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Canadian (TSX) Electric Utilities Industry Analysis

UpdatedMar 30, 2026
DataAggregated Company Financials
Companies4
  • 7D1.1%
  • 3M6.7%
  • 1Y18.5%
  • YTDn/a

In the last week, the Electric Utilities industry is up 1.1%, with Fortis up 2.1%. In the last 12 months, the industry was up 19%. 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
Tue, 31 Mar 2026CA$95.5bCA$30.3bCA$4.1b22.1x23.2x3.2x
Thu, 26 Feb 2026CA$96.0bCA$30.3bCA$4.1b22x23.3x3.2x
Sat, 24 Jan 2026CA$89.2bCA$29.7bCA$4.1b20.1x21.6x3x
Mon, 22 Dec 2025CA$88.0bCA$29.7bCA$4.1b19.5x21.3x3x
Wed, 19 Nov 2025CA$90.5bCA$29.7bCA$4.1b20.2x21.9x3x
Fri, 17 Oct 2025CA$88.3bCA$29.1bCA$3.9b22.4x22.8x3x
Sun, 14 Sep 2025CA$83.8bCA$29.1bCA$3.9b21.2x21.6x2.9x
Tue, 12 Aug 2025CA$86.1bCA$29.1bCA$3.8b21.6x22.4x3x
Thu, 10 Jul 2025CA$80.7bCA$28.6bCA$3.8b20.5x21.3x2.8x
Sat, 07 Jun 2025CA$81.6bCA$28.6bCA$3.8b20.3x21.6x2.9x
Mon, 05 May 2025CA$83.6bCA$27.5bCA$3.3b24x25.4x3x
Wed, 02 Apr 2025CA$80.3bCA$27.5bCA$3.3b23x24.4x2.9x
Fri, 28 Feb 2025CA$76.5bCA$27.5bCA$3.3b21.5x23.2x2.8x
Sun, 26 Jan 2025CA$73.7bCA$27.5bCA$3.4b21.2x21.7x2.7x
Tue, 24 Dec 2024CA$72.8bCA$27.5bCA$3.4b21.1x21.4x2.6x
Thu, 21 Nov 2024CA$73.8bCA$27.5bCA$3.4b21.7x21.8x2.7x
Sat, 19 Oct 2024CA$74.5bCA$27.1bCA$3.5b20.7x21.6x2.7x
Mon, 16 Sep 2024CA$75.3bCA$27.1bCA$3.5b20.5x21.8x2.8x
Wed, 14 Aug 2024CA$69.9bCA$27.0bCA$3.4b19.2x20.4x2.6x
Fri, 12 Jul 2024CA$64.7bCA$26.7bCA$3.3b19.5x19.7x2.4x
Sun, 09 Jun 2024CA$65.9bCA$26.7bCA$3.3b19.9x20x2.5x
Tue, 07 May 2024CA$65.0bCA$27.0bCA$3.6b15.8x17.9x2.4x
Thu, 04 Apr 2024CA$63.7bCA$27.2bCA$3.6b15.9x17.7x2.3x
Sat, 02 Mar 2024CA$64.0bCA$27.2bCA$3.6b15.5x17.7x2.4x
Mon, 29 Jan 2024CA$64.3bCA$27.8bCA$3.8b14.7x17x2.3x
Wed, 27 Dec 2023CA$63.9bCA$27.8bCA$3.8b14.7x16.9x2.3x
Fri, 24 Nov 2023CA$64.0bCA$27.8bCA$3.8b15.1x16.9x2.3x
Sun, 22 Oct 2023CA$59.3bCA$27.8bCA$3.7b15.7x15.9x2.1x
Tue, 19 Sep 2023CA$64.3bCA$27.8bCA$3.7b16.4x17.2x2.3x
Thu, 17 Aug 2023CA$62.5bCA$27.8bCA$3.7b16.2x16.7x2.2x
Sat, 15 Jul 2023CA$66.0bCA$27.6bCA$3.6b16.8x18.2x2.4x
Mon, 12 Jun 2023CA$65.8bCA$27.6bCA$3.6b17.5x18.2x2.4x
Wed, 10 May 2023CA$69.7bCA$27.2bCA$3.4b18.9x20.4x2.6x
Fri, 07 Apr 2023CA$68.9bCA$26.7bCA$3.4b19.1x20.5x2.6x
Price to Earnings Ratio

20.5x


Total Market Cap: CA$68.9bTotal Earnings: CA$3.4bTotal Revenue: CA$26.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Electric Utilities Industry Price to Earnings3Y Average 20.2x202420252026
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 23.2x which is higher than its 3-year average PE of 20.2x.
  • 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 Comparison

How does Canadian Electric Utilities compare with similar industries?

CA Market2.28%
Utilities2.92%
Electric Utilities1.15%
Electric Utilities1.15%
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$78.063.1%
+CA$1.2b		19.1%PE23.1x
EMA EmeraCA$72.133.5%
+CA$742.4m		19.0%PE21.6x
H Hydro OneCA$57.591.9%
+CA$629.8m		19.0%PE25.8x
CUP.U Caribbean Utilities CompanyUS$13.960.9%
+US$5.1m		5.4%PE12.8x

Latest News

EMA
CA$72.13
Emera
7D
3.5%
1Y
19.0%

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$57.59
Hydro One
7D
1.9%
1Y
19.0%

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.
FTS
CA$78.06
Fortis
7D
3.1%
1Y
19.1%

FTS: Fairly Valued Outlook Will Rely On Regulated Returns And Funding Conditions

Analysts have nudged the average price target for Fortis higher by roughly CA$1 to about CA$76.43. This reflects a modest adjustment to fair value estimates alongside slightly lower discount rate assumptions, while revenue growth, profit margin and future P/E expectations are being kept essentially unchanged.
CUP.U
US$13.96
Caribbean Utilities Company
7D
0.9%
1Y
5.4%