Billionaire Steve Cohen’s 10 Mid-Cap Stock Picks with Huge Upside Potential

5. PG&E Corporation (NYSE:PCG)

Upside Potential: 22.93%

Market Cap: $37.21 billion

PG&E Corporation (NYSE:PCG) has been in operation since the start of the 20th century, and engages in the sale and delivery of electricity and natural gas to customers in northern and central California. The company generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources, and transmits it through its transmission lines. PCG serves all customer segments, whether it be residential, commercial, industrial, or agricultural.

Looking back over the past month, investors had taken the news of California wildfires around PCG’s service areas as a sign of worry. Moody’s (in contrast) recently upgraded its credit rating for PG&E Corporation (NYSE:PCG). Moody’s Ratings VP Jeff Casella made the following statement about this upgrade:

“It reflects the organization’s continued improvement in mitigating wildfire risk over the last few years as well as its ability to strengthen both its financial profile and its relationships with key stakeholders.”

In terms of financial performance, PG&E Corporation (NYSE:PCG) latest earnings for the first quarter of 2025 showed revenue of $5.98 billion (up by 2.8% YoY). Management also provided guidance for the revenue to be at an estimated $6.24 billion for the upcoming quarter. Point72 Asset Management owned more than 11.9 million shares, representing 0.53% of its portfolio.