
  • ↑Positive momentum and solid market cap underpin stock resilience and growth.

Bear says

  • ↓Weak profitability factors and sluggish growth metrics hinder consistent earnings.
  • ↓Elevated leverage risk increases funding costs amid rising rates or capex.
  • ↓High price volatility and notable short interest reflect market skepticism.
  • ↓AB 1054 legislative uncertainty may boost wildfire liability costs to customers.
  • ↓Dividend $0.05/sh may not offset operational and regulatory downside risks.
  • ↓Wildfire mitigation capex $73 bn plan pressures cash without new equity.

Investment themes with PCG

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Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 04-24-2026bullish

Transcript signals

Bull points

  • Core earnings for the quarter were 43 cents, up 10 cents from the first quarter last year, putting us in position to once again deliver on our plan.
  • We continue to see strong demand for customer beneficial investment across our transmission and distribution systems, and we still see at least $5 billion of incremental customer investment opportunity outside the current plan.
  • Our preference today remains making the plan better. by prioritizing bringing in investments which enable new beneficial load and help lower rates for our core customers over time.

Bear points

  • The CPUC is continuing their practice of issuing new bill procurement orders, which have resulted in 22 gigawatts under contract through 2029.
  • if we don't get a minimum outcome that's essential, then obviously we'll have to look at and we will not avoid looking at our entire capital allocation plan, the whole financial plan,
Read full transcript analysis ›