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Canadian (TSX) Gas Utilities Industry Analysis

UpdatedSep 16, 2025
DataAggregated Company Financials
Companies4
  • 7D1.5%
  • 3M6.1%
  • 1Y15.1%
  • YTD24.6%

The Gas Utilities industry has been flat over the last week, but CF Energy has lost 8.6%. As for the the longer term, the industry is up 14% over the past 12 months. Earnings are forecast to grow by 2.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Sep 2025CA$14.2bCA$16.4bCA$826.1m16.1x17.2x0.9x
Thu, 14 Aug 2025CA$14.0bCA$16.4bCA$786.4m16x17.8x0.9x
Sat, 12 Jul 2025CA$13.4bCA$16.3bCA$569.2m20.8x23.5x0.8x
Mon, 09 Jun 2025CA$13.2bCA$16.3bCA$569.2m20.3x23.2x0.8x
Wed, 07 May 2025CA$13.2bCA$16.2bCA$498.3m11.8x26.6x0.8x
Fri, 04 Apr 2025CA$13.5bCA$15.9bCA$519.8m20.2x26x0.9x
Sun, 02 Mar 2025CA$12.2bCA$16.0bCA$428.3m21.6x28.5x0.8x
Tue, 28 Jan 2025CA$11.9bCA$16.0bCA$505.0m42.7x23.5x0.7x
Thu, 26 Dec 2024CA$11.5bCA$16.0bCA$505.0m42.7x22.8x0.7x
Sat, 23 Nov 2024CA$12.0bCA$15.9bCA$505.5m44.2x23.8x0.8x
Mon, 21 Oct 2024CA$12.5bCA$16.2bCA$421.6m24.8x29.7x0.8x
Wed, 18 Sep 2024CA$12.5bCA$16.1bCA$421.6m24.5x29.7x0.8x
Fri, 16 Aug 2024CA$11.9bCA$16.2bCA$453.2m23.2x26.3x0.7x
Sun, 14 Jul 2024CA$11.3bCA$16.0bCA$627.9m15.2x18.1x0.7x
Tue, 11 Jun 2024CA$11.5bCA$16.1bCA$628.2m15.2x18.3x0.7x
Thu, 09 May 2024CA$11.3bCA$16.0bCA$653.0m14.8x17.3x0.7x
Sat, 06 Apr 2024CA$11.1bCA$16.4bCA$694.0m13.5x16x0.7x
Mon, 04 Mar 2024CA$11.1bCA$17.1bCA$635.0m14.9x17.4x0.6x
Wed, 31 Jan 2024CA$10.7bCA$17.1bCA$620.4m14.4x17.3x0.6x
Fri, 29 Dec 2023CA$10.3bCA$17.1bCA$620.3m13.4x16.6x0.6x
Sun, 26 Nov 2023CA$10.3bCA$17.1bCA$619.3m13.4x16.7x0.6x
Tue, 24 Oct 2023CA$9.6bCA$17.1bCA$521.5m7.6x18.3x0.6x
Thu, 21 Sep 2023CA$10.3bCA$17.1bCA$521.4m8.1x19.8x0.6x
Sat, 19 Aug 2023CA$10.0bCA$17.1bCA$519.1m10.9x19.2x0.6x
Mon, 17 Jul 2023CA$9.3bCA$17.8bCA$378.5m12.2x24.6x0.5x
Wed, 14 Jun 2023CA$9.5bCA$17.8bCA$378.5m11.5x25x0.5x
Fri, 12 May 2023CA$8.8bCA$17.8bCA$379.3m9.8x23.1x0.5x
Sun, 09 Apr 2023CA$8.6bCA$17.5bCA$285.6m11.8x30.1x0.5x
Tue, 07 Mar 2023CA$9.1bCA$17.5bCA$285.6m11.9x31.9x0.5x
Thu, 02 Feb 2023CA$9.0bCA$16.5bCA$36.8m21.8x244.6x0.5x
Sat, 31 Dec 2022CA$9.0bCA$16.5bCA$36.8m21.2x244x0.5x
Mon, 28 Nov 2022CA$8.5bCA$16.5bCA$38.1m18.7x223.7x0.5x
Wed, 26 Oct 2022CA$9.2bCA$15.7bCA$294.6m27.1x31.2x0.6x
Fri, 23 Sep 2022CA$10.2bCA$15.7bCA$294.7m30.9x34.6x0.7x
Price to Earnings Ratio

34.6x


Total Market Cap: CA$10.2bTotal Earnings: CA$294.7mTotal Revenue: CA$15.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gas Utilities Industry Price to Earnings3Y Average 42.9x202320242025
Current Industry PE
  • Investors are pessimistic on the Canadian Gas Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 17.2x which is lower than its 3-year average PE of 43.0x.
  • The industry is trading close to its 3-year average PS ratio of 0.66x.
Past Earnings Growth
  • The earnings for companies in the Gas Utilities industry have grown 41% 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 Market1.35%
Utilities0.89%
Gas Utilities1.46%
Gas Utilities1.46%
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$41.941.4%
+CA$176.7m		18.8%PE16.1x
SPB Superior PlusCA$7.611.7%
+CA$29.0m		-4.2%PE28.4x
EVGN EverGen InfrastructureCA$0.505.3%
+CA$560.7k		-75.8%PS1x

Latest News

ALA
CA$41.94
AltaGas
7D
1.4%
1Y
18.8%

Utility Modernization And LPG Exports Will Secure Future Energy Value

Analysts have raised AltaGas's price target to CA$44.27, citing improved risk profile, sector-leading earnings growth, and greater confidence in its de-risked, high-growth midstream business. Analyst Commentary Bullish analysts see potential for attractive valuation expansion driven by AltaGas's de-risked and contracted high-growth midstream business.
SPB
CA$7.61
Superior Plus
7D
1.7%
1Y
-4.2%

Operational Transformation And Clean Energy Will Unlock Future Value

With Superior Plus’s consensus price target unchanged at CA$9.62, the notable rise in its future P/E from 10.33x to 14.35x suggests investors anticipate slower earnings growth, while the discount rate held steady. What's in the News Repurchased 7,400,000 shares (3.19%) for CAD 55.2 million between April and June 2025.
CFY
CA$0.17
CF Energy
7D
-2.9%
1Y
-8.1%
EVGN
CA$0.50
EverGen Infrastructure
7D
5.3%
1Y
-75.8%