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Public Service Enterprise Group Inc PEG

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

New Jersey Steps Up Carbon Reduction Target Again; Reaffirming PSEG's Long-Term Upside

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $54 fair value estimate for Public Service Enterprise Group after New Jersey Gov. Phil Murphy on Nov. 10 signed an executive order requiring a 50% cut in the state's greenhouse gas emissions from 2006 levels by 2030. This helps clarify the path to New Jersey's 80% GHG reduction target by 2050. We are maintaining our narrow moat and stable moat trend ratings.

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Company Profile

Business Description

Public Service Enterprise Group is the holding company for a regulated utility (PSE&G) and other non-regulated businesses such as nuclear power generation and clean energy infrastructure. PSE&G provides regulated gas and electricity delivery services in New Jersey to a combined 4 million customers. PSEG also operates the Long Island Power Authority system. In 2021, PSEG sold its gas and oil power plants in the Mid-Atlantic, New York, and the Northeast.

Contact
80 Park Plaza
Newark, NJ, 07102
T +1 973 430-7000
Sector Utilities
Industry Utilities - Diversified
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type High Yield
Employees 12,788

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