PCG Stock Overview
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, the United States.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$12.75|
|52 Week High||US$13.54|
|52 Week Low||US$9.46|
|1 Month Change||2.16%|
|3 Month Change||25.62%|
|1 Year Change||27.88%|
|3 Year Change||27.50%|
|5 Year Change||-81.29%|
|Change since IPO||-39.65%|
Recent News & Updates
Is PG&E (NYSE:PCG) Using Too Much Debt?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
There May Be Reason For Hope In PG&E's (NYSE:PCG) Disappointing Earnings
Soft earnings didn't appear to concern PG&E Corporation's ( NYSE:PCG ) shareholders over the last week. We think that...
PG&E: Wildfire De-Risking Continues, A Rangebound Stock Could Be A Recovery Story
Wildfire liability crushed PG&E in 2017 and 2018. With a major settlement in the rearview, its management team is focused on keeping risk top of mind. The chart is trendless for now, but bulls should watch one key price for clues on a breakout. Climate matters continue to be top of mind among legislators on Capitol Hill. Last week's Inflation Reduction Act aims to support domestic clean energy providers. Another aspect of the environmental push is working to ensure events like the California wildfires of yesteryear happen less frequently. PG&E was and is at the heart of litigation claims following that devastation. The stock has been crushed over the last five years, but there could be value here. According to Bank of America Global Research, PG&E Corporation (PCG) is the owner of the Pacific Gas & Electric Company, a regulated utility servicing 13 million people in a 70,000 square mile service area in Northern and Central California. The utility has businesses in electric and natural gas distribution, electricity generation, procurement, and transmission, as well as natural gas procurement, transportation, and storage. Pacific Gas & Electric manages 5.2 million customer accounts and 4.3 million gas customer accounts. The $27 billion market cap San Francisco-based utilities sector stock does not pay a dividend and features a remarkably high short interest ratio of 15.9%, according to The Wall Street Journal. Earlier this year, the company reached a $55 million settlement over its California wildfire saga. Just recently, PCG missed analyst estimates for its Q2 earnings last week. Earnings Steadying, But A Q2 Miss Fidelity Investments While profits were below forecasts, the long-term valuation looking out through next year appears favorable once earnings normalize. BofA analysts see EPS rising at a strong rate from $1.00 in 2021 to $1.34 by the end of next year. There's hope that PG&E could reinstate its dividend, too. Moreover, the company could turn free cash flow positive over the coming quarters. PCG: Earnings, Valuation, Dividend Forecasts BofA Global Research With the Q2 earnings report in the rearview mirror, the corporate event calendar is light until PCG's Q3 earnings date unconfirmed on Oct. 31 BMO according to Wall Street Horizon. PG&E Corporate Event Calendar Wall Street Horizon The Technical Take The last two-plus years have been one big chopfest for PG&E shares. There was heavy selling and a massive drawdown from 2017 through 2018 as the company dealt with severe liability around the California wildfire situation. Since mid-2020 though, the chart is simply trendless. There's support in the $8 to $9 range and resistance in the $12 to $14 area. The bulls will point to five straight positive weeks, but that's just near-term noise to me.
|PCG||US Electric Utilities||US Market|
Return vs Industry: PCG exceeded the US Electric Utilities industry which returned 5.8% over the past year.
Return vs Market: PCG exceeded the US Market which returned -23% over the past year.
|PCG Average Weekly Movement||4.1%|
|Electric Utilities Industry Average Movement||3.0%|
|Market Average Movement||6.9%|
|10% most volatile stocks in US Market||15.8%|
|10% least volatile stocks in US Market||2.8%|
Stable Share Price: PCG is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: PCG's weekly volatility (4%) has been stable over the past year.
About the Company
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, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources. As of December 31, 2021, the company owns and operates approximately 18,000 circuit miles of interconnected transmission lines; 33 electric transmission substations, approximately 108,000 circuit miles of distribution lines, 67 transmission switching substations, and 753 distribution substations; and natural gas transmission, storage, and distribution system consisting of approximately 43,800 miles of distribution pipelines, approximately 6,200 miles of backbone and local transmission pipelines, and various storage facilities.
PG&E Fundamentals Summary
|PCG fundamental statistics|
Is PCG overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|PCG income statement (TTM)|
|Cost of Revenue||US$15.33b|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||0.10|
|Net Profit Margin||0.98%|
How did PCG perform over the long term?See historical performance and comparison
Is PCG undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 3/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for PCG?
Other financial metrics that can be useful for relative valuation.
|What is PCG's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does PCG's PE Ratio compare to its peers?
|PCG PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
EIX Edison International
ES Eversource Energy
CEG Constellation Energy
Price-To-Earnings vs Peers: PCG is expensive based on its Price-To-Earnings Ratio (125.6x) compared to the peer average (32.4x).
Price to Earnings Ratio vs Industry
How does PCG's PE Ratio compare vs other companies in the US Electric Utilities Industry?
Price-To-Earnings vs Industry: PCG is expensive based on its Price-To-Earnings Ratio (125.6x) compared to the US Electric Utilities industry average (19.5x)
Price to Earnings Ratio vs Fair Ratio
What is PCG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||125.6x|
|Fair PE Ratio||29.1x|
Price-To-Earnings vs Fair Ratio: PCG is expensive based on its Price-To-Earnings Ratio (125.6x) compared to the estimated Fair Price-To-Earnings Ratio (29.1x).
Share Price vs Fair Value
What is the Fair Price of PCG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: PCG ($12.75) is trading below our estimate of fair value ($33.51)
Significantly Below Fair Value: PCG is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
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How is PG&E forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
Future Growth Score2/6
Future Growth Score 2/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PCG's forecast earnings growth (16.9% per year) is above the savings rate (1.9%).
Earnings vs Market: PCG's earnings (16.9% per year) are forecast to grow faster than the US market (14.6% per year).
High Growth Earnings: PCG's earnings are forecast to grow, but not significantly.
Revenue vs Market: PCG's revenue (2.5% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: PCG's revenue (2.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PCG's Return on Equity is forecast to be low in 3 years time (10.5%).
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How has PG&E performed over the past 5 years?
Past Performance Score1/6
Past Performance Score 1/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PCG has a large one-off loss of $756.0M impacting its June 30 2022 financial results.
Growing Profit Margin: PCG's current net profit margins (1%) are lower than last year (4.1%).
Past Earnings Growth Analysis
Earnings Trend: PCG has become profitable over the past 5 years, growing earnings by -4.8% per year.
Accelerating Growth: PCG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PCG had negative earnings growth (-73.5%) over the past year, making it difficult to compare to the Electric Utilities industry average (10.1%).
Return on Equity
High ROE: PCG's Return on Equity (1%) is considered low.
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How is PG&E's financial position?
Financial Health Score0/6
Financial Health Score 0/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: PCG's short term assets ($11.7B) do not cover its short term liabilities ($15.0B).
Long Term Liabilities: PCG's short term assets ($11.7B) do not cover its long term liabilities ($76.5B).
Debt to Equity History and Analysis
Debt Level: PCG's net debt to equity ratio (243.3%) is considered high.
Reducing Debt: PCG's debt to equity ratio has increased from 97.7% to 244.4% over the past 5 years.
Debt Coverage: PCG's debt is not well covered by operating cash flow (5%).
Interest Coverage: PCG's interest payments on its debt are not well covered by EBIT (2x coverage).
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What is PG&E current dividend yield, its reliability and sustainability?
Dividend Score 0/6
Cash Flow Coverage
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate PCG's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate PCG's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if PCG's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if PCG's dividend payments have been increasing.
Earnings Payout to Shareholders
Earnings Coverage: PCG is not paying a notable dividend for the US market.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as PCG has not reported any payouts.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Patti Poppe (53 yo)
Ms. Patricia Kessler Poppe, also known as Patti, is Director at Associated Electric & Gas Insurance Services Limited since February 2020. She has been Chief Executive Officer and Director of PG&E Corporati...
CEO Compensation Analysis
|Patti Poppe's Compensation vs PG&E Earnings|
|Date||Total Comp.||Salary||Company Earnings|
|Jun 30 2022||n/a||n/a|
|Mar 31 2022||n/a||n/a|
|Dec 31 2021||US$51m||US$1m|
Compensation vs Market: Patti's total compensation ($USD51.21M) is above average for companies of similar size in the US market ($USD13.05M).
Compensation vs Earnings: Insufficient data to compare Patti's compensation with company performance.
Experienced Management: PCG's management team is considered experienced (2.1 years average tenure).
Experienced Board: PCG's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
|14 Apr 22||SellUS$722,400,000||Pg&E Fire Victim Trust||Company||60,000,000||US$12.04|
|31 Jan 22||SellUS$483,600,000||Pg&E Fire Victim Trust||Company||40,000,000||US$12.09|
|05 Nov 21||BuyUS$100,089||Arno Harris||Individual||8,475||US$11.81|
|Owner Type||Number of Shares||Ownership Percentage|
|State or Government||656,336||0.03%|
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.1%.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
PG&E Corporation's employee growth, exchange listings and data sources
- Name: PG&E Corporation
- Ticker: PCG
- Exchange: NYSE
- Founded: 1905
- Industry: Electric Utilities
- Sector: Utilities
- Implied Market Cap: US$26.615b
- Shares outstanding: 2.09b
- Website: https://www.pgecorp.com
Number of Employees
- PG&E Corporation
- 77 Beale Street
- PO Box 770000
- San Francisco
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|PCG||NYSE (New York Stock Exchange)||Yes||Common Shares||US||USD||Jan 1992|
|PCG||BRSE (Berne Stock Exchange)||Yes||Common Shares||CH||CHF||Jan 1992|
|PCG||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Jan 1992|
|PCG||XTRA (XETRA Trading Platform)||Yes||Common Shares||DE||EUR||Jan 1992|
|0QR3||LSE (London Stock Exchange)||Yes||Common Shares||GB||USD||Jan 1992|
|PCG||ETLX (Eurotlx)||Yes||Common Shares||IT||EUR||Jan 1992|
|PCGU||NYSE (New York Stock Exchange)||UNIT 08/16/23||US||USD||Jun 2020|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/09/26 00:00|
|End of Day Share Price||2022/09/26 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.