Public Service Enterprise Group (PEG) Research

Forward Estimates

EPS Estimates

Current Qtr

$0.82

$0.69$0.91

vs $0.77+6.4%

12 analysts

Next Qtr

$1.15

$0.78$1.34

vs $1.13+2.0%

12 analysts

Current Yr

$4.38

$4.33$4.55

vs $4.05+8.1%

22 analysts

Next Yr

$4.70

$4.60$4.80

vs $4.38+7.3%

22 analysts

Revenue Estimates

Current Qtr

$2.86B

$2.66B$3.14B

vs $2.81B+2.0%

4 analysts

Next Qtr

$3.27B

$3.17B$3.42B

vs $3.23B+1.3%

4 analysts

Current Yr

$12.61B

$10.97B$14.05B

vs $12.17B+3.6%

14 analysts

Next Yr

$13.02B

$11.16B$14.93B

vs $12.61B+3.3%

15 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for PEG on EDGAR.

PEG filing events and research context
Filed	Item	Context
May 5, 2026	mda_quarterly	PSEG reported Q1 2026 net income of $741 million and diluted EPS of $1.48, increasing from $589 million and $1.18 in the prior year. This growth was primarily driven by PSE&G’s transmission and distribution clause programs and PSEG Power’s increased gas sales and capacity revenues. The company is targeting a regulated rate base compound annual growth rate of 6.0% to 7.5% through 2030, with estimated regulated capital investments between $22.5 billion and $25.5 billion. Key initiatives include the $2.9 billion CEF-EE II energy efficiency program and the $1.05 billion GSMP III gas main replacement project. PSEG Power’s nuclear fleet achieved a 95.5% capacity factor, utilizing Production Tax Credits for downside protection through 2032 and planning power uprates at Salem Units 1 and 2. PSEG LI extended its operations services agreement with LIPA through 2030. Key financial risks include the potential loss of a 50 basis point ROE adder for PJM membership, which would reduce annual net income by approximately $40 million, and significant environmental liabilities related to Superfund sites in the Newark Bay Complex. The company continues to align its strategy with New Jersey’s Energy Master Plan to support decarbonization and grid resiliency.
Feb 26, 2026	business	PSEG operates as a public utility holding company primarily through PSE&G, which provides regulated electric and gas transmission and distribution in New Jersey, and PSEG Power, a merchant nuclear generator and fuel supplier. The company also manages Long Island’s T&D system via PSEG LI. Recent growth is driven by T&D infrastructure investments, the 2024 distribution base rate case settlement, and rising energy and capacity prices within the PJM market. Strategic priorities include modernizing the grid to meet increasing demand and maximizing the value of carbon-free nuclear output, supported by Production Tax Credits (PTCs) through 2032 and a planned power uprate at the Salem facility. Key financial risks include interest rate volatility affecting long-term financing and increased bad debt expenses resulting from New Jersey’s summer shutoff moratoriums and extended deferred payment arrangements. Additionally, PSEG faces regulatory uncertainty regarding decarbonization policies and BPU/FERC rulings, increasing cybersecurity threats to critical infrastructure, and tax complexities associated with the Inflation Reduction Act’s corporate alternative minimum tax. The company continues to deploy capital toward transmission reliability, clean energy programs, and the maintenance of its nuclear fleet to ensure long-term earnings predictability.
Feb 26, 2026	mda	PSEG operates through its regulated utility, PSE&G, and its merchant nuclear business, PSEG Power. Net income increased to $2.11 billion in 2025. The regulated rate base grew to $36 billion, with projected capital investments between $22.5 billion and $25.5 billion from 2026 to 2030, targeting a compound annual growth rate of 6.0% to 7.5%. Key growth drivers include the $2.9 billion CEF-EE II energy efficiency program and the $1.05 billion GSMP III gas main replacement project. PSEG Power focuses on the Salem and Hope Creek nuclear plants, utilizing Production Tax Credits through 2032 to mitigate earnings volatility and pursuing 20-year license extensions. Operational enhancements include extending Hope Creek’s refueling cycle to 24 months and planned power uprates at Salem. Financial risks include the potential loss of a 50 basis point FERC transmission ROE adder, which would reduce annual net income by approximately $40 million, and ongoing Superfund remediation liabilities in the Newark Bay Complex. Additionally, PSEG LI faces litigation over its contract extension, and the company has shifted its net zero greenhouse gas emissions goal from 2030 to 2050.

Filed

Item

Context

May 5, 2026

mda_quarterly

PSEG reported Q1 2026 net income of $741 million and diluted EPS of $1.48, increasing from $589 million and $1.18 in the prior year. This growth was primarily driven by PSE&G’s transmission and distribution clause programs and PSEG Power’s increased gas sales and capacity revenues. The company is targeting a regulated rate base compound annual growth rate of 6.0% to 7.5% through 2030, with estimated regulated capital investments between $22.5 billion and $25.5 billion. Key initiatives include the $2.9 billion CEF-EE II energy efficiency program and the $1.05 billion GSMP III gas main replacement project. PSEG Power’s nuclear fleet achieved a 95.5% capacity factor, utilizing Production Tax Credits for downside protection through 2032 and planning power uprates at Salem Units 1 and 2. PSEG LI extended its operations services agreement with LIPA through 2030. Key financial risks include the potential loss of a 50 basis point ROE adder for PJM membership, which would reduce annual net income by approximately $40 million, and significant environmental liabilities related to Superfund sites in the Newark Bay Complex. The company continues to align its strategy with New Jersey’s Energy Master Plan to support decarbonization and grid resiliency.

Feb 26, 2026

business

PSEG operates as a public utility holding company primarily through PSE&G, which provides regulated electric and gas transmission and distribution in New Jersey, and PSEG Power, a merchant nuclear generator and fuel supplier. The company also manages Long Island’s T&D system via PSEG LI. Recent growth is driven by T&D infrastructure investments, the 2024 distribution base rate case settlement, and rising energy and capacity prices within the PJM market. Strategic priorities include modernizing the grid to meet increasing demand and maximizing the value of carbon-free nuclear output, supported by Production Tax Credits (PTCs) through 2032 and a planned power uprate at the Salem facility. Key financial risks include interest rate volatility affecting long-term financing and increased bad debt expenses resulting from New Jersey’s summer shutoff moratoriums and extended deferred payment arrangements. Additionally, PSEG faces regulatory uncertainty regarding decarbonization policies and BPU/FERC rulings, increasing cybersecurity threats to critical infrastructure, and tax complexities associated with the Inflation Reduction Act’s corporate alternative minimum tax. The company continues to deploy capital toward transmission reliability, clean energy programs, and the maintenance of its nuclear fleet to ensure long-term earnings predictability.

Feb 26, 2026

mda

PSEG operates through its regulated utility, PSE&G, and its merchant nuclear business, PSEG Power. Net income increased to $2.11 billion in 2025. The regulated rate base grew to $36 billion, with projected capital investments between $22.5 billion and $25.5 billion from 2026 to 2030, targeting a compound annual growth rate of 6.0% to 7.5%. Key growth drivers include the $2.9 billion CEF-EE II energy efficiency program and the $1.05 billion GSMP III gas main replacement project. PSEG Power focuses on the Salem and Hope Creek nuclear plants, utilizing Production Tax Credits through 2032 to mitigate earnings volatility and pursuing 20-year license extensions. Operational enhancements include extending Hope Creek’s refueling cycle to 24 months and planned power uprates at Salem. Financial risks include the potential loss of a 50 basis point FERC transmission ROE adder, which would reduce annual net income by approximately $40 million, and ongoing Superfund remediation liabilities in the Newark Bay Complex. Additionally, PSEG LI faces litigation over its contract extension, and the company has shifted its net zero greenhouse gas emissions goal from 2030 to 2050.

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PEG filing events and research context

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