This is Why UBS is Bullish on PG&E Corporation (PCG) as a High Growth Utility Stock

PG&E Corporation (NYSE:PCG) is one of the high growth utility stocks to buy according to analysts. On April 28, analysts at UBS reiterated a Buy rating on PG&E Corp (NYSE:PCG) and set a $23 price target. The research firm remains confident in the company’s outlook, given the progress on the California wildfire legislation.

The research firm expects positive hearings in May on the California Earthquake Authority’s review of its recommendation on wildfire liability. It also expects serious efforts on the legislation, which is expected to serve as a catalyst until September 15, the end of the session.

Similarly, the research firm has touted PG&E as one of the top 5 companies in the utility sector, with solid earnings-per-share growth. Its 9% growth rate is among the highest, and the company does not require equity financing through at least 2030. In the first quarter of 2026, the company delivered earnings per share of $0.43, beating consensus estimates of $0.39. Revenue came in at $6.88 billion, above the $6.38 billion expected.

PG&E Corporation (NYSE:PCG) is a holding company and a major utility providing electricity and natural gas to roughly 16 million people in Northern and Central California. It generates, transmits, and distributes power, focusing on clean energy sources like solar, hydro, and wind.

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