Pacific Gas & Electric (NYSE:PCG) Posts Earnings Results, Beats Expectations By $0.04 EPS

Pacific Gas & Electric (NYSE:PCG) issued its earnings results on Thursday. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04, FiscalAI reports. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.61%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share. Pacific Gas & Electric updated its FY 2026 guidance to 1.640-1.660 EPS.

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

• PG&E reiterated 2026 core EPS guidance of $1.64 to $1.66 and said it remains on track for double-digit earnings growth, supported by disciplined execution and cost control.
• The company kept its $73 billion capital plan through 2030 unchanged and said its equity needs are already covered through 2030, with no additional equity financing required under the current plan.
• PG&E highlighted continued progress on safety and reliability, including fourth-year progress with no major fires linked to its equipment, improved reliability year to date, and ongoing benefits from continuous monitoring technology.
• The company’s data center pipeline rose to over 12 gigawatts after its latest cluster study, but management emphasized that only higher-quality, rate-reducing projects will move forward and that pricing and interconnection rules still need clarity.
• Management again warned that if California does not deliver a durable wildfire liability reform framework, PG&E may need to reevaluate capital allocation priorities and long-term investment plans, which could affect future growth and financing assumptions.

Pacific Gas & Electric Trading Up 1.9%

PCG stock opened at $17.88 on Friday. Pacific Gas & Electric has a 52-week low of $13.31 and a 52-week high of $19.16. The company has a quick ratio of 1.13, a current ratio of 1.20 and a debt-to-equity ratio of 1.88. The firm has a market cap of $47.90 billion, a P/E ratio of 12.95, a PEG ratio of 1.14 and a beta of 0.27. The company’s 50-day simple moving average is $16.88 and its 200-day simple moving average is $16.98.

Pacific Gas & Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Pacific Gas & Electric’s dividend payout ratio is presently 15.50%.

Key Stories Impacting Pacific Gas & Electric

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

• Positive Sentiment: PCG beat Q2 earnings estimates, reporting $0.40 per share versus expectations of $0.36-$0.37, helped by lower operating costs and higher customer rates. Utility PG&E beats quarterly profit estimates on higher rates
• Positive Sentiment: Management said data-center electricity demand is rising, with PG&E’s data-center project pipeline more than doubling in Q2, signaling a potential growth driver for future revenue. PG&E’s data center project pipeline more than doubled in Q2
• Positive Sentiment: The company reaffirmed FY2026 EPS guidance of $1.64 to $1.66, which is broadly in line with analyst expectations and supports the view that results remain on track. PG&E Corporation Reports Second Quarter 2026 Results; On Track to Deliver Solid 2026
• Neutral Sentiment: Wells Fargo reiterated its Buy rating on PCG, adding a supportive analyst signal but not changing the core earnings story. Wells Fargo Sticks to Its Buy Rating for PG&E (PCG)
• Neutral Sentiment: Some commentary flagged PG&E’s single-segment reporting and accounting presentation as potentially obscuring risk, which may raise questions for investors but is not an immediate earnings issue. Analyst Warns PG&E’s Single-Segment Reporting Under ASC 280 Masks Key Risks and Distorts Profitability Insights
• Negative Sentiment: Revenue missed estimates at $5.90 billion versus about $6.20 billion expected, and wildfire-safety spending remains a drag on margins and cash flow. PG&E Q2 Earnings Surpass Estimates, Revenues Increase Y/Y

Insider Buying and Selling at Pacific Gas & Electric

In related news, EVP Jason M. Glickman sold 47,264 shares of Pacific Gas & Electric stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $16.35, for a total value of $772,766.40. Following the completion of the transaction, the executive vice president owned 136,433 shares in the company, valued at $2,230,679.55. The trade was a 25.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacific Gas & Electric

Institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors raised its stake in shares of Pacific Gas & Electric by 59.5% during the 4th quarter. Captrust Financial Advisors now owns 468,091 shares of the utilities provider’s stock worth $7,522,000 after buying an additional 174,564 shares during the period. Van Lanschot Kempen Investment Management N.V. increased its holdings in Pacific Gas & Electric by 96.5% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 110,915 shares of the utilities provider’s stock worth $1,782,000 after acquiring an additional 54,474 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in Pacific Gas & Electric by 42.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 9,454 shares of the utilities provider’s stock worth $152,000 after acquiring an additional 2,836 shares in the last quarter. Pinebridge Investments LLC acquired a new position in Pacific Gas & Electric during the fourth quarter worth $28,967,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Pacific Gas & Electric by 350.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,900 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 7,700 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PCG shares. Morgan Stanley set a $22.00 price objective on Pacific Gas & Electric in a research note on Thursday, May 21st. Wall Street Zen downgraded Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $25.00 target price on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Weiss Ratings downgraded Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, Truist Financial lowered their price objective on Pacific Gas & Electric from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.30.

Pacific Gas & Electric Company Profile

Pacific Gas & Electric (NYSE: PCG) is an investor-owned utility holding company whose principal operating subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas service in northern and central California. The company’s core activities include the generation, procurement, transmission and distribution of electric power, as well as the transmission and distribution of natural gas. PG&E serves a broad mix of residential, commercial, and industrial customers across urban and rural communities within its California service territory.

PG&E’s operations encompass utility infrastructure planning and construction, grid operations, customer service and energy procurement.