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Public Service Enterprise Group Incorporated
S&P 500
🏹 Trader: 🎯 Near 52W High View all →
$36.2B
Market Cap
19.0
P/E
2.46
PEG
6.6%
ROCE
12.8%
ROE
1.37
D/E
24.5%
OPM
-13.4%
% from 52W High
27
α RS
🔍 PEG is showing a high-conviction setup because it matches 7 of 37 tracked screener presets, Sector RRG has Utilities in the Improving quadrant with the trail still rolling over, and it's within 13.4% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction RRG 52W High
Sources
Conviction 7/37 · Utilities in Improving quadrant · 13.4% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for PEG including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility, and nuclear generation businesses in the United States.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding PEG
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 9.5K $769K 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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Good quarter Investor Presentation One-Pager? Q2 2026
Net Income
$334M
-43% YoY
Non-GAAP Operating Earnings
$425M
+11% YoY
GAAP EPS
$0.67
-43% YoY
Non-GAAP EPS
$0.86
+12% YoY
What Went Right
  • Restored ~380,000 customers after July 4 storms, nearly all within 24 hours.
  • PSE&G Q2 net income/non-GAAP operating earnings rose to $342M from $332M.
  • PJM transmission cost allocation change delivers ~$65M annual customer benefit, $33M through 2026.
What to Watch
  • PSE&G expects to file a base rate case by year-end 2026, signaling more frequent rate cases and potential regulatory lag.
  • Elimination of the 50bp RTO incentive could create a $40M annual net income / $0.08 per share headwind from Jan 2027.
  • PJM capacity auction cleared at the $325/MW-day collar and was 6.8GW short of the reliability requirement.
Management Guidance
  • Full-year 2026 non-GAAP operating earnings guidance maintained at $4.28-$4.40 per share.
  • Five-year non-GAAP operating earnings growth outlook of 6%-8% through 2030 reaffirmed.
  • 2026 regulated capital investment plan of ~$4.2B; five-year total capital plan of $24B-$28B funded without new equity or asset sales.
Investor Lens
The thesis is broadly intact: management reaffirmed full-year 2026 guidance and the 6%-8% EPS growth outlook through 2030, backed by a $24B-$28B capital plan with no equity needs. The key swing factor is regulatory reset risk from PSE&G's expected base rate case and New Jersey's EO1 process, though management frames this as an opportunity for transparency and performance-based mechanisms. Power upside remains tied to PJM's RBP bilateral process and potential multi-year nuclear contracting, with management emphasising utility-like returns only. Balance-sheet strength and $3.4B liquidity support the dividend-growth outlook.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Solid quarter: non-GAAP EPS $0.86, guidance reaffirmed.
Revenue
Top-line revenue was not disclosed on the call; PSEG discussed results on an earnings-per-share and segment-earnings basis.
Profitability
Net income was $334M ($0.67 per share) versus $585M ($1.17 per share) in Q2 2025, but non-GAAP operating earnings rose to $425M ($0.86 per share) from $384M ($0.77 per share). Segment performance improved on utility investment and higher Power net energy margin, partly offset by the absence of ZEC revenues.
Margins
Operating margin was not explicitly quantified. Distribution margin contributed $0.05 per share YoY, net energy margin at Power added $0.08 per share YoY, while higher inflation-driven O&M, depreciation and interest expense were partial offsets.
Balance Sheet
Liquidity was $3.4B including ~$200M cash. PSEG issued $500M of 4.8% senior notes due 2031 and prepaid a $500M term loan; variable-rate debt was ~3% of total debt. The five-year $24B-$28B capex plan is funded without new equity or asset sales.
Key Risks
PSE&G plans a base rate case filing by year-end 2026. The RTO incentive loss is estimated at $40M annually / $0.08 per share from January 2027. PJM's capacity auction cleared at the collar and was 6.8GW short of the reliability target, highlighting resource adequacy pressure.
Outlook
Management reaffirmed 2026 non-GAAP operating earnings guidance of $4.28-$4.40 per share and the 6%-8% EPS growth outlook through 2030. PSE&G also reaffirmed ~$4.2B of 2026 regulated capital investment and expects to file its base rate case by year-end 2026.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-04
Q2 2026 saw strong operational and financial performance, with non-GAAP operating earnings up year-over-year and full-year guidance reaffirmed. Major investments in reliability, energy efficiency, and clean energy continue, while regulatory and market changes present both risks and opportunities.
Q1 2026 Q1 2026 2026-05-05
Q1 2026 saw higher earnings and strong reliability despite severe winter weather, with continued investment in infrastructure and customer programs. Guidance and long-term growth targets were reaffirmed, and regulatory actions are expected to benefit customers.
Q4 2025 Q4 2025 2026-02-26
Net income and non-GAAP operating earnings rose year-over-year, with a 6% dividend increase and a 7% midpoint guidance boost for 2026. Capital investment plans were expanded, and operational excellence was recognized with top reliability and customer satisfaction awards.
Q3 2025 Q3 2025 2025-11-03
Q3 and year-to-date results were strong, driven by new rates and capital investments, with 2025 non-GAAP operating earnings guidance raised to $4-$4.06 per share. The company reaffirmed a 5%-7% long-term earnings growth outlook and highlighted ongoing grid modernization, nuclear optimization, and robust liquidity.
Q2 2025 Q2 2025 2025-08-05
Q2 2025 saw strong financial and operational results, with net income and non-GAAP earnings up over 20% year-over-year, driven by new rates and higher nuclear output. The company reaffirmed 2025 guidance and a robust five-year capital plan, while addressing resource adequacy and customer affordability.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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Information Sources:
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