Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility, and nuclear generation businesses in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs. The PSEG Power segment engages in nuclear generation businesses; and supplies power and natural gas to nuclear power plants. As of December 31, 2025, it had electric transmission and distribution system of 25,000 circuit miles and 871,000 poles; 58 switching stations with an installed capacity of 40,000 megavolt-amperes (MVA), and 238 substations with an installed capacity of 10,890 MVA; four electric distribution headquarters and five electric sub-headquarters; 18,000 miles of gas mains, 12 gas distribution headquarters, two sub-headquarters, and two meter shop, as well as 54 natural gas metering and regulating stations; and 158 MegaWatts defined conditions of installed PV solar capacity. The company was founded in 1903 and is based in Newark, New Jersey.
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PSEG Reaffirms 2026 Earnings Guidance and Plans Year-End Rate Case Filing
Public Service Enterprise Group reported second-quarter 2026 net income of $0.67 per share and non-GAAP operating earnings of $0.86 per share, and reaffirmed its full-year non-GAAP operating earnings guidance of $4.28 to $4.40 per share. PSE&G, the utility subsidiary, posted net income and non-GAAP operating earnings of $342 million, up from $332 million a year earlier, driven by investments in energy efficiency and gas system modernization. The company also reaffirmed its 5-year non-GAAP operating earnings growth outlook of 6% to 8% through 2030, supported by a $24 billion to $28 billion capital investment plan that requires no new equity or asset sales. PSE&G anticipates filing a base rate case by year-end 2026 to update rates, citing growing regulatory lag and the need to align with the state's review of the utility business model under Executive Order 1. On the generation side, PSEG Power cleared 3,600 megawatts of nuclear capacity in PJM's latest auction at $325 per megawatt-day and is pursuing bilateral contract opportunities under PJM's reliability backstop procurement process.
Public Service Enterprise Group reported second-quarter 2026 adjusted earnings of 86 cents per share, beating the Zacks Consensus Estimate of 80 cents by 7.5% and rising 11.7% from the prior-year figure of 77 cents. Operating revenues totaled $2.55 billion, missing the consensus of $2.70 billion and declining 8.9% from $2.81 billion a year earlier. PSE&G, the regulated utility, saw revenues increase 5.2% to $2.14 billion and non-GAAP operating earnings of $342 million, while PSEG Power & Other revenues fell 42% to $534 million but non-GAAP operating earnings rose to $83 million. The company reaffirmed its 2026 adjusted earnings guidance of $4.28 to $4.40 per share, with the Zacks Consensus Estimate at $4.37.
Public Service Enterprise to report Q2 earnings with consensus at 80 cents per share
Public Service Enterprise Group is scheduled to release second-quarter 2026 results on August 4 before market open. The Zacks Consensus Estimate for earnings is 80 cents per share, a year-over-year increase of 3.9 percent, while the revenue estimate is 2.70 billion dollars, implying a 3.8 percent decline. The company's Earnings ESP is negative 2.36 percent and it carries a Zacks Rank of 3, which together do not predict an earnings beat. Investments in grid modernization, favorable rate decisions, and rising demand from data centers are expected to have supported results, though higher interest and operating expenses may have partially offset those gains.
PSEG to announce second quarter 2026 financial results on August 4
Public Service Enterprise Group will host its second quarter 2026 earnings call at 11:00 a.m. Eastern Time on Tuesday, August 4. Management will discuss second quarter financial results, financial guidance, capital investments, regulatory activities, and other important matters. The audio webcast and accompanying presentation materials will be accessible on the Investor News and Events section of PSEG's Investor Relations website. A replay will be available by August 5.
RBC initiates NiSource at Outperform, citing Indiana data center edge
RBC Capital initiated coverage on NiSource with an Outperform rating and a $52 price target, calling the utility a rare combination of above-peer EPS growth and a uniquely favorable data center setup in Indiana that is not yet fully reflected in the stock. Analyst Stephen D'Ambrisi sees NiSource's 7% to 8% premium on his fiscal 2030 earnings estimates expanding, driven by a roughly 200 basis point EPS growth advantage over peers, Indiana's position as one of the most attractive data center markets in the Midwest, and a GenCo structure that helps insulate NIPSCO from affordability pressures weighing on regional peers. Despite NiSource's premium ranking relative to large-cap peers, the analyst sees room for further multiple expansion as the data center opportunity becomes better understood and management executes on near-term announcements. RBC also launched coverage on Public Service Enterprise Group with a Sector Perform rating and an $81 price target, noting that the New Jersey regulatory overhang that has pressured the stock over the past year may be alleviating, but the analyst still needs more clarity on the path forward.
Vistra Outshines Public Service Enterprise on Earnings Growth, ROE, and Valuation
Vistra Corp. holds an edge over Public Service Enterprise Group Inc. based on stronger earnings estimate momentum, a higher return on equity, a cheaper valuation, and superior recent share price performance. The Zacks Consensus Estimate for Vistra's 2026 and 2027 earnings per share has risen 9.17% and 1.44%, respectively, over the past 60 days, while Public Service Enterprise's 2026 estimate edged up just 0.23% and its 2027 estimate remained unchanged. Vistra trades at a forward price-to-earnings multiple of 15.77 times, a discount to Public Service Enterprise's 18.46 times, and posts a return on equity of 105.64% versus 12.3%. Vistra's shares have gained 10.8% in the past three months, compared with a 2.7% rally for Public Service Enterprise, though Public Service Enterprise offers a higher dividend yield of 3.21% against Vistra's 0.56%. Both stocks carry a Zacks Rank of 3, or Hold.
Morgan Stanley lifts Public Service Enterprise Group price target to $92
Morgan Stanley raised its price target on Public Service Enterprise Group to $92 from $89 while maintaining an Overweight rating, implying over 11% upside. The revision followed the firm's updated price objectives for North American regulated and diversified utilities and independent power producers, after the sector fell 5.5% in May against a 5.1% gain in the S&P 500. Public Service Enterprise Group exceeded first-quarter estimates and reaffirmed its 2026 adjusted operating earnings guidance of $4.28 to $4.40 per share, along with a long-term adjusted earnings growth outlook of 6% to 8% through 2030 driven by regulated investments and nuclear generation cash flows.
GE Vernova Outshines Public Service Enterprise on ROE, Growth, and Price Performance
GE Vernova is currently the smarter buy over Public Service Enterprise Group, according to a Zacks Investment Research analysis, driven by stronger return on equity, faster earnings growth, and superior recent price performance. GE Vernova's current ROE stands at 43.97% compared with Public Service Enterprise's 12.3%, while the Zacks Consensus Estimate for GE Vernova's 2026 earnings per share indicates growth of 72.92% year over year versus 7.9% for Public Service Enterprise. GE Vernova shares have risen 61.5% in the past six months, while Public Service Enterprise shares have gained only 1.5%. Both stocks carry a Zacks Rank #3 (Hold), but GE Vernova's long-term earnings growth rate of 18% also edges out Public Service Enterprise's 16.09%.