Why Is PG&E CORP (PCG) Stock Moving Today?

PG&E Corp (PCG) fell 8.85% to $12.82 in early trading on Wednesday amid a strategic review and a $2 billion deferral of 2027 capital spending. The move followed the failure of a California wildfire liability bill and raised concerns over the company’s financial strategy and long-term obligations.

What Happened

PG&E announced it would defer about $2 billion in 2027 capital spending as part of a strategic review triggered by the California government’s failure to pass wildfire-related legislation. The company also reduced its capital plan for 2027 to $11.4 billion and said the move would reduce utility and parent debt needs by about $1 billion each. The stock opened at $14.01 but quickly fell to a session low of $12.59 before recovering slightly to close the session at $12.84. The news came after PG&E reaffirmed its full-year 2026 core earnings per share guidance of $1.64 to $1.66 and provided 2027 guidance of $1.78 to $1.82.

What The Data Shows

The stock has declined 24.9% over the last eight sessions, from $17.60 to $13.22. The intraday volume of 35.1 million shares is 1.5 times the three-month average. The stock is currently trading within its 52-week range of $13.04 to $19.16. PG&E has a market cap of $29.2 billion and a P/E ratio of 10.1. Recent insider transactions include three sales totaling $3.4 million in the last 90 days. Congressional trades include three purchases and two sales by Donald J. Trump in the same period.

What To Watch

Investors should monitor PG&E’s strategic review for further developments and any potential changes to its capital allocation strategy. The company’s full-year 2027 guidance of $1.78 to $1.82 in adjusted core EPS will also be a key focus for analysts and shareholders.