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Public Service Enterprise
(NYSE:PEG)
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Rating:64Neutral
Price Target:
$82.00
â–²(3.52% Upside)
Action:Reiterated
Date:08/05/26
The score is driven mainly by solid underlying financial performance and a constructive earnings outlook with reaffirmed guidance and a funded multi-year regulated capex plan. These positives are moderated by weak technical momentum (below major moving averages with a negative MACD) and ongoing balance-sheet/cash-flow and regulatory-risk considerations typical for the sector.
Positive Factors
Large multi-year regulated CapEx with self-funded plan
A multi-year $24–$28B capital plan that management expects to fund without equity issuance is a durable earnings driver: additions to regulated rate base typically produce recoverable returns via future rates, supporting steady regulated revenue and long-term EPS growth if regulatory approvals hold.
Negative Factors
Elevated leverage and sizable long-term debt
A debt-heavy capital structure (debt-to-equity ≈1.4x and mid-$20B outstanding) is common in utilities but limits financial flexibility and increases sensitivity to rising rates. Sustained leverage raises refinancing risk and interest expense pressure, constraining discretionary investments or dividend flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Large multi-year regulated CapEx with self-funded plan
A multi-year $24–$28B capital plan that management expects to fund without equity issuance is a durable earnings driver: additions to regulated rate base typically produce recoverable returns via future rates, supporting steady regulated revenue and long-term EPS growth if regulatory approvals hold.
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
$37.90B
Dividend Yield3.42%
Average Volume (3M)2.87M
Price to Earnings (P/E)18.8
Beta (1Y)0.21
Revenue Growth17.78%
EPS Growth1.50%
CountryUS
Employees13,189
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)4.04
Shares Outstanding498,420,040
10 Day Avg. Volume2,715,073
30 Day Avg. Volume2,873,279
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$85.44Price Target Upside7.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)4.37
Revenue Forecast (FY)$12.58B
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:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call presented a mix of operational and strategic positives — strong storm response, robust nuclear output, confirmed guidance, sizeable customer savings from energy-efficiency programs, substantial planned capital investment with funding capacity, and a recent regulatory win that benefits customers. Offsetting these strengths were notable near-term GAAP earnings headwinds (sharp drop in Q2 net income per share), a year-over-year swing to a net loss in PSEG Power, the end of ZEC revenues, inflation-driven higher O&M and financing costs, and regulatory risks (potential RTO incentive elimination). On balance, management emphasized stability, reaffirmed guidance, and highlighted multiple growth and customer-benefit initiatives, suggesting that the positives materially outweigh the negatives.Positive Updates
Reaffirmed Full-Year Guidance and Multi-Year Growth Outlook
Company reaffirmed 2026 full-year non-GAAP operating earnings guidance of $4.28 to $4.40 per share and reiterated a 5-year non-GAAP operating earnings CAGR outlook of 6% to 8% through 2030.
Negative Updates
Q2 GAAP Net Income Decline
GAAP net income per share fell to $0.67 in Q2 2026 from $1.17 in Q2 2025, a decline of approximately 42.7% year-over-year, indicating a notable drop in reported earnings despite non-GAAP improvement.
Read all updates
Q2-2026 Updates
Positive
Negative
Reaffirmed Full-Year Guidance and Multi-Year Growth Outlook
Company reaffirmed 2026 full-year non-GAAP operating earnings guidance of $4.28 to $4.40 per share and reiterated a 5-year non-GAAP operating earnings CAGR outlook of 6% to 8% through 2030.
Read all positive updates
Company Guidance
PSEG reaffirmed full‑year 2026 non‑GAAP operating earnings guidance of $4.28–$4.40 per share and its 5‑year non‑GAAP operating earnings CAGR outlook of 6%–8% through 2030, supported by a total 5‑year capital investment program of $24–$28 billion (PSE&G 5‑year regulated CapEx $22.5–$25.5 billion) and an expected 2026 regulated CapEx plan of ≈$4.2 billion (Q2 CapEx ≈$1 billion); the company reported Q2 net income of $0.67/share and non‑GAAP operating earnings of $0.86/share (1H: net income $2.15/share; non‑GAAP $2.41/share), noted PSEG Nuclear supplied 7.8 TWh in the quarter with a 92% capacity factor and cleared ~3,600 MW at $325/MW‑day in PJM, highlighted customer and regulatory benefits including a ~$166 million 12‑month ZEC refund, >$1 billion in annual Clean Energy Future customer savings for ~525,000 customers, a PJM transmission cost allocation prospective benefit of ~$65 million annually (≈$33 million benefit June–Dec 2026), PSE&G’s storm restoration of ~380,000 customers aided by >330 crews and >10 million proactive customer communications, maintained $3.4 billion liquidity (≈$200 million cash), issued $500 million of 4.8% senior notes due 2031, and reiterated it can fund the plan without issuing equity while planning a PSE&G base rate filing by year‑end 2026.Public Service Enterprise Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.54B | 12.17B | 10.29B | 11.24B | 9.80B | 9.72B |
| Gross Profit | 10.71B | 8.40B | 3.54B | 4.83B | 2.60B | 3.00B |
| EBITDA | 4.36B | 4.64B | 4.04B | 5.09B | 2.85B | 814.00M |
| Net Income | 2.01B | 2.11B | 1.77B | 2.56B | 1.03B | -648.00M |
Balance Sheet | ||||||
| Total Assets | 58.81B | 57.58B | 54.64B | 50.74B | 48.72B | 49.00B |
| Cash, Cash Equivalents and Short-Term Investments | 192.00M | 135.00M | 125.00M | 54.00M | 465.00M | 818.00M |
| Total Debt | 24.68B | 24.37B | 22.89B | 20.41B | 20.44B | 19.63B |
| Total Liabilities | 41.48B | 40.59B | 38.53B | 35.26B | 34.99B | 34.56B |
| Stockholders Equity | 17.33B | 16.98B | 16.11B | 15.48B | 13.73B | 14.44B |
Cash Flow | ||||||
| Free Cash Flow | 1.99B | 325.00M | -1.25B | 481.00M | -1.39B | -983.00M |
| Operating Cash Flow | 3.59B | 2.37B | 2.13B | 3.81B | 1.50B | 1.74B |
| Investing Cash Flow | -3.37B | -2.85B | -3.31B | -2.96B | -1.10B | -2.24B |
| Financing Cash Flow | -298.00M | 490.00M | 1.23B | -1.26B | -754.00M | 799.00M |
Public Service Enterprise Technical Analysis
Negative
79.21
Price Trends
79.00
Negative
79.08
Negative
79.63
Negative
Market Momentum
-1.10
Positive
41.25
Neutral
55.99
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 79.21 is above the 20-day moving average (MA) of 77.06, above the 50-day MA of 79.00, and below the 200-day MA of 79.63, indicating a bearish trend. The MACD of -1.10 indicates Positive momentum. The RSI at 41.25 is Neutral, neither overbought nor oversold. The STOCH value of 55.99 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | $36.01B | 21.25 | 12.19% | 3.19% | 8.93% | -0.59% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $40.10B | 17.81 | 8.90% | 3.07% | 9.50% | 10.40% | |
64 Neutral | $37.90B | 18.82 | 11.73% | 3.28% | 17.78% | 1.50% | |
63 Neutral | $47.34B | 16.74 | 9.61% | 3.45% | 6.56% | 3.72% | |
60 Neutral | $49.45B | 21.57 | 9.64% | 2.85% | 4.57% | 1.46% | |
58 Neutral | $50.32B | 27.23 | 10.41% | 2.17% | 10.19% | -2.59% |
* Utilities Sector Average
PEG
Public Service Enterprise
76.04
-5.39
-6.62%
ED
Consolidated Edison
108.80
11.47
11.78%
ETR
Entergy
107.84
22.13
25.81%
EXC
Exelon
45.86
3.02
7.04%
WEC
WEC Energy Group
110.52
7.65
7.43%
XEL
Xcel Energy
79.17
9.12
13.02%
Public Service Enterprise Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
PSEG Highlights Q2 2026 Results and Risk Management
Neutral
Aug 4, 2026
On August 4, 2026, PSEG held an earnings call to discuss financial results for the three- and six-month periods ended June 30, 2026, supported by a detailed second-quarter results presentation. Management emphasized the use of non-GAAP metrics suc...
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...
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.