Valued at a market cap of $45 billion, PG&E Corporation (PCG) is one of the largest regulated electric and natural gas utility holding companies in the United States. Headquartered in Oakland, California, the company owns and operates an extensive network of electric transmission lines, distribution systems, natural gas pipelines, and power generation assets.
PCG is set to report its Q2 earnings on Thursday, July 23, 2026, before the market opens. Ahead of the release, analysts expect the company to post diluted EPS of $0.37, up 19.4% from $0.31 in the year-ago quarter. PCG has exceeded or met Wall Street's EPS estimates in two of its last four quarters and missed expectations in the remaining two quarters.
For fiscal 2026, analysts expect PCG to report EPS of $1.65, reflecting 10% growth from $1.50 in fiscal 2025. Likewise, its EPS is projected to increase another 9.7% year over year to $1.81 in fiscal 2027.
PCG stock has increased 26% over the past 52 weeks, outperforming both the S&P 500 Index ($SPX), which returned 20.5%, and the State Street Utilities Select Sector SPDR ETF (XLU), which gained 11.5% during the same period.
PG&E has outperformed the broader market over the past year, driven by improving investor confidence in its wildfire mitigation efforts, steady rate-base growth, and strong earnings. The company has reported multiple consecutive years without a major wildfire caused by its equipment, reaffirmed its earnings guidance, and continued to benefit from grid modernization investments and rising electricity demand from data centers and electric vehicles in California.
Analysts remain bullish on PCG, with the stock holding a "Strong Buy" consensus rating. Of the 18 analysts covering the stock, 13 rate it a "Strong Buy," while five recommend a "Hold." The average analyst price target of $22.44 implies a potential upside of 30.6% from the current share price.
