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Canadian (TSX) Gas Utilities Industry Analysis

UpdatedFeb 19, 2026
DataAggregated Company Financials
Companies4
  • 7D5.0%
  • 3M4.5%
  • 1Y29.3%
  • YTD7.1%

In the last week, the Gas Utilities industry is up 6.0%, with AltaGas up 6.3%. Meanwhile, EverGen Infrastructure actually underperformed within the industry, shrinking 5.3% in the last week. This takes the industry's 12 month performance to a gain of 29%. Looking forward, earnings are forecast to grow by 3.1% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Feb 2026CA$15.7bCA$16.2bCA$753.1m18.8x20.8x1x
Sat, 17 Jan 2026CA$14.4bCA$16.2bCA$753.5m17.2x19.1x0.9x
Mon, 15 Dec 2025CA$14.5bCA$16.2bCA$753.2m17.5x19.3x0.9x
Wed, 12 Nov 2025CA$14.4bCA$16.3bCA$793.2m17x18.1x0.9x
Fri, 10 Oct 2025CA$14.6bCA$16.4bCA$827.3m16.3x17.6x0.9x
Sun, 07 Sep 2025CA$14.0bCA$16.4bCA$826.5m15.9x17x0.9x
Tue, 05 Aug 2025CA$13.9bCA$16.4bCA$786.4m15.9x17.7x0.8x
Thu, 03 Jul 2025CA$13.6bCA$16.3bCA$569.1m20.7x24x0.8x
Sat, 31 May 2025CA$13.3bCA$16.3bCA$569.0m20.4x23.4x0.8x
Mon, 28 Apr 2025CA$13.6bCA$15.9bCA$520.7m20.7x26.1x0.9x
Wed, 26 Mar 2025CA$13.1bCA$16.0bCA$519.0m20.1x25.2x0.8x
Fri, 21 Feb 2025CA$11.8bCA$16.0bCA$504.7m41.2x23.4x0.7x
Sun, 19 Jan 2025CA$12.0bCA$16.1bCA$505.2m43.1x23.7x0.7x
Tue, 17 Dec 2024CA$11.3bCA$16.0bCA$504.8m42.4x22.5x0.7x
Thu, 14 Nov 2024CA$11.5bCA$15.9bCA$504.8m44.4x22.9x0.7x
Sat, 12 Oct 2024CA$11.9bCA$16.2bCA$421.6m23.8x28.3x0.7x
Mon, 09 Sep 2024CA$12.2bCA$16.1bCA$421.6m23.8x28.8x0.8x
Wed, 07 Aug 2024CA$11.8bCA$16.2bCA$453.2m22.6x25.9x0.7x
Fri, 05 Jul 2024CA$11.4bCA$16.0bCA$627.9m15.3x18.2x0.7x
Sun, 02 Jun 2024CA$11.5bCA$16.0bCA$626.9m15.1x18.3x0.7x
Tue, 30 Apr 2024CA$11.3bCA$16.4bCA$693.9m14x16.3x0.7x
Thu, 28 Mar 2024CA$11.3bCA$16.4bCA$694.0m13.6x16.2x0.7x
Sat, 24 Feb 2024CA$10.9bCA$17.0bCA$635.0m14.7x17.1x0.6x
Mon, 22 Jan 2024CA$10.6bCA$17.1bCA$620.4m14x17.1x0.6x
Wed, 20 Dec 2023CA$10.1bCA$17.1bCA$620.4m13.2x16.3x0.6x
Fri, 17 Nov 2023CA$10.2bCA$17.1bCA$618.3m13.3x16.5x0.6x
Sun, 15 Oct 2023CA$10.1bCA$17.1bCA$521.5m8x19.3x0.6x
Tue, 12 Sep 2023CA$10.2bCA$17.1bCA$521.4m8x19.6x0.6x
Thu, 10 Aug 2023CA$9.8bCA$17.1bCA$519.1m11.3x19x0.6x
Sat, 08 Jul 2023CA$9.1bCA$17.8bCA$378.5m12.1x24.1x0.5x
Mon, 05 Jun 2023CA$8.9bCA$17.8bCA$378.5m12x23.5x0.5x
Wed, 03 May 2023CA$8.6bCA$17.7bCA$373.7m9.8x23.1x0.5x
Fri, 31 Mar 2023CA$8.6bCA$17.5bCA$285.6m11.2x30.1x0.5x
Sun, 26 Feb 2023CA$9.0bCA$16.8bCA$75.6m21.2x118.9x0.5x
Price to Earnings Ratio

118.9x


Total Market Cap: CA$9.0bTotal Earnings: CA$75.6mTotal Revenue: CA$16.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gas Utilities Industry Price to Earnings3Y Average 22.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Gas 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 22.6x.
  • The industry is trading close to its 3-year average PS ratio of 0.71x.
Past Earnings Growth
  • The earnings for companies in the Gas Utilities industry have grown 115% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

CA Market0.084%
Utilities3.32%
Gas Utilities4.99%
Gas Utilities4.99%
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
ALA AltaGasCA$45.005.2%
+CA$694.2m		29.4%PE18.8x
SPB Superior PlusCA$7.833.3%
+CA$54.2m		30.3%PE78x

Latest News

SPB
CA$7.83
Superior Plus
7D
3.3%
1Y
30.3%

SPB: Higher Discount Rates And Execution Risks Will Pressure Future Returns

Analysts have trimmed their CA$ price target on Superior Plus by a small amount, reflecting slightly higher discount rate assumptions along with modestly adjusted views on revenue growth, profit margins, and future P/E levels. Analyst Commentary Recent research on Superior Plus has taken a more restrained tone, with some price targets adjusted lower as analysts factor in higher discount rates and more conservative assumptions around revenue, margins, and P/E levels.
ALA
CA$45.00
AltaGas
7D
5.2%
1Y
29.4%

ALA: Montney Storage Expansion And Higher Dividend Will Support Future Upside

Analysts have adjusted their price outlook for AltaGas, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E expectations. Together, these factors have led to a revised price target of $47.09.
EVGN
CA$0.44
EverGen Infrastructure
7D
-9.3%
1Y
-56.0%

Is EverGen Infrastructure (CVE:EVGN) Weighed On By Its Debt Load?

Dec 21
Is EverGen Infrastructure (CVE:EVGN) Weighed On By Its Debt Load?