(PEG) Public Service Enterprise - Ratings and Ratios

Public Service Enterprise Group Incorporated (NYSE:PEG), or PSEG, is one of the oldest and most established utility companies in the United States, with roots dating back to 1903. Headquartered in Newark, New Jersey, PSEG operates through two primary segments: PSE&G (Public Service Electric and Gas) and PSEG Power. The company is a cornerstone of the regulated utility space, providing essential electricity and natural gas services to millions of customers across New Jersey and beyond.

The PSE&G segment is the backbone of the company, responsible for transmitting and distributing electricity and natural gas to residential, commercial, and industrial customers. This segment also manages appliance repair services and invests heavily in solar generation projects, energy efficiency programs, and other initiatives aimed at modernizing the grid and reducing carbon emissions. As of 2023, PSE&G’s infrastructure spans over 25,000 circuit miles of electric transmission and distribution lines, supported by 866,600 poles, 235 substations, and 56 switching stations with a combined capacity of nearly 40,000 MVA. On the gas side, the company operates 18,000 miles of gas mains, 12 distribution headquarters, and 56 metering and regulating stations, ensuring reliable energy delivery to its customers.

The PSEG Power segment focuses on wholesale energy production, primarily through its nuclear generation assets. This segment supplies power to the grid and manages natural gas storage facilities, ensuring a steady supply of fuel for its power plants. PSEG Power’s nuclear portfolio is a critical component of its operations, providing low-carbon electricity and contributing to the company’s transition toward cleaner energy sources. In addition, PSEG has made notable investments in solar energy, with approximately 158 MW of installed PV solar capacity, reflecting its commitment to renewable energy and grid resilience.

From a financial perspective, PSEG is a large-cap utility company with a market capitalization of over $41 billion as of 2023. The stock trades at a P/E ratio of 20.61, slightly above its forward P/E of 20.96, indicating expectations of stable earnings growth. With a price-to-book ratio of 2