PSEG Appoints Scott Jennings as New President and COO, Secures Five-Year Contract Extension
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 30 2025
0mins
Source: Newsfilter
- Leadership Change: PSEG has appointed Scott Jennings as the new President and COO of PSEG Long Island, effective January 5, 2026, aiming to leverage his 27 years of industry experience to enhance operational efficiency and customer service.
- Contract Extension: The New York State Comptroller has approved a five-year extension of the operations services agreement between PSEG Long Island and the Long Island Power Authority, ensuring continued electric grid operations from January 1, 2026, to December 31, 2030, thereby strengthening the company's market position in the region.
- Customer Satisfaction Improvement: PSEG Long Island ranked first in customer satisfaction among business customers in the East Large Segment according to the J.D. Power 2025 Electric Utility Business Customer Satisfaction Study, reflecting its ongoing commitment to service improvement over the past 11 years.
- Safety and Reliability Enhancements: Since taking over operations in 2014, PSEG Long Island has achieved a 26% reduction in outage frequency and improved workforce safety by over 75%, which not only builds customer trust but also lays a solid foundation for future business growth.
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Analyst Views on PEG
Wall Street analysts forecast PEG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PEG is 89.77 USD with a low forecast of 83.00 USD and a high forecast of 98.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
8 Buy
4 Hold
0 Sell
Moderate Buy
Current: 81.450
Low
83.00
Averages
89.77
High
98.00
Current: 81.450
Low
83.00
Averages
89.77
High
98.00
About PEG
Public Service Enterprise Group Incorporated is a regulated infrastructure company operating New Jersey’s transmission and distribution utility, serving approximately 2.4 million electric and 1.9 million natural gas customers. The Company also owns an independent fleet of 3,758 MW of carbon-free, baseload nuclear power-generating units. The Company principally conducts its business through two wholly owned subsidiaries, Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (PSEG Power). The Company’s segments include PSE&G and PSEG Power. PSE&G is a public utility engaged principally in the transmission of electricity and distribution of electricity and natural gas in certain areas of New Jersey. PSEG Power is an energy supply company that consists of the operations of merchant nuclear generating assets and fuel supply functions engaged in competitive energy sales via its principal direct wholly owned subsidiaries. The Company also has other wholly owned subsidiaries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Caution for Utility Stocks: Political Factors May Impact Stock Returns.
- Political Backlash: Early indications of a political backlash against utility companies have emerged in New Jersey and New York.
- Sector Challenges: This situation may signal a challenging year ahead for the utility sector as public sentiment shifts.
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Public Service Enterprise Group Downgraded to Neutral with $85 Price Target by J.P. Morgan
- Rating Downgrade: J.P. Morgan downgraded Public Service Enterprise Group from Overweight to Neutral with a price target cut from $88 to $85, reflecting ongoing political and regulatory uncertainty in New Jersey despite some optimism from Governor Sherrill's inauguration speech.
- Regulatory Risks: Analyst Jeremy Tonet highlighted that while New Jersey's plans remain unclear, he cannot rule out further deterioration in the state's regulatory environment, particularly given the increasing scrutiny on regulated returns and overall ratemaking components.
- Nuclear Contract Outlook: Despite political backlash, Tonet noted that approximately one-third of PSEG's nuclear capacity is located in Pennsylvania, where contract opportunities could still arise, partially offsetting risks from New Jersey.
- Potential for Price Increases: Although affordability issues in New Jersey may limit PEG's upside, Tonet still sees potential for rising power prices to provide some revenue benefits for the company.
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