Pacific Gas & Electric (NYSE:PCG) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Pacific Gas & Electric (NYSE:PCG) announced its quarterly earnings data on Thursday. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01), Zacks reports. The company had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.82 billion. Pacific Gas & Electric had a net margin of 12.00% and a return on equity of 11.61%. Pacific Gas & Electric’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS.

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

• 2026 and 2027 core EPS guidance was reaffirmed at $1.64–$1.66 and $1.78–$1.82, respectively, with customer capital investment and ongoing O&M savings supporting earnings growth.
• Comprehensive wildfire liability reform has not been enacted, while Fitch moved PG&E’s outlook to negative; management said the resulting financing costs are pressuring customers and forced a $2 billion reduction in the 2027 capital plan.
• PG&E is conducting a strategic review of its financing and corporate structure, including ring-fencing, separations, or asset sales, with the goal of achieving investment-grade ratings and unlocking value; the company expects to announce a path forward by next summer.
• Operational safety metrics continue to improve, including a 74% decline in the weather-normalized ignition rate since 2017 and a fourth consecutive year without a major equipment-related wildfire; data-center load growth also remains an opportunity, with 1.8 gigawatts targeted online by 2030.
• A proposed 2027 general rate case decision would authorize $456 million of interim recovery beginning in January, potentially improving cash flow and reducing financing expense, while PG&E’s proposed undergrounding plan targets 5,000 additional miles over 10 years.

Pacific Gas & Electric Stock Performance

PCG stock traded down $0.38 during mid-day trading on Friday, hitting $12.60. 39,071,658 shares of the company were exchanged, compared to its average volume of 35,094,812. The business has a 50 day simple moving average of $14.04 and a 200-day simple moving average of $15.97. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $33.77 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 1.04 and a beta of 0.28. Pacific Gas & Electric has a 1-year low of $11.77 and a 1-year high of $19.16.

Pacific Gas & Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Pacific Gas & Electric’s dividend payout ratio is currently 14.49%.

Insider Buying and Selling

In other news, Director William Fugate sold 6,500 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $13.76, for a total transaction of $89,440.00. Following the transaction, the director owned 73,530 shares in the company, valued at approximately $1,011,772.80. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John O. Larsen bought 7,500 shares of the stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average price of $12.20 per share, for a total transaction of $91,500.00. Following the purchase, the director owned 36,685 shares of the company’s stock, valued at $447,557. This trade represents a 25.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.22% of the company’s stock.

More Pacific Gas & Electric News

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

• Positive Sentiment: PG&E reaffirmed its outlook, calling for 2026 core EPS of $1.64–$1.66 and 2027 core EPS of $1.78–$1.82. The company also cited progress on cost reductions, a $2 billion reduction in planned 2027 capital spending, and a 5,000-mile undergrounding plan. PG&E Corporation Reports Third Quarter 2026 Results
• Positive Sentiment: HSBC initiated coverage with a Buy rating and a $15.50 price target, while Morgan Stanley reportedly sees potential for strong appreciation. PG&E also highlighted expanding data-center demand and opportunities related to artificial intelligence and grid investment. Morgan Stanley Forecasts Strong Price Appreciation
• Neutral Sentiment: PG&E is responding to a San Francisco proposal to take over the city’s electric grid, placing a $22.5 billion valuation on the assets. The proposal could create a substantial transaction opportunity, but its financial and regulatory outcome remains uncertain. PG&E Puts a $22.5B Price Tag on San Francisco Public Grid Takeover Proposal
• Negative Sentiment: Wells Fargo cut its PCG price target from $24 to $14 and assigned an Equal Weight rating. Although the new target implies upside from the recent trading level, the magnitude of the reduction signals diminished analyst confidence and is likely pressuring the stock.
• Negative Sentiment: Third-quarter results fell short of expectations: core EPS was $0.41 versus a $0.42 consensus, revenue was $6.19 billion versus estimates near $6.82 billion, and earnings declined from $0.50 per share a year earlier. Lower authorized returns and tax impacts also weighed on results. PG&E Q3 Earnings Lag Estimates

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings cut Pacific Gas & Electric from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Truist Financial cut shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating and cut their price target for the company from $21.00 to $17.00 in a research note on Thursday, September 3rd. Bank of America reissued a “neutral” rating and issued a $13.00 price objective (down from $24.00) on shares of Pacific Gas & Electric in a research report on Tuesday, September 1st. Mizuho cut their target price on shares of Pacific Gas & Electric from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, September 3rd. Finally, Barclays reduced their price target on Pacific Gas & Electric from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.38.

Pacific Gas & Electric Company Profile

PG&E Corporation (NYSE: PCG) is the holding company for Pacific Gas and Electric Company, a regulated utility that provides electricity and natural gas delivery services in Northern and Central California. Its operations include maintaining and operating electric transmission and distribution networks, natural gas pipelines, substations, and other infrastructure used to serve residential, commercial, industrial, and agricultural customers.

Pacific Gas and Electric Company serves a broad portion of California, including the San Francisco Bay Area, the Central Valley, and parts of the northern and central regions of the state.