13 Best Utility Stocks to Buy According to Analysts

9. PG&E Corporation (NYSE:PCG)

Average estimated analysts’ upside: 19.00%

Number of Hedge Fund Holders: 74

​PG&E Corporation (NYSE:PCG) is one of the largest combined natural gas and electric utilities in the United States, serving approximately 16 million people in northern and central California, providing electricity and natural gas services. The company’s energy generation portfolio comprises nuclear, hydroelectric, natural gas, and renewable sources.

PG&E Corporation (NYSE:PCG) delivered strong financial results in 2024, achieving core earnings per share of $1.36, representing an 11% growth over 2023. The company has updated its 2025 guidance range with a midpoint up 10% from 2024 results, and maintains its EPS growth guidance of at least 9% annually through 2028. Notable achievements include completing the equity funding needs for their $63 billion capital investment plan through 2028, increasing the annual dividend rate to $0.10 for 2025, and achieving a 4% reduction in nonfuel costs in 2024. Management’s strong long-term guidance is also backed by high conviction from hedge funds and sell-side analysts, who estimate an average 19% upside, making PCG one of the best utility stocks to consider.

PG&E Corporation (NYSE:PCG) is experiencing significant growth potential from data center demand, with formal applications representing 5.5 gigawatts of new potential data center load in its pipeline. Of this, 1.4 gigawatts has passed through preliminary engineering studies, with over 90% projected to come online before the end of 2030. Management estimates that for every 1,000 megawatts of new electric demand from data centers, customers may save between 1% to 2% of their electricity bill, creating room to make the grid safer and more resilient at a lower cost.