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PG&E Corporation - PCG STOCK NEWS

Welcome to our dedicated page for PG&E Corporation news (Ticker: PCG), a resource for investors and traders seeking the latest updates and insights on PG&E Corporation stock.

PG&E Corporation (NYSE: PCG) is a major utility holding company based in Oakland, California. Through its principal subsidiary, Pacific Gas and Electric Company, PG&E provides natural gas and electric service to approximately 16 million people across a 70,000 square mile territory in Northern and Central California.

Pacific Gas and Electric Company delivers electricity to 5.3 million customers and natural gas to 4.6 million customers. Its extensive infrastructure includes about 18,000 circuit miles of interconnected transmission lines, 107,000 circuit miles of distribution lines, and 43,300 miles of natural gas distribution pipelines. The company’s energy generation portfolio is diverse, encompassing nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.

In terms of recent achievements, PG&E has made significant strides in environmental initiatives. In 2024, it completed its Land Conservation Commitment, permanently protecting approximately 140,000 acres of watershed lands. PG&E has also launched several wildfire risk reduction projects and implemented its first 100% renewable remote electric grid at Pepperwood Preserve, demonstrating its commitment to sustainability and innovation.

Financially, PG&E has shown robust performance. For the first quarter of 2024, the company reported income available for common shareholders of $732 million or $0.34 per share. This increase is attributed to customer capital investments and non-fuel operating and maintenance savings. PG&E Corporation’s non-GAAP core earnings for the same period were $800 million or $0.37 per share.

PG&E is actively engaged in community support through charitable giving. In 2023, the company, along with The PG&E Corporation Foundation, provided $25.6 million in charitable contributions. This support benefitted nearly 5,000 nonprofits and schools, emphasizing the company's commitment to the communities it serves.

PG&E also faces challenges related to customer safety and utility scams. In 2023, the company received nearly 43,000 reports of scam attempts targeting its customers. PG&E works diligently to educate its customers on how to recognize and avoid such scams.

Overall, PG&E Corporation represents a critical utility provider in California, deeply intertwined with the state’s energy infrastructure, community welfare, and environmental stewardship. For more information, visit PG&E Corporation and Pacific Gas and Electric Company.

News

PG&E Corporation Delivers High End of Guidance for Full-Year 2023 and Increases 2024 Earnings Guidance

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The press release highlights the financial performance of PCG for the year 2023, with GAAP earnings of $1.05 per share and $0.43 per share for the fourth quarter. Non-GAAP core earnings were $1.23 per share for the year and $0.47 per share for the fourth quarter. EPS guidance for 2024 has been increased, with no equity issued in 2023 and no forecasted equity needs in 2024. Operational costs were reduced by 5.5% in 2023, exceeding targets, and a five-year capital plan of $62 billion has been set to support infrastructure improvements.
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PG&E Identifies More than 20 Climate-Tech Solutions Aimed at Achieving a Clean Energy Future

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PG&E unveils a refreshed portfolio of emerging technology projects to tackle grid challenges, following its 2023 Accelerating Innovation initiative.
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Dates Set for PG&E Quarterly Stock Dividends

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PG&E Corporation (PCG) announces its first-quarter 2024 regular cash dividend of $0.01 per share on common stock and regular preferred stock dividends for the three-month period ending April 30, 2024. The dividends are payable to shareholders of record on specific dates.
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PG&E to Customers: Let Hearts Soar on Valentine's Day, Not Metallic Balloons

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Pacific Gas and Electric Company (PG&E) warns customers about the dangers of metallic balloons causing power outages as Valentine's Day approaches. In 2023, 332 power outages affected over 157,000 homes and businesses due to balloons hitting power lines.
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PG&E Mobilizes for Atmospheric River Storm This Weekend

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PG&E prepares for a stronger storm forecasted to arrive, with significant website improvements and storm safety tips provided to customers. The company is staging crews and making faster, more complete outage information available online.
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Sunrun and PG&E Complete First Season of Innovative Residential Distributed Power Plant

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Sunrun and Pacific Gas and Electric Company (PG&E) formed a first-of-its-kind partnership to provide consistent, reliable clean energy to California's power grid through home solar-plus-storage systems. The Energy Efficiency Summer Reliability Program, also known as Peak Power Rewards, involved nearly 8,500 solar-plus-storage residential systems peaking at 32 megawatts. Sunrun managed the fleet of home batteries to provide power to PG&E, achieving an average of 27 megawatts during peak hours for over 90 consecutive days. The program was operational within six months of contract signature, achieving a customer participation rate and power supply volume never before accomplished. Enrolled customers received an upfront payment of $750 and a free smart thermostat for participating. PG&E is the nation's utility leader in both rooftop solar and behind-the-meter storage, with nearly 820,000 customers connected to the electric grid with rooftop solar and nearly 75,000 customers having installed and connected storage systems to the grid in PG&E's service area. Sunrun is the nation's largest provider of distributed power plant programs and is exploring future programs with PG&E.
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PG&E Corporation Schedules Fourth Quarter and Full Year 2023 Earnings Release and Conference Call

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PG&E Corporation (NYSE: PCG) has scheduled a conference call to discuss its fourth quarter and full year 2023 results on February 22, 2024, at 11:00 a.m. Eastern Time. The public can access the call through a webcast or a toll-free replay. PG&E Corporation is the parent company of Pacific Gas and Electric Company, serving 16 million Californians in Northern and Central California.
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Kaled Awada Named Chief People Officer, Brings 20-Plus Years of Human Resources Leadership in Automotive, Energy Industries

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Kaled Awada, a seasoned human resources executive with extensive experience in the energy and automotive sectors, has been appointed as the Executive Vice President, Chief People Officer of PG&E Corporation and its subsidiary, Pacific Gas and Electric Company. In his new role, Awada will lead PG&E's People organization, overseeing talent acquisition, labor relations, coworker development, and change management to meet the needs of the company's customers and build a clean, climate-resilient energy system for the future. His appointment has been welcomed by PG&E Corporation Chief Executive Officer Patti Poppe, who highlighted Awada's experience and leadership qualities. Awada's previous roles include serving on the board of directors for Solid Power, as well as holding executive positions at Tenneco and Aptiv, where he played crucial roles in human resources and organizational management. With a strong academic background in psychology and organizational management from The Ohio State University, Awada is poised to bring valuable expertise to PG&E.
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PG&E Encourages Northern and Central California Students Focused on STEM Education to Apply for College Scholarships of Up to $10,000

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PG&E Foundation Offers $500,000 in Scholarships for STEM Students - PG&E
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PG&E Contributes $55 Million to Expand REACH Program, Providing More Support to Income-Eligible Customers on Energy Bills

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Pacific Gas and Electric Company (PG&E) contributes $55 million to support the Dollar Energy Fund, doubling the maximum bill credit for income-eligible families to up to $1,000 in an effort to prevent service disconnections.
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FAQ

What is the current stock price of PG&E Corporation (PCG)?

The current stock price of PG&E Corporation (PCG) is $19.82 as of December 20, 2024.

What is the market cap of PG&E Corporation (PCG)?

The market cap of PG&E Corporation (PCG) is approximately 42.8B.

What services does PG&E Corporation provide?

PG&E Corporation, through its subsidiary Pacific Gas and Electric Company, provides natural gas and electric services to customers in Northern and Central California.

How many customers does PG&E serve?

PG&E serves approximately 5.3 million electricity customers and 4.6 million gas customers in Northern and Central California.

What are some recent achievements of PG&E?

Recent achievements include the completion of the Land Conservation Commitment, the implementation of wildfire risk reduction projects, and the deployment of a 100% renewable remote electric grid at Pepperwood Preserve.

How did PG&E perform financially in the first quarter of 2024?

PG&E reported first-quarter 2024 income available for common shareholders of $732 million or $0.34 per share, with non-GAAP core earnings of $800 million or $0.37 per share.

What is PG&E Corporation’s approach to community support?

PG&E Corporation supports communities through significant charitable contributions, providing $25.6 million in 2023 to nearly 5,000 nonprofits and schools.

How does PG&E support environmental sustainability?

PG&E supports environmental sustainability through initiatives like the Land Conservation Commitment, wildfire risk reduction projects, and the deployment of renewable energy technologies.

What infrastructure does PG&E operate?

PG&E operates 18,000 miles of transmission lines, 107,000 miles of distribution lines, and 43,300 miles of natural gas distribution pipelines.

What energy sources does PG&E use for electricity generation?

PG&E uses a mix of energy sources, including nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources, for electricity generation.

How is PG&E addressing utility scams?

PG&E actively educates customers on recognizing and avoiding utility scams and collaborates with the Federal Trade Commission to enhance consumer protection.

Where can I find more information about PG&E?

For more information, visit PG&E Corporation’s website at www.pgecorp.com and Pacific Gas and Electric Company’s website at www.pge.com.

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PG&E Corporation

NYSE:PCG

PCG Rankings

#304 Ranked by Market Cap
#2015 Ranked by Dividends

PCG Stock Data

42.84B
2.59B
2.67%
76.57%
1.27%
Utilities - Regulated Electric
Electric & Other Services Combined
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United States of America
OAKLAND