Pacific Gas & Electric (NYSE:PCG) Stock Price Target Lowered at Wells Fargo & Company

Key Points

• Wells Fargo cut PG&E’s price target from $24 to $14 while maintaining an “equal weight” rating, reflecting only 11.24% potential upside. The broader analyst consensus is “Hold,” with an average target of $16.38.
• PG&E shares fell 3.0% to $12.59, near their one-year low of $11.77. The stock remains below its 50-day and 200-day moving averages.
• The company’s latest quarterly results fell slightly short of expectations: EPS was $0.41 versus $0.42 forecast, while revenue declined 1% year over year to $6.19 billion and missed estimates.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) had its price objective dropped by Wells Fargo & Company from $24.00 to $14.00 in a report issued on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Wells Fargo & Company's price target indicates a potential upside of 11.24% from the company's current price.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets restated 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, August 31st. Barclays lowered their price objective on shares of Pacific Gas & Electric from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Monday, October 12th. JPMorgan Chase & Co. dropped their target price on shares of Pacific Gas & Electric from $18.00 to $17.00 and set an "overweight" rating on the stock in a research note on Monday, October 12th. Wall Street Zen downgraded shares of Pacific Gas & Electric from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, UBS Group reissued a "neutral" rating on shares of Pacific Gas & Electric in a research report on Tuesday, October 13th. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.38.

Pacific Gas & Electric Stock Down 3.0%

PCG stock traded down $0.40 during trading on Friday, reaching $12.59. The stock had a trading volume of 6,030,544 shares, compared to its average volume of 26,696,072. Pacific Gas & Electric has a one year low of $11.77 and a one year high of $19.16. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.90. The company's 50 day moving average is $14.15 and its two-hundred day moving average is $15.99. The company has a market capitalization of $33.73 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 1.05 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). The business had revenue of $6.19 billion during the quarter, compared to analysts' expectations of $6.82 billion. Pacific Gas & Electric had a return on equity of 12.48% and a net margin of 12.25%. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 EPS. Equities research analysts forecast that Pacific Gas & Electric will post 1.65 EPS for the current year.

Insider Activity

In related news, 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 transaction of $89,440.00. Following the sale, the director directly owned 73,530 shares in the company, valued at approximately $1,011,772.80. This represents a 8.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John O. Larsen bought 7,500 shares of the company's stock in a transaction on Wednesday, September 30th. The shares were bought at an average price of $12.20 per share, for a total transaction of $91,500.00. Following the transaction, the director owned 36,685 shares of the company's stock, valued at approximately $447,557. This represents a 25.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.22% of the company's stock.

Institutional Investors Weigh In On Pacific Gas & Electric

Institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC increased its position in shares of Pacific Gas & Electric by 23.6% during the 3rd quarter. Sterling Capital Management LLC now owns 81,861 shares of the utilities provider's stock valued at $1,003,000 after purchasing an additional 15,622 shares during the last quarter. Fox Hill Wealth Management purchased a new position in shares of Pacific Gas & Electric during the 2nd quarter valued at about $1,818,000. Rakuten Investment Management Inc. bought a new stake in Pacific Gas & Electric in the 2nd quarter worth approximately $6,210,000. Glenview Trust Co bought a new stake in Pacific Gas & Electric in the 2nd quarter worth approximately $208,000. Finally, Empowered Funds LLC purchased a new stake in Pacific Gas & Electric in the second quarter worth approximately $8,566,000. Hedge funds and other institutional investors own 78.56% of the company's stock.

Key Stories Impacting Pacific Gas & Electric

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

• Positive Sentiment: PG&E reaffirmed 2026 core EPS guidance of $1.64–$1.66 and 2027 guidance of $1.78–$1.82, supporting confidence that earnings growth remains on track. The company also cited cost reductions and a $2 billion decrease in planned 2027 capital spending. 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 raised its target to $21, indicating analysts see meaningful upside from recent levels despite Morgan Stanley maintaining an Equal Weight rating. HSBC coverage of PG&E
• Positive Sentiment: CEO Patti Poppe said artificial intelligence could improve grid operations, reliability and planning. PG&E also highlighted an expanding data-center pipeline, potentially supporting long-term electricity demand and infrastructure investment. PG&E CEO discusses AI and the grid
• Neutral Sentiment: Management is pursuing wildfire-reform measures and a strategic review, developments that could improve PG&E’s risk profile but also signal uncertainty about future operations and capital allocation. PG&E Q3 2026 earnings call highlights
• Negative Sentiment: Third-quarter core EPS was $0.41, below the $0.42 consensus and down from $0.50 a year earlier. Revenue fell 1% to $6.19 billion, missing estimates by roughly $0.6–$0.7 billion, while GAAP earnings declined to $0.34 per share from $0.37. PG&E Q3 earnings miss estimates
• Negative Sentiment: PG&E estimated that taking over San Francisco’s electric grid could cost $22.5 billion, adding to investors’ concerns about capital requirements and execution risk. Recent insider activity has also been weighted toward selling.

About Pacific Gas & Electric

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.

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