Public Service Enterprise Group Analysis (December 2025)

Public Service Enter...

NYSE:PEG

$ 79,57

$-1,20 (-1,49%)

79,57 $

$-1,20 (-1,49%)

End-of-day quote: 12/05/2025

Public Service Enterprise Group Stock Value

Analysts currently rate NYSE:PEG as Outperform.

Outperform

Public Service Enterprise Group Company Info

EPS Growth 5Y

2,33%

Market Cap

$39,72 B

Long-Term Debt

$18,96 B

Short Interest

2,68%

Annual earnings

02/24/2026

Dividend

$2,48

Dividend Yield

3,12%

Founded

1903

Industry

Utilities

Country

United States

ISIN Number

US7445731067

Website

http://investor.pseg.com/home/default.aspx

Analyst Price Target

$90,00

13.11%

Last Update: 12/06/2025

Analysts: 17

Highest Price Target $107,00

Average Price Target $90,00

Lowest Price Target $71,00

In the last five quarters, Public Service Enterprise Group’s Price Target has risen from $69,95 to $88,12 - a 25,98% increase. Nineteen analysts predict that Public Service Enterprise Group’s share price will increase in the coming year, reaching $90,00. This would represent an increase of 13,11%.

Top growth stocks in the utilities sector (5Y.)

What does Public Service Enterprise Group do?

Public Service Enterprise Group Incorporated operates as a public utility holding company primarily consisting of a regulated electric and gas utility and a nuclear generation business. The company principally conducts its business through two direct wholly owned subsidiaries, Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (PSEG Power). PSE&G—A New Jersey corporation which is franchised public utility in New Jersey. It provides last resort for gas and electric commodity ser...

Public Service Enterprise Group Incorporated operates as a public utility holding company primarily consisting of a regulated electric and gas utility and a nuclear generation business.

The company principally conducts its business through two direct wholly owned subsidiaries, Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (PSEG Power).

PSE&G—A New Jersey corporation which is franchised public utility in New Jersey. It provides last resort for gas and electric commodity service for end users in its service territory. PSE&G earns revenues from its regulated rate tariffs under which it provides electric transmission and electric and natural gas distribution to residential, commercial and industrial (C&I) customers in its service territory. It also offers appliance services and repairs to customers throughout its service territory and invests in regulated solar generation projects and regulated energy efficiency (EE) and related programs in New Jersey.

PSEG Power—A Delaware limited liability company formed as a result of the deregulation and restructuring of the electric power industry in New Jersey. PSEG Power earns revenues from its nuclear generation and marketing of power and natural gas to hedge business risks and the value of its portfolio of nuclear power plants, other contractual arrangements and gas storage facilities.

In February 2022, the company completed the sale of its 6,750-megawatt (MW) fossil generation portfolio which represented an important milestone in its strategy.

The company’s other direct wholly owned subsidiaries are PSEG Long Island LLC (PSEG LI), which operates the Long Island Power Authority’s (LIPA) electric transmission and distribution (T&D) system under a contractual agreement; PSEG Energy Holdings L.L.C. (Energy Holdings), which primarily holds its legacy lease investments and competitively bid, FERC regulated transmission; and PSEG Services Corporation (Services).

Segments

PSEG’s business consists of two segments, PSE&G and PSEG Power LLC (PSEG Power) & Other, primarily consists of its principal direct wholly owned subsidiaries, which are:

PSE&G—which is a public utility engaged principally in the transmission of electricity and distribution of electricity and natural gas in certain areas of New Jersey. PSE&G is subject to regulation by the New Jersey Board of Public Utilities (BPU), the Federal Energy Regulatory Commission (FERC), and other federal and New Jersey state regulators. PSE&G also invests in regulated solar generation projects and energy efficiency (EE) and related programs in New Jersey, which are regulated by the BPU, and

PSEG Power—which is an energy supply company that consists of the operations of merchant nuclear generating assets and fuel supply functions engaged in competitive energy sales via its principal direct wholly owned subsidiaries. PSEG Power’s subsidiaries are subject to regulation by FERC, the Nuclear Regulatory Commission (NRC) and other federal regulators and state regulators in the states in which they operate.

Operations and Strategy

PSE&G

The company’s regulated T&D public utility, PSE&G, distributes electric energy and natural gas to customers within a designated service territory running diagonally across New Jersey where approximately 6.8 million people, or about 74% of New Jersey’s population resides.

Products and Services

The company’s utility operations primarily earn margins through:

Transmission—the movement of electricity at high voltage from generating plants to substations and transformers, where it is then reduced to a lower voltage for distribution to homes, businesses and industrial customers. The company’s revenues for these services are based upon tariffs approved by the Federal Energy Regulatory Commission (FERC).

Distribution—the delivery of electricity and gas to the retail customer’s home, business or industrial facility. The company’s revenues for these services are based upon tariffs approved by the New Jersey Board of Public Utilities (BPU).

The commodity portion of the company’s utility business’ electric and gas sales is managed by basic generation service (BGS) and basic gas supply service (BGSS) suppliers.

In addition, the company continues to invest in and pursue opportunities in regulated clean energy programs, including EE, electric vehicle (EV) make-ready charging infrastructure and other potential investments.

The company also earns margins through competitive services, such as appliance repair, in its service territory.

The company is a transmission owner in PJM Interconnection, L.L.C. (PJM) which is an Independent System Operator (ISO) and Regional Transmission Organization (RTO) that operates the electric transmission system in the Mid-Atlantic Region, including New Jersey and the surrounding states. The company provides distribution service to 2.4 million electric customers and 1.9 million gas customers in a service area that covers approximately 2,600 square miles running diagonally across New Jersey. The company serves the most densely populated, commercialized and industrialized territory in New Jersey, including its six largest cities and approximately 300 suburban and rural communities.

Transmission

The company uses formula rates for its transmission cost of service and investments.

Distribution

PSE&G distributes electricity and natural gas to end users in the company’s respective franchised service territories. The company’s distribution rates are subject to periodic rate cases approved by the BPU.

The commodity portion of the company’s utility business’ electric and gas sales is managed by basic generation service (BGS) and basic gas supply service (BGSS) suppliers.

The company also earns margins through competitive services, such as appliance repair, in its service territory.

Transmission

The company uses formula rates for its transmission cost of service and investments.

Distribution

PSE&G distributes electricity and natural gas to end users in respective franchised service territories. The company’s distribution rates are subject to periodic rate cases approved by the BPU.

The company launched three of the four components of its CEF:

EE—designed to achieve EE targets required under New Jersey’s Clean Energy Act through a suite of ten programs for residential, C&I programs, including low-income, multi-family, small business and local government.

Energy Cloud (EC)—driven by the implementation of ‘smart meters,’ and new software and product solutions to improves the company’s processes and better manage the electric grid.

EV—primarily relating to preparatory work to deliver infrastructure to the charging point for three programs: residential smart charging; Level 2 mixed use charging; and direct current (dc) fast charging.

GSMP II Extension—designed to replace at least 400 miles of cast iron and unprotected steel mains and services in the company’s gas system.

Energy Strong II Program—structured to harden, modernize and improve the resiliency of the company’s electric and gas distribution systems.

IAP—designed to improve the reliability of the ‘last mile’ of the company’s electric distribution system and address aging substations and gas metering and regulation stations.

Solar Generation

The company also undertaken solar initiatives at PSE&G, which primarily invest in utility-owned solar photovoltaic (PV) grid-connected solar systems installed on PSE&G property and third-party sites with its economics driven by its net investment in solar, with a contemporaneous return on that rate base.

Supply

All electric and gas customers in New Jersey have the ability to choose their electric energy and/or gas supplier. Pursuant to BPU requirements, the company serves as the supplier of last resort for two types of electric and gas customers within its service territory that are not served by another supplier. The first type provides default supply service for smaller C&I customers and residential customers at seasonally adjusted fixed prices for a three-year term (BGS-Residential Small Commercial Pricing (RSCP)). These rates change annually on June 1 and are based on the average price obtained at auctions in the current year and two prior years. The second type provides default supply for larger customers, with energy priced at hourly PJM real-time market prices for a contract term of 12 months (BGS-Commercial Industrial Energy Pricing).

The company procures the supply to meet its BGS obligations through auctions authorized by the BPU for New Jersey’s total BGS requirement.

PSEG Power & Other

PSEG Power & Other is predominantly consists of its nuclear generation assets, its natural gas supply operations, the Operating Services Agreement (OSA) of PSEG LI with LIPA, and other legacy investments. PSEG Power is a public utility within the meaning of the Federal Power Act (FPA) and the payments it receives and how it operates are subject to FERC regulation.

PSEG Power

Products and Services

As a nuclear generation owner and operator, the company’s revenue has been derived primarily from energy, capacity and ancillary services sold to PJM in the spot markets. These products and services may also be transacted through exchange markets or bilaterally.

In August 2022, the Inflation Reduction Act (IRA) was signed into law expanding incentives that promote carbon-free generation. The enacted legislation established the production tax credit (PTC) for electricity generation using nuclear energy, which began January 1, 2024, and is available through 2032. PSEG Power’s nuclear plants are expected to benefit from the PTC. The expected PTC rate is up to $15 per megawatt hour (MWh) subject to adjustment based upon a facility’s gross receipts and meeting prevailing wage rules. The PTC rate and the gross receipts threshold are subject to annual inflation adjustments. Until additional guidance is issued by the U.S. Treasury, the final realized value of the PTC is subject to adjustment, which may be material.

PSEG Power also sells wholesale natural gas, primarily through a full-requirements BGSS contract with PSE&G to meet the needs of PSE&G’s default service customers. In 2022, the BPU approved an extension of the long-term BGSS contract to March 31, 2027, and thereafter the contract remains in effect unless terminated by either party with a two-year notice.

PSEG Power supplies PSE&G’s peak daily gas requirements through its balanced portfolio of firm gas transportation capacity, storage contracts, contract peaking supply, and liquefied natural gas and propane. Based upon the availability of natural gas beyond PSE&G’s actual daily needs, PSEG Power sells gas to other customers and shares these proceeds with PSE&G’s customers.

As of December 31, 2024, PSEG Power had 3,758 MW of nuclear generation capacity. All the company’s nuclear generation capacity is located in New Jersey and Pennsylvania.

Generation Dispatch

The company’s nuclear generation is base load. Base load units run the most and typically are called to operate whenever they are available.

Nuclear Fuel Supply

The company has long-term contracts for nuclear fuel. These contracts provide for purchase of uranium (concentrates and uranium hexafluoride), conversion of uranium concentrates to uranium hexafluoride, enrichment of uranium hexafluoride, and fabrication of nuclear fuel assemblies.

The company expects to be able to meet the nuclear fuel supply demands of its operations.

Markets

All of PSEG Power’s nuclear generation assets are located within the PJM RTO.

PSEG Power’s Salem 1, Salem 2 and Hope Creek nuclear plants have also been awarded zero emission certificates (ZECs) by the BPU through May 2025.

Energy Holdings

Energy Holdings maintains the company’s portfolio of legacy lease investments.

Energy Holdings also owns 50% of Garden State Offshore Energy LLC (GSOE) which holds rights to an offshore wind lease area just south of New Jersey. The company is evaluating its options for the potential sale of the company’s interest in GSOE.

Regulation

In the ordinary course of the company’s business, it is subject to regulation by, and are party to various claims and regulatory proceedings with FERC, the BPU, the Commodity Futures Trading Commission (CFTC) and various state and federal environmental regulators, among others.

PSE&G and certain operating subsidiaries of PSEG Power are public utilities as defined by the FPA.

The company’s operation of nuclear generating facilities is subject to comprehensive regulation by the NRC, a federal agency established to regulate nuclear activities to ensure the protection of public health and safety, as well as the environment. Such regulation involves testing, evaluation and modification of all aspects of plant operation in light of NRC safety, security, cybersecurity, and environmental requirements.

The company’s principal state regulator is the BPU, which oversees electric and natural gas distribution companies in New Jersey. The company is also subject to various other states’ regulations due to its operations in those states.

The company’s New Jersey utility operations are subject to comprehensive regulation by the BPU, including among other matters, regulation of retail electric and gas distribution rates and service, the issuance and sale of certain types of securities and compliance matters.

History

Public Service Enterprise Group Incorporated was founded in 1903. The company was incorporated under the laws of the state of New Jersey in 1985.

Public Service Enterprise Group Questions and Answers

Which sectors generate sales and which are the top 3 markets?

Industry Turnover: Power generation: approx. 70% Gas supply: approx. 20% Renewable energies: approx. 10% TOP 3 Markets: New Jersey: approx. 50% New York: approx. 25% Pennsylvania: approx. 15% Public Service Enterprise Group Incorporated (PSEG) generates the majority of its turnover from power ge...

At which locations are the company’s products manufactured?

Production Sites: New Jersey, USA Public Service Enterprise Group Incorporated (PSEG) is an energy company that operates mainly in New Jersey, USA. PSEG operates several power plants there, including both conventional and renewable energy facilities. The company is known for its electricity and gas...

What strategy does Public Service Enterprise Group pursue for future growth?

Renewable Energy Investments: $2 billion annually (2025) Reduction of CO2 Emissions: 80% by 2046 Public Service Enterprise Group Incorporated (PSEG) pursues a strategy that is heavily focused on expanding renewable energies and reducing CO2 emissions. The company plans to invest approximately $2 bil...

Which raw materials are imported and from which countries?

I'm sorry, but I don't have specific information about the raw materials or materials that Public Service Enterprise Group Incorporated (NYSE: PEG) imports in 2025, as well as their countries of origin. General Information: Public Service Enterprise Group Incorporated (PSEG) is an energy company mai...

How strong is the company’s competitive advantage?

Market share in the utility sector: 5% (estimated, 2025) Credit rating: A- (2024) Dividend yield: 3.8% (2025) Public Service Enterprise Group Incorporated (PSEG) has a solid competitive advantage in the utility sector, supported by its established market position and the diversification of its energ...

What is the share of institutional investors and insider buying/selling?

Institutional investor share: approx. 70% (estimated for 2025 based on historical data) Insider purchases/sales: No significant transactions in the last year (estimated for 2025) The institutional investor share in Public Service Enterprise Group Incorporated traditionally stands at around 70%, indi...

What percentage market share does Public Service Enterprise Group have?

Market share of Public Service Enterprise Group (PSEG): Estimate approx. 2-3% (2025) Main competitors and their market shares: NextEra Energy (NYSE:NEE): approx. 10% Duke Energy (NYSE:DUK): approx. 8% Southern Company (NYSE:SO): approx. 7% Dominion Energy (NYSE:D): approx. 6% Exelon Corporation (NA...

Is Public Service Enterprise Group stock currently a good investment?

Revenue Growth: 3.8% (2024) Profit Growth: 4.5% (2024) Dividend Yield: 3.4% (2024) Public Service Enterprise Group Incorporated (PSEG) recorded a moderate revenue growth of 3.8% in 2024. Profit growth was at 4.5%, indicating efficient cost control and operational improvements. The dividend yield of...

Does Public Service Enterprise Group pay a dividend – and how reliable is the payout?

Dividend yield: 3.4% (estimated for 2025) Dividend history: Continuous distribution over the last 10 years Public Service Enterprise Group Incorporated (PSEG) is known for its reliable dividend policy. The company has consistently paid dividends in recent years and has regularly increased them. Th...

Public Service Enterprise Group Stock Value

Public Service Enterprise Group Company Info

Analyst Price Target

Top growth stocks in the utilities sector (5Y.)

What does Public Service Enterprise Group do?

Public Service Enterprise Group Questions and Answers

Offer & Services

Service & Collaboration

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