Public Service Enterprise Group Incorporated (NYSE:PEG) is included among the 11 Energy Stocks to Buy for a Retirement Portfolio.
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Public Service Enterprise Group Incorporated is a predominantly regulated energy company that engages in the provision of electric and gas services.
On November 20, Morgan Stanley lowered its price target on Public Service Enterprise Group Incorporated from $109 to $107, but kept an ‘Overweight’ rating on its shares. The adjustment comes as a part of the analyst firm adjusting its price targets for Regulated & Diversified Utilities / IPPs in North America under its coverage. Moreover, the analyst highlighted that the utilities sector underperformed the wider market in October.
Public Service Enterprise Group Incorporated has grown its distributions for 14 consecutive years, and on November 18, the company announced a quarterly dividend of $0.63 per share. To help sustain its dividend growth, PSEG is currently working on a 5-year capital investment program of $22.5 billion to $26 billion, without the need to issue new equity or sell assets. As of the writing of this piece, the stock offers a robust annual dividend yield of 3.2%.
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