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Public Service Enterprise
(NYSE:PEG)
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Rating:67Neutral
Price Target:
$88.00
â–²(7.87% Upside)
Action:Reiterated
Date:07/02/26
The score is anchored by improved profitability and healthier leverage trends, but capped by volatile and currently slightly negative free cash flow. The latest earnings call adds support via reaffirmed guidance, multi-year regulated investment plans, and ongoing dividend growth, while technicals and valuation look generally constructive rather than exceptional.
Positive Factors
Regulated capex & rate-base growth
Multi-year regulated capital plans that are expected to expand rate base provide a durable earnings and cash-flow runway. As investments are added to the regulated rate base and recovered via tariffs, allowed returns support stable revenue growth and utility-like margin resilience over the medium term.
Negative Factors
Volatile and slightly negative free cash flow
Heavy, lumpy capital spending drives inconsistent FCF and recent slight negative TTM free cash flow, constraining organic funding for debt paydown or discretionary returns. This structural capital intensity raises reliance on external financing and can limit near-term balance sheet repair.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated capex & rate-base growth
Multi-year regulated capital plans that are expected to expand rate base provide a durable earnings and cash-flow runway. As investments are added to the regulated rate base and recovered via tariffs, allowed returns support stable revenue growth and utility-like margin resilience over the medium term.
Read all positive factors
Public Service Enterprise Key Performance Indicators (KPIs)
Any
Net Income Breakdown
Analyzes the sources of profit, highlighting which business areas are most profitable and where there might be challenges impacting overall financial health.
Analyzes the sources of profit, highlighting which business areas are most profitable and where there might be challenges impacting overall financial health.
Data provided by:
The Fly
The FlyPublic Service Enterprise (PEG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.67B
Dividend Yield3.13%
Average Volume (3M)2.98M
Price to Earnings (P/E)18.0
Beta (1Y)0.22
Revenue Growth20.30%
EPS Growth23.48%
CountryUS
Employees13,047
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)4.54
Shares Outstanding498,321,400
10 Day Avg. Volume2,841,365
30 Day Avg. Volume2,980,117
Financial Highlights & Ratios
PEG Ratio1.01
Price to Book (P/B)2.36
Price to Sales (P/S)3.29
P/FCF Ratio123.29
Enterprise Value/Market Cap1.38
Enterprise Value/Revenue4.37
Enterprise Value/Gross Profit5.49
Enterprise Value/Ebitda11.50
Forecast
1Y Price Target
$88.82Price Target Upside8.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)4.38
Revenue Forecast (FY)$12.36B
Public Service Enterprise Business Overview & Revenue Model
Company Description
Public Service Enterprise Group Incorporated (PSEG) is an energy provider primarily operating through its subsidiaries in the Northeastern and Mid-Atlantic United States. The company's business activities are structured into two primary segments: ...
How the Company Makes Money
PSEG primarily makes money through two channels: (1) regulated utility earnings and (2) power generation and other energy-related activities. Regulated utility revenue is earned mainly by PSE&G through delivering electricity and natural gas to end...
Public Service Enterprise Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive operational and financial start to 2026 — with meaningful EPS gains, strong nuclear reliability, maintained guidance, substantial capital plans, liquidity, and shareholder-friendly dividend growth. The company also highlighted customer-focused programs and regulatory wins that should help bills and reliability. Offsetting risks include rising costs and interest rates, the end of the ZEC program, uncertainties around PJM's reliability backstop and cost allocation, data-center demand concentration outside New Jersey, and timing/approval risks for nuclear extensions and uprates. On balance, positive achievements and stable guidance outweigh the challenges, though several industry and regulatory uncertainties merit monitoring.Positive Updates
Earnings Growth — GAAP and Non-GAAP
Net income of $1.48 per share in Q1 2026 versus $1.18 in Q1 2025, an increase of ~25%. Non-GAAP operating earnings $1.55 per share versus $1.43 in prior year, up ~8.4%.
Negative Updates
End of Zero Emission Certificate (ZEC) Program Impact
Absence of the ZEC program (which concluded last May) reduced revenue drivers for PSEG Power and required higher gas and capacity revenues to offset the impact.
Read all updates
Q1-2026 Updates
Positive
Negative
Earnings Growth — GAAP and Non-GAAP
Net income of $1.48 per share in Q1 2026 versus $1.18 in Q1 2025, an increase of ~25%. Non-GAAP operating earnings $1.55 per share versus $1.43 in prior year, up ~8.4%.
Read all positive updates
Company Guidance
Management reaffirmed full‑year 2026 non‑GAAP operating earnings guidance of $4.28–$4.40 per share (Q1 non‑GAAP $1.55/share; Q1 net income $1.48/share) and reiterated long‑term targets of $22.5–$25.5 billion of five‑year regulated CapEx at PSE&G and $24–$28 billion at PSEG through 2030, supporting 6%–7.5% CAGR in rate base and a 6%–8% non‑GAAP operating earnings CAGR to 2030. For 2026 they expect approximately $4.2 billion of capital spending (about $800 million invested in Q1), GSMP III of ~$1.4 billion over three years (≈$1.0 billion accelerated recovery; $360 million stipulated base), an indicative 2026 annual dividend rate of $2.68/share (≈6% increase, 15th consecutive annual raise), and continued focus on reliability. Liquidity stood at $3.9 billion at March (≈$400 million cash), they added a $500 million 364‑day term loan, extended $3.75 billion of revolvers to March 2031, issued $1.0 billion of MTNs (500M at 4.20% due 2031; 500M at 5.63% due 2056), carry ~$915 million of variable‑rate debt (~4% of total), expect FERC‑related PJM transmission reallocations to generate estimated customer refunds of over $100 million, and noted strong nuclear performance (Salem Unit 2 began an outage after a 95.5% Q1 capacity factor and ~8 TWh supplied).Public Service Enterprise Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
49
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.79B | 12.17B | 10.29B | 11.24B | 9.80B | 9.72B |
| Gross Profit | 10.19B | 8.40B | 3.54B | 4.83B | 2.60B | 3.00B |
| EBITDA | 4.87B | 4.64B | 4.04B | 5.09B | 2.85B | 814.00M |
| Net Income | 2.26B | 2.11B | 1.77B | 2.56B | 1.03B | -648.00M |
Balance Sheet | ||||||
| Total Assets | 57.95B | 57.58B | 54.64B | 50.74B | 48.72B | 49.00B |
| Cash, Cash Equivalents and Short-Term Investments | 404.00M | 135.00M | 125.00M | 54.00M | 465.00M | 818.00M |
| Total Debt | 16.79B | 24.37B | 22.89B | 20.41B | 20.44B | 19.63B |
| Total Liabilities | 40.64B | 40.59B | 38.53B | 35.26B | 34.99B | 34.56B |
| Stockholders Equity | 17.30B | 16.98B | 16.11B | 15.48B | 13.73B | 14.44B |
Cash Flow | ||||||
| Free Cash Flow | -64.00M | 325.00M | -1.25B | 481.00M | -1.39B | -983.00M |
| Operating Cash Flow | 2.95B | 2.37B | 2.13B | 3.81B | 1.50B | 1.74B |
| Investing Cash Flow | -3.35B | -2.85B | -3.31B | -2.96B | -1.10B | -2.24B |
| Financing Cash Flow | -197.00M | 490.00M | 1.23B | -1.26B | -754.00M | 799.00M |
Public Service Enterprise Technical Analysis
Positive
81.58
Price Trends
78.98
Positive
80.51
Positive
79.96
Positive
Market Momentum
0.88
Negative
56.08
Neutral
39.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PEG, the sentiment is Positive. The current price of 81.58 is above the 20-day moving average (MA) of 80.24, above the 50-day MA of 78.98, and above the 200-day MA of 79.96, indicating a bullish trend. The MACD of 0.88 indicates Negative momentum. The RSI at 56.08 is Neutral, neither overbought nor oversold. The STOCH value of 39.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PEG.
Public Service Enterprise Risk Analysis
Public Service Enterprise disclosed 29 risk factors in its most recent earnings report. Public Service Enterprise reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Public Service Enterprise Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $40.67B | 17.98 | 13.32% | 3.13% | 20.30% | 23.48% | |
66 Neutral | $38.71B | 23.53 | 11.99% | 3.38% | 11.20% | -1.68% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
63 Neutral | $51.17B | 23.42 | 9.34% | 3.09% | 7.57% | 2.60% | |
61 Neutral | $42.01B | 19.13 | 8.82% | 3.44% | 9.10% | 9.59% | |
60 Neutral | $52.71B | 28.92 | 10.63% | 2.64% | 12.03% | 27.47% | |
59 Neutral | $48.99B | 17.47 | 9.76% | 3.68% | 4.58% | 1.43% |
* Utilities Sector Average
PEG
Public Service Enterprise
81.62
3.05
3.88%
ED
Consolidated Edison
113.99
16.91
17.41%
ETR
Entergy
115.11
35.24
44.11%
EXC
Exelon
47.88
6.25
15.02%
WEC
WEC Energy Group
118.83
17.89
17.72%
XEL
Xcel Energy
81.96
15.81
23.90%
Public Service Enterprise Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
PSEG Updates Investor Materials to Enhance Transparency
Positive
Jul 1, 2026
On July 1, 2026, PSEG announced that it would post updated investor materials on its Investor Relations website, signaling a refresh of information available to shareholders and analysts. The release underscores the company’s ongoing efforts...
Private Placements and FinancingRegulatory Filings and Compliance
Public Service Enterprise completes $500 million senior notes offering
Positive
Jun 3, 2026
On June 3, 2026, PSEG completed a public offering of $500 million in 4.800% Senior Notes due 2031, issued under an existing shelf registration and sold to the public through a syndicate led by major investment banks. The notes are governed by a lo...
Business Operations and StrategyFinancial Disclosures
Public Service Enterprise Highlights Q1 2026 Operating Performance
Neutral
May 5, 2026
On May 5, 2026, PSEG held an earnings call to discuss its financial results for the quarter ended March 31, 2026, accompanied by a slide presentation outlining first‑quarter performance and updated guidance. Management emphasized non‑G...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Public Service Enterprise Stockholders Back Board, Maintain Governance
Neutral
Apr 23, 2026
Public Service Enterprise Group held its Annual Meeting of Stockholders on April 21, 2026, at which all management-nominated directors were elected, executive compensation received stockholder approval, and Deloitte Touche was ratified as the com...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.