Pacific Gas & Electric (NYSE:PCG) Cut to "Hold" at Truist Financial

Key Points

• Truist Financial downgraded PG&E from “buy” to “hold” while setting a $17 price target, implying 27.58% upside from the prior close. The broader analyst consensus is also “hold,” with an average target of $18.91.
• Several firms recently lowered their price targets, with targets ranging from $13 to $21, reflecting concerns about wildfire liability, credit quality and uncertainty surrounding regulatory reform and infrastructure spending.
• PG&E beat quarterly earnings expectations, reporting $0.40 in EPS versus a $0.36 consensus, and maintained its 2026 earnings outlook. However, an executive sold 158,250 shares under a pre-arranged trading plan, while institutional investors own 78.56% of the company.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) was downgraded by equities researchers at Truist Financial from a "buy" rating to a "hold" rating in a report issued on Thursday, Briefing.com reports. They presently have a $17.00 price target on the utilities provider's stock. Truist Financial's price target indicates a potential upside of 27.58% from the stock's previous close.

PCG has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their price objective on Pacific Gas & Electric from $25.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday. BMO Capital Markets reissued a "market perform" rating and set a $21.00 price target (down from $28.00) on shares of Pacific Gas & Electric in a research report on Monday. Mizuho restated a "neutral" rating and issued a $16.00 price target (down from $21.00) on shares of Pacific Gas & Electric in a research note on Monday. Jefferies Financial Group set a $13.00 price target on shares of Pacific Gas & Electric in a research note on Tuesday. Finally, Bank of America cut shares of Pacific Gas & Electric from a "buy" rating to a "neutral" rating and cut their price target for the company from $24.00 to $13.00 in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $18.91.

Pacific Gas & Electric Stock Performance

Shares of PCG stock opened at $13.32 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.22 and a quick ratio of 1.15. The company's fifty day moving average price is $17.21 and its two-hundred day moving average price is $17.27. The firm has a market capitalization of $35.71 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.11 and a beta of 0.24. Pacific Gas & Electric has a 12 month low of $12.59 and a 12 month high of $19.16.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The utilities provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%.The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period last year, the firm earned $0.31 earnings per share. The company's revenue was up .1% on a year-over-year basis. Pacific Gas & Electric has set its FY 2026 guidance at 1.640-1.660 EPS. On average, research analysts anticipate that Pacific Gas & Electric will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacific Gas & Electric

In other news, EVP Marlene Santos sold 158,250 shares of the business's stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total value of $2,848,500.00. Following the completion of the sale, the executive vice president directly owned 230,885 shares in the company, valued at approximately $4,155,930. The trade was a 40.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.22% of the company's stock.

Institutional Trading of Pacific Gas & Electric

Several institutional investors have recently added to or reduced their stakes in PCG. Keating Financial Advisory Services Inc. bought a new stake in shares of Pacific Gas & Electric during the 2nd quarter valued at about $28,000. Tobam bought a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $30,000. Modus Advisors LLC acquired a new position in Pacific Gas & Electric during the 4th quarter valued at approximately $36,000. Transamerica Financial Advisors LLC acquired a new position in Pacific Gas & Electric during the 2nd quarter valued at approximately $57,000. Finally, CoreCap Advisors LLC increased its position in Pacific Gas & Electric by 13.1% in the second quarter. CoreCap Advisors LLC now owns 5,843 shares of the utilities provider's stock worth $98,000 after buying an additional 677 shares during the period. Institutional investors own 78.56% of the company's stock.

Key Headlines Impacting Pacific Gas & Electric

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

• Positive Sentiment: PG&E maintained its 2026 earnings outlook and issued 2027 EPS guidance of $1.78–$1.82, broadly in line with the $1.80 analyst consensus. JPMorgan also retained an “overweight” rating, although it reduced its price target to $18 from $25. JPMorgan price-target report
• Positive Sentiment: PG&E, Google and Rewiring America launched SHARE, a virtual power plant program intended to provide discounted home-energy upgrades and connect more than 20,000 customer devices. The initiative could support grid reliability and affordability, though its near-term earnings impact is likely limited. SHARE virtual power plant announcement
• Neutral Sentiment: PG&E plans to invest approximately $11.4 billion in California during 2027 while deferring about $2 billion of previously planned spending. The reduction should lower debt-financing needs, but it also raises concerns about slower growth and the timing of infrastructure investment. Reuters strategic-review report
• Negative Sentiment: The strategic review reflects uncertainty over how PG&E should be organized and financed after lawmakers shelved wildfire-liability legislation. Management warned that reform could reduce borrowing costs, restore investment-grade credit and unlock additional investment, making the lack of legislative progress a major risk. CNBC wildfire-reform report
• Negative Sentiment: Bank of America downgraded PCG to “neutral” and cut its price target to $13 from $24, reinforcing investor concerns about wildfire liability, credit quality and limited visibility. Bank of America downgrade report

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.

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