Public Service Enterprise Group Incorporated (NYSE:PEG), is one of the oldest and most influential energy companies in the United States, with a history dating back to its founding in 1903. Headquartered in Newark, New Jersey, the company has played a central role in the development of modern energy infrastructure along the East Coast, supplying electricity and natural gas to millions of residential, commercial, and industrial customers. Over the course of more than a century, PSEG has evolved from a regional utility provider into a nationally recognized leader in clean energy, infrastructure investment, and power generation. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), PSEG operates one of the largest regulated electric and gas utilities in the country. In addition to its regulated operations, the company is also active in nuclear energy generation through PSEG Power, which owns and operates one of the most significant fleets of zero-carbon nuclear plants in the United States.
PSEG’s long-standing presence in the American energy industry is marked by a legacy of innovation, public service, and reliability. It has been instrumental in supporting energy access during pivotal moments in U.S. history, from industrial expansion in the early 20th century to the electrification boom, post-war economic growth, and the transition toward a cleaner and more modern energy grid in the 21st century. Today, PSEG is at the forefront of the energy transition, playing a key role in delivering carbon-free power while modernizing the electrical grid to support future demand from electric vehicles, data centers, and smart infrastructure. With a strong commitment to sustainability, the company has strategically invested in renewable energy integration, grid resilience, and nuclear power, positioning itself as a key contributor to national decarbonization goals.
The company is widely regarded for its financial stability and dedication to shareholder returns. PSEG has paid dividends for over 118 consecutive years, demonstrating its resilience through economic cycles, world wars, and evolving market conditions. It has also consistently reinvested in infrastructure and clean energy initiatives while maintaining strong regulatory relationships and dependable earnings. With its nuclear generation assets producing the majority of New Jersey’s carbon-free electricity and its regulated utility arm providing reliable energy to millions, PSEG continues to be a foundational pillar of the U.S. energy landscape, deeply embedded in the economic fabric of the Mid-Atlantic region while extending its influence into emerging national energy markets.
Clean Energy Assets Driving Growth and Strategic Relevance
PSEG’s nuclear assets are at the core of its growth narrative, providing more than 90% of New Jersey’s carbon-free electricity. With output increasing from 7,007 gigawatt-hours in Q2 2024 to 7,511 gigawatt-hours in Q2 2025, and totaling 15.9 terawatt-hours (TWh) in just the first half of 2025, PSEG is proving its ability to scale clean energy generation at a time when zero-carbon power is becoming mission-critical for the nation’s energy security and data infrastructure. The company’s nuclear fleet is uniquely positioned to serve as the baseload backbone for data centers connected to the PJM grid—one of the largest electricity markets in the world—an opportunity highlighted by Evercore ISI’s recent coverage initiation, which set a price target of $83 and emphasized PEG’s potential role in the data center power buildout.
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Nuclear Strength Meets Regulated Stability
Unlike speculative clean-energy developers, Public Service Enterprise Group operates predominantly as a regulated utility. This means earnings are not only supported by long-term infrastructure investments but also protected by state and federal oversight. The company benefits from guaranteed rates of return on its utility investments, including grid modernization, storm resiliency projects, and clean energy integration initiatives. This provides a foundation of predictable cash flow while its nuclear operations create asymmetric upside potential, especially as policy and private sector demand converge on reliable, carbon-free baseload power.
Financial Resilience Backed by 118 Years of Dividends
Public Service Enterprise Group is one of the most shareholder-friendly companies in the utility sector, boasting a remarkable track record of paying dividends for 118 consecutive years. Earlier in 2025, the company increased its quarterly dividend by 5% to $0.63 per share, marking the 14th consecutive annual increase and reinforcing its status as a reliable income-producing investment. With a current dividend yield of 3.08% and strong earnings growth, PEG continues to reward long-term shareholders while maintaining the balance sheet strength required to fund its ambitious capital investment strategy.
Strong Earnings Momentum and Strategic Expansion
The company delivered a strong second quarter in 2025, surpassing both revenue and earnings expectations. This earnings momentum confirms PSEG’s effective cost management, steady regulated growth, and expanding nuclear output. As electrification accelerates across transportation, industry, and digital infrastructure, and as policymakers increasingly incentivize clean baseload power, PSEG is positioned to emerge not only as a traditional utility but as a foundational growth engine in the clean energy transition.
Conclusion: Positioned for Multi-Decade Upside
Public Service Enterprise Group offers one of the rare combinations in today’s market: the security of a regulated utility, the growth profile of a clean energy leader, and the strategic advantage of being a major supplier of zero-carbon nuclear power into one of the fastest-growing energy markets in the country. With accelerating nuclear output, rising institutional interest, 118 years of uninterrupted dividends, and emerging opportunities in powering data centers across the PJM grid, PEG is not just an essential infrastructure company—it is a long-term compounding opportunity for investors seeking stable income and clean energy-driven growth.
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