Pacific Gas & Electric (NYSE:PCG) Stock Rated “Buy” in New Coverage at HSBC

HSBC initiated coverage on shares of Pacific Gas & Electric (NYSE:PCG) in a research note released on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $15.50 price target on the utilities provider’s stock.

A number of other research firms also recently issued reports on PCG. The Goldman Sachs Group set a $20.00 price objective on Pacific Gas & Electric in a report on Thursday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of Pacific Gas & Electric in a report on Tuesday, September 1st. UBS Group reaffirmed a “neutral” rating on shares of Pacific Gas & Electric in a research report on Tuesday, October 13th. Wells Fargo & Company downgraded shares of Pacific Gas & Electric from an “overweight” rating to a “buy” rating in a research report on Monday, August 31st. Finally, Wall Street Zen lowered shares of Pacific Gas & Electric from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Pacific Gas & Electric currently has an average rating of “Hold” and an average target price of $16.38.

Pacific Gas & Electric Trading Down 2.9%

PCG opened at $12.60 on Thursday. The stock has a market cap of $33.77 billion, a PE ratio of 9.33, a PEG ratio of 1.01 and a beta of 0.28. 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 business has a 50 day moving average of $14.04 and a 200-day moving average of $15.97. Pacific Gas & Electric has a 52 week low of $11.77 and a 52 week high of $19.16.

Pacific Gas & Electric (NYSE:PCG) last released its quarterly earnings results 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 firm had revenue of $6.19 billion for the quarter, compared to the consensus estimate of $6.82 billion. Pacific Gas & Electric had a net margin of 12.00% and a return on equity of 11.61%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Equities research analysts predict that Pacific Gas & Electric will post 1.65 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Pacific Gas & Electric’s payout ratio is currently 14.49%.

Insider Activity

In related news, Director William Fugate sold 6,500 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $13.76, for a total value of $89,440.00. Following the transaction, the director owned 73,530 shares in the company, valued at $1,011,772.80. The trade was a 8.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Larsen purchased 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average price of $12.20 per share, for a total transaction of $91,500.00. Following the purchase, the director owned 36,685 shares in the company, valued at $447,557. This represents a 25.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Gallagher Fiduciary Advisors LLC bought a new stake in Pacific Gas & Electric in the 2nd quarter worth about $300,895,000. Legal & General Group Plc bought a new position in Pacific Gas & Electric during the 2nd quarter valued at about $398,915,000. Canada Pension Plan Investment Board bought a new position in Pacific Gas & Electric during the 2nd quarter valued at about $320,820,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Pacific Gas & Electric during the 2nd quarter valued at about $314,855,000. Finally, Man Group plc purchased a new stake in shares of Pacific Gas & Electric during the 2nd quarter valued at about $188,513,000. Institutional investors own 78.56% of the company’s stock.

Key Pacific Gas & Electric News

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

• Positive Sentiment: PG&E reaffirmed its outlook, calling for 2026 core EPS of $1.64–$1.66 and 2027 core EPS of $1.78–$1.82. The company also cited progress on cost reductions, a $2 billion reduction in planned 2027 capital spending, and a 5,000-mile undergrounding plan. 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 reportedly sees potential for strong appreciation. PG&E also highlighted expanding data-center demand and opportunities related to artificial intelligence and grid investment. Morgan Stanley Forecasts Strong Price Appreciation
• Neutral Sentiment: PG&E is responding to a San Francisco proposal to take over the city’s electric grid, placing a $22.5 billion valuation on the assets. The proposal could create a substantial transaction opportunity, but its financial and regulatory outcome remains uncertain. PG&E Puts a $22.5B Price Tag on San Francisco Public Grid Takeover Proposal
• Negative Sentiment: Wells Fargo cut its PCG price target from $24 to $14 and assigned an Equal Weight rating. Although the new target implies upside from the recent trading level, the magnitude of the reduction signals diminished analyst confidence and is likely pressuring the stock.
• Negative Sentiment: Third-quarter results fell short of expectations: core EPS was $0.41 versus a $0.42 consensus, revenue was $6.19 billion versus estimates near $6.82 billion, and earnings declined from $0.50 per share a year earlier. Lower authorized returns and tax impacts also weighed on results. PG&E Q3 Earnings Lag Estimates

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.