Public Service Enterprise Group Inc (PEG)

In October 2025, PSE&G's new electric and gas base distribution rates went into effect, contributing to higher gas revenues in the fourth quarter of 2025. In November 2025, Public Service Enterprise Group reported third-quarter earnings that surpassed Wall Street estimates, driven by higher electric and gas rates and increased power demand in New Jersey, and narrowed its full-year adjusted earnings outlook. In February 2026, PSEG's stock rose approximately 8% in 30 days, finishing near $86 per share, as investors showed renewed interest in regulated utilities. On February 26, 2026, PSEG announced its 2025 full-year results, reporting net income of $4.22 per share and non-GAAP operating earnings of $4.05 per share, initiated its 2026 non-GAAP operating earnings guidance of $4.28-$4.40 per share, increased its regulated 5-year capital spending plan to $22.5 billion - $25.5 billion through 2030, raised its long-term non-GAAP earnings growth outlook to 6%-8% through 2030, and increased its quarterly common dividend by $0.16 per share. In April 2026, Public Service Enterprise Group increased its 2026–2030 capital program from $24.00 billion to $28.00 billion and raised its long-term adjusted earnings growth outlook, driven by rising power demand and energy efficiency efforts in New Jersey.

Demand for Public Service Enterprise Group's products and services, particularly gas and electricity, exhibits seasonality. PSE&G's results reflect higher gas revenues in the fourth quarter, indicating increased demand during the colder winter months. The company also experiences increased electricity demand during extreme weather events, such as intense heat waves. Operational highlights from winter 2025-2026 included a seasonal gas send-out peak and strong electrical system performance during severe winter weather.

Public Service Enterprise Group, Inc. (PSEG) is a holding company that provides electric and gas services through its main segments: Public Service Electric & Gas Co. (PSE&G) and PSEG Power. PSE&G is a regulated utility that transmits and distributes electricity and natural gas to customers in New Jersey, invests in solar generation projects and energy efficiency programs, and offers appliance services and repairs. PSEG Power focuses on nuclear generation businesses and supplies power and natural gas to nuclear power plants, also engaging in wholesale energy, fuel supply, and energy transacting functions. The company's major products and services include energy, capacity, ancillary services, emissions allowances, and congestion credits.

PSEG's operations are primarily concentrated in New Jersey, where PSE&G serves approximately 2.4 million electric customers and 1.9 million gas customers across a 2,600 square mile service territory, covering about 74% of the state's population. PSEG Power's nuclear generation fleet is located in New Jersey and Pennsylvania. The company also operates the Long Island Power Authority (LIPA) system under a contract extension through 2030. PSEG operates in the energy industry primarily across the Northeastern and Mid-Atlantic United States.

In the past year, Public Service Enterprise Group has received significant positive recognition for its corporate citizenship, community impact, and customer service. In March 2026, PSEG was honored with three national distinctions, including being recognized as the JUST Capital 2026 Industry Leader for Utilities. In November 2025, PSE&G received the 2025 ReliabilityOne® Awards for Outstanding System Resiliency, Outstanding Customer Engagement, and for Outstanding Metropolitan Service Area Reliability Performance in the Mid-Atlantic Region. PSE&G also ranked #1 in Customer Satisfaction among Large Electric Utilities in the East Region in the J.D. Power 2025 U.S. Electric Utility Residential Customer Satisfaction Study. Additionally, in November 2025, PSEG Long Island and PSE&G were the two highest-ranked utilities in customer satisfaction among large electric utility business customers in the East, according to the J.D. Power 2025 Electric Utility Business Customer Satisfaction Study. Earlier in 2025, Escalent named PSE&G one of the 2025 Most Trusted Brands, and customers rated it the Most Appealing Brand among Residential Electric and Gas Utilities in the East in a J.D. Power Study.

PSEG's ownership is predominantly institutional, with major asset management firms, mutual funds, and index funds holding significant portions of its stock. As of December 2025, 1,246 institutional investors held active 13F positions, owning 75.0% of the outstanding stock. Vanguard Group Inc. is the largest individual institutional shareholder, holding 67.5 million shares, representing 13.47% of outstanding stock as of December 31, 2025. Insider ownership remains modest, typically under 1% of the company, and retail investors hold approximately 23% of the company's stake.