$PCG

PG&E (PCG) stock fell 20.1% in the year to October 26, 2026, underperforming the S&P 500. Management reaffirmed a 9% EPS growth forecast for 2027. The company proposed a $16.6B plan to underground 5,000 miles of power lines from 2028 to 2037, pending approval. PG&E's stock trades at 9.2x earnings, significantly below the S&P 500's 22.9x. The company faces financing challenges and regulatory concerns.

PG&E Corp. CEO Patti Poppe discussed potential spin-off or sale of the company's gas utility to lower borrowing costs and attract capital. The company reported Q3 profits of $776 million on revenues of $6.2 billion. PG&E is reviewing strategic options, including changes to its legal structure, with decisions expected by next summer. Progress in California's wildfire liability reforms could accelerate the timeline.

PG&E warned 25,000 customers of potential six-month delays in electricity service and postponed $2 billion in investments, including renewable energy projects. Consumer Watchdog and Every Fire Survivor's Network urged California legislature to compel CPUC to enforce PG&E's duty to serve customers and prevent asset transfers to its holding company. They demanded a full accounting of delayed projects and sworn testimony from executives.

BMO Capital maintained its Market Perform rating for PG&E (PCG) but raised its price target to $22.00 from $21.00. GuruFocus values PCG at $16.99, suggesting a 24.5% undervaluation. The company has a GF Score of 70/100, indicating moderate financial health. Insider activity shows slight net buying.

PG&E CEO Patti Poppe stated AI could attract investment to California's grid, while rising electricity demand from data centers, EVs, and appliances could fund infrastructure upgrades. She emphasized data centers should cover their grid costs. PG&E has 12 GW of data center applications, with 174 MW energized since 2024. The company estimates each additional GW could lower bills by 1% with proper pricing. Data centers accounted for 2% of peak demand in 2026, projected to rise to 9% by 2040.

PG&E CEO Patti Poppe called for wildfire policy reform to improve credit ratings and manage financial risks during a Q3 earnings call. Fitch Ratings downgraded PG&E's outlook to negative, citing high wildfire risk. PG&E's stock fell 20% after a bill without liability protections advanced. The company cut $2B from its 2027 capital plan, reducing it to $11.4B. PG&E's data center pipeline remains at 12.87 GW.

BMO Capital raised its price target for PG&E from $21 to $22. The company's stock has a 5-day change of $12.98 USD, a 1st Jan change of -1.29%, and a year-to-date change of -19.23%.

Analysts updated recommendations for several companies. Jefferies upgraded Msc Industrial to buy, raising its target to $135. Landesbank Baden-Württemberg downgraded Qiagen to hold, lifting its target to €46.50. JP Morgan initiated coverage on Skydance with a neutral rating and $9 target. Other notable changes include target adjustments for Carpenter Tech, Danaher, Dutch Bros, Enphase, Medpace, Moderna, Molina, PG&E, ServiceNow, Thermo Fisher, Ttm, and Western Digital.

PG&E Corp. may spin off or sell its natural gas business if California does not reform wildfire liability rules, according to CEO Patti Poppe. The company has cut its 2027 capital budget by $2 billion due to high financing costs, citing wildfire-related risks. PG&E expects to announce its strategic plan by next summer. Wildfire costs have significantly impacted the company's borrowing costs and customer rates, with shares recently volatile due to legislative uncertainty.

Pacific Gas & Electric Co. (PCG) stock fell 2.78% on October 22, 2026, after UBS cut its price target to $14 from $19 and downgraded the stock to Neutral. The move follows PCG's removal of long-term EPS guidance and strategic review, with UBS citing wildfire liability concerns. PCG's stock has been trading between $12.17 and $13.33 recently, with high debt levels and regulatory risks weighing on sentiment.