PG&E Corporation (PCG)

In the past six months, PG&E's stock price has fluctuated. As of January 8, 2026, the share price was $15.72, an 8.44% decline from January 10, 2025. Over the last six months, the stock has seen a 19.71% gain. More recently, the stock declined by 2.2% over the last 7 days but gained 4.9% over the last 30 days, with a 3.4% decline year-to-date and a 17.7% decline over the past year. Headlines have focused on the company's role as a major California utility, regulatory oversight, and its progress on long-term risk reduction and infrastructure work. A notable event was a $100 million shareholder settlement reached in January 2026 related to the 2017 and 2018 California wildfires.

Demand for PG&E's products and services exhibits seasonality. Natural gas consumption typically spikes in the winter months due to increased heating needs. Warmer weather in the summer leads to increased demand for electricity for air conditioning, which can increase demand for natural gas used in electricity generation. Electricity demand also experiences daily cycles, with natural gas-fired electricity generation decreasing during midday hours when solar power generation is at its peak. The ongoing electrification of heating applications is anticipated to further increase electricity demand during winter.

PG&E Corporation is a holding company with its primary subsidiary being Pacific Gas and Electric Company, a regulated utility that sells and delivers electricity and natural gas. It operates in the Utilities sector, specifically in the Electric Utilities and Regulated Electric industries. PG&E generates electricity from various sources, including nuclear, hydroelectric, fossil fuel-fired, fuel cell, and solar technologies. Its major products are the generation, transmission, and distribution of electric power, as well as the transmission and distribution of natural gas.

PG&E Corporation primarily serves northern and central California, providing natural gas and electricity to 5.2 million households across 47 of the state's 58 counties. The company's electric power systems are interconnected with the Western Electricity Coordinating Council, which includes parts of Mexico and the Canadian provinces of Alberta and British Columbia.

PG&E's brand reputation has been significantly affected by its history of involvement in California wildfires and past safety issues. The company filed for Chapter 11 bankruptcy in 2019 due to extensive wildfire liability claims, emerging in 2020. PG&E has been found guilty of criminal negligence in numerous cases involving fires, including the 2018 Camp Fire and the 2010 San Bruno pipeline explosion. There has been a cultural shift within the company from an engineering-focused utility to one that was more financially motivated, particularly after its first bankruptcy in 2001, which some argue came at the expense of safety investments. The company continues to invest in modernizing its networks, enhancing public safety, and adapting to environmental requirements.

PG&E Corporation's ownership is predominantly institutional, with institutional investors holding approximately 91.48% of the stock. Major institutional shareholders include Vanguard Group Inc., BlackRock, Inc., Massachusetts Financial Services Co, Fmr Llc, State Street Corp, Capital Research Global Investors, Geode Capital Management, Llc, and Third Point LLC. The largest individual shareholder is the Fire Victim Trust Pge, owning 8.54% of the company's shares.