Jim Cramer’s 10 Stock Picks That Could Change Your Investment Game

7. PG&E Corporation (NYSE:PCG)

Number of Hedge Fund Investors: 46

Jim Cramer expressed strong support for Patty Poppe, the CEO of PG&E Corporation (NYSE:PCG), emphasizing that he believes in the company despite any rate increases. He stated that he is committed to backing PG&E Corporation (NYSE:PCG), indicating confidence in its potential for success.

“We’ve been behind Patty Poppe, PCG’s CEO, and we are not going to get off that horse. No way! That stock is a good one, rate increase or not.”

PG&E Corporation (NYSE:PCG)’s positive outlook is backed by its strong Q2 2024 earnings, which exceeded analyst expectations and showed significant revenue growth along with improved operational efficiency and a stable financial situation. PG&E Corporation (NYSE:PCG) is investing heavily in infrastructure upgrades to improve reliability and safety, addressing past challenges and reducing wildfire risks, which boosts investor confidence.

PG&E Corporation (NYSE:PCG) is committed to transitioning to renewable energy, aligning with California’s climate goals. Investments in solar and wind projects are expected to drive long-term growth. Recent regulatory changes have also given PG&E Corporation (NYSE:PCG) more financial flexibility, including approved rate increases to fund infrastructure improvements and manage past liabilities, which are crucial for stability and growth.

As California pushes for cleaner energy and grid modernization, PG&E Corporation (NYSE:PCG) is well-positioned to meet the growing demand for sustainable energy solutions, enhancing its market opportunities. Recent announcements about new renewable energy projects and favorable regulatory decisions have further improved market sentiment, solidifying a strong outlook for PG&E Corporation (NYSE:PCG).