12 Best Electric Utility Stocks to Buy for the Data Center Power Surge

10. Public Service Enterprise Group Incorporated (NYSE:PEG)

Number of Hedge Fund Holders: 49

Public Service Enterprise Group Incorporated (NYSE:PEG) is a predominantly regulated energy company that engages in the provision of electric and gas services.

Public Service Enterprise Group Incorporated (NYSE:PEG) topped estimates in its Q1 2026 report on May 5, supported by the extreme winter weather that ‌drove demand across its electric and gas businesses. The company’s adjusted EPS of $1.55 beat expectations by $0.12, while its revenue also surged by 19.5% YoY to $3.85 billion and comfortably exceeded forecasts by $496 million.

Public Service Enterprise Group Incorporated (NYSE:PEG)’s electricity sales rose 4% YoY during the quarter, while gas volumes sold ‌and ⁠transported also surged by 7% as the worst winter storm in 30 years in the New Jersey-based utility’s service area drove the company’s highest gas send-out since ​2019.

Public Service Enterprise Group Incorporated (NYSE:PEG) reaffirmed its operating earnings guidance of $4.28 to $4.40 per share for FY 2026, up 7% YoY at the midpoint. The company is targeting a long-term adjusted earnings growth outlook of 6%-8% through the end of the decade, citing robust regulated investments and nuclear generation cash flows as key drivers. Moreover, it also outlined a 5-year regulated capital investment plan of $22.5 billion to $25.5 billion to keep up with the soaring demand.