Pacific Gas & Electric (NYSE:PCG) Issues Earnings Results

Key Points

• Pacific Gas & Electric reported quarterly EPS of $0.40, beating the consensus estimate of $0.36 and improving from $0.31 a year ago. Revenue came in at $5.9 billion, below expectations of $6.2 billion.
• The company raised its FY 2026 EPS guidance to $1.64-$1.66, signaling management’s outlook remains steady despite softer-than-expected revenue.
• The stock traded lower after the report, and the article also noted a recent insider sale by EVP Jason M. Glickman, while institutional investors continue to hold a large majority of shares.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) released its earnings results on Thursday. The utilities provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04, FiscalAI reports. Pacific Gas & Electric had a return on equity of 11.95% and a net margin of 11.44%.The business 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 company earned $0.31 earnings per share. The business's revenue for the quarter was up .1% compared to the same quarter last year. Pacific Gas & Electric updated its FY 2026 guidance to 1.640-1.660 EPS.

Pacific Gas & Electric Price Performance

PCG stock traded down $0.38 during mid-day trading on Thursday, reaching $17.73. The company's stock had a trading volume of 7,824,177 shares, compared to its average volume of 20,670,355. The company has a current ratio of 1.20, a quick ratio of 1.13 and a debt-to-equity ratio of 1.88. The company's 50 day moving average is $16.83 and its two-hundred day moving average is $16.96. Pacific Gas & Electric has a fifty-two week low of $13.31 and a fifty-two week high of $19.16. The stock has a market cap of $47.53 billion, a PE ratio of 13.79, a P/E/G ratio of 1.14 and a beta of 0.27.

Pacific Gas & Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Pacific Gas & Electric's dividend payout ratio is currently 15.50%.

Insider Activity

In related 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 value of $772,766.40. Following the completion of the sale, the executive vice president owned 136,433 shares of the company's stock, valued at approximately $2,230,679.55. This trade represents a 25.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors boosted its holdings in Pacific Gas & Electric by 59.5% in the 4th quarter. Captrust Financial Advisors now owns 468,091 shares of the utilities provider's stock valued at $7,522,000 after purchasing an additional 174,564 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. grew its position in Pacific Gas & Electric by 96.5% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 110,915 shares of the utilities provider's stock worth $1,782,000 after acquiring an additional 54,474 shares during the period. Brown Brothers Harriman & Co. raised its position in Pacific Gas & Electric by 42.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 9,454 shares of the utilities provider's stock valued at $152,000 after purchasing an additional 2,836 shares during the period. Pinebridge Investments LLC acquired a new position in shares of Pacific Gas & Electric in the 4th quarter valued at $28,967,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Pacific Gas & Electric by 350.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,900 shares of the utilities provider's stock worth $149,000 after purchasing an additional 7,700 shares during the period. Institutional investors and hedge funds 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: 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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Pacific Gas & Electric from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Friday, May 15th. Weiss Ratings lowered Pacific Gas & Electric from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. Wall Street Zen upgraded Pacific Gas & Electric from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Morgan Stanley set a $22.00 target price on Pacific Gas & Electric in a research report on Thursday, May 21st. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $25.00 price target on shares of Pacific Gas & Electric in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.30.

About Pacific Gas & Electric

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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