Barclays Cuts PG&E (PCG) Price Target to $17

Barclays reiterates its Overweight rating on PG&E Corporation with a target of $17.00, reflecting a 22.5% downside from recent trading levels.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:11 PM EDT

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Barclays cut its price target on PG&E Corporation ($PCG) to $17 from $18 on October 12, 2026, and rates the stock "Overweight".

Since the rating, $PCG is down 0.5% to date (from the $13.16 close on Oct 12, 2026).

PCG PG&E Corporation

$13.09 -18.75% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, Barclays reiterated its Overweight rating on PG&E Corporation (PCG) with a price target of $17.00.
Barclays's $17 price target implies 29.03% upside from PG&E Corporation's ($PCG) current $13.18 share price.
As of October 16, 2026, PG&E shares traded recently around $13.18, which is 22.5% below Barclays' target.
PG&E is set to report its next earnings on October 22, 2026, after generating $25.8 billion in revenue over the last twelve months.

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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated PG&E Corporation alert may contain errors. Disclosures

Barclays reiterated its Overweight rating on PG&E Corporation (PCG) on October 12, 2026, maintaining a price target of $17.00. This target is 22.5% below the recent trading price of $13.18 as of October 16, 2026.

Other Institutional Activity in PG&E Corporation

Blackrock Inc. has 203,140,117 shares of PG&E, valued at about $2.66 billion after increasing its holdings by 7,625,086 shares. Vanguard Capital Management LLC holds 142,036,384 shares worth approximately $1.86 billion, up by 973,335 shares. State Street Corporation has 128,484,925 shares, worth around $1.68 billion, after a gain of 2,605,700 shares. FMR, LLC increased its stake to 119,559,243 shares valued at $1.57 billion, adding 488,191 shares. Vanguard Portfolio Management LLC finished with 110,884,839 shares, worth about $1.45 billion, after a rise of 1,810,632 shares.

PG&E Corporation Stock Up 1.7%

PG&E shares closed at $13.18 recently, which is significantly below Barclays' target of $17.00. This target suggests that the stock may have room for growth, especially considering its recent performance and the broader market dynamics in the utilities sector.

12-month forecast

$PCG price target

PG&E Corporation daily closes and this analyst's $17 target. Not advice.

Recent Earnings

In the trailing twelve months, PG&E reported $25.8 billion in revenue and an EPS of $1.39. The company has a net margin of 11.8% and a return on equity of 9.3%. Investors will be looking for updates in the next earnings report scheduled for October 22, 2026.

Insider Buying and Selling at PG&E Corporation

On September 30, 2026, Director John O Larsen bought 7,500 shares at an average price of $12.20, totaling $91,500. Other insiders, including Kerry Whorton Cooper and Marlene Santos, sold shares at $18.00 earlier in July, but their transactions were not indicative of positive sentiment for the stock's future.

Analysts Set New Price Targets

On October 12, 2026, Barclays maintained its Overweight rating on PG&E with a price target of $17.00, down from $18.00. Similarly, JP Morgan also kept its Overweight rating with the same target. Other analysts have mixed views, with B of A Securities maintaining a Neutral rating with a target of $14.00, while UBS downgraded to Neutral with a target of $14.00 as well.

About PG&E Corporation

PG&E Corporation, based in Oakland, California, operates through its subsidiary, Pacific Gas and Electric Company, providing electricity and natural gas to customers in northern and central California. The company generates power from various sources, including nuclear, hydroelectric, and renewable energy. This recent analyst move comes amid ongoing evaluations of its financial performance and market conditions.

Bottom Line

Investors should watch for PG&E's next earnings report on October 22, 2026, for insights into its financial health. With Barclays' recent price target and mixed analyst opinions, the stock's performance will be closely monitored in the coming weeks.