Public Service Enterprise (PEG)
NYSE:PEG
Want to see PEG full AI Analyst Report?
Top Page
Public Service Enterprise
(NYSE:PEG)
Select Model
Select Model
Rating:62Neutral
Price Target:
$82.00
â–²(0.51% Upside)
Action:Reiterated
Date:05/09/26
The score is anchored by solid underlying profitability and improving leverage, but is capped by volatile/weak free cash flow and a still-debt-heavy profile. Technicals are a meaningful drag given the clear downtrend (below major moving averages and negative MACD). Valuation and the latest earnings call are supportive (moderate P/E, solid yield, reaffirmed guidance and dividend growth), but do not fully offset cash-flow and momentum concerns.
Positive Factors
Regulated capex-driven rate-base growth
Large, multi-year regulated capital programs expand the company’s rate base, which under typical utility regulatory frameworks supports steady, allowed returns. Sustained capex (through 2030) underpins projected 6%–8% operating earnings CAGR and creates durable earnings visibility.
Negative Factors
Inconsistent and slightly negative free cash flow
Persistent heavy capital spending has produced volatile and at-times negative free cash flow, reducing internal funding for debt reduction or discretionary returns. Over multiple years inconsistent FCF increases reliance on external financing and constrains margin for error if costs or approvals slip.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated capex-driven rate-base growth
Large, multi-year regulated capital programs expand the company’s rate base, which under typical utility regulatory frameworks supports steady, allowed returns. Sustained capex (through 2030) underpins projected 6%–8% operating earnings CAGR and creates durable earnings visibility.
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
$38.29B
Dividend Yield3.13%
Average Volume (3M)2.73M
Price to Earnings (P/E)13.6
Beta (1Y)0.24
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. Volume3,601,909
30 Day Avg. Volume2,734,134
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 Cap1.44
Enterprise Value/Revenue4.32
Enterprise Value/Gross Profit5.43
Enterprise Value/Ebitda11.36
Forecast
1Y Price Target
$90.68Price Target Upside11.15% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)4.38
Revenue Forecast (FY)$12.30B
Public Service Enterprise Business Overview & Revenue Model
Company Description
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits...
How the Company Makes Money
PSEG primarily makes money through regulated utility operations and, to a lesser extent, non-utility energy infrastructure activities.
1) Regulated utility revenue (core earnings driver)
- Electric distribution: PSE&G earns revenue by delivering ...
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
Negative
81.58
Price Trends
80.56
Negative
80.90
Negative
80.92
Negative
Market Momentum
-1.02
Positive
45.50
Neutral
42.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PEG, the sentiment is Negative. The current price of 81.58 is above the 20-day moving average (MA) of 78.88, above the 50-day MA of 80.56, and above the 200-day MA of 80.92, indicating a bearish trend. The MACD of -1.02 indicates Positive momentum. The RSI at 45.50 is Neutral, neither overbought nor oversold. The STOCH value of 42.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $39.25B | 11.12 | 8.82% | 3.44% | 9.10% | 9.59% | |
65 Neutral | $35.68B | 11.71 | 11.99% | 3.38% | 11.20% | -1.68% | |
65 Neutral | $48.76B | 22.29 | 9.34% | 3.09% | 7.57% | 2.60% | |
62 Neutral | $38.29B | 13.63 | 13.32% | 3.13% | 20.30% | 23.48% | |
60 Neutral | $50.17B | 32.76 | 10.63% | 2.64% | 12.03% | 27.47% | |
59 Neutral | $44.99B | 13.66 | 9.76% | 3.68% | 4.58% | 1.43% |
* Utilities Sector Average
PEG
Public Service Enterprise
78.06
2.61
3.45%
ED
Consolidated Edison
106.30
4.46
4.38%
ETR
Entergy
111.93
31.42
39.03%
EXC
Exelon
44.87
1.82
4.22%
WEC
WEC Energy Group
110.65
7.58
7.35%
XEL
Xcel Energy
79.86
12.08
17.83%
Public Service Enterprise Corporate Events
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...
Business Operations and StrategyFinancial Disclosures
Public Service Enterprise Reviews 2025 Results, Highlights Key Risks
Neutral
Feb 26, 2026
On February 26, 2026, PSEG held an earnings call to discuss its financial results for the fourth quarter and full year ended December 31, 2025, supported by a detailed investor presentation. Management emphasized the use of non-GAAP measures such ...
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.