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PCG

PG&E NYSE:PCG Stock Report

Last Price

US$14.19

Market Cap

US$29.6b

7D

14.3%

1Y

43.5%

Updated

04 Oct, 2022

Data

Company Financials +
PCG fundamental analysis
Snowflake Score
Valuation0/6
Future Growth2/6
Past Performance1/6
Financial Health0/6
Dividends0/6

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.

PG&E Competitors

Price History & Performance

Summary of all time highs, changes and price drops for PG&E
Historical stock prices
Current Share PriceUS$14.19
52 Week HighUS$14.21
52 Week LowUS$9.64
Beta1.15
1 Month Change13.07%
3 Month Change44.35%
1 Year Change43.48%
3 Year Change30.18%
5 Year Change-79.49%
Change since IPO-32.83%

Recent News & Updates

Sep 16
Is PG&E (NYSE:PCG) Using Too Much Debt?

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...

Aug 05
There May Be Reason For Hope In PG&E's (NYSE:PCG) Disappointing Earnings

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...

Aug 03

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.

Shareholder Returns

PCGUS Electric UtilitiesUS Market
7D14.3%0.5%4.4%
1Y43.5%2.7%-18.2%

Return vs Industry: PCG exceeded the US Electric Utilities industry which returned 0.2% over the past year.

Return vs Market: PCG exceeded the US Market which returned -20% over the past year.

Price Volatility

Is PCG's price volatile compared to industry and market?
PCG volatility
PCG Average Weekly Movement4.2%
Electric Utilities Industry Average Movement3.3%
Market Average Movement6.9%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.8%

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

FoundedEmployeesCEOWebsite
190526,000Patti Poppehttps://www.pgecorp.com

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

How do PG&E's earnings and revenue compare to its market cap?
PCG fundamental statistics
Market CapUS$29.62b
Earnings (TTM)US$212.00m
Revenue (TTM)US$21.63b

139.7x

P/E Ratio

1.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PCG income statement (TTM)
RevenueUS$21.63b
Cost of RevenueUS$15.33b
Gross ProfitUS$6.29b
Other ExpensesUS$6.08b
EarningsUS$212.00m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Oct 27, 2022

Earnings per share (EPS)0.10
Gross Margin29.10%
Net Profit Margin0.98%
Debt/Equity Ratio244.4%

How did PCG perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is PCG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

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.

PCG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.9x
Enterprise Value/EBITDA12.5x
PEG Ratio8.9x

Price to Earnings Ratio vs Peers

How does PCG's PE Ratio compare to its peers?

PCG PE Ratio vs Peers
The above table shows the PE ratio for PCG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average33.6x
ES Eversource Energy
21.2x8.1%US$28.1b
EIX Edison International
45.8x11.8%US$23.2b
CEG Constellation Energy
45.3x22.5%US$29.2b
XEL Xcel Energy
22.3x6.7%US$36.4b
PCG PG&E
139.7x15.7%US$29.6b

Price-To-Earnings vs Peers: PCG is expensive based on its Price-To-Earnings Ratio (139.7x) compared to the peer average (33.6x).


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 (139.7x) compared to the US Electric Utilities industry average (18.2x)


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.

PCG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio139.7x
Fair PE Ratio28.8x

Price-To-Earnings vs Fair Ratio: PCG is expensive based on its Price-To-Earnings Ratio (139.7x) compared to the estimated Fair Price-To-Earnings Ratio (28.8x).


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 ($14.19) is trading above our estimate of fair value ($4.92)

Significantly Below Fair Value: PCG is trading above our estimate of fair value.


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 less than 20% higher than the current share price.


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Future Growth

How is PG&E forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


15.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PCG's forecast earnings growth (15.7% per year) is above the savings rate (1.9%).

Earnings vs Market: PCG's earnings (15.7% per year) are forecast to grow faster than the US market (14.7% per year).

High Growth Earnings: PCG's earnings are forecast to grow, but not significantly.

Revenue vs Market: PCG's revenue (3.1% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: PCG's revenue (3.1% 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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Past Performance

How has PG&E performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-4.8%

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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Financial Health

How is PG&E's financial position?

Financial Health Score

0/6

Financial Health Score 0/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

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).


Balance Sheet


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Dividend

What is PG&E current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.18%

Forecast Dividend Yield

Dividend Yield vs Market

PG&E Dividend Yield vs Market
How does PG&E dividend yield compare to the market?
SegmentDividend Yield
Company (PG&E)0%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.5%
Industry Average (Electric Utilities)3.2%
Analyst forecast in 3 Years (PG&E)1.2%

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.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.2yrs

Average management tenure


CEO

Patti Poppe (53 yo)

1.75yrs

Tenure

US$51,209,228

Compensation

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
How has Patti Poppe's remuneration changed compared to PG&E's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$212m

Mar 31 2022n/an/a

US$253m

Dec 31 2021US$51mUS$1m

-US$102m

Compensation vs Market: Patti's total compensation ($USD51.21M) is above average for companies of similar size in the US market ($USD13.04M).

Compensation vs Earnings: Insufficient data to compare Patti's compensation with company performance.


Leadership Team

Experienced Management: PCG's management team is considered experienced (2.2 years average tenure).


Board Members

Experienced Board: PCG's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Ownership

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

NYSE:PCG Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
14 Apr 22SellUS$722,400,000Pg&E Fire Victim TrustCompany60,000,000US$12.04
31 Jan 22SellUS$483,600,000Pg&E Fire Victim TrustCompany40,000,000US$12.09
05 Nov 21BuyUS$100,089Arno HarrisIndividual8,475US$11.81

Ownership Breakdown

What is the ownership structure of PCG?
Owner TypeNumber of SharesOwnership Percentage
State or Government656,3360.03%
Individual Insiders3,234,7270.2%
General Public112,147,1025.4%
Private Companies377,743,59018.1%
Institutions1,593,676,86176.3%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.1%.


Top Shareholders

Top 25 shareholders own 79.38% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
18.1%
Pg&E Fire Victim Trust
377,743,590$5.4b-13.71%no data
11.36%
Capital Research and Management Company
237,080,043$3.4b7.6%0.21%
9.09%
The Vanguard Group, Inc.
189,650,280$2.7b6.17%0.06%
8.83%
FMR LLC
184,417,581$2.6b41.22%0.22%
4.01%
BlackRock, Inc.
83,675,276$1.2b-2.14%0.03%
3.13%
Third Point LLC
65,400,000$928.0m-5.63%13.89%
2.69%
T. Rowe Price Group, Inc.
56,215,681$797.7m-30.64%0.09%
2.28%
Blackstone Inc.
47,578,945$675.1m0%1.64%
2.14%
Massachusetts Financial Services Company
44,605,298$632.9m5.28%0.15%
1.98%
Brookfield Asset Management Inc.
41,415,418$587.7m-2.98%1.44%
1.86%
State Street Global Advisors, Inc.
38,886,320$551.8m-12.09%0.03%
1.81%
Zimmer Partners, LP
37,733,174$535.4m50.81%10.43%
1.58%
Sixth Street Partners, LLC
32,904,288$466.9m0%27.48%
1.25%
Arthur J Gallagher & Co., Asset Management Arm
26,156,059$371.2m-1.34%51.61%
1.19%
Columbia Management Investment Advisers, LLC
24,889,294$353.2m3.19%0.1%
1.11%
Pictet Asset Management Limited
23,248,052$329.9m10.78%0.27%
1.09%
RREEF America L.L.C.
22,650,370$321.4m9.33%1.42%
0.97%
EdgePoint Investment Group Inc.
20,172,352$286.2m-7.23%1.52%
0.92%
Geode Capital Management, LLC
19,206,757$272.5m-7.42%0.03%
0.72%
Franklin Resources, Inc.
15,080,982$214.0m-11.73%0.08%
0.72%
Artemis Investment Management LLP
14,962,896$212.3m85.24%0.87%
0.69%
BMO Asset Management Corp.
14,365,891$203.9m2.16%0.11%
0.65%
Owl Creek Asset Management, L.P.
13,574,472$192.6m8.1%12.51%
0.61%
Morgan Stanley, Investment Banking and Brokerage Investments
12,760,616$181.1m337.17%0.03%
0.6%
Legal & General Investment Management Limited
12,551,944$178.1m-2.23%0.05%

Company Information

PG&E Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: PG&E Corporation
  • Ticker: PCG
  • Exchange: NYSE
  • Founded: 1905
  • Industry: Electric Utilities
  • Sector: Utilities
  • Implied Market Cap: US$29.621b
  • Shares outstanding: 2.09b
  • Website: https://www.pgecorp.com

Number of Employees


Location

  • PG&E Corporation
  • 77 Beale Street
  • PO Box 770000
  • San Francisco
  • California
  • 94177
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PCGNYSE (New York Stock Exchange)YesCommon SharesUSUSDJan 1992
PCGBRSE (Berne Stock Exchange)YesCommon SharesCHCHFJan 1992
PCGDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1992
PCGXTRA (XETRA Trading Platform)YesCommon SharesDEEURJan 1992
0QR3LSE (London Stock Exchange)YesCommon SharesGBUSDJan 1992
PCGETLX (Eurotlx)YesCommon SharesITEURJan 1992
PCGUNYSE (New York Stock Exchange)UNIT 08/16/23USUSDJun 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/04 00:00
End of Day Share Price2022/10/04 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.