PG&E Analysis (March 2026) | Price Development & Price Target

PG&E

NYSE:PCG

$ 17,17

$-0,20 (-1,15%)

17,17 $

$-0,20 (-1,15%)

End-of-day quote: 03/27/2026

PG&E Stock Value

The analyst rating for PG&E is currently Outperform.

Outperform

PG&E Company Info

EPS Growth 5Y

-1,41%

Market Cap

$37,74 B

Long-Term Debt

$53,57 B

Short Interest

1,84%

Annual earnings

N/A

Dividend

$0,20

Dividend Yield

1,15%

Founded

1905

Industry

Utilities

Country

United States

ISIN Number

US69331C1080

Website

http://www.pgecorp.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$23,00

33.95%

Last Update: 03/28/2026

Analysts: 15

Highest Price Target $27,00

Average Price Target $23,00

Lowest Price Target $19,00

In the last five quarters, PG&E’s Price Target has risen from $19,47 to $20,16 - a 3,54% increase. Fourteen analysts predict that PG&E’s share price will increase in the coming year, reaching $23,00. This would represent an increase of 33,95%.

Top growth stocks in the utilities sector (5Y.)

What does PG&E do?

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in Northern and Central California. Electric Utility Operations The company generates electricity and provides electric transmission and distribution services throughout its service area in northern and central California to residential, commercial, industrial, and agricultural customers. The company provides electricity, transmission, and dis...

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in Northern and Central California.

Electric Utility Operations

The company generates electricity and provides electric transmission and distribution services throughout its service area in northern and central California to residential, commercial, industrial, and agricultural customers. The company provides electricity, transmission, and distribution services in its service area. Customers also can obtain electricity from alternative providers, such as municipalities or CCAs, as well as from self-generation resources, such as rooftop solar installations.

Electricity Transmission

As of December 31, 2024, the company owned approximately 18,000 circuit miles of interconnected transmission lines operating at voltages ranging from 60 kV to 500 kV. The company also operated 33 electric transmission substations with a capacity of approximately 67,000 MVA. The company’s electric transmission system is interconnected with electric power systems in the Western Electricity Coordinating Council, which includes many western states, the Canadian provinces of Alberta and British Columbia, and parts of Mexico.

Electricity Distribution

The company’s electric distribution network consists of approximately 108,000 circuit miles of distribution lines (of which, as of December 31, 2024, approximately 27% are underground and approximately 73% are overhead), 59 transmission and distribution substations, and 603 distribution substations with a capacity of approximately 33,000 MVA. The company’s distribution network interconnects with its transmission system, primarily at switching and distribution substations, where equipment reduces the high-voltage transmission voltages to lower voltages, suitable for distribution to the company’s customers.

These distribution substations serve as the central hubs for the company’s electric distribution network. Emanating from each substation are primary and secondary distribution lines connected to local transformers and switching equipment that link distribution lines and provide delivery to customers. In some cases, third parties, such as municipal and other utilities, who generate or procure their own power rely upon the company’s distribution facilities to deliver their power to them, so that they are able to resell the electricity. The company operates electric distribution control center facilities in Concord, Rocklin, and Fresno, California; these control centers form a key part of the company’s efforts to create a smarter, more resilient grid.

Natural Gas Utility Operations

The company provides natural gas transportation services to core customers (i.e., small commercial and residential customers) and to non-core customers (i.e., industrial, large commercial, and natural gas-fired electric generation facilities) that are connected to its gas system in its service area. Core customers can purchase natural gas procurement service (i.e., natural gas supply) from either the company or non-utility third-party gas procurement service providers (referred to as core transport agents). When core customers purchase gas supply from a core transport agent, the company continues to provide gas delivery, metering, and billing services to customers. When the company provides both transportation and procurement services, it refers to the combined service as bundled natural gas service. More than 97% of core customers, representing approximately 85% of the annual core market demand, receive bundled natural gas service from the company.

The company offers backbone gas transmission, gas delivery (local transmission and distribution), and gas storage services as separate and distinct services to its non-core customers. Access to the company’s backbone gas transmission system is available for all natural gas marketers and shippers, as well as non-core customers. The company also delivers gas to off-system customers (i.e., outside of its service area) and to third-party natural gas storage customers.

Natural Gas Supplies

The company can receive natural gas from all the major natural gas basins in western North America, including basins in western Canada, the Rocky Mountains, and the southwestern United States. The company can also receive natural gas from fields in California. The company purchases natural gas to serve its core customers directly from producers and marketers in both Canada and the United States. The contract lengths and natural gas sources of the company’s portfolio of natural gas purchase contracts have varied generally based on market conditions. During 2024, the company purchased approximately 287,000 MMcf of natural gas (net of the sale of excess supply of gas). Substantially all of this natural gas was purchased under contracts with a term of one year or less. The company’s largest individual supplier represented approximately 50% of the total natural gas volume the company purchased during 2024.

Natural Gas System Assets

The company owns and operates an integrated natural gas transmission, storage, and distribution system that includes most of northern and central California. As of December 31, 2024, the company’s natural gas system consisted of approximately 45,200 miles of distribution pipelines, approximately 5,700 miles of backbone and local transmission pipelines, and various storage facilities. The company owns and operates eight natural gas compressor stations on its backbone transmission system and one compressor station on its local transmission system that are used to move gas through its pipelines. The company’s backbone transmission system is used to transport gas from its interconnection with interstate pipelines, other local distribution companies, and California gas fields to its local transmission and distribution systems.

The company has firm transportation agreements for the transportation of natural gas from various natural gas supply points and interconnection points to its natural gas transportation system. These agreements provide transportation service from western Canada to the United States-Canada border, from the United States-Canada border to an interconnection point with the company’s natural gas transportation system at the Oregon-California border, from the U.S. Rocky Mountains to an interconnection point with the company’s natural gas transportation system at the Oregon-California border, and from supply points in the southwestern United States to interconnection points with its natural gas transportation system in the area of California near Topock, Arizona.

The company owns and operates three underground natural gas storage fields and has a 25% interest in a fourth storage field, all of which are connected to its gas transmission system. In 2019, the CPUC approved the discontinuation, through closure or sale, of operations at two of the company’s owned and operated gas storage fields, Pleasant Creek and Los Medanos. The sale of Pleasant Creek is pending CPUC review and approval, and the company anticipates closing on the sale in 2025. The company continues to operate and rely on the Los Medanos storage field as filed and approved in the 2023 GRC. The company owns and operates compressors and other facilities at these storage fields that are used to inject gas into the fields for storage and later for withdrawal. In addition, four independent storage operators are interconnected to the company’s Northern California gas transmission system.

In 2024, the company continued upgrading transmission pipelines to allow for the use of in-line inspection tools.

Nuclear Operations

The company manages its scheduled refueling outages with the objective of minimizing their duration and maintaining high nuclear generating capacity factors, resulting in a stable generation base for the company’s wholesale and retail power marketing activities. During scheduled refueling outages, the company performs maintenance, and equipment upgrades to minimize the occurrence of unplanned outages and to maintain safe, reliable operations. For the year ended December 31, 2024, DCPP achieved an average capacity factor of 93%. Capacity factors, which are significantly affected by the number and duration of refueling and non-refueling outages, reflect the availability of DCPP’s generation to the California electricity market and impact the company’s performance-based disbursements.

In addition to the maintenance and equipment upgrades performed by the company during scheduled refueling outages, the company has extensive operating and security procedures in place to assure the safe operation of DCPP. The company also has extensive safety systems in place designed to protect the plant, personnel, and surrounding area in the unlikely event of an accident or other incident.

Government Regulation

The company’s business is subject to the regulatory jurisdiction of various agencies at the federal, state, and local levels. At the state level, the company is regulated primarily by the California Public Utilities Commission (CPUC). At the federal level, the company is regulated primarily by the Federal Energy Regulatory Commission (FERC) and the Nuclear Regulatory Commission (NRC). The company is also subject to the requirements of other federal, state and local regulatory agencies, including with respect to safety, the environment, and health, such as the National Transportation Safety Board (NTSB) and the Office of Energy Infrastructure Safety (OEIS).

The company is subject to the Public Utility Holding Company Act as a public utility holding company. The Public Utility Holding Company Act primarily obligates the company and its utility subsidiaries to provide access to their books and records to the FERC and the CPUC for ratemaking purposes.

The company’s facilities are subject to various regulations adopted by the Environmental Protection Agency (EPA), including the Resource Conservation and Recovery Act and the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended. The company is also subject to the regulations adopted by other federal agencies responsible for implementing federal environmental laws. The company also must comply with environmental laws and regulations adopted by the State of California and various state and local agencies.

The company’s electric generation plants, natural gas pipeline operations, vehicle fleet, and fuel storage tanks are subject to numerous air pollution control laws, including the federal Clean Air Act, as well as state and local statutes.

History

PG&E Corporation was incorporated in California in 1905.

PG&E Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Energy generation and distribution:** 70% **Gas supply:** 25% **Renewable energies:** 5% **California:** 85% **Oregon:** 10% **Washington:** 5% PG&E Corporation generates the majority of its revenue from energy generation and distribution, followed by gas supply. A smaller but gr...

At which locations are the company’s products manufactured?

**Production Sites:** California, USA PG&E Corporation is a utility company that mainly operates in California. The company does not produce physical products in the traditional sense, but supplies electricity and natural gas to its customers. Energy generation is done through a combination of...

What strategy does PG&E pursue for future growth?

**Revenue growth:** Estimated 5-7% per year (2025) **Investments in renewable energies:** Over 10 billion USD by 2030 PG&E Corporation pursues a growth strategy that strongly focuses on the integration and expansion of renewable energies. The company plans to invest over 10 billion USD in rene...

Which raw materials are imported and from which countries?

**Main imported raw materials:** Natural gas, copper, aluminum **Countries of origin:** Canada, Chile, Australia PG&E Corporation mainly imports natural gas, which is needed for energy generation and supplying customers in California. A significant portion of the natural gas comes from Canada...

How strong is the company’s competitive advantage?

**Market share in California:** approx. 40% (2024 estimate) **Customer base:** Over 16 million people (2024) **Investments in renewable energies:** Over 5 billion USD (2023) PG&E Corporation has a significant competitive advantage due to its dominant market position in California, where it...

What is the share of institutional investors and insider buying/selling?

**Institutional investor share:** approx. 75% (estimated 2025) **Insider purchases/sales:** No significant changes in the last year (estimated 2025) The institutional investor share in PG&E Corporation has traditionally been high, as large investment funds and institutional investors heavily...

What percentage market share does PG&E have?

**Market share of PG&E Corporation:** Estimate: 15% (2025) **Main competitors and their market shares:** 1. **Southern Company:** 18% 2. **Duke Energy:** 17% 3. **Exelon Corporation:** 16% 4. **PG&E Corporation:** 15% 5. **NextEra Energy:** 14% 6. **Dominion Energy:** 12% 7. **American Elec...

Is PG&E stock currently a good investment?

**Revenue growth:** 3.5% (2024) **Profit growth:** 4.2% (2024) **Debt ratio:** 65% (2024) PG&E Corporation recorded a moderate revenue growth of 3.5% in 2024. This indicates stable demand for its services, which is typical for a utility company. The profit growth of 4.2% shows that the company...

Does PG&E pay a dividend – and how reliable is the payout?

**Dividend payment:** No dividend (as of 2025) PG&E Corporation has not paid any dividends in recent years. This is mainly due to the financial challenges the company has had to overcome in the past, including the bankruptcy in 2019 and the associated restructuring. The company has focused on...

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PG&E Stock Value

PG&E Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the utilities sector (5Y.)

What does PG&E do?

PG&E Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

PG&E Stock Value

PG&E Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the utilities sector (5Y.)

What does PG&E do?

PG&E Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.