This Nuclear Stock is Surging Even While Losing Money: Here's the Reason
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 12 2025
0mins
Source: Benzinga
Oklo Inc's Financial Performance: Oklo Inc reported a wider-than-expected loss of $0.20 per share for its fiscal third quarter, missing estimates, but its shares rose over 8% due to optimism surrounding regulatory approvals and government support for nuclear energy projects.
Regulatory Progress and Strategic Milestones: Analysts noted Oklo's significant progress in gaining regulatory approvals, including a fast-tracked pilot program for its Aurora project, which could expedite the construction of its first nuclear facility.
Future Plans and Challenges: While Oklo is advancing in regulatory aspects, analysts emphasize the importance of execution and scalability, with expectations for significant reactor capacity deployment not anticipated until the early 2030s.
Nuclear Energy Market Outlook: Long-term strategists remain bullish on nuclear energy, highlighting its potential to address global power shortages and the advantages of small modular reactors (SMRs) in terms of cost, safety, and environmental impact.
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Analyst Views on PCG
Wall Street analysts forecast PCG stock price to rise
11 Analyst Rating
9 Buy
2 Hold
0 Sell
Strong Buy
Current: 17.390
Low
18.00
Averages
21.36
High
25.00
Current: 17.390
Low
18.00
Averages
21.36
High
25.00
About PCG
PG&E Corporation is a holding company. The Company's primary operating subsidiary is Pacific Gas and Electric Company (the Utility), a public utility operating in Northern and Central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electric transmission and distribution services throughout its service area in northern and central California to residential, commercial, industrial, and agricultural customers. The Utility provides electricity, transmission, and distribution services in its service area. The Utility owns approximately 18,000 circuit miles of interconnected transmission lines operating at voltages ranging from 60 kilovolts (kV) to 500 kV. The Utility also operates 33 electric transmission substations with a capacity of approximately 67,000 megavolt amperes (MVA). Customers can also obtain electricity from alternative providers such as municipalities (CCAs).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Price Recovery Context: The stock has gained 20% since January lows, reflecting increased optimism regarding a supportive outcome from SB254 Phase 2, although analysts express diminished confidence in meaningful wildfire liability reform for utilities.
- Insufficient Political Support: Jefferies analyst Julien Dumoulin-Smith noted that while support from the California PUC and TURN is constructive, the lack of buy-in from the insurance sector poses challenges for structural reform, potentially impacting the business environment.
- Fire Risk Warning: The analyst highlighted elevated risks for the 2026 fire season, although it remains uncertain whether this will catalyze legislative urgency; current snow-water equivalent estimates indicate statewide snowpack at just 37% of historical averages, with Northern California at a mere 18%.
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- Earnings Growth Outlook: Analyst Gregg Orrill highlighted PG&E's projected earnings per share growth rate of approximately 9%, significantly exceeding the market's expectation of 7%, indicating strong potential for profitability.
- Dividend Policy Adjustment: PG&E plans to raise its dividend payout ratio to 20% by 2028, a move that not only reflects confidence in future cash flows but may also attract more investor interest in its stock.
- Legislative Support: Anticipated legislation in H2 2026 aimed at strengthening California's wildfire risk framework, along with a favorable resolution of the electric and gas rate case, could materially narrow PG&E's current 43% P/E utility discount, enhancing its market valuation.
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See More
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- Downgrade Impact: PG&E shares rose 1.1% on Monday despite Jefferies downgrading the stock from Buy to Hold with a price target cut from $20 to $19, indicating market confidence in the company's future performance.
- Price Recovery Context: The stock has gained 20% since January lows, reflecting increased optimism regarding a supportive outcome from SB254 Phase 2, although analysts express diminished confidence in meaningful wildfire liability reform for utilities.
- Insufficient Political Support: Jefferies analyst Julien Dumoulin-Smith noted that while support from the California PUC and TURN is constructive, the lack of buy-in from the insurance sector poses challenges for structural reform, potentially impacting the business environment.
- Fire Risk Warning: The analyst highlighted elevated risks for the 2026 fire season, although it remains uncertain whether this will catalyze legislative urgency; current snow-water equivalent estimates indicate statewide snowpack at just 37% of historical averages, with Northern California at a mere 18%.
See More
Gallagher Increases Stake in Vanguard Long-Term Corporate Bond ETF
- Increased Holdings: Gallagher Fiduciary Advisors, LLC increased its stake in the Vanguard Long-Term Corporate Bond ETF (VCLT) by 525,553 shares in Q4 2026, with an estimated transaction value of approximately $40 million, indicating strong confidence in long-term bonds.
- Asset Value Growth: The quarter-end position value of VCLT rose by $39.9 million due to both share additions and price changes, highlighting the ETF's significance in Gallagher's asset management, representing about 2.1% of its 13F assets under management.
- Investment Strategy: VCLT focuses on tracking the Bloomberg U.S. 10+ Year Corporate Bond Index, primarily investing in investment-grade corporate debt with maturities over 10 years, offering low-cost exposure to long-term debt that appeals to yield-seeking investors.
- Market Outlook: With expectations of declining interest rates, investors may increasingly favor long-term bonds, and Gallagher's buying strategy could yield capital returns in a falling rate environment, enhancing the potential for future gains.
See More
Gallagher Fiduciary Increases VCLT Holdings
- Share Increase: Gallagher Fiduciary added 525,553 shares of VCLT in Q4 2025, with an estimated transaction value of about $40 million, reflecting the fund's positive outlook on the long-duration bond market.
- Value Appreciation: As of December 31, 2025, Gallagher's total position in VCLT reached 845,731 shares, valued at approximately $64 million, marking a $39.9 million increase from the previous quarter, indicating strong market response to the ETF.
- Asset Allocation Strategy: While significantly increasing its VCLT holdings, Gallagher also boosted its stock exposure through VTI and reduced positions in individual stocks like McDonald's, PG&E, and Delta Air Lines, showcasing its flexible asset allocation strategy.
- Interest Rate Expectations: With rising expectations for interest rate cuts in 2026, investors may favor long-term bonds to lock in higher yields and position for capital returns as rates decline.
See More
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- Rating Upgrade: UBS upgraded PG&E from Neutral to Buy with a price target increase from $20 to $23, anticipating that improvements in wildfire policy and affordability will drive a re-rating, reflecting market confidence in the company's future performance.
- Earnings Growth Outlook: Analyst Gregg Orrill highlighted PG&E's projected earnings per share growth rate of approximately 9%, significantly exceeding the market's expectation of 7%, indicating strong potential for profitability.
- Dividend Policy Adjustment: PG&E plans to raise its dividend payout ratio to 20% by 2028, a move that not only reflects confidence in future cash flows but may also attract more investor interest in its stock.
- Legislative Support: Anticipated legislation in H2 2026 aimed at strengthening California's wildfire risk framework, along with a favorable resolution of the electric and gas rate case, could materially narrow PG&E's current 43% P/E utility discount, enhancing its market valuation.
See More
UBS Increases PG&E Corp's Target Price from $20 to $23
- PG&E Target Price Increase: UBS has raised the target price for PG&E Corp. to $23 from $20.
- Market Implications: This adjustment reflects UBS's positive outlook on PG&E's performance and market position.
See More
Major Wall Street Rating Updates on Monday
- Apple Rating Maintained: Citigroup reiterates Apple as a buy despite trimming its second-half earnings estimates, projecting a 140bps and 48bps gross margin headwind in 2026 and 2027, indicating Apple's relative strength in navigating memory component price hikes.
- Oracle Price Target Cut: Deutsche Bank lowers Oracle's price target from $375 to $300 while maintaining a buy rating, reflecting concerns over extended timelines to resolve issues that could impact equity performance in the coming quarters.
- Nvidia Core Holding: Citigroup reaffirms Nvidia as a core holding, emphasizing its pivotal role in agentic and physical AI, showcasing confidence in the company's growth potential in these critical sectors.
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See More
