PG&E Climbs as Investors Reassess Wildfire Bill Fallout and Strategic Review

PG&E Corporation (PCG) is up 4.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears to be a rebound after last week’s sharp selloff tied to California wildfire-liability legislation that failed to deliver the protections utilities wanted. Buyers also seem to be revisiting PG&E’s September 2 strategic review, spending deferral plan, and reaffirmed 2026 earnings outlook, which may be supporting a recovery in sentiment.

Details:

PG&E said on September 2 that it launched a strategic review to evaluate how the company should be organized and financed, with the goal of attracting lower-cost capital and improving affordability for customers.

The company said it plans to defer about $2 billion of 2027 work, lowering next year’s capital plan while preserving critical safety and compliance spending.

PG&E reaffirmed its 2026 core earnings guidance and introduced 2027 core earnings guidance, giving investors a fresh earnings framework even as wildfire-policy uncertainty remains unresolved.

This could also be because the stock had been heavily pressured after California lawmakers did not pass the wildfire bill, leaving room for a relief bounce as investors reassess the policy outlook and the chance of further legislative work.

Sources:

PG&E Corporation, SEC, S&P Global Market Intelligence

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PCG Insider Trading Activity

$PCG insiders have traded $PCG stock on the open market 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.

Here’s a breakdown of recent trading of $PCG stock by insiders over the last 6 months:

MARLENE SANTOS sold 158,250 shares for an estimated $2,848,500
CARLA J PETERMAN (President, EVP Cust&Corp Afrs) has made 0 purchases and 2 sales selling 63,572 shares for an estimated $1,112,192.
JASON M GLICKMAN (EVP, Strategy and Growth) sold 47,264 shares for an estimated $772,766
PATRICIA K POPPE (Chief Executive Officer) sold 31,250 shares for an estimated $512,187
KERRY WHORTON COOPER has made 0 purchases and 3 sales selling 5,000 shares for an estimated $89,825.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$PCG Hedge Fund Activity

We have seen 524 institutional investors add shares of $PCG stock to their portfolio, and 451 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

THIRD POINT LLC removed 34,300,000 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $602,651,000
JPMORGAN CHASE & CO added 32,150,501 shares (+inf%) to their portfolio in Q2 2026, for an estimated $540,771,426
GALLAGHER FIDUCIARY ADVISORS, LLC added 19,199,103 shares (+98.8%) to their portfolio in Q2 2026, for an estimated $322,928,912
VAN ECK ASSOCIATES CORP removed 14,459,716 shares (-93.3%) from their portfolio in Q2 2026, for an estimated $243,212,423
CAPITAL INTERNATIONAL INVESTORS removed 12,776,909 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $224,490,291
TWO SIGMA INVESTMENTS, LP added 12,454,879 shares (+176.5%) to their portfolio in Q2 2026, for an estimated $209,491,064
BARROW HANLEY MEWHINNEY & STRAUSS LLC removed 10,230,349 shares (-35.3%) from their portfolio in Q2 2026, for an estimated $172,074,470

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PCG Price Targets

Multiple analysts have issued price targets for $PCG recently. We have seen 4 analysts offer price targets for $PCG in the last 6 months, with a median target of $22.5.

Here are some recent targets:

Richard Sunderland from Truist Securities set a target price of $22.0 on 05/18/2026
Aidan Kelly from JP Morgan set a target price of $23.0 on 05/15/2026
Julien Dumoulin-Smith from Jefferies set a target price of $19.0 on 03/23/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.