Public Service Enterprise Group, Inc. (NYSE: PEG) or PSEG's focus on renewable generation expansion is likely to bolster its footprint in the clean energy market. To enhance customer reliability, the company makes consistent investments in its infrastructure, strengthening its transmission and distribution system's resilience.
However, this Zacks Rank #3 (Hold) company faces risks like an unfavorable financial position and expenditure to remediate every manufactured gas plant (MGP) site, which acts as a headwind.
PEG's Tailwinds
PSEG has a capital investment plan of $18-$21 billion for 2024-2028 to constantly upgrade its infrastructure and expand its renewable generation portfolio. Its solid capital investment plan is estimated to bring in compounded annual rate base growth of 6-7.5% between 2024 and 2028.
In the clean energy space, the company is investing significantly in solar initiatives in utility-owned solar photovoltaic (PV) grid-connected systems. As ...
