Oakland, California-based PG&E Corporation (PCG) engages in the sale and delivery of electricity and natural gas to customers in northern and central California through its subsidiary, Pacific Gas and Electric Company. With a market cap of $35.3 billion, the company generates electricity from nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
PCG stock has lagged behind the broader market over the past year, falling 17.1% compared to the S&P 500 Index’s ($SPX) 11.1% surge. Moreover, in 2026, the stock has declined by nearly 18%, underperforming the SPX’s 10.7% rise.
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Focusing on its industry benchmark, the State Street Utilities Select Sector SPDR ETF (XLU) has declined 3.2% over the past year, outperforming the stock. In 2026, XLU has grown 1.7% and has also outpaced the stock.
www.barchart.com On Oct. 22, PCG stock declined 1.3% following the release of its Q3 2026 earnings. The company’s revenue for the quarter totaled $6.2 billion, missing the Street’s forecasts. Moreover, its adjusted EPS also came in at $0.41, falling short of the consensus estimates. PG&E expects full-year earnings in the range of $1.64 to $1.66 per share.
For the current year, which ends in December, analysts expect PCG’s EPS to rise 10% to $1.65 on a diluted basis. The company met or surpassed the consensus estimate in three of the last four quarters, while missing on one occasion.
Among the 18 analysts covering PCG stock, the consensus is a “Moderate Buy.” That’s based on seven “Strong Buy” ratings and 11 “Holds.”
www.barchart.com The configuration has grown more bearish over the past months, as the stock now has seven “Strong Buy” ratings, compared to 13 three months ago.
On Oct. 30, UBS analyst Gregg Orrill maintained a “Hold” rating for PCG stock and raised its price target from $14 to $15.
PCG’s mean price target of $17.23 offers a 30.7% upside compared to the current market price. Its Street-high target of $24 implies a robust 82.1% upside from current levels.
On the date of publication, Aritra Gangopadhyay did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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