PEG Stock Starts With $91 Target As Data Center Demand Rises

With a net profit margin of 17.2%, Public Service Enterprise Group Incorporated (NYSE:PEG) is among the 11 Most Profitable Renewable Energy Stocks Right Now.

Public Service Enterprise Group Incorporated (NYSE:PEG) initiated new analyst coverage momentum on April 21 when Truist began coverage with a Hold rating and a $91 price target. The firm noted that vertically integrated electric utilities are among the clearest beneficiaries of infrastructure buildouts needed to serve accelerating load growth from data centers, highlighting favorable structural demand trends for the sector.

On April 15, Jefferies downgraded Public Service Enterprise Group Incorporated (NYSE:PEG) to Hold from Buy and lowered its price target to $89 from $90. The firm cited reduced confidence in existing nuclear plant data center transaction opportunities and noted that a ratepayer protection pledge could reduce hyperscaler interest in contracting with current generation assets absent new capacity additions.

Public Service Enterprise Group Incorporated (NYSE:PEG) is a predominantly regulated energy company based in New Jersey that provides electric and natural gas service. Founded in 1903, the company has evolved into a major utility infrastructure operator focused on clean energy, grid modernization, and customer efficiency programs, including its Solar 4 All initiative.

Even with more cautious near-term analyst sentiment, PEG retains valuable regulated utility assets in a power market benefiting from rising electricity demand. Its clean generation base and grid investment opportunities provide a stable platform for earnings growth over time.

READ NEXT: 10 Best Gold Mining Companies to Invest In According to Wall Street and 8 Best Up and Coming Semiconductor Stocks to Buy.

Disclosure: None.  Follow Insider Monkey on Google News.