Retirement Stock Portfolio: 11 Energy Stocks to Buy

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

Number of Hedge Fund Holders: 39

Next on our list of the Best Energy Stocks for a Retirement Portfolio is Public Service Enterprise Group Incorporated (NYSE:PEG), 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 (NYSE:PEG) 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 (NYSE:PEG) 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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