Pacific Gas & Electric CoNYSE: PCG
Utilities · Multi-Utilities
$16.47
-0.90%
Vol: 10.3M
Research Digest
Friday, May 1, 2026
PG&E reports strong Q1 2026 earnings with $0.43 EPS (30% YoY growth) and reaffirms full-year guidance; company commits $50M to bill assistance programs.
PG&E delivered strong Q1 2026 results, beating expectations with EPS of $0.43 versus $0.39 forecast and revenue of $6.88B versus $6.38B expected. The company reaffirmed full-year guidance amid ongoing wildfire liabilities. UBS maintained a Buy rating with $23 price target, noting PG&E delivers top-tier utility sector EPS growth at 9%. The company announced $50M commitment in 2026 for expanded customer bill assistance programs.
Previous Market Intelligence
13 daysApr 30PG&E Q1 2026 revenue grew 15% YoY to $6.88B; Bank of America and Truist raise price targets to $23Mixed▶
Pacific Gas & Electric reported first-quarter 2026 results with revenue reaching $6.88 billion, reflecting a 15% year-over-year increase driven by higher approved rates and increased electricity demand. Non-GAAP EPS climbed 30.3% to $0.43. The utility reaffirmed full-year 2026 non-GAAP guidance of $1.64-$1.66 per share. Bank of America raised its price target to $23 from $22 and maintained a Buy rating on April 21. Truist Financial initiated coverage with a Buy rating and $23 price target. Despite strong financial performance, shares declined post-earnings as investors focused on rising costs, high capital spending, and wildfire-related risks.
Apr 29PG&E Q1 2026 EPS beats at 43c vs 40c consensus; raises bundled residential rates 23% for vulnerable customersPositive▶
Pacific Gas & Electric reported Q1 2026 GAAP earnings of $0.39 per share (up from $0.28 in Q1 2025) and non-GAAP core earnings of $0.43 (up from $0.33). Revenue increased 15% to $6.9 billion. Company reaffirmed full-year 2026 non-GAAP core EPS guidance at $1.64-$1.66. PG&E lowered bundled residential electric rates 23% for CARE program customers and 13% for others since January 2024. Recent insider sales include CEO Patricia Poppe selling 31,250 shares and EVP Jason Glickman selling 47,264 shares. Analysts expect mean price target of $23 (+41.5% upside), with 13 "Strong Buy" and 5 "Hold" ratings.
Apr 16Jefferies downgraded PG&E to Hold from Buy, citing renewed wildfire liability concerns as stock slides 6.2%.Negative▶
PG&E Corporation faces heightened investor anxiety around California wildfire exposure and regulatory reform. Jefferies cut its price target to $19, below analyst estimates of $22-23. The company's stock has declined significantly amid concerns about liability liabilities and affordability pressures. However, PG&E secured a positive regulatory development with a 20-year license renewal for its Diablo Canyon plant. Current trading around $17-18 per share reflects divided sentiment.
Apr 15Jefferies downgraded PCG from Buy to Hold on April 13, cutting price target to $19 amid weakening wildfire liability reform expectations.Negative▶
PG&E stock slipped 4.48% following Jefferies downgrade on April 13, 2026, due to shrinking confidence in wildfire liability reform and elevated 2026 fire-season risk. PG&E declared a Q1 2026 dividend of $0.05 per share. Q1 2026 earnings to be reported on April 23, 2026.
Apr 14PG&E slides 6.2% amid renewed wildfire liability concerns despite Q1 earnings call scheduled for April 23.Negative▶
PG&E Corporation experienced significant selling pressure (down 6.2%) as investor concerns about California wildfire exposure resurface. Company scheduled Q1 2026 earnings release and conference call for April 23. April climate credits of $46.26 for residential gas customers approved.
Apr 13PG&E declares Q1 dividend and announces spring climate credit distributing $46.26 per residential gas customer.Neutral▶
PG&E declared a Q1 2026 common cash dividend of $0.05 per share payable April 15. Announced April Climate Credit providing $46.26 for residential natural gas customers and $36.18 for eligible small businesses. Q1 earnings call scheduled for April 23. Goldman Sachs and BMO Capital maintain Buy ratings while Jefferies downgraded to Hold. Average analyst Buy rating with $21.72 target (17% upside).
Apr 10PG&E maintains bullish analyst consensus with 13 Buy ratings ahead of Q1 earnings on April 23.Positive▶
PG&E will release Q1 2026 earnings on April 23. The company distributed $46.26 natural gas climate credits to residential customers in April. BMO Capital and Goldman Sachs maintained Buy ratings on April 9. Analyst consensus shows 13 Buy, 4 Hold, 0 Sell ratings with median price target of $23.00.
Apr 9NRC approves PG&E Diablo Canyon 20-year license; JPMorgan raises PT to $24Mixed▶
Pacific Gas & Electric received NRC approval for 20-year license renewal for Diablo Canyon on April 2, 2026, major milestone for operations. JPMorgan raised price target to $24 from $21; Jefferies downgraded to Hold from Buy. Company delivering spring California Climate Credit ($46.26 natural gas) to residential customers. Q1 2026 earnings scheduled April 23.
Apr 8NRC approves Diablo Canyon 20-year license renewal; JPMorgan raises target despite Jefferies downgradeMixed▶
Nuclear Regulatory Commission approved PG&E's 20-year license renewal application for Diablo Canyon on April 2, 2026, a material validation of its nuclear operations. JPMorgan raised price target to $24 from $21 on March 18, while Jefferies downgraded from Buy to Hold on March 23. Mitsubishi UFJ purchased 1.27M shares. Earnings report due April 23. Stock down 0.28% recently at $17.62 but trades above 52-week low of $12.97. Consensus Buy with $22.53 target suggests 28% upside, though regulatory and operational risks persist.
Apr 7PG&E tightens 2026 EPS guide to $1.64-1.66; Q1 earnings April 23.Positive▶
PG&E 2025 GAAP EPS $1.18. Tightened 2026 non-GAAP EPS $1.64-1.66. Targets bill inflation 0-3% vs 2-4%. Q1 2026 April 23, expected $0.38 EPS (+15.2%). JPMorgan PT $24 from $21. Jefferies downgraded to Hold. Strong Buy 12/17.
Apr 6UBS Upgrade and Q1 Earnings Call ScheduledPositive▶
PG&E Corporation (PCG) received an analyst upgrade from UBS, which upgraded the stock to "Buy" from "Neutral" and raised its price target to $23.00. The company has scheduled a conference call for Thursday, April 23, 2026 at 11:00 a.m., likely for Q1 2026 earnings discussion. PCG is navigating significant legal and regulatory challenges while recovering from a proposed $100 million settlement and the recent renewal of Diablo Canyon operating license. Stock is trading at $17.17 with strong analyst sentiment (13 Buy ratings, 0 Sell).
Apr 3PG&E tightens 2026 earnings guidance to $1.64-$1.66 and advances 2 GW of data center projects into final engineering.Positive▶
PG&E tightened 2026 non-GAAP core EPS guidance to $1.64-$1.66 and lowered customer bill inflation targets to 0-3% from 2-4%. Advanced 2 GW of data center projects into final engineering, bringing total to 3.6 GW. Q1 2026 earnings call scheduled April 23. Consensus is Strong Buy (12 of 17 analysts) with mean PT of $22.68 (28.1% upside).
Apr 2PG&E tightened 2026 EPS guidance to $1.64-$1.66 range following strong 2025 earnings of $1.50 per share; Jefferies downgraded to Hold.Neutral▶
PG&E Corporation reported 2025 non-GAAP core EPS of $1.50, up 10% year-over-year, and tightened 2026 EPS guidance to $1.64-$1.66 per share. Revenue reached $24.94 billion in 2025. Pre-market stock price was $17.47, down $0.10 (0.58%). PG&E was downgraded to Hold from Buy at Jefferies on March 23, 2026. The company is navigating wildfire liabilities while focusing on infrastructure investment and utility rate reductions.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| NEENEXTERA | $97.22 | -0.67% | +5.5% | 22.3x | 0.73 | $204.1B |
| SRESEMPRA | $94.87 | -0.26% | -3.0% | 17.2x | 0.68 | $62.1B |
| DDOMINION | $63.83 | -1.04% | +3.7% | 16.9x | 0.66 | $56.7B |
| XELXCEL | $82.67 | -0.34% | +3.2% | 18.3x | 0.44 | $51.8B |
| EDCONSOLIDATED | $110.85 | -0.57% | -2.7% | 17.2x | 0.34 | $41.1B |
| PCGP | $16.47 | -0.90% | -5.9% | 9.2x | 0.34 | $36.6B |
Key Fundamentals
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Price between 50d and 200d. Testing 50d support.