PG&E Corporation (PCG)

In the past six months, PG&E Corp.'s share price declined by 20.04% to $16.40 as of October 24, 2025. The company reported strong third-quarter 2025 results, surpassing earnings estimates but missing revenue estimates. PG&E narrowed its 2025 non-GAAP core EPS guidance and initiated 2026 guidance, while reaffirming growth for 2027–2030. A one-off loss impacted net profit margins, and the stock underperformed the S&P 500.

Demand for PG&E's electricity and natural gas exhibits seasonality. Natural gas demand increases during colder temperatures and when hydroelectric generation is lower. Electricity rates are structured with "Summer Season" and "Winter Season" pricing, indicating fluctuations in electricity consumption throughout the year, with higher electricity demand in summer and increased natural gas demand in winter.

PG&E Corporation is an energy holding company based in Oakland, California, focused on electricity and natural gas generation, transmission, and distribution. It operates in the Utility - Electric Power sector, encompassing Electricity, Natural Gas, and Hydroelectric Power. PG&E uses diverse energy sources, including nuclear, hydro, solar, and fossil fuels, and offers energy efficiency services.

PG&E's service area covers approximately 70,000 square miles in northern and central California, serving around 16 million people. Its electric power systems extend to the Western Electricity Coordinating Council, Canadian provinces, and parts of Mexico.

PG&E has shown improvements in its brand reputation over the past year. A study indicated the highest annual increase in brand trust among its US utility peers, likely influenced by wildfire mitigation initiatives. The company has reduced wildfire risks and achieved zero structures destroyed due to reportable fires in high-risk areas for the third consecutive year. PG&E has also buried 1,000 miles of power lines in high fire-risk areas, reducing costs since inception.

Institutional investors hold a significant stake in PG&E Corp., ranging from approximately 91.44% to 96.17% of the shares. Major holders include Vanguard Group Inc., BlackRock Inc., and FMR, LLC. Vanguard Group Inc. holds the largest position. The Fire Victim Trust PGE is also a major individual shareholder. Retail investors hold a smaller percentage of the company's stock.