Billionaire Dan Loeb’s 10 Stocks with Huge Upside Potential

6. PG&E Corporation (NYSE:PCG)

Upside Potential: 26.12%

Number of Hedge Fund Holders: 77

Third Point Management holds $712,334,000 worth of PG&E Corporation (NYSE:PCG) shares, representing 9.35% of its portfolio.

On October 3, 2025, Jefferies reduced its price target on PG&E Corporation (NYSE:PCG) from $22 to $20, maintaining a “Buy” rating.

The investment firm attributed its bullish stance on PG&E Corporation (NYSE:PCG) to the company’s solid risk-reward profile, alongside declining wildfire risk and a 9% EPS CAGR premium through 2030. Jefferies believes PG&E’s earnings guidance is conservative, also highlighting the absence of equity financing needs and potential share buybacks. At the same time, the company’s shares are trading at a 50% forward price-to-earnings discount versus peers.

Meanwhile, PG&E Corporation (NYSE:PCG) announced on October 3, 2025, that it has completed 1,000 miles of underground power lines in high fire-risk areas, which is the largest such initiative by a U.S. utility. The initiative has reduced systemwide wildfire ignition risk by 8.4% since 2023, while total undergrounding is expected to reach 1,600 miles by 2026. With this, the company further enhanced reliability and cost efficiency across Northern and Central California.

PG&E Corporation (NYSE:PCG), a regulated electric and natural gas utility, offers energy services to residential, commercial, and industrial customers in Northern and Central California. It is included in Dan Loeb’s stock portfolio.