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Canadian (TSX) Gas Utilities Industry Analysis

UpdatedJul 27, 2026
DataAggregated Company Financials
Companies4
  • 7D3.2%
  • 3M13.4%
  • 1Y39.4%
  • YTD33.4%

Over the last 7 days, the Gas Utilities industry has risen 3.2%, driven by gains from AltaGas of 3.5%. During this same period, the CF Energy underperformed, falling 5.3%. This means that the industry has gained 39% over the past year. Looking forward, earnings are forecast to grow by 29% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Jul 2026CA$19.6bCA$16.1bCA$557.1m32.4x35.2x1.2x
Wed, 24 Jun 2026CA$18.5bCA$16.1bCA$557.6m31.3x33.1x1.1x
Fri, 22 May 2026CA$18.1bCA$16.0bCA$554.6m31.1x32.7x1.1x
Sun, 19 Apr 2026CA$16.6bCA$16.2bCA$812.0m17.1x20.4x1x
Tue, 17 Mar 2026CA$16.5bCA$16.2bCA$812.2m17.9x20.3x1x
Thu, 12 Feb 2026CA$14.8bCA$16.1bCA$752.9m17.9x19.7x0.9x
Sat, 10 Jan 2026CA$14.4bCA$16.2bCA$753.5m16.9x19.1x0.9x
Mon, 08 Dec 2025CA$14.7bCA$16.2bCA$753.3m17.6x19.5x0.9x
Wed, 05 Nov 2025CA$14.1bCA$16.3bCA$793.6m16.2x17.8x0.9x
Fri, 03 Oct 2025CA$14.7bCA$16.4bCA$827.0m16.6x17.8x0.9x
Sun, 31 Aug 2025CA$13.8bCA$16.4bCA$825.9m15.6x16.7x0.8x
Tue, 29 Jul 2025CA$13.6bCA$16.3bCA$569.3m21.4x23.9x0.8x
Thu, 26 Jun 2025CA$13.3bCA$16.3bCA$569.3m20.4x23.4x0.8x
Sat, 24 May 2025CA$13.1bCA$16.3bCA$570.6m20.2x22.9x0.8x
Mon, 21 Apr 2025CA$13.5bCA$15.9bCA$520.7m20.7x26x0.9x
Wed, 19 Mar 2025CA$12.7bCA$16.0bCA$519.0m19.5x24.4x0.8x
Fri, 14 Feb 2025CA$11.7bCA$16.0bCA$504.7m41.6x23.3x0.7x
Sun, 12 Jan 2025CA$11.8bCA$16.1bCA$505.1m42.3x23.3x0.7x
Tue, 10 Dec 2024CA$11.9bCA$16.0bCA$504.7m45.6x23.5x0.7x
Thu, 07 Nov 2024CA$11.5bCA$15.9bCA$480.6m20.2x24x0.7x
Sat, 05 Oct 2024CA$11.9bCA$16.1bCA$421.6m23.5x28.2x0.7x
Mon, 02 Sep 2024CA$12.2bCA$16.1bCA$421.0m23.9x29.1x0.8x
Wed, 31 Jul 2024CA$11.7bCA$16.1bCA$628.4m16.1x18.7x0.7x
Fri, 28 Jun 2024CA$11.3bCA$16.1bCA$628.0m15x18x0.7x
Sun, 26 May 2024CA$11.4bCA$16.0bCA$627.5m14.9x18.1x0.7x
Tue, 23 Apr 2024CA$11.3bCA$16.4bCA$694.0m13.8x16.2x0.7x
Thu, 21 Mar 2024CA$11.2bCA$16.4bCA$694.0m13.6x16.2x0.7x
Sat, 17 Feb 2024CA$10.6bCA$17.1bCA$620.4m14.3x17.1x0.6x
Mon, 15 Jan 2024CA$10.8bCA$17.1bCA$620.4m14.4x17.5x0.6x
Wed, 13 Dec 2023CA$10.0bCA$17.1bCA$620.4m13.1x16.2x0.6x
Fri, 10 Nov 2023CA$9.9bCA$17.1bCA$618.3m12.8x16.1x0.6x
Sun, 08 Oct 2023CA$9.9bCA$17.1bCA$521.5m7.8x19x0.6x
Tue, 05 Sep 2023CA$10.3bCA$17.1bCA$521.5m8.1x19.7x0.6x
Thu, 03 Aug 2023CA$9.8bCA$17.2bCA$475.5m11.4x20.6x0.6x
Price to Earnings Ratio

20.6x


Total Market Cap: CA$9.8bTotal Earnings: CA$475.5mTotal Revenue: CA$17.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gas Utilities Industry Price to Earnings3Y Average 21.7x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Gas Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 35.2x which is higher than its 3-year average PE of 21.7x.
  • The 3-year average PS ratio of 0.79x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Gas Utilities industry have grown 5.4% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.1% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

CA Market0.56%
Utilities1.82%
Gas Utilities3.22%
Gas Utilities3.22%
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$57.183.9%
+CA$667.7m		42.4%PE35.5x
SPB Superior PlusCA$8.171.0%
+CA$17.2m		18.6%PE32.4x
EVGN EverGen InfrastructureCA$0.463.4%
+CA$388.2k		1.1%PS1x

Latest News

ALA
CA$57.18
AltaGas
7D
3.9%
1Y
42.4%
Narrative Update • Jul 22

ALA: Rail Export Partnership And Sector Re-Rating Could Support Balanced Return Profile

AltaGas' updated analyst price target has moved from CA$55.82 to CA$57.55, reflecting analysts' latest models that factor in revised revenue growth assumptions, lower projected profit margins, and a higher future P/E multiple, supported by recent increases in Street targets across the sector. Analyst Commentary Recent Street research on AltaGas points to a cluster of higher price targets, with several bullish analysts updating their models after reviewing the latest sector data and company disclosures.
SPB
CA$8.17
Superior Plus
7D
1.0%
1Y
18.6%
Narrative Update • Jul 21

SPB: Share Repurchases And Modest Efficiency Gains Will Support Measured Repricing

Analysts have lifted the average price target on Superior Plus to about CA$8.88 from roughly CA$7.80, reflecting updated views on revenue growth, profitability and valuation multiples across recent research reports. Analyst Commentary Recent research on Superior Plus shows a cluster of higher price targets, with analysts updating their views on valuation, execution risks, and potential growth from the company’s current base.
EVGN
CA$0.46
EverGen Infrastructure
7D
3.4%
1Y
1.1%
CFY
CA$0.09
CF Energy
7D
-5.3%
1Y
-52.6%