Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Utilities Sector Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies25
  • 7D1.7%
  • 3M14.3%
  • 1Y32.7%
  • YTD13.4%

Over the last 7 days, the Utilities industry has risen 2.0%, driven by gains from Fortis of 1.4%. In the last 12 months, the industry was up 34%. Looking forward, earnings are forecast to grow by 6.5% annually.

Sector Valuation and Performance

Has the Canadian Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Apr 2026CA$201.8bCA$77.1bCA$5.3b23.4x38.4x2.6x
Sat, 07 Mar 2026CA$192.0bCA$76.7bCA$5.0b23.3x38.2x2.5x
Mon, 02 Feb 2026CA$178.7bCA$78.0bCA$5.7b19.3x31.1x2.3x
Wed, 31 Dec 2025CA$174.4bCA$75.8bCA$5.3b18.5x33.1x2.3x
Fri, 28 Nov 2025CA$178.7bCA$76.2bCA$5.4b18.6x33.3x2.3x
Sun, 26 Oct 2025CA$182.2bCA$75.3bCA$5.3b21.3x34.5x2.4x
Tue, 23 Sep 2025CA$166.5bCA$75.1bCA$5.3b20.1x31.4x2.2x
Thu, 21 Aug 2025CA$168.8bCA$75.2bCA$5.3b20.1x31.9x2.2x
Sat, 19 Jul 2025CA$167.6bCA$75.6bCA$5.8b19.8x28.8x2.2x
Mon, 16 Jun 2025CA$166.2bCA$75.5bCA$5.8b19.9x28.6x2.2x
Wed, 14 May 2025CA$161.3bCA$75.8bCA$5.8b19.4x27.9x2.1x
Fri, 11 Apr 2025CA$152.3bCA$74.5bCA$5.5b19.7x27.7x2x
Sun, 09 Mar 2025CA$155.2bCA$74.9bCA$5.5b20x28.3x2.1x
Tue, 04 Feb 2025CA$148.3bCA$75.7bCA$5.1b20x28.8x2x
Thu, 02 Jan 2025CA$159.6bCA$82.1bCA$3.5b20.4x45.8x1.9x
Sat, 30 Nov 2024CA$166.4bCA$81.6bCA$3.5b20.9x47x2x
Mon, 28 Oct 2024CA$164.7bCA$81.3bCA$6.9b19.3x23.7x2x
Wed, 25 Sep 2024CA$162.5bCA$80.6bCA$6.9b19.2x23.5x2x
Fri, 23 Aug 2024CA$153.6bCA$80.9bCA$6.9b17.7x22.2x1.9x
Sun, 21 Jul 2024CA$147.3bCA$80.1bCA$7.2b14.3x20.4x1.8x
Tue, 18 Jun 2024CA$146.5bCA$80.1bCA$7.2b14x20.3x1.8x
Thu, 16 May 2024CA$149.5bCA$79.8bCA$7.2b14.2x20.8x1.9x
Sat, 13 Apr 2024CA$136.8bCA$81.0bCA$6.3b13.8x21.8x1.7x
Mon, 11 Mar 2024CA$143.8bCA$80.6bCA$6.3b14.8x23x1.8x
Wed, 07 Feb 2024CA$141.9bCA$82.3bCA$6.2b14.9x22.8x1.7x
Fri, 05 Jan 2024CA$149.5bCA$85.3bCA$8.7b14.9x17.1x1.8x
Sun, 03 Dec 2023CA$146.4bCA$85.5bCA$8.7b14.2x16.7x1.7x
Tue, 31 Oct 2023CA$136.6bCA$85.4bCA$6.9b13.2x19.8x1.6x
Thu, 28 Sep 2023CA$138.5bCA$85.0bCA$6.8b13.5x20.4x1.6x
Sat, 26 Aug 2023CA$149.1bCA$85.1bCA$6.8b15.2x22x1.8x
Mon, 24 Jul 2023CA$158.8bCA$85.2bCA$7.9b14.3x20x1.9x
Wed, 21 Jun 2023CA$156.7bCA$85.2bCA$7.9b15.2x19.7x1.8x
Fri, 19 May 2023CA$163.7bCA$85.5bCA$8.0b14.7x20.6x1.9x
Sun, 16 Apr 2023CA$165.5bCA$82.6bCA$7.1b16.4x23.2x2x
Price to Earnings Ratio

23.2x


Total Market Cap: CA$165.5bTotal Earnings: CA$7.1bTotal Revenue: CA$82.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Utilities Sector Price to Earnings3Y Average 26.4x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 38.2x which is higher than its 3-year average PE of 26.4x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have declined 9.7% per year over the last three years,
  • Revenues have also declined 2.2% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Canadian Utilities sector?

CA Market1.91%
Utilities1.73%
Renewable Energy2.68%
Gas Utilities2.11%
Other Utilities1.59%
Electric Utilities1.17%
Water Utilities0%0
Industry PE
  • Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 23.6x.
    • Analysts are expecting annual earnings growth of 52.3%, which is higher than its past year's earnings decline of 65.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 52% over the next 5 years.
  • This is better than its past earnings decline of 65% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings decline by 17% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
FTS FortisCA$79.311.4%
+CA$575.3m		26.5%PE23.6x
H Hydro OneCA$58.481.0%
+CA$341.9m		23.7%PE26.2x
ALA AltaGasCA$48.922.3%
+CA$339.4m		30.3%PE20.4x
CPX Capital PowerCA$68.232.8%
+CA$294.1m		47.0%PE66.7x
CU Canadian UtilitiesCA$49.882.0%
+CA$273.5m		41.3%PE323.3x

Latest News

FTS
CA$79.31
Fortis
7D
1.4%
1Y
26.5%
CU
CA$49.88
Canadian Utilities
7D
2.0%
1Y
41.3%
TA
CA$19.12
TransAlta
7D
3.4%
1Y
53.6%
ALA
CA$48.92
AltaGas
7D
2.3%
1Y
30.3%

ALA: Montney Storage And Exports Will Support Steady Long Term Return Potential

Narrative Update AltaGas' updated analyst price target edges higher to about CA$49.91 from CA$49.73, as analysts factor in recent rounds of target increases from CA$49 to CA$52 across several major firms, while keeping core growth and margin assumptions broadly consistent. Analyst Commentary Recent Street research on AltaGas is centered on a cluster of higher price targets, with several firms lifting their views into the C$49 to C$52 range.
EMA
CA$73.15
Emera
7D
0.8%
1Y
26.8%
H
CA$58.48
Hydro One
7D
1.0%
1Y
23.7%
CPX
CA$68.23
Capital Power
7D
2.8%
1Y
47.0%
NPI
CA$24.20
Northland Power
7D
3.6%
1Y
28.7%
WEB
CA$1.57
Westbridge Renewable Energy
7D
-4.8%
1Y
-39.6%
RESO
CA$0.18
ReSolve Energie
7D
-10.0%
1Y
n/a
AKH.H
CA$0.025
Alaska Hydro
7D
-28.6%
1Y
25.0%