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Canadian (TSX) Electric Utilities Industry Analysis

UpdatedApr 04, 2026
DataAggregated Company Financials
Companies4
  • 7D2.5%
  • 3M8.9%
  • 1Y19.7%
  • YTD8.9%

In the last week, the Electric Utilities industry is up 1.9%, with all of the companies up. This means that the industry has gained 18% over the past year. Earnings are forecast to grow by 7.0% annually.

Industry Valuation and Performance

Has the Canadian Electric Utilities Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 04 Apr 2026CA$98.0bCA$30.3bCA$4.1b22.7x23.8x3.2x
Mon, 02 Mar 2026CA$97.0bCA$30.3bCA$4.1b22.2x23.6x3.2x
Wed, 28 Jan 2026CA$89.6bCA$29.7bCA$4.1b20.2x21.6x3x
Fri, 26 Dec 2025CA$88.5bCA$29.7bCA$4.1b19.7x21.4x3x
Sun, 23 Nov 2025CA$89.9bCA$29.7bCA$4.1b19.9x21.7x3x
Tue, 21 Oct 2025CA$89.1bCA$29.1bCA$3.9b22.5x23x3.1x
Thu, 18 Sep 2025CA$82.5bCA$29.1bCA$3.9b20.9x21.3x2.8x
Sat, 16 Aug 2025CA$85.8bCA$29.1bCA$3.9b21.7x22.1x2.9x
Mon, 14 Jul 2025CA$81.2bCA$28.6bCA$3.8b20.6x21.5x2.8x
Wed, 11 Jun 2025CA$80.5bCA$28.6bCA$3.8b20.3x21.3x2.8x
Fri, 09 May 2025CA$85.4bCA$27.7bCA$3.3b23.9x25.6x3.1x
Sun, 06 Apr 2025CA$80.9bCA$27.5bCA$3.3b22.9x24.5x2.9x
Tue, 04 Mar 2025CA$77.2bCA$27.5bCA$3.3b22x23.4x2.8x
Thu, 30 Jan 2025CA$74.5bCA$27.5bCA$3.4b21.3x21.9x2.7x
Sat, 28 Dec 2024CA$73.0bCA$27.5bCA$3.4b21.1x21.5x2.7x
Mon, 25 Nov 2024CA$74.5bCA$27.5bCA$3.4b21.9x21.9x2.7x
Wed, 23 Oct 2024CA$74.6bCA$27.1bCA$3.5b20.7x21.6x2.8x
Fri, 20 Sep 2024CA$74.4bCA$27.1bCA$3.5b20x21.6x2.7x
Sun, 18 Aug 2024CA$71.2bCA$27.1bCA$3.5b19.4x20.6x2.6x
Tue, 16 Jul 2024CA$65.0bCA$26.7bCA$3.3b19.4x19.8x2.4x
Thu, 13 Jun 2024CA$65.3bCA$26.7bCA$3.3b19.4x19.9x2.4x
Sat, 11 May 2024CA$66.1bCA$27.0bCA$3.6b16.2x18.2x2.4x
Mon, 08 Apr 2024CA$63.6bCA$27.2bCA$3.6b15.8x17.6x2.3x
Wed, 06 Mar 2024CA$64.4bCA$27.2bCA$3.6b15.7x17.9x2.4x
Fri, 02 Feb 2024CA$64.7bCA$27.8bCA$3.8b14.8x17.1x2.3x
Sun, 31 Dec 2023CA$64.8bCA$27.8bCA$3.8b14.9x17.1x2.3x
Tue, 28 Nov 2023CA$63.6bCA$27.8bCA$3.8b14.7x16.8x2.3x
Thu, 26 Oct 2023CA$60.6bCA$27.8bCA$3.7b15.9x16.2x2.2x
Sat, 23 Sep 2023CA$62.5bCA$27.8bCA$3.7b16.1x16.8x2.2x
Mon, 21 Aug 2023CA$62.7bCA$27.8bCA$3.7b16.1x16.8x2.3x
Wed, 19 Jul 2023CA$65.0bCA$27.6bCA$3.6b16.6x18x2.4x
Fri, 16 Jun 2023CA$65.1bCA$27.6bCA$3.6b17.2x18x2.4x
Sun, 14 May 2023CA$69.9bCA$27.6bCA$3.6b18.7x19.3x2.5x
Tue, 11 Apr 2023CA$69.0bCA$26.7bCA$3.4b19.2x20.5x2.6x
Price to Earnings Ratio

20.5x


Total Market Cap: CA$69.0bTotal Earnings: CA$3.4bTotal Revenue: CA$26.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Electric Utilities Industry Price to Earnings3Y Average 20.3x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Electric Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 23.4x which is higher than its 3-year average PE of 20.3x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.2x.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have grown 7.0% per year over the last three years.
  • Revenues for these companies have grown 4.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

CA Market3.31%
Utilities2.59%
Electric Utilities2.51%
Electric Utilities2.51%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
FTS FortisCA$79.022.2%
+CA$1.0b		20.3%PE23.5x
H Hydro OneCA$58.252.6%
+CA$887.7m		18.7%PE26.1x
EMA EmeraCA$73.322.8%
+CA$596.9m		20.5%PE21.9x
CUP.U Caribbean Utilities CompanyUS$14.515.5%
+US$31.8m		12.0%PE13.3x

Latest News

FTS
CA$79.02
Fortis
7D
2.2%
1Y
20.3%

FTS: Fairly Valued Outlook Will Depend On Regulated Returns And P E Assumptions

The analyst price target for Fortis has been lifted by CA$0.20 to CA$76.63, reflecting a series of recent target increases across major firms as analysts incorporate slightly higher revenue growth assumptions, a marginally lower discount rate, and modestly higher future P/E expectations, partly offset by more conservative profit margin forecasts. Analyst Commentary Recent Street research shows several price target adjustments for Fortis, with targets now quoted in the CA$77 to CA$83 range and a mix of Buy, Market Perform, and Sector Perform ratings.
EMA
CA$73.32
Emera
7D
2.8%
1Y
20.5%

EMA: Florida Stability And Nova Scotia Uncertainty Will Shape Future Returns

The updated analyst price target for Emera rises by about CA$1 to CA$70.75, reflecting recent target revisions from CA$72 to CA$75 as analysts weigh steady earnings guidance, valuation concerns, and differing views on the regulatory backdrop in Nova Scotia and growth prospects in Florida. Analyst Commentary Recent research views on Emera show a split between bullish analysts who are comfortable with the current outlook and valuation, and more cautious voices who see less room for upside at current levels.
H
CA$58.25
Hydro One
7D
2.6%
1Y
18.7%

H: Stable Outlook And Recent Commentary Will Shape Measured Repricing Expectations

Hydro One's analyst fair value estimate has shifted from CA$53.68 to CA$54.79. This change reflects a series of recent price target increases from analysts who point to updated revenue and earnings assumptions while generally maintaining mid range ratings on the stock.
CUP.U
US$14.51
Caribbean Utilities Company
7D
5.5%
1Y
12.0%