Do Wall Street Analysts Like Public Service Enterprise Stock?

Public Service Enterprise Group Incorporated (PEG), headquartered in Newark, New Jersey, operates in electric and gas utility business. Valued at $37.2 billion by market cap, the company provides transmission and distribution of electricity and natural gas, as well as supplies energy that integrates the operations of its merchant nuclear generating assets. 

Shares of this regulated infrastructure company have underperformed the broader market over the past year. PEG has declined 13.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 19.9%. In 2026, PEG stock is down 6.3%, compared to the SPX’s 12.9% rise on a YTD basis. 

Narrowing the focus, PEG’s underperformance is also apparent compared to the State Street Utilities Select Sector SPDR ETF (XLU). The exchange-traded fund has gained about 1.6% over the past year. Moreover, the ETF’s 2.2% gains on a YTD basis outshine the stock’s losses over the same time frame.

PEG’s relative underperformance stems from sector-wide high interest rates that reduced the relative appeal of utility dividend yields, while the mid-2025 expiration of New Jersey’s Zero Emission Certificate (ZEC) subsidies created direct downward pressure on net income. Additionally, earnings faced friction from unfavorable regulatory rulings, including transmission RTO cost reallocations and mandatory energy efficiency orders, alongside investor caution around how quickly massive data center power demand will convert into realized utility revenue.

On Aug. 4, PEG shares fell marginally after reporting its Q2 results. Its adjusted EPS of $0.86 topped Wall Street expectation of $0.80. The company’s revenue was $2.6 billion, missing Wall Street forecasts of $2.7 billion. PEG expects full-year adjusted EPS in the range of $4.28 to $4.40.

For the current fiscal year, ending in December, analysts expect PEG’s EPS to grow 7.9% to $4.37 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.

Among the 23 analysts covering PEG stock, the consensus is a “Moderate Buy.” That’s based on nine “Strong Buy” ratings, and 14 “Holds.”

The configuration has been relatively stable over the past three months. 

On Aug. 5, Shahriar Pourreza from Wells Fargo & Company (WFC) maintained a “Buy” rating on PEG, with a price target of $89, implying a potential upside of 18.3% from current levels.

The mean price target of $87.88 represents a 16.8% premium to PEG’s current price levels. The Street-high price target of $104 suggests a notable upside potential of 38.3%.