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

Key Points

• PG&E missed quarterly expectations: Adjusted EPS was $0.41 versus the $0.42 consensus estimate and declined from $0.50 a year earlier. Revenue fell 1% year over year to $6.188 billion, also below estimates.
• Management reaffirmed its outlook for 2026 core EPS of $1.64–$1.66 and 2027 EPS of $1.78–$1.82, while targeting 2%–4% non-fuel operating-cost reductions and implementing a $2 billion reduction in its 2027 capital plan.
• PG&E’s shares traded near $12.87, well below their 52-week high of $19.16, while the company maintained a quarterly dividend of $0.05, equivalent to a 1.6% annualized yield. Analysts’ average rating was Hold, with an average price target of $17.21.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) released its quarterly earnings results on Thursday. The utilities provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01), Zacks reports. Pacific Gas & Electric had a net margin of 12.25% and a return on equity of 12.48%. The business's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share.

Pacific Gas & Electric Price Performance

PCG stock traded down $0.28 during midday trading on Thursday, hitting $12.87. 6,959,171 shares of the stock were exchanged, compared to its average volume of 26,540,395. The stock has a market cap of $34.48 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 1.06 and a beta of 0.28. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.15 and a current ratio of 1.22. Pacific Gas & Electric has a fifty-two week low of $11.77 and a fifty-two week high of $19.16. The stock's 50-day moving average price is $14.24 and its 200-day moving average price is $16.03.

Pacific Gas & Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.05 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.20 annualized dividend and a dividend yield of 1.6%. Pacific Gas & Electric's dividend payout ratio (DPR) is 14.49%.

More Pacific Gas & Electric News

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

• Positive Sentiment: Management reaffirmed 2026 non-GAAP core EPS guidance of $1.64–$1.66 and 2027 guidance of $1.78–$1.82. PG&E also said it remains on track for 2%–4% non-fuel operating-cost reductions and is implementing a previously announced $2 billion reduction in its 2027 capital plan. PG&E Reports $776 Million Third-Quarter Net Income and Reaffirms 2026 Guidance
• Positive Sentiment: HSBC initiated coverage with a Buy rating and a $15.50 price target, while Morgan Stanley raised its target to $21 but retained an Equal Weight rating. These targets imply substantial potential upside from recent trading levels.
• Positive Sentiment: PG&E reported $1.06 in GAAP EPS for the first nine months of 2026, up from $0.89 in the comparable period last year, and continues work on a 5,000-mile undergrounding plan that could support long-term grid investment. PG&E Corporation Reports Third Quarter 2026 Results
• Neutral Sentiment: PG&E estimated that a potential government takeover of its San Francisco electric grid could cost approximately $22.5 billion, including $8.6 billion in severance damages and physical-separation costs. The estimate highlights the scale of the issue, but the proposal remains subject to California regulatory review. PG&E Submits Testimony on San Francisco Grid Takeover Cost
• Negative Sentiment: Third-quarter adjusted earnings were $0.41 per share, below the $0.42 consensus estimate and down from $0.50 a year earlier. Revenue fell 1% year over year to $6.188 billion, also missing estimates, while GAAP earnings available to common shareholders declined to $0.34 per share from $0.37. PG&E Misses Q3 Earnings and Revenue Estimates

Insider Activity

In other Pacific Gas & Electric news, Director John Larsen acquired 7,500 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were purchased at an average cost of $12.20 per share, with a total value of $91,500.00. Following the purchase, the director owned 36,685 shares in the company, valued at approximately $447,557. The trade was a 25.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William Fugate sold 6,500 shares of the firm's stock in a transaction dated Friday, September 4th. The shares were 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 of the company's stock, valued at $1,011,772.80. This trade represents a 8.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group reiterated a "neutral" rating on shares of Pacific Gas & Electric in a research note on Tuesday, October 13th. Morgan Stanley upped their price objective on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday. Barclays decreased their price objective on Pacific Gas & Electric from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Monday, October 12th. Bank of America reiterated 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. Finally, Jefferies Financial Group set a $13.00 target price on Pacific Gas & Electric in a report on Tuesday, September 1st. Four analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $17.21.

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.

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