Public Service Enterprise Group Incorporated
- Open
- 80.06
- Day high
- 80.82
- Day low
- 80.00
- Prev close
- 80.17
- Volume
- 3.5M
- Mkt cap
- $40.1B
- P/E (TTM)
- 17.7
- EPS (TTM)
- $4.54
- P/B
- 2.3
- P/S
- 3.1
- Yield
- 3.23%
- Per share
- $2.60
- ▼Insiders net selling -$746K over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
Public Service Enterprise Group Incorporated (PEG) is a Utilities company listed on NYSE. The stock is down 2% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Public Service Enterprise Group Incorporated (PEG) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PEG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $1.44 | $1.55 | +7.6% | $3.8B | +14.7% |
| Feb 26, 2026 | $0.71 | $0.72 | +1.3% | $2.9B | +8.7% |
| Apr 30, 2025 | $1.44 | $1.43 | -0.7% | $3.2B | +5.7% |
| Apr 30, 2024 | $1.31 | $1.31 | +0.0% | $2.8B | -7.5% |
| Feb 26, 2024 | $0.53 | $0.54 | +1.9% | $2.6B | +8.5% |
| Aug 1, 2023 | $0.61 | $0.70 | +14.8% | $2.4B | +24.1% |
| May 2, 2023 | $1.21 | $1.39 | +14.9% | $3.8B | +34.0% |
| Feb 21, 2023 | $0.63 | $0.64 | +1.6% | $3.1B | +47.0% |
| Oct 31, 2022 | $0.84 | $0.86 | +2.4% | $2.3B | +13.9% |
| Aug 2, 2022 | $0.65 | $0.64 | -1.5% | $2.1B | +15.0% |
| May 3, 2022 | $1.11 | $1.33 | +19.8% | $2.3B | -11.0% |
| Feb 24, 2022 | $0.66 | $0.69 | +4.5% | $3.1B | -2.1% |
PEG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | LaRossa Ralph Adirector, officer: Chair, President and CEO | Sell | 2,083 | $80.51 |
| Jun 26, 2026 | Hanemann Kim Cofficer: President and COO - PSE&G | Sell | 3,035 | $82.00 |
| Jun 2, 2026 | LaRossa Ralph Adirector, officer: Chair, President and CEO | Sell | 2,083 | $77.01 |
| May 5, 2026 | SUGG LAURA Adirector | Grant | 2,246 | — |
| May 5, 2026 | Gentoso Jamie Mdirector | Grant | 2,246 | — |
| May 5, 2026 | TOMASKY SUSANdirector | Grant | 2,246 | — |
| May 5, 2026 | Perez Ricardo Gdirector | Grant | 2,246 | — |
| May 5, 2026 | LaRossa Ralph Adirector, officer: Chair, President and CEO | Sell | 2,083 | $81.21 |
| May 5, 2026 | TANJI KENNETHdirector | Grant | 2,246 | — |
| May 5, 2026 | Williams Geisha Jdirector | Grant | 2,246 | — |
| May 5, 2026 | SURMA JOHN Pdirector | Grant | 2,246 | — |
| May 5, 2026 | Stephenson Scott Gdirector | Grant | 2,246 | $80.15 |
| May 5, 2026 | Deese Willie Adirector | Grant | 2,246 | $80.15 |
| May 5, 2026 | Smith Valerie Anndirector | Grant | 2,246 | — |
| Apr 2, 2026 | LaRossa Ralph Adirector, officer: Chair, President and CEO | Sell | 2,083 | $81.24 |
Source: PEG SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full PEG insider & 13F page →Public Service Enterprise Group Incorporated company profile
Overview
Public Service Enterprise Group Incorporated (NYSE:PEG) is a major energy company founded in 1985 and headquartered in Newark, New Jersey. The company has evolved from a traditional utility into a diversified energy enterprise primarily serving the Northeastern and Mid-Atlantic United States. PSEG operates through two main business segments: PSE&G, which provides regulated electric and gas utility services, and PSEG Power, which operates nuclear generation facilities. The company has undergone significant strategic transformation in recent years, divesting fossil fuel assets and offshore wind investments to focus on regulated utility operations and nuclear power generation, positioning itself as a cleaner energy provider while maintaining stable, predictable earnings.
Business
PSEG operates in the electric utility industry, providing essential energy services through two primary business segments that generate distinct revenue streams. PSE&G (Public Service Electric and Gas) represents the company's regulated utility operations, contributing approximately 85-90% of total earnings. This segment transmits and distributes electricity to residential, commercial, and industrial customers across New Jersey. The utility operates an extensive infrastructure network including 25,000 circuit miles of electric transmission and distribution lines, 862,000 utility poles, 56 switching stations, and 235 substations. PSE&G also distributes natural gas through 18,000 miles of gas mains and operates 58 natural gas metering and regulating stations. Beyond basic utility services, this segment invests in solar generation projects, energy efficiency programs, and appliance services for customers. PSEG Power and Other represents the company's competitive power generation business, contributing approximately 10-15% of earnings. This segment primarily operates nuclear power facilities, including the Salem and Hope Creek nuclear stations in New Jersey. The nuclear fleet has demonstrated exceptional operational performance, achieving a 99.9% capacity factor and generating over 8 terawatt hours of clean electricity annually. The segment benefits from federal nuclear production tax credits that provide revenue stability through 2032, helping to protect against volatile wholesale electricity market prices. The company has strategically exited fossil fuel generation and offshore wind investments to focus on these two core business areas, creating a more predictable and regulated earnings profile while supporting clean energy objectives.
Revenue model
PSEG generates revenue through multiple complementary business models across its two operating segments. PSE&G Regulated Utility Revenue operates under traditional utility rate regulation, where the company earns returns on invested capital through rate base growth. Customers pay for electricity transmission and distribution services, natural gas distribution, and various utility programs through regulated tariffs approved by the New Jersey Board of Public Utilities. The company recovers its infrastructure investments, operating costs, and earns an allowed return on equity through these regulated rates. PSE&G also generates revenue from energy efficiency programs, solar investments, and appliance services. PSEG Power Competitive Revenue comes from selling electricity generated by its nuclear facilities into wholesale power markets. The nuclear plants sell power through long-term contracts and spot market transactions. A significant revenue stabilizer is the federal nuclear production tax credit, which provides $15 per megawatt-hour through 2032, offering downside price protection. The company is also exploring potential long-term power purchase agreements with large customers, including data centers seeking clean energy sources. Several factors influence the company's profitability margins. Positive margin drivers include growing electricity demand from data centers and electrification trends, which support both utility rate base growth and power generation revenues. The nuclear production tax credit provides stable cash flows regardless of market prices. Infrastructure modernization investments earn regulated returns while improving system reliability. Negative margin pressures come from rising capacity market costs in the PJM regional grid, which increase customer electricity bills and create affordability concerns. Interest rate increases affect the cost of capital for infrastructure investments. Extreme weather events can increase storm restoration costs, though these are typically recoverable through rate mechanisms.
Competitive moat
PSEG possesses a moderate to strong economic moat primarily derived from its regulated utility monopoly position and strategic nuclear generation assets. The company's strongest moat comes from PSE&G's regulated utility franchise, which provides exclusive rights to serve electric and gas customers across its New Jersey service territory. This natural monopoly is protected by regulatory barriers that prevent competition in transmission and distribution services. The utility earns regulated returns on billions of dollars of essential infrastructure that would be extremely difficult and expensive for competitors to duplicate. Rate base growth through infrastructure investments provides predictable earnings growth, while regulatory cost recovery mechanisms protect against most operational risks. PSEG Power's nuclear generation assets represent another significant competitive advantage. The company operates large-scale nuclear facilities that generate clean, carbon-free electricity with very low marginal operating costs. These plants have decades of remaining useful life and benefit from federal production tax credits through 2032. The high capital costs and regulatory complexity of building new nuclear plants create substantial barriers to entry. Additionally, growing demand for clean energy from corporate customers, particularly data centers, may provide opportunities for premium-priced long-term contracts. However, the moat faces some challenges. The competitive power generation business is subject to volatile wholesale electricity prices and capacity market dynamics. Rising capacity costs in the PJM market are creating customer affordability pressures that could lead to regulatory or policy changes. While the nuclear fleet provides clean energy advantages, it also faces long-term uncertainties around license renewals and potential policy shifts. The company's geographic concentration in New Jersey creates both regulatory stability and concentration risk.
Risks & safety
PSEG demonstrates a moderate margin of safety with manageable financial risks but some liquidity concerns. Liquidity and Solvency: 1. Current ratio of 0.82 indicates potential short-term liquidity pressure, with current liabilities exceeding current assets 2. Cash and short-term investments of $894 million provide limited liquidity buffer 3. Debt-to-equity ratio of 1.44 shows moderate leverage typical for utilities 4. Strong operating cash flow of $1.0 billion in Q1 2025 supports debt service capabilities 5. No equity issuance planned through 2029, indicating confidence in cash generation Valuation Metrics: 1. Price-to-earnings ratio of 17.4x appears reasonable for a utility with growth prospects 2. EV/EBITDA of 12.9x suggests moderate valuation relative to cash generation 3. Price-to-book ratio of 2.5x reflects premium to tangible assets but typical for quality utilities 4. Graham number of $29.58 suggests potential overvaluation using conservative metrics Other Considerations: 1. Regulated utility business provides earnings stability and predictability 2. Nuclear production tax credits offer revenue protection through 2032 3. Large capital spending requirements may pressure free cash flow in near term 4. Growing data center demand could provide upside revenue opportunities
Recent development
PSEG has undergone significant strategic transformation over the past few years, focusing on core regulated utility operations and nuclear generation while divesting non-core assets. Strategic Portfolio Rationalization: The company completed a major strategic pivot by selling fossil fuel generation assets and exiting offshore wind investments, including the Ocean Wind 1 project. This transformation increased the regulated utility contribution to approximately 90% of earnings, creating a more predictable and stable business profile. The divestiture strategy aimed to reduce earnings volatility and focus capital on regulated infrastructure investments. Nuclear Fleet Optimization: PSEG retained its nuclear generation assets and benefited from the Inflation Reduction Act's nuclear production tax credits, which provide $15 per megawatt-hour through 2032. The company is exploring thermal upgrades at its Salem nuclear units that could add approximately 200 megawatts of capacity. Management is actively pursuing long-term power purchase agreements with large customers, particularly data centers seeking clean energy sources. Infrastructure Modernization and Growth: The company has dramatically increased its capital investment program, with 2024-2028 spending plans of $22.5-$26 billion focused on infrastructure replacement and modernization. Key initiatives include completing the Advanced Metering Infrastructure program, implementing the $2.9 billion Clean Energy Future Energy Efficiency II program, and pursuing gas system modernization. The company settled its first electric and gas rate case, securing $505 million in additional annual revenues. Data Center and Large Load Opportunities: PSEG has experienced explosive growth in large load interconnection requests, from 400 MW in early 2024 to over 6,400 MW currently, primarily driven by data center development. The company expects 10-20% of these requests to convert to actual connections, representing significant growth opportunities for both utility infrastructure investment and potential nuclear power sales.
PEG company profile · for informational purposes only — not investment advice.
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