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Canadian (TSX) Gas Utilities Industry Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies4
  • 7D1.8%
  • 3M14.2%
  • 1Y24.5%
  • YTD11.9%

The Gas Utilities industry is up 1.3% in the last week, with AltaGas up 1.7%. This means that the industry has gained 26% over the past year. Looking forward, earnings are forecast to grow by 8.3% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Mar 2026CA$16.4bCA$16.2bCA$812.0m18.5x20.2x1x
Sat, 14 Feb 2026CA$15.5bCA$16.1bCA$753.0m18.8x20.6x1x
Mon, 12 Jan 2026CA$14.2bCA$16.2bCA$753.5m16.9x18.8x0.9x
Wed, 10 Dec 2025CA$14.4bCA$16.2bCA$753.4m17.3x19.1x0.9x
Fri, 07 Nov 2025CA$13.9bCA$16.3bCA$793.7m16.6x17.5x0.9x
Sun, 05 Oct 2025CA$14.8bCA$16.4bCA$826.9m16.7x17.9x0.9x
Tue, 02 Sep 2025CA$13.8bCA$16.4bCA$825.9m15.6x16.7x0.8x
Thu, 31 Jul 2025CA$13.7bCA$16.3bCA$569.5m21.8x24.1x0.8x
Sat, 28 Jun 2025CA$13.3bCA$16.3bCA$569.2m20.5x23.4x0.8x
Mon, 26 May 2025CA$13.2bCA$16.3bCA$570.6m20.2x23.1x0.8x
Wed, 23 Apr 2025CA$13.3bCA$15.8bCA$520.8m20.5x25.6x0.8x
Fri, 21 Mar 2025CA$12.8bCA$16.0bCA$518.9m19.8x24.7x0.8x
Sun, 16 Feb 2025CA$11.7bCA$16.0bCA$504.7m41.3x23.2x0.7x
Tue, 14 Jan 2025CA$11.8bCA$16.0bCA$505.1m41.8x23.3x0.7x
Thu, 12 Dec 2024CA$11.7bCA$16.0bCA$504.7m45.4x23.1x0.7x
Sat, 09 Nov 2024CA$11.3bCA$15.9bCA$480.6m20.3x23.6x0.7x
Mon, 07 Oct 2024CA$12.0bCA$16.1bCA$421.6m23.5x28.5x0.7x
Wed, 04 Sep 2024CA$12.2bCA$16.1bCA$421.6m23.6x29x0.8x
Fri, 02 Aug 2024CA$11.8bCA$16.1bCA$628.4m16.6x18.8x0.7x
Sun, 30 Jun 2024CA$11.4bCA$16.1bCA$628.0m15.2x18.2x0.7x
Tue, 28 May 2024CA$11.4bCA$16.0bCA$627.4m14.9x18.1x0.7x
Thu, 25 Apr 2024CA$11.3bCA$16.4bCA$693.9m13.9x16.2x0.7x
Sat, 23 Mar 2024CA$11.2bCA$16.4bCA$694.0m13.4x16.1x0.7x
Mon, 19 Feb 2024CA$10.7bCA$17.1bCA$620.4m14.3x17.3x0.6x
Wed, 17 Jan 2024CA$10.9bCA$17.1bCA$620.4m14.4x17.6x0.6x
Fri, 15 Dec 2023CA$10.3bCA$17.1bCA$620.4m13.3x16.5x0.6x
Sun, 12 Nov 2023CA$9.9bCA$17.1bCA$618.3m12.8x16x0.6x
Tue, 10 Oct 2023CA$9.9bCA$17.1bCA$521.5m7.8x19x0.6x
Thu, 07 Sep 2023CA$10.1bCA$17.1bCA$521.5m8x19.3x0.6x
Sat, 05 Aug 2023CA$9.8bCA$17.1bCA$534.2m11.4x18.4x0.6x
Mon, 03 Jul 2023CA$9.1bCA$17.8bCA$378.4m12.1x24.1x0.5x
Wed, 31 May 2023CA$8.8bCA$17.8bCA$380.1m9.5x23.1x0.5x
Fri, 28 Apr 2023CA$8.7bCA$17.7bCA$373.2m10.3x23.4x0.5x
Sun, 26 Mar 2023CA$8.3bCA$17.5bCA$285.7m10.8x29.1x0.5x
Price to Earnings Ratio

29.1x


Total Market Cap: CA$8.3bTotal Earnings: CA$285.7mTotal Revenue: CA$17.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gas Utilities Industry Price to Earnings3Y Average 21.3x202420252026
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 21.3x.
  • The 3-year average PS ratio of 0.72x is lower than the industry's current PS ratio of 1.0x.
Past Earnings Growth
  • The earnings for companies in the Gas Utilities industry have grown 42% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.7% 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 Market-1.22%
Utilities2.14%
Gas Utilities1.85%
Gas Utilities1.85%
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$48.402.3%
+CA$336.4m		28.2%PE20.2x
SPB Superior PlusCA$6.775.6%
+CA$75.5m		2.1%PE18.4x

Latest News

SPB
CA$6.77
Superior Plus
7D
5.6%
1Y
2.1%

SPB: Execution Setbacks And Lower Guidance Will Pressure Future Share Returns

Analysts have reduced their average price targets on Superior Plus by roughly CA$1 per share, citing weaker growth expectations, recent operational setbacks, and a more cautious stance on execution across both business lines. Analyst Commentary Recent Street research on Superior Plus points to a clear reset in expectations, with several bearish analysts cutting price targets and downgrading ratings after operational issues, guidance changes, and softer growth assumptions across both propane and compressed natural gas operations.
ALA
CA$48.40
AltaGas
7D
2.3%
1Y
28.2%

ALA: Montney Storage And Exports Will Support Balanced Future Return Potential

AltaGas' updated fair value estimate moves to CA$48.91 from CA$47.09, reflecting analysts' higher price targets in the CA$49 to CA$52 range, supported by revised assumptions on the discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent Street research has clustered around higher price targets for AltaGas in the CA$49 to CA$52 range, which aligns with the updated fair value estimate of CA$48.91.
CFY
CA$0.12
CF Energy
7D
-4.0%
1Y
-7.7%

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Feb 13
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EVGN
CA$0.36
EverGen Infrastructure
7D
-1.4%
1Y
-57.1%

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Dec 21
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