10 AI News and Ratings Making Waves on Wall Street

3. PG&E Corporation (NYSE:PCG)

Number of Hedge Fund Holders: 49

PG&E Corporation (NYSE:PCG) provides electricity and natural gas services to various customers in northern and central California.

As reported by The Fly on February 11, Citi estimates that PG&E could have around 5 GW of potential data center load, including 3.4 GW in the engineering study phase by 2029 and an additional 1.5 GW projected from 2030 to 2040. However, concerns about this demand materializing have increased due to issues like wildfires, rate-making challenges, local opposition, and reliability risks. If California’s data center expansion slows, Citi’s telecom team expects improved pricing, margins, and returns for existing and future facilities, favoring Digital Realty and Equinix. Citi maintained a Buy rating on PG&E with a $21 price target.