PG&E Corp. (PCG): Top Pick for Nuclear Energy Investment, Backed by Billionaires
We recently released a list of the 10 Top Nuclear Energy Stocks That Millionaires Are Buying According To Reports In this piece, we will examine how PG&E Corporation (NYSE:PCG) measures up against some of the top companies in the nuclear sector.
Currently, nuclear power generates slightly below 10% of the worldwide electrical output, making it the second largest contributor to low-carbon electricity generation across the globe. It is anticipated that this figure will rise considerably since the International Energy Agency reports that approximately 70 gigawatts of additional nuclear capability are currently being built internationally. Moreover, upwards of 40 nations globally intend to increase nuclear power's share within their respective energy frameworks. In the U.S., even though nuclear facilities account for less than 8% of the nation’s operational generating capacity, they still produced more than 19% of America’s electric power in 2024.
READ ALSO: 11 Top Solar Energy Stocks That Hedge Funds Recommend Buying
Nuclear power has become a key player in fueling the expanding AI industry along with its associated data centers. As per recent projections from Deloitte, the electrical needs of these data centers might increase five times over to around 176 gigawatts by 2035. It is anticipated that roughly one-tenth of this increased requirement will be supplied through nuclear sources. In fact, just last month during the CERAWeek event held in Houston, multiple major technology companies convened unofficially and committed themselves to boosting global nuclear energy production threefold by mid-century.
However, the challenge lies in the fact that numerous such initiatives require several years for development, with certain ones potentially taking a decade or longer before completion. These ventures come at a staggering price tag of billions of dollars each and frequently encounter issues concerning delayed schedules and budget overruns, factors that may impede their financial feasibility and competitive edge. In response to this predicament, Small Modular Reactors (SMRs) have surfaced as a viable alternative. Each SMR possesses a maximum output capability of around 300 megawatts per module and boasts faster construction times along with significant potential for reducing costs. Additionally, they can be prefabricated using standardized components and are designed to be adaptable enough to serve individual clients, such as data centers or large-scale industrial facilities. According to projections by the International Energy Agency (IEA), should appropriate backing materialize, the cumulative installed capacity of SMRs might climb to approximately 80 gigawatts by 2040, representing about one-tenth of global nuclear energy production capacities collectively.
Even with an unprecedented rise in demand, many nuclear energy stocks have experienced considerable drops during the past year because the price of uranium has plummeted by approximately 37% since January 2024. This downturn partly results from escalating tensions between the U.S. and Canada, the latter being the biggest source of uranium for the former. Additionally, expectations about potentially easing sanctions against Russia—a leading provider of enriched uranium to the American commercial market in both 2022 and 2023—are also contributing to lower uranium prices.
Nevertheless, the nation prohibited the importing of Russian uranium during the previous year to encourage local manufacturing. Additionally, the Department of Energy received $2.7 billion in funding aimed at fostering the expansion of America’s nuclear fuel supply network. Consequently, this has led to a surge; specifically, five U.S. sites located in Wyoming and Texas have witnessed a 24 percent rise in homegrown uranium output over the course of 2024. Furthermore, following President Trump’s directive for an investigation into possible duties on essential mineral imports such as uranium, financial backers are now rushing to secure shares in indigenous uranium enterprises.

Our Methodology
For gathering information for this article, we examined the database from Insider Monkey which tracks billionaire holdings and selected the top 10 firms within the nuclear energy industry that attracted the most hedge fund investors during the fourth quarter of 2024. In cases where multiple companies shared an equal number of billionaire backers, they were ordered according to their market capitalization at the time when this content was composed. Here are those rankings: Top Nuclear Energy Stocks as Identified by Billionaires .
At Insider Monkey, we have an intense focus on the stocks that hedge funds heavily invest in. This interest stems from our findings which indicate that mimicking the top choices made by leading hedge funds allows us to surpass market performance. Each quarter, our quarterly newsletter suggests a selection of 14 small-cap and large-cap stocks, achieving returns of 275% since May 2014, thereby exceeding its benchmark by 150 percentage points. see more details here ) .
PG&E Corporation (NYSE: PCG )
Number of Billionaire Owners: 16
PG&E Corporation (NYSE: PCG) offers natural gas and electricity services to both residential homes and businesses across Northern and Central California. Additionally, the corporation holds ownership of the Diablo Canyon Power Plant, which stands as the sole functioning nuclear power facility within the state known as the Golden State.
In the first quarter of 2025, PG&E Corporation (NYSE: PCG) faced challenges with an adjusted earnings per share (EPS) of $0.33, just barely missing analyst predictions by $0.01. Additionally, the firm reported revenues totaling $5.98 billion, falling short of forecasts by approximately $40.35 million, even though this was a slight increase—just above 2%—year-over-year. Despite these figures, the utility business upheld its projected annual EPS growth target for 2026 through 2028, expecting it to remain at a minimum of 9%.
In the first quarter, PG&E Corporation (NYSE:PCG) onboarded more than 3,000 new electricity consumers and approximately 400 additional EV charging stations. The firm is strategically poised to capitalize on the heightened requirement for data centers and has revised its data center project portfolio upwards from 5.5 GW to 8.7 GW. Serving the San Francisco Bay Area, PCG boasts a robust fiber network ensuring swift and dependable service for data center clients, along with a concentration of skilled professionals essential for advancing artificial intelligence initiatives.
A major shift occurred when Moody’s raised the credit ratings for both PG&E Corporation (NYSE: PCG) and its Pacific Gas & Electric unit earlier this month. The upgrade was driven by the firm’s advancements in mitigating wildfire risks, enhancing its financial standing, and fostering better connections with crucial parties involved.
Overall, PCG ranks 4th on our list of the best nuclear energy stocks to buy according to billionaires. While we acknowledge the potential of PCG to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PCG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock .
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Disclosure: None. This piece was initially published at Insider Monkey .
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