Pacific Gas & Electric (NYSE:PCG) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Pacific Gas & Electric (NYSE:PCG) released its quarterly earnings results on Thursday. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.01), Zacks reports. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%. The business had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period in the previous year, the company posted $0.50 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year.

Here are the key takeaways from Pacific Gas & Electric’s conference call:

• 2026 and 2027 core EPS guidance was reaffirmed at $1.64–$1.66 and $1.78–$1.82, respectively, with customer capital investment and ongoing O&M savings supporting earnings growth.
• Comprehensive wildfire liability reform has not been enacted, while Fitch moved PG&E’s outlook to negative; management said the resulting financing costs are pressuring customers and forced a $2 billion reduction in the 2027 capital plan.
• PG&E is conducting a strategic review of its financing and corporate structure, including ring-fencing, separations, or asset sales, with the goal of achieving investment-grade ratings and unlocking value; the company expects to announce a path forward by next summer.
• Operational safety metrics continue to improve, including a 74% decline in the weather-normalized ignition rate since 2017 and a fourth consecutive year without a major equipment-related wildfire; data-center load growth also remains an opportunity, with 1.8 gigawatts targeted online by 2030.
• A proposed 2027 general rate case decision would authorize $456 million of interim recovery beginning in January, potentially improving cash flow and reducing financing expense, while PG&E’s proposed undergrounding plan targets 5,000 additional miles over 10 years.

Pacific Gas & Electric Stock Down 1.1%

Shares of PCG stock opened at $13.00 on Friday. Pacific Gas & Electric has a 1 year low of $11.77 and a 1 year high of $19.16. The stock has a market cap of $34.84 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 1.05 and a beta of 0.28. The business’s fifty day moving average is $14.15 and its 200-day moving average is $15.99. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22.

Pacific Gas & Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Pacific Gas & Electric’s dividend payout ratio (DPR) is presently 14.49%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PCG shares. JPMorgan Chase & Co. cut their price objective on shares of Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Morgan Stanley upped their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday. Truist Financial lowered shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating and decreased their target price for the company from $21.00 to $17.00 in a research report on Thursday, September 3rd. HSBC assumed coverage on shares of Pacific Gas & Electric in a research note on Thursday. They set a “buy” rating and a $15.50 target price on the stock. Finally, Wells Fargo & Company cut shares of Pacific Gas & Electric from an “overweight” rating to a “buy” rating in a research note on Monday, August 31st. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.21.

Insiders Place Their Bets

In other news, Director William Fugate sold 6,500 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $13.76, for a total value of $89,440.00. Following the completion of the sale, the director owned 73,530 shares in the company, valued at $1,011,772.80. This represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John O. Larsen bought 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The shares were purchased at an average cost of $12.20 per share, with a total value of $91,500.00. Following the purchase, the director directly owned 36,685 shares of the company’s stock, valued at approximately $447,557. This represents a 25.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.22% of the stock is currently owned by insiders.

Key Pacific Gas & Electric News

Here are the key news stories impacting Pacific Gas & Electric this week:

• Positive Sentiment: PG&E reaffirmed its 2026 core EPS guidance of $1.64–$1.66 and 2027 guidance of $1.78–$1.82, helping support investor confidence in its earnings trajectory. The company also said it remains on track for operating-cost reductions and is implementing a previously announced $2 billion reduction to its 2027 capital plan. PG&E Corporation Reports Third Quarter 2026 Results
• Positive Sentiment: Analyst support remains a potential catalyst. HSBC initiated coverage with a Buy rating and a $15.50 price target, while Morgan Stanley raised its target to $21, although it retained an Equal Weight rating. A separate Morgan Stanley report cited potential for significant appreciation. HSBC coverage of PG&E
• Positive Sentiment: CEO Patti Poppe described artificial intelligence as highly beneficial for the electric grid. PG&E is also expanding its data-center customer pipeline, which could provide long-term electricity-demand growth. PG&E CEO on AI and the grid
• Neutral Sentiment: PG&E is pursuing wildfire-safety and regulatory initiatives, including a 5,000-mile undergrounding plan and efforts to advance wildfire reform. The company also has a strategic review underway, but the timing and financial impact remain uncertain. PG&E Q3 earnings call highlights
• Negative Sentiment: Third-quarter core EPS was $0.41, narrowly below the $0.42 consensus estimate and down from $0.50 a year earlier. Revenue fell 1% year over year to $6.19 billion, well below analyst expectations, while GAAP earnings also declined. Lower authorized returns and tax impacts contributed to the earnings pressure. PG&E Q3 earnings miss
• Negative Sentiment: PG&E estimates that a potential government takeover of its San Francisco grid could cost approximately $22.5 billion, including $8.6 billion in severance damages and physical separation costs. The dispute adds regulatory and valuation risk. PG&E San Francisco grid takeover filing

Pacific Gas & Electric Company Profile

PG&E Corporation (NYSE: PCG) is the holding company for Pacific Gas and Electric Company, a regulated utility that provides electricity and natural gas delivery services in Northern and Central California. Its operations include maintaining and operating electric transmission and distribution networks, natural gas pipelines, substations, and other infrastructure used to serve residential, commercial, industrial, and agricultural customers.

Pacific Gas and Electric Company serves a broad portion of California, including the San Francisco Bay Area, the Central Valley, and parts of the northern and central regions of the state.