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

Pacific Gas & Electric (NYSE:PCG) released its quarterly earnings data 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 business 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 11.44% and a return on equity of 11.95%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. 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 Stock Performance

Shares of PCG stock traded down $0.33 during trading on Thursday, reaching $17.79. The company had a trading volume of 8,084,989 shares, compared to its average volume of 20,675,262. The firm’s 50 day simple moving average is $16.83 and its two-hundred day simple moving average is $16.96. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.20 and a quick ratio of 1.13. Pacific Gas & Electric has a one year low of $13.31 and a one year high of $19.16. The company has a market capitalization of $47.66 billion, a PE ratio of 13.78, a PEG ratio of 1.14 and a beta of 0.27.

Pacific Gas & Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

PCG has been the topic of several research reports. Morgan Stanley set a $22.00 price objective on Pacific Gas & Electric in a report on Thursday, May 21st. BMO Capital Markets cut their price target on Pacific Gas & Electric from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wells Fargo & Company reissued an “overweight” rating and issued a $25.00 price objective on shares of Pacific Gas & Electric in a report on Tuesday, April 21st. Weiss Ratings cut shares of Pacific Gas & Electric from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.30.

Key Headlines Impacting Pacific Gas & Electric

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

• Positive Sentiment: Pacific Gas & Electric beat Q2 profit expectations, reporting EPS of $0.40 versus the $0.36 consensus, helped by higher customer bills, lower costs, and stronger power demand tied in part to AI data centers. Utility PG&E beats quarterly profit estimates on higher rates
• Positive Sentiment: The company’s Q2 results also showed EPS above estimates in other coverage, reinforcing the view that earnings are holding up even though revenue came in below forecasts. PG&E (PCG) Beats Q2 Earnings Estimates
• Positive Sentiment: Unusual options activity also points to bullish positioning, with investors buying 53,587 call options, well above recent average call volume.
• Neutral Sentiment: PG&E maintained FY 2026 EPS guidance of $1.64 to $1.66, roughly in line with expectations, which suggests management is not materially changing its outlook.
• Neutral Sentiment: Revenue for the quarter was $5.9 billion, below estimates, so investors may balance the earnings beat against softer top-line performance.
• Negative Sentiment: Ongoing wildfire-safety spending remains a cost headwind and could temper enthusiasm, even with the quarter’s profit beat. Utility PG&E beats quarterly profit estimates on higher rates

Insider Transactions at Pacific Gas & Electric

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its stake in Pacific Gas & Electric by 908.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,618 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 5,962 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Pacific Gas & Electric by 350.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,900 shares of the utilities provider’s stock worth $149,000 after buying an additional 7,700 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Pacific Gas & Electric during the first quarter worth approximately $203,000. Empowered Funds LLC boosted its position in shares of Pacific Gas & Electric by 16.4% in the first quarter. Empowered Funds LLC now owns 46,936 shares of the utilities provider’s stock valued at $806,000 after acquiring an additional 6,601 shares during the period. Finally, Focus Partners Wealth grew its stake in shares of Pacific Gas & Electric by 93.0% in the first quarter. Focus Partners Wealth now owns 83,816 shares of the utilities provider’s stock worth $1,440,000 after acquiring an additional 40,380 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

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.