The Motley Fool·3d ago
I'm Watching PG&E Closely, but Here's Why I Haven't Bought the DipPG&E stock is at the mercy of California politicians. That implies high levels of risk that investors can't ignore.
PG&E's investment thesis centers on a post-bankruptcy recovery driven by a $100.7B rate base (up 13.5% YoY) and a safety-first capital plan, which supports modest earnings growth despite regulatory lag. The company's earned ROE trails authorized levels, with o...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue growth has been modest (0.1% YoY in Q2 2026), but operating margins have stabilized around 21.4%, with EPS growth of 37.5% in Q2 2026 inflated by one-time items, masking core earnings power.
PG&E reported a significant increase in Q1 2026 earnings, with GAAP earnings at $0.39 per diluted share, up from $0.28 in the prior year. Non-GAAP core earnings also rose to $0.43 per share from $0.33.
The company has reaffirmed its full-year 2026 non-GAAP core earnings per share (EPS) guidance of $1.64–$1.66. This signals confidence in its ability to achieve projected earnings, driven by customer capital investment and operational savings.
PG&E anticipates 9%+ annual EPS growth through 2030, with no need for new equity issuance until then. This consistent growth projection is a significant positive for investors.
Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Jul 23, 2026 | $0.40+11.6% vs $0.36 | $5.9B-4.9% vs $6.2B |
Q2 2026 Apr 23, 2026 | $0.43+8.0% vs $0.40 | $6.9B+10.0% vs $6.3B |
Q1 2026 Feb 12, 2026 | $0.36-1.1% vs $0.36 | $6.8B-3.5% vs $7.1B |
Q4 2025 Oct 23, 2025 | $0.50+17.9% vs $0.42 | $6.3B-2.5% vs $6.4B |
PG&E stock is at the mercy of California politicians. That implies high levels of risk that investors can't ignore.
OAKLAND, Calif., Sept. 18, 2026 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) declared its third quarter 2026 regular cash dividend of $0.05 per share on the Corporation's common stock.
Exelon, PG&E and Centuri stand out as utilities positioned to navigate higher rates with solid interest coverage and improving 2026 earnings estimates.
$30 million second wave advances local clean energy microgrids designed to keep communities powered during outages OAKLAND, Calif., Sept. 17, 2026 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) announced a major milestone in the deployment of community microgrids across Northern and Central California, including new grant agreements for projects moving into development and the selection of six new projects through the second application window of its Microgrid Incentive Program (MIP).
Benchmark PCG against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for PG&E Corporation (PCG)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $12.88 | $34.52B | 10.92 | 2.11% | 10.84% | 8.55% | 0.78% | |
| $55.05 | $21.18B | 4.77 | 9.76% | 19.76% | 20.05% | — | |
| $80.98 | $52.94B | 29.45 | 5.83% | 16.77% | 5.42% | — | |
| $103.84 | $38.27B | 18.41 | 10.89% | 12.53% | 8.9% | — | |
| $41.80 | $42.77B | 15.26 | 5.34% | 10.99% | 9.61% | — | |
| $116.31 | $90.67B | 18.43 | 6.19% | 15.72% | 9.58% | — |
PG&E Corporation (PCG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
PG&E Corporation (PCG) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 4, 2026·SEC
Jul 23, 2026·SEC
Jun 23, 2026·SEC
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PG&E Corporation (PCG) stock FAQ — growth, dividends, profitability & financials explained
PG&E Corporation (PCG) reported $25.84B in revenue for fiscal year 2025. This represents a 169% increase from $9.61B in 1996.
PG&E Corporation (PCG) grew revenue by 2.1% over the past year. Growth has been modest.
Yes, PG&E Corporation (PCG) is profitable, generating $3.17B in net income for fiscal year 2025 (10.8% net margin).
Yes, PG&E Corporation (PCG) pays a dividend with a yield of 0.78%. This makes it attractive for income-focused investors.
PG&E Corporation (PCG) has a return on equity (ROE) of 8.6%. This is below average, suggesting room for improvement.
PG&E Corporation (PCG) had negative free cash flow of $4.26B in fiscal year 2025, likely due to heavy capital investments.
PG&E Corporation (PCG) has a dividend payout ratio of 8%. This suggests the dividend is well-covered and sustainable.
