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Public Service Enterprise Group Inc PEG

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Morningstar’s Analysis

Valuation
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Public Service Enterprise Group Reports Good Start to 2021, Completes One Step of Its Divesture Plan

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $53 per share fair value estimate for Public Service Enterprise Group after the company reported earning $1.28 per share in the first quarter and announced it has agreed to sell its Solar Source portfolio to an LS Power affiliate for what appears to be around $500 million, although neither party disclosed the sale price. We are reaffirming 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), a merchant power generation owner (PSEG Power), and an energy investment firm (PSEG Enterprise). PSE&G provides regulated gas and electricity delivery services in New Jersey to a combined 4 million customers. PSEG Power owns and operates merchant power plants in the Mid-Atlantic, New York, and the Northeast. Energy Holdings invests in energy-related assets worldwide. PSEG also operates the Long Island Power Authority system.

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

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