PG&E Corporation (PCG), headquartered in Oakland, California, sells and delivers electricity and natural gas to its customers. Valued at $33.4 billion by market cap, PCG is one of the largest utility companies in the U.S. that provides electricity and natural gas distribution, electricity generation, procurement, and transmission, and natural gas procurement, transportation, and storage.
Shares of this leading gas and electricity provider have underperformed the broader market over the past year. PCG has declined 6.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 16.1%. In 2026, PCG stock is down 5.6%, compared to the SPX’s 1.9% rise on a YTD basis.
Narrowing the focus, PCG’s underperformance looks less pronounced compared to the Utilities Select Sector SPDR Fund (XLU). The exchange-traded fund has gained about 11.9% over the past year. Moreover, the ETF’s 1.7% gains on a YTD basis outshine the stock’s losses over the same time frame.
PCG’s weak performance stems from challenges by higher wildfire-related claims, net of recoveries and Wildfire Fund expenses.
On Oct. 23, 2025, PCG shares closed down by 1.7% after reporting its Q3 results. Its adjusted EPS of $0.50 topped Wall Street expectations of $0.44. The company’s revenue was $6.3 billion, missing Wall Street forecasts of $6.5 billion. PCG expects full-year adjusted EPS in the range of $1.49 to $1.51.
For the current fiscal year, ended in December 2025, analysts expect PCG’s EPS to grow 10.3% to $1.50 on a diluted basis. The company’s earnings surprise history is mixed. It beat or matched the consensus estimate in two of the last four quarters while missing the forecast on two other occasions.
Among the 17 analysts covering PCG stock, the consensus is a “Strong Buy.” That’s based on 12 “Strong Buy” ratings, and five “Holds.”
This configuration is more bullish than three months ago, with 18 analysts suggesting a “Moderate Buy” rating overall.
On Jan. 22, Barclays PLC (BCS) analyst Nicholas Campanella maintained a “Buy” rating on PCG and set a price target of $21, implying a potential upside of 38.4% from current levels.
The mean price target of $21.39 represents a 41% premium to PCG’s current price levels. The Street-high price target of $24 suggests an ambitious upside potential of 58.2%.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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