Public Service Enterprise (PEG)
NYSE:PEG
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Public Service Enterprise
(NYSE:PEG)
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Rating:72Outperform
Price Target:
$95.00
â–²(16.11% Upside)
Action:UpgradedDate:02/26/26
The score is driven primarily by a strong earnings-call outlook (raised 2026 guidance, higher long-term growth targets, and a dividend increase) and constructive technical momentum (price above major moving averages with positive MACD). Offsetting factors are a leveraged utility balance sheet and uneven cash-flow conversion, while valuation appears reasonable but not compelling given the ~20.7 P/E and ~2.93% yield.
Positive Factors
Regulated CapEx & Rate‑Base Growth
A multi‑year, largely regulated capital program supporting a 6%–7.5% rate‑base CAGR provides durable, tariff‑backed revenue growth and predictable return opportunities. This sustains long‑term earnings and supports funding of investments through regulated cost recovery mechanisms.
Negative Factors
Elevated Leverage
A debt‑heavy balance sheet is typical for utilities but narrows financial flexibility. With significant long‑duration debt, higher rates or unexpected capital needs could raise interest expense and constrain the ability to accelerate investments, raise dividends, or absorb regulatory delays.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated CapEx & Rate‑Base Growth
A multi‑year, largely regulated capital program supporting a 6%–7.5% rate‑base CAGR provides durable, tariff‑backed revenue growth and predictable return opportunities. This sustains long‑term earnings and supports funding of investments through regulated cost recovery mechanisms.
Read all positive factors
Public Service Enterprise (PEG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$40.81B
Dividend Yield3.13%
Average Volume (3M)2.96M
Price to Earnings (P/E)19.0
Beta (1Y)0.32
Revenue Growth18.29%
EPS Growth2.40%
CountryUS
Employees13,047
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)0.72
Shares Outstanding498,739,900
10 Day Avg. Volume3,250,247
30 Day Avg. Volume2,956,020
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 Cap1.59
Enterprise Value/Revenue5.32
Enterprise Value/Gross Profit7.71
Enterprise Value/Ebitda13.66
Forecast
1Y Price Target
$91.42Price Target Upside11.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
EPS Forecast (FY)4.37
Revenue Forecast (FY)$12.17B
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 generates revenue through multiple channels, primarily from the sale of electricity and natural gas to residential, commercial, and industrial customers. The company earns a significant portion of its revenue from utility services, which incl...
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 Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
The call emphasized multiple clear operational and financial strengths — FY GAAP earnings growth (~19%), a dividend raise (~6%), raised guidance and long-term CAGR (6%–8%), robust capital program, strong nuclear performance (91.2% capacity factor), customer bill relief measures, and significant reliability/customer satisfaction recognition. Offsetting items included year-over-year declines in certain quarterly and segment non-GAAP results, higher depreciation/interest/tax expenses, short-term O&M impacts from nuclear refueling, and some regulatory/legislative uncertainty. On balance, the positive drivers (earnings growth, guidance raise, operational resilience, strong liquidity and capital plan) materially outweigh the noted headwinds.Positive Updates
Strong Full-Year GAAP Earnings Growth
Net income of $4.22 per share for FY2025 versus $3.54 in FY2024, an increase of approximately 19.2% year-over-year.
Negative Updates
Quarterly Non-GAAP Operating Earnings Decline
Q4 non-GAAP operating earnings per share were $0.72 versus $0.84 in Q4 2024, a decline of approximately 14.3% year-over-year.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Full-Year GAAP Earnings Growth
Net income of $4.22 per share for FY2025 versus $3.54 in FY2024, an increase of approximately 19.2% year-over-year.
Read all positive updates
Company Guidance
PSEG guided 2026 non‑GAAP operating earnings of $4.28–$4.40 per share (≈7% midpoint increase vs. 2025 non‑GAAP $4.05; 2025 GAAP net income $4.22), raised long‑term non‑GAAP CAGR to 6%–8% through 2030 (GAAP growth outlook also 6%–8%), and said 2025 non‑GAAP results were at the high end of its $4.00–$4.06 range; the company forecasts regulated capital spending of $22.5–$25.5 billion (also cited $24–$28 billion) for 2026–2030 with a PSE&G rate‑base CAGR of 6%–7.5% (year‑end 2025 rate base ≈ $36 billion, up ~7% YoY), plans ≈ $4.2 billion of regulated CapEx in 2026, expects >90% of investments to be regulated and to fund the plan through 2030 without issuing equity or selling assets, and reiterated PSEG Power is ~95% hedged for the remainder of 2026; other metrics noted included 2025 regulated CapEx ≈ $3.7 billion (≈ $1 billion in Q4), 2025 nuclear output ≈ 30.9 TWh (91.2% capacity factor; Q4 ≈ 7.2 TWh, 83.7% CF), a 2026 dividend of $2.68 per share (up $0.16, ~6%), available liquidity ≈ $2.8 billion (≈ $130 million cash), cash from operations > $3 billion in 2025, variable‑rate debt ≈ 6% of total, and projected FFO/debt in the mid‑teens through 2030.Public Service Enterprise Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.17B | 10.29B | 11.24B | 9.80B | 9.72B |
| Gross Profit | 8.40B | 3.54B | 4.83B | 2.60B | 3.00B |
| EBITDA | 4.64B | 4.04B | 5.09B | 2.85B | 814.00M |
| Net Income | 2.11B | 1.77B | 2.56B | 1.03B | -648.00M |
Balance Sheet | |||||
| Total Assets | 57.58B | 54.64B | 50.74B | 48.72B | 49.00B |
| Cash, Cash Equivalents and Short-Term Investments | 135.00M | 125.00M | 54.00M | 465.00M | 818.00M |
| Total Debt | 24.37B | 22.89B | 20.41B | 20.44B | 19.63B |
| Total Liabilities | 40.59B | 38.53B | 35.26B | 34.99B | 34.56B |
| Stockholders Equity | 16.98B | 16.11B | 15.48B | 13.73B | 14.44B |
Cash Flow | |||||
| Free Cash Flow | 325.00M | -1.25B | 481.00M | -1.39B | -983.00M |
| Operating Cash Flow | 2.37B | 2.13B | 3.81B | 1.50B | 1.74B |
| Investing Cash Flow | -2.85B | -3.31B | -2.96B | -1.10B | -2.24B |
| Financing Cash Flow | 490.00M | 1.23B | -1.26B | -754.00M | 799.00M |
Public Service Enterprise Technical Analysis
Positive
81.82
Price Trends
82.32
Negative
80.97
Positive
81.31
Positive
Market Momentum
-0.50
Positive
48.96
Neutral
59.33
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 81.82 is below the 20-day moving average (MA) of 82.08, below the 50-day MA of 82.32, and above the 200-day MA of 81.31, indicating a neutral trend. The MACD of -0.50 indicates Positive momentum. The RSI at 48.96 is Neutral, neither overbought nor oversold. The STOCH value of 59.33 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $40.81B | 18.98 | 12.60% | 3.13% | 18.29% | 2.40% | |
69 Neutral | $37.52B | 22.02 | 11.65% | 3.38% | 11.88% | 29.76% | |
67 Neutral | $41.71B | 17.55 | 8.43% | 3.44% | 10.35% | 7.64% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $50.46B | 15.92 | 9.87% | 3.68% | 6.07% | 15.20% | |
65 Neutral | $50.37B | 21.48 | 9.43% | 3.09% | 3.32% | -2.30% | |
64 Neutral | $52.05B | 23.04 | 10.76% | 2.64% | 6.71% | -0.12% |
* Utilities Sector Average
PEG
Public Service Enterprise
81.82
7.10
9.50%
ED
Consolidated Edison
115.43
13.44
13.17%
ETR
Entergy
114.90
37.68
48.79%
EXC
Exelon
49.33
6.18
14.31%
WEC
WEC Energy Group
117.58
17.74
17.77%
XEL
Xcel Energy
80.74
15.74
24.21%
Public Service Enterprise Corporate Events
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 ...
Executive/Board Changes
Public Service Enterprise Appoints New Independent Board Director
Positive
Jan 21, 2026
On January 20, 2026, Public Service Enterprise Group’s board of directors elected Geisha J. Williams as a new independent director, with her term to begin on March 1, 2026, and confirmed that she meets independence standards under the New Yo...
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.