Analyst Consensus ?
ConsensusHold31 ratings
Bullish1548.4%
Neutral1548.4%
Bearish13.2%
1 unmapped firm rating excluded from the percentages.
Public Service Enterprise Group Incorporated · PEG · FY2026 Q1 · Calendar Q2 2026
PSEG Q1 Earnings Beat Estimates as Nuclear Expansion and Grid Investments Stay on Track
PSEG's Q1 2026 results reinforced its regulated-utility growth thesis: a beat on both EPS ($1.55 non-GAAP vs $1.44 estimate) and revenue ($3.85B vs $3.35B estimate), with full-year guidance maintained at $4.28-$4.40 per share and the 6-8% long-term CAGR through 2030 reaffirmed. The quarter advanced two growth engines: regulated infrastructure investment (~$4.2B in 2026 capex) and nuclear expansion at Salem, supported by favorable regulatory developments including a FERC cost-allocation order expected to refund customers over $100M and a BGS auction reducing electric bills by up to 1.8%. Management also launched a virtual power-plant pilot and completed the Zero Emission Certificate program. Despite the beat, the stock's abnormal move was -1.70% with subsequent drift of -2.48%, and the current price of $77.75 sits below the analyst consensus target of $87.67, suggesting the market is…
Reported Before market openNYSEUtilities
$38.74B market cap
100quality score
Company context
Snapshot as of publicationPublic Service Enterprise Group Incorporated (PSEG) is an energy provider primarily operating through its subsidiaries in the Northeastern and Mid-Atlantic United States. The company's business activities are structured into two primary segments: PSE&G and PSEG Power. The PSE&G division is responsible for transmitting electricity and distributing both electricity and natural gas to residential, commercial, and industrial customers. This segment also commits resources to solar power generation projects and various energy efficiency initiatives, as well as offering appliance service and repair.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.55
Consensus $1
EPS surprise
+7.6%
Reported versus consensus
Reported revenue
$3.85B
Consensus $3.35B
Revenue surprise
+14.7%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$77.75Current
$70Low
$86.65Average
$98High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Jul 22, 2026 |
| Jefferies | Hold | Hold | Maintain | Jul 20, 2026 |
| Truist Securities | Hold | Hold | Maintain | Jul 16, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Apr 13, 2026 |
| Ladenburg Thalmann | Neutral | Buy | Downgrade | Mar 13, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Mar 12, 2026 |
| Evercore ISI Group | Outperform | In Line | Upgrade | Mar 5, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Mar 5, 2026 |
| UBS | Buy | Buy | Maintain | Dec 17, 2025 |
| TD Cowen | Buy | Buy | Maintain | Nov 5, 2025 |
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 25, 2025 |
| Guggenheim | Buy | Buy | Maintain | May 1, 2025 |
| B of A Securities | Buy | Buy | Maintain | Mar 3, 2025 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Dec 12, 2024 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 15, 2024 |
| Mizuho | Buy | Buy | Maintain | May 23, 2024 |
| Seaport Global | Neutral | Buy | Downgrade | Jun 20, 2023 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Nov 17, 2022 |
| Goldman Sachs | Buy | Buy | Maintain | Oct 4, 2022 |
| Credit Suisse | Neutral | Neutral | Maintain | May 4, 2022 |
| Citigroup | Neutral | Neutral | Maintain | Mar 22, 2022 |
| Keybanc | Overweight | Downgrade | Jan 13, 2022 | |
| Vertical Research | Buy | Hold | Upgrade | Sep 30, 2021 |
| Deutsche Bank | Hold | Buy | Downgrade | Feb 28, 2019 |
| Argus Research | Buy | Buy | Maintain | Oct 17, 2018 |
| Argus | Buy | Buy | Maintain | Oct 17, 2018 |
| Macquarie | Outperform | Outperform | Maintain | Sep 24, 2018 |
| Bank of America | Buy | Neutral | Upgrade | Apr 16, 2018 |
| Tudor Pickering | Hold | Hold | Maintain | Dec 5, 2012 |
| ISI Group | Hold | Sell | Upgrade | Nov 9, 2012 |
| FBR Capital | Underperform | Market Perform | Downgrade | Aug 27, 2012 |
| Bank oferica | Neutral | Neutral | Maintain | Mar 12, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $77.75. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $93 | $78.84 | +19.6% | Jul 22, 2026 |
| Jefferies | Paul Zimbardo | $78 | $78.64 | +0.3% | Jul 20, 2026 |
| RBC Capital | Stephen D'Ambrisi | $81 | $80.27 | +4.2% | Jul 1, 2026 |
| Truist Financial | Richard Sunderland | $88 | $76.44 | +13.2% | May 18, 2026 |
| Truist Financial | Analyst unavailable | $91 | $80.74 | +17.0% | Apr 20, 2026 |
| Jefferies | Analyst unavailable | $89 | $82.05 | +14.5% | Apr 14, 2026 |
| Scotiabank | Andrew Weisel | $92 | $85.85 | +18.3% | Feb 26, 2026 |
| Morgan Stanley | Analyst unavailable | $90 | $85.36 | +15.8% | Feb 20, 2026 |
| BTIG | Alex Kania | $94 | $82 | +20.9% | Jan 30, 2026 |
| Barclays | Analyst unavailable | $81 | $79.77 | +4.2% | Jan 22, 2026 |
| Morgan Stanley | Analyst unavailable | $92 | $79.28 | +18.3% | Jan 21, 2026 |
| Wells Fargo | Shahriar Pourreza | $92 | $79.42 | +18.3% | Jan 20, 2026 |
| UBS | William Appicelli | $98 | $79.93 | +26.0% | Dec 17, 2025 |
| Morgan Stanley | David Arcaro | $89 | $80.4 | +14.5% | Dec 16, 2025 |
| Morgan Stanley | Analyst unavailable | $107 | $81.51 | +37.6% | Nov 20, 2025 |
| Jefferies | Analyst unavailable | $90 | $79.86 | +15.8% | Nov 6, 2025 |
| New Street | Analyst unavailable | $83 | $81.36 | +6.8% | Nov 4, 2025 |
| Wells Fargo | Analyst unavailable | $88 | $83.45 | +13.2% | Oct 27, 2025 |
| Morgan Stanley | Analyst unavailable | $109 | $83.53 | +40.2% | Oct 22, 2025 |
| BTIG | Analyst unavailable | $98 | $83.12 | +26.0% | Oct 21, 2025 |
| Barclays | Analyst unavailable | $87 | $83.12 | +11.9% | Oct 21, 2025 |
| Barclays | Nicholas Campanella | $89 | $84.83 | +14.5% | Oct 21, 2025 |
| BMO Capital | Analyst unavailable | $85 | $84.75 | +9.3% | Oct 20, 2025 |
| Evercore ISI | Analyst unavailable | $83 | $81.84 | +6.8% | Oct 6, 2025 |
| Morgan Stanley | Analyst unavailable | $103 | $80.88 | +32.5% | Sep 25, 2025 |
| UBS | William Appicelli | $103 | $87.58 | +32.5% | Jul 25, 2025 |
| Morgan Stanley | David Arcaro | $100 | $82.1 | +28.6% | Jun 18, 2025 |
| BMO Capital | James Thalacker | $89 | $90.39 | +14.5% | Oct 21, 2024 |
| Jefferies | Paul Zimbardo | $85 | $83.31 | +9.3% | Sep 12, 2024 |
| Morgan Stanley | David Arcaro | $83 | $81.08 | +6.8% | Aug 23, 2024 |
| Evercore ISI | Greg Gordon | $80 | $78 | +2.9% | Jul 30, 2024 |
| Guggenheim | Shahriar Pourreza | $82 | $73.28 | +5.5% | Jun 17, 2024 |
| Morgan Stanley | David Arcaro | $78 | $74.83 | +0.3% | May 28, 2024 |
| Mizuho Securities | Paul Fremont | $80 | $73.96 | +2.9% | May 23, 2024 |
| BMO Capital | James Thalacker | $69 | $69.15 | -11.3% | May 1, 2024 |
| J.P. Morgan | Jeremy Tonet | $70 | $62.6 | -10.0% | Dec 4, 2023 |
Track every rating change on PEG the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-0.9%
Event window
SPY move
+0.8%
Same window
Abnormal move
-1.7%
Stock minus SPY
Volume
1.2×
Versus trailing sessions
Subsequent drift
-2.5%
Up to 20 sessions
PEGSPY benchmark
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What changed
Guidance sentiment shifted from 'raised' in Q4 2025 to 'maintained' in Q1 2026 -- the full-year $4.28-$4.40 range was reaffirmed but not increased. New developments this quarter include a FERC order reallocating PJM transmission costs expected to refund customers over $100M, the launch of a virtual power-plant pilot leveraging smart-meter data and demand-response participation, and completion of the Zero Emission Certificate program with gas volume revenues offsetting its absence. The bullish score declined from 82 to 72, and the capex outlook moved from 'increasing' to 'stable.'
Guidance delta
Full-year 2026 non-GAAP operating earnings guidance was maintained at $4.28-$4.40 per share, unchanged from the prior quarter's raised outlook. The long-term CAGR target of 6-8% through 2030 was reaffirmed. No new guidance ranges were introduced.
Key takeaways
- Q1 non-GAAP EPS of $1.55 beat the $1.44 estimate by 7.6%; revenue of $3.85B exceeded the $3.35B estimate by 14.7%.
- Full-year guidance maintained at $4.28-$4.40; 6-8% CAGR through 2030 reaffirmed.
- $4.2B 2026 capex plan on track for infrastructure, efficiency, and modernization.
- New nuclear development at Salem being pursued after state legislation lifted the moratorium.
- FERC cost-allocation order expected to refund customers over $100M; BGS auction to reduce electric bills by up to 1.8%.
- Virtual power-plant pilot launched leveraging smart-meter data and demand-response participation.
Management priorities
- Execute the $4.2B 2026 capex plan across infrastructure, efficiency, and modernization.
- Pursue new nuclear construction at Salem and seek NRC license extensions and uprates.
- Scale demand-response, time-of-use rates, and virtual power-plant capabilities.
- Engage in PJM reliability back-stop auction and transmission open windows.
- Maintain rate flatness and affordability through regulatory mechanisms.
Related earnings events
UtilitiesSources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-30T05:11:04.285709+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T05:11:04.283018+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.