Pacific Gas & Electric (NYSE:PCG) Stock Gets Price Target Reduction from Wells Fargo & Company

Posted by Geri Gentry on Oct 26th, 2026

Pacific Gas & Electric (NYSE:PCG – Free Report) had its price target reduced by Wells Fargo & Company from $24.00 to $14.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

PCG has been the subject of several other research reports. HSBC initiated coverage on shares of Pacific Gas & Electric in a research note on Thursday. They issued a “buy” rating and a $15.50 price objective for the company. The Goldman Sachs Group set a $20.00 target price on shares of Pacific Gas & Electric in a research report on Thursday, October 15th. Bank of America reaffirmed a “neutral” rating and set a $13.00 target price (down from $24.00) on shares of Pacific Gas & Electric in a report on Tuesday, September 1st. Barclays dropped their price target on shares of 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. Finally, Jefferies Financial Group set a $13.00 price target on Pacific Gas & Electric in a research note on Tuesday, September 1st. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.38.

Get Our Latest Research Report on Pacific Gas & Electric

Pacific Gas & Electric Stock Down 0.2%

Shares of PCG opened at $12.60 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.97 and a current ratio of 1.03. The firm’s 50-day simple moving average is $14.04 and its 200 day simple moving average is $15.96. Pacific Gas & Electric has a 52 week low of $11.77 and a 52 week high of $19.16. The firm has a market cap of $33.77 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 1.01 and a beta of 0.28.

Pacific Gas & Electric (NYSE:PCG – Get Free Report) last posted its quarterly earnings data 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 return on equity of 11.49% and a net margin of 12.00%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. On average, analysts forecast that Pacific Gas & Electric will post 1.65 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Wednesday, September 30th. Pacific Gas & Electric’s dividend payout ratio is presently 14.81%.

Insider Transactions at Pacific Gas & Electric

In other news, Director John O. Larsen purchased 7,500 shares of Pacific Gas & Electric stock in a transaction that occurred on Wednesday, September 30th. The shares were acquired at an average price of $12.20 per share, for a total transaction of $91,500.00. Following the transaction, the director owned 36,685 shares of the company’s stock, valued at approximately $447,557. The trade was a 25.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director William Fugate sold 6,500 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $13.76, for a total transaction of $89,440.00. Following the sale, the director owned 73,530 shares in the company, valued at $1,011,772.80. This represents a 8.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake in Pacific Gas & Electric by 23.6% during the third quarter. Sterling Capital Management LLC now owns 81,861 shares of the utilities provider’s stock worth $1,003,000 after purchasing an additional 15,622 shares during the last quarter. Fox Hill Wealth Management bought a new position in shares of Pacific Gas & Electric in the 2nd quarter valued at $1,818,000. Rakuten Investment Management Inc. bought a new position in shares of Pacific Gas & Electric in the 2nd quarter valued at $6,210,000. Glenview Trust Co bought a new position in shares of Pacific Gas & Electric in the 2nd quarter valued at $208,000. Finally, Empowered Funds LLC acquired a new position in shares of Pacific Gas & Electric during the 2nd quarter worth $8,566,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Pacific Gas & Electric

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

About Pacific Gas & Electric

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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.