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Canadian (TSX) Electric Utilities Industry Analysis

UpdatedJan 07, 2026
DataAggregated Company Financials
Companies4
  • 7D-0.2%
  • 3M3.9%
  • 1Y21.4%
  • YTD-0.3%

In the last week, Electric Utilities has been flat. The past year has been better, since the industry has gained 21% in that time. Looking forward, earnings are forecast to grow by 6.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 08 Jan 2026CA$88.3bCA$29.7bCA$4.1b19.8x21.3x3x
Sat, 06 Dec 2025CA$88.2bCA$29.7bCA$4.1b19.5x21.3x3x
Mon, 03 Nov 2025CA$86.9bCA$29.1bCA$3.9b21.8x22.4x3x
Wed, 01 Oct 2025CA$84.8bCA$29.1bCA$3.9b21.8x21.9x2.9x
Fri, 29 Aug 2025CA$85.0bCA$29.1bCA$3.9b21.2x21.9x2.9x
Sun, 27 Jul 2025CA$82.6bCA$28.6bCA$3.8b21.2x21.9x2.9x
Tue, 24 Jun 2025CA$81.1bCA$28.6bCA$3.8b20.5x21.5x2.8x
Thu, 22 May 2025CA$82.5bCA$28.6bCA$3.8b20.8x21.8x2.9x
Sat, 19 Apr 2025CA$82.8bCA$27.5bCA$3.3b23.7x25.1x3x
Mon, 17 Mar 2025CA$78.9bCA$27.5bCA$3.3b22.4x23.9x2.9x
Wed, 12 Feb 2025CA$75.6bCA$27.5bCA$3.4b21.7x22.3x2.7x
Fri, 10 Jan 2025CA$72.9bCA$27.5bCA$3.4b21x21.5x2.6x
Sun, 08 Dec 2024CA$76.2bCA$27.5bCA$3.4b22.1x22.5x2.8x
Tue, 05 Nov 2024CA$72.0bCA$27.1bCA$3.5b19.6x20.8x2.7x
Thu, 03 Oct 2024CA$74.6bCA$27.1bCA$3.5b20.4x21.6x2.7x
Sat, 31 Aug 2024CA$71.5bCA$27.1bCA$3.5b19.5x20.7x2.6x
Mon, 29 Jul 2024CA$68.2bCA$26.7bCA$3.3b20.5x20.7x2.6x
Wed, 26 Jun 2024CA$63.9bCA$26.7bCA$3.3b19.2x19.4x2.4x
Fri, 24 May 2024CA$66.2bCA$26.7bCA$3.3b19.7x20.1x2.5x
Sun, 21 Apr 2024CA$62.6bCA$27.2bCA$3.6b15.5x17.4x2.3x
Tue, 19 Mar 2024CA$64.9bCA$27.2bCA$3.6b15.7x18x2.4x
Thu, 15 Feb 2024CA$62.8bCA$27.6bCA$3.8b14.4x16.5x2.3x
Sat, 13 Jan 2024CA$65.1bCA$27.8bCA$3.8b15.2x17.2x2.3x
Mon, 11 Dec 2023CA$64.3bCA$27.8bCA$3.8b14.8x17x2.3x
Wed, 08 Nov 2023CA$63.9bCA$28.0bCA$3.8b15x16.8x2.3x
Fri, 06 Oct 2023CA$60.3bCA$27.8bCA$3.7b15.9x16.2x2.2x
Sun, 03 Sep 2023CA$62.1bCA$27.8bCA$3.7b16.2x16.6x2.2x
Tue, 01 Aug 2023CA$64.7bCA$27.6bCA$3.6b16.7x17.9x2.3x
Thu, 29 Jun 2023CA$64.5bCA$27.6bCA$3.6b17x17.8x2.3x
Sat, 27 May 2023CA$66.8bCA$27.6bCA$3.6b17.8x18.5x2.4x
Mon, 24 Apr 2023CA$69.3bCA$26.7bCA$3.4b19.3x20.6x2.6x
Wed, 22 Mar 2023CA$64.1bCA$26.7bCA$3.4b18.4x19.1x2.4x
Fri, 17 Feb 2023CA$63.0bCA$26.2bCA$3.2b19.2x19.7x2.4x
Sun, 15 Jan 2023CA$64.3bCA$25.5bCA$3.1b19.7x20.5x2.5x
Price to Earnings Ratio

20.5x


Total Market Cap: CA$64.3bTotal Earnings: CA$3.1bTotal Revenue: CA$25.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Electric Utilities Industry Price to Earnings3Y Average 20x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Electric 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 20.0x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have grown 9.7% per year over the last three years.
  • Revenues for these companies have grown 5.2% 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 Market1.51%
Utilities0.74%
Electric Utilities-0.21%
Electric Utilities-0.21%
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
EMA EmeraCA$67.670.04%
+CA$9.1m		27.2%PE18.6x

Latest News

H
CA$54.29
Hydro One
7D
-0.6%
1Y
22.4%

H: Regulated Returns And EPS Outlook Will Support Defensive Positioning

Analysts have nudged their average price target on Hydro One higher into the low C$50s, reflecting updated sector views that emphasize the role of regulated utilities as a defensive hedge, alongside expectations for generally solid loads and new rates. Analyst Commentary Recent Street research has clustered around higher fair value estimates for Hydro One, with several firms lifting their price targets into a C$52 to C$57 range while maintaining mid tier ratings such as Market Perform, Sector Perform and Neutral.
FTS
CA$70.99
Fortis
7D
-0.5%
1Y
17.6%

FTS: Fairly Valued Shares Will Balance Dividend Stability With Regulated Rate Base Expansion

Analysts have lifted their price expectations for Fortis to a range of C$69 to C$79, reflecting updated models and views that its diverse utility footprint and projected 7.0% five year rate base CAGR remain supportive for the shares. Analyst Commentary Recent research updates show a tighter cluster of price targets for Fortis, with most sitting in the C$69 to C$79 range.
EMA
CA$67.67
Emera
7D
0.04%
1Y
27.2%
CUP.U
US$13.30
Caribbean Utilities Company
7D
-2.8%
1Y
-4.3%