PG&E Stock Lags Behind Utilities Sector Despite Strong Q3 Results

PG&E Corporation (PCG) stock has declined 25.3% from its 52-week high and underperformed the Utilities Select Sector SPDR Fund (XLU) over the past three months. Despite a 5.2% year-over-year topline growth and 35.1% YoY surge in adjusted EPS in Q3, the stock has underperformed its peer Sempra (SRE) and the broader market over the longer term. Analysts remain optimistic, with a consensus rating of "Strong Buy" and a mean price target of $21.36, suggesting a 34.8% upside potential.