12 Best Electrical Infrastructure Stocks to Buy According to Analysts

4. PG&E Corporation (NYSE:PCG)

Average Analyst Upside: 17.86%

Number of Hedge Fund Holders: 49

PG&E Corporation (NYSE:PCG), through its subsidiary Pacific Gas and Electric Company, distributes electricity and natural gas to customers across California. Leveraging a mix of energy sources—nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic technologies—PG&E ensures reliable power generation for its customers.

On December 12, RBC Capital reiterated its Outperform rating on PG&E Corporation (NYSE:PCG) and maintained a $24 price target, citing the utility’s strong wildfire mitigation and capital investment strategies. PG&E’s wildfire prevention efforts have been particularly effective, with no structures destroyed in its High Fire-Threat Districts (HFTDs) this year, despite a rise in wildfires statewide. The company has also benefited from financial safeguards under AB 1054, with PG&E receiving its first two payments under the program.

PG&E’s capital expenditure (capex) plan remains ambitious, with the company accelerating $1 billion into its five-year plan during Q3. Financing for these investments was secured through junior subordinated notes, underscoring the company’s sound financial strategy. Additionally, PG&E Corporation (NYSE:PCG) has filed a supplemental request for $3.1 billion in projects for 2025-2026, which is expected to add $2.8 billion to its overall project pipeline. The company’s focus on customer-driven investments aligns with California’s legislative initiatives, such as SB 410 and SB 884, and is further supported by a 3.5 GW data center pipeline.

According to Insider Monkey’s Q3 database, 49 hedge funds held positions in PG&E Corporation (NYSE:PCG), up from 46 funds in the previous quarter.