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Canadian (TSX) Utilities Sector Analysis

UpdatedFeb 21, 2025
DataAggregated Company Financials
Companies27
  • 7D1.0%
  • 3M-2.2%
  • 1Y10.7%
  • YTD-0.1%

In the last week, the Utilities industry is up 1.0%, with Capital Power up 6.8%. This takes the industry's 12 month performance to a gain of 11%. Looking forward, earnings are forecast to grow by 8.3% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 21 Feb 2025CA$150.1bCA$75.5bCA$5.4b21.2x28x2x
Sun, 19 Jan 2025CA$144.2bCA$75.4bCA$5.3b20.8x27.1x1.9x
Tue, 17 Dec 2024CA$161.1bCA$81.9bCA$3.5b21x46x2x
Thu, 14 Nov 2024CA$159.7bCA$81.5bCA$3.9b19.9x41.3x2x
Sat, 12 Oct 2024CA$158.4bCA$81.1bCA$6.9b18.9x22.9x2x
Mon, 09 Sep 2024CA$155.8bCA$80.8bCA$6.9b19.1x22.5x1.9x
Wed, 07 Aug 2024CA$154.0bCA$80.8bCA$6.0b16.7x25.8x1.9x
Fri, 05 Jul 2024CA$146.3bCA$79.9bCA$7.2b13.9x20.3x1.8x
Sun, 02 Jun 2024CA$149.9bCA$80.0bCA$7.2b14.2x20.8x1.9x
Tue, 30 Apr 2024CA$136.9bCA$80.9bCA$6.3b14x21.8x1.7x
Thu, 28 Mar 2024CA$140.6bCA$80.8bCA$6.3b13.9x22.4x1.7x
Sat, 24 Feb 2024CA$140.9bCA$82.2bCA$5.6b14.7x25x1.7x
Mon, 22 Jan 2024CA$147.8bCA$85.4bCA$8.7b14.7x16.9x1.7x
Wed, 20 Dec 2023CA$149.0bCA$85.3bCA$8.7b14.5x17.1x1.7x
Fri, 17 Nov 2023CA$146.0bCA$85.7bCA$8.8b14.7x16.7x1.7x
Sun, 15 Oct 2023CA$136.8bCA$85.2bCA$6.8b13.9x20.2x1.6x
Tue, 12 Sep 2023CA$146.2bCA$85.1bCA$6.8b14.6x21.6x1.7x
Thu, 10 Aug 2023CA$149.8bCA$84.9bCA$7.2b14.1x20.8x1.8x
Sat, 08 Jul 2023CA$153.8bCA$85.3bCA$7.9b14.3x19.4x1.8x
Mon, 05 Jun 2023CA$163.2bCA$85.4bCA$8.0b14.7x20.5x1.9x
Wed, 03 May 2023CA$164.8bCA$83.9bCA$7.5b16.4x21.9x2x
Fri, 31 Mar 2023CA$163.2bCA$82.8bCA$7.2b16.1x22.8x2x
Sun, 26 Feb 2023CA$152.0bCA$81.4bCA$7.1b17.1x21.4x1.9x
Tue, 24 Jan 2023CA$158.1bCA$79.2bCA$6.0b18x26.5x2x
Thu, 22 Dec 2022CA$152.8bCA$79.5bCA$6.0b17.4x25.5x1.9x
Sat, 19 Nov 2022CA$153.5bCA$79.0bCA$6.6b18.7x23.2x1.9x
Mon, 17 Oct 2022CA$150.6bCA$76.1bCA$5.9b20.2x25.5x2x
Wed, 14 Sep 2022CA$183.0bCA$75.0bCA$5.8b22.4x31.5x2.4x
Fri, 12 Aug 2022CA$183.9bCA$74.3bCA$5.8b24.9x31.6x2.5x
Sun, 10 Jul 2022CA$173.7bCA$68.3bCA$4.2b26.6x41.7x2.5x
Tue, 07 Jun 2022CA$177.4bCA$68.0bCA$4.2b27.5x42.6x2.6x
Thu, 05 May 2022CA$173.8bCA$66.3bCA$4.5b24.9x38.5x2.6x
Sat, 02 Apr 2022CA$181.7bCA$64.8bCA$4.3b31.3x42.1x2.8x
Mon, 28 Feb 2022CA$165.3bCA$63.2bCA$5.1b19.4x32.7x2.6x
Price to Earnings Ratio

32.7x


Total Market Cap: CA$165.3bTotal Earnings: CA$5.1bTotal Revenue: CA$63.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Utilities Sector Price to Earnings3Y Average 26.7x202320242025
Current Industry PE
  • Investors are relatively neutral on the Canadian Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 26.7x.
  • The industry is trading close to its 3-year average PS ratio of 2.0x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 6.1% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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

CA Market-0.52%
Utilities1.02%
Renewable Energy5.70%
Other Utilities1.09%
Gas Utilities-0.96%
Electric Utilities-1.18%
Water Utilities-2.18%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 3.7x.
    • Analysts are expecting annual earnings decline of 1.2%, which is lower than the prior year's growth of 0.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 54% over the next 5 years.
  • This is better than its past earnings decline of 18% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
CPX Capital PowerCA$54.486.8%
+CA$480.9m		45.4%PE14.6x
TA TransAltaCA$15.968.2%
+CA$361.1m		69.6%PE26.9x
INE Innergex Renewable EnergyCA$8.5216.2%
+CA$241.7m		9.9%PE108.9x
EMA EmeraCA$56.611.2%
+CA$201.2m		17.5%PE26.6x
AQN Algonquin Power & UtilitiesCA$7.073.7%
+CA$191.8m		-10.5%PE10.1x
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Latest News

H

CA$43.98

Hydro One

7D

-2.5%

1Y

7.1%

INE

CA$8.52

Innergex Renewable Energy

7D

16.2%

1Y

9.9%

TA

CA$15.96

TransAlta

7D

8.2%

1Y

69.6%

PIF

CA$12.02

Polaris Renewable Energy

7D

-5.1%

1Y

-5.3%

ACO.X

CA$47.95

ATCO

7D

0.5%

1Y

27.5%

SPB

CA$5.99

Superior Plus

7D

-1.0%

1Y

-37.6%

EVGN

CA$0.91

EverGen Infrastructure

7D

-15.7%

1Y

-56.5%

NPI

CA$17.67

Northland Power

7D

2.6%

1Y

-25.8%

CPX

CA$54.48

Capital Power

7D

6.8%

1Y

45.4%

AQN

CA$7.07

Algonquin Power & Utilities

7D

3.7%

1Y

-10.5%

BLX

CA$26.63

Boralex

7D

4.1%

1Y

-9.1%

FTS

CA$62.05

Fortis

7D

-1.3%

1Y

15.3%

ALA

CA$34.73

AltaGas

7D

-0.9%

1Y

19.8%

AltaGas' (TSE:ALA) Shareholders Will Receive A Bigger Dividend Than Last Year

Feb 10
AltaGas' (TSE:ALA) Shareholders Will Receive A Bigger Dividend Than Last Year

EMA

CA$56.61

Emera

7D

1.2%

1Y

17.5%

Is Emera (TSE:EMA) A Risky Investment?

Feb 08
Is Emera (TSE:EMA) A Risky Investment?

CU

CA$34.19

Canadian Utilities

7D

-0.03%

1Y

11.2%

MXG

CA$5.67

Maxim Power

7D

-2.2%

1Y

31.3%

Returns At Maxim Power (TSE:MXG) Are On The Way Up

Dec 31
Returns At Maxim Power (TSE:MXG) Are On The Way Up