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2. PG&E Corporation (NYSE:PCG)

Number of Hedge Fund Holders: 79

On January 27, 2026, PG&E Corporation (NYSE:PCG), alongside Lockheed Martin, Salesforce, and Wells Fargo, announced the launch of EMBERPOINT LLC, a joint venture focused on wildfire detection, prevention, and response. The companies said EMBERPOINT will combine artificial intelligence, autonomous systems, and integrated command-and-control tools to help first responders detect fires earlier and improve coordination during mitigation efforts. PG&E is contributing its wildfire mitigation experience across geographically diverse service areas, while Lockheed Martin is supplying prediction, detection, and autonomous response capabilities. Salesforce is providing the digital platform, and Wells Fargo is backing the venture through a capital investment.

On January 21, 2026, Morgan Stanley raised its price target on PG&E Corporation to $21 from $20 while keeping an Equal Weight rating. The update came as the firm refreshed its Regulated & Diversified Utilities and IPP coverage in North America, noting that utilities lagged the S&P 500’s return in December.

In December 2025, J.P. Morgan and TD Cowen both reiterated their ‘Buy’ ratings on PG&E Corporation (NYSE:PCG) with identical price targets of $21. The firms see PCG as “a compelling recovery story” following the wildfires early in 2025. Notably, PCG’s growth is expected to be driven by electrification trends and wildfire mitigation opportunities. TD Cowen also pointed out PCG’s “compelling valuation” among the key factors for their ‘Buy’ rating.

PG&E Corporation (NYSE:PCG) is a California-based utility holding company whose primary subsidiary, Pacific Gas and Electric Company, supplies electricity and natural gas to roughly 16 million customers across Northern and Central California, covering about 70,000 square miles.