PG&E Corporation (PCG)

In the past six months, Barclays raised its price target for PG&E, and PG&E completed a $2 billion offering of first mortgage bonds. Fitch Ratings upgraded PG&E's long-term default rating to investment grade, while the announcement of a dividend payout ratio target was viewed as disappointing. PG&E announced plans for significant capital spending to strengthen its grid and meet electricity demand, appointed a new Chief People Officer, and saw fluctuations in analyst ratings. Q2 2025 earnings missed forecasts, and the stock experienced a decline due to regulatory uncertainty. Plans to keep rates flat were announced, and a surge in data center demand is anticipated to help lower energy costs. PG&E also secured a term loan and completed the Calistoga Resiliency Center.

PG&E experiences demand seasonality as a utility providing electricity and natural gas. Electricity demand is higher in summer and winter, while natural gas demand is higher in colder seasons. The company's operations and planning are influenced by these patterns, and PG&E manages demand through initiatives like smart charging of electric vehicles.

PG&E Corporation (PCG) is an energy holding company operating in the Utilities sector, focusing on electric power, multi-utilities, and regulated electric industries. The company generates, transmits, and distributes electricity and natural gas, utilizing diverse sources like nuclear, hydroelectric, fossil fuel, fuel cell, and solar. PG&E also offers energy efficiency services and energy management solutions.

PG&E serves approximately 16 million people across a 70,000-square-mile service area in Northern and Central California, stretching from Eureka to Bakersfield and from the Pacific Ocean to the Sierra Nevada. Its electric power systems extend to the Western Electricity Coordinating Council, Canadian provinces, and parts of Mexico.

PG&E's brand reputation has been shaped by efforts to address past issues and adapt to new demands. The company was ranked #208 in "Most Trusted Companies in America (2025)" within the Utilities sector. Recent efforts to improve safety and reduce wildfire risk have been recognized, contributing to Fitch Ratings' upgrade. Customer skepticism persists due to rate increases, and PG&E's ESG Risk Rating was assessed as "High" with a "Severe" controversy level for "Incidents: Customer."

PG&E Corporation's stock ownership is primarily institutional, with major shareholders including Vanguard Group Inc., BlackRock, Inc., and Fmr Llc. The Fire Victim Trust Pge is the largest individual shareholder, holding 7.02% of the company's shares.