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

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

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 Down 2.9%

Pacific Gas & Electric stock opened at $12.60 on Friday. The stock has a market capitalization of $33.77 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.04 and a beta of 0.28. Pacific Gas & Electric has a twelve month low of $11.77 and a twelve month high of $19.16. The stock has a 50 day moving average of $14.04 and a two-hundred day 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.

Pacific Gas & Electric Dividend Announcement

The business also recently announced 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 was Wednesday, September 30th. Pacific Gas & Electric’s dividend payout ratio is presently 14.49%.

Insider Buying and Selling at Pacific Gas & Electric

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

Wall Street Analyst Weigh In

PCG has been the subject of several research reports. Bank of America reaffirmed a “neutral” rating and issued a $13.00 target price (down from $24.00) on shares of Pacific Gas & Electric in a research note on Tuesday, September 1st. Jefferies Financial Group set a $13.00 price target on shares of Pacific Gas & Electric in a research note on Tuesday, September 1st. Mizuho cut their target price on Pacific Gas & Electric from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. The Goldman Sachs Group set a $20.00 price objective on shares of Pacific Gas & Electric in a research report on Thursday, October 15th. Finally, Wall Street Zen cut Pacific Gas & Electric from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Pacific Gas & Electric currently has an average rating of “Hold” and an average price target of $16.38.

Pacific Gas & Electric News Summary

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

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.