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Canadian (TSX) Utilities Sector Analysis

UpdatedJun 09, 2025
DataAggregated Company Financials
Companies27
  • 7D-0.8%
  • 3M4.0%
  • 1Y13.0%
  • YTD6.9%

Over the last 7 days, the Utilities industry has dropped 1.0%, driven by Fortis declining 3.0%. Meanwhile, Algonquin Power & Utilities actually outperformed within the industry, gaining 6.6% in the last week. Over the past 12 months, the industry was up 13%. Earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

Has the Canadian Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Jun 2025CA$163.0bCA$75.6bCA$5.8b19.8x28x2.2x
Wed, 07 May 2025CA$162.4bCA$74.6bCA$5.3b20.7x30.8x2.2x
Fri, 04 Apr 2025CA$160.2bCA$74.6bCA$5.5b20.7x29.2x2.1x
Sun, 02 Mar 2025CA$154.0bCA$75.5bCA$5.7b19.7x26.9x2x
Tue, 28 Jan 2025CA$143.2bCA$75.3bCA$5.3b20.6x26.9x1.9x
Thu, 26 Dec 2024CA$160.6bCA$82.1bCA$3.5b20.6x46x2x
Sat, 23 Nov 2024CA$164.1bCA$81.5bCA$3.5b21.5x46.4x2x
Mon, 21 Oct 2024CA$168.0bCA$81.2bCA$6.9b19.7x24.2x2.1x
Wed, 18 Sep 2024CA$164.0bCA$80.8bCA$6.9b19.5x23.7x2x
Fri, 16 Aug 2024CA$154.2bCA$81.1bCA$7.0b19x22.2x1.9x
Sun, 14 Jul 2024CA$151.0bCA$80.0bCA$7.2b14.3x20.9x1.9x
Tue, 11 Jun 2024CA$151.3bCA$80.2bCA$7.2b14.6x20.9x1.9x
Thu, 09 May 2024CA$147.2bCA$80.4bCA$8.1b14.2x18.2x1.8x
Sat, 06 Apr 2024CA$139.0bCA$80.8bCA$6.3b14.1x22.1x1.7x
Mon, 04 Mar 2024CA$140.4bCA$81.7bCA$5.9b14.9x23.9x1.7x
Wed, 31 Jan 2024CA$149.1bCA$85.3bCA$8.7b14.6x17.1x1.7x
Fri, 29 Dec 2023CA$148.1bCA$85.1bCA$8.7b14.6x17x1.7x
Sun, 26 Nov 2023CA$144.7bCA$85.6bCA$8.8b14.1x16.5x1.7x
Tue, 24 Oct 2023CA$134.4bCA$85.2bCA$6.8b13.4x19.8x1.6x
Thu, 21 Sep 2023CA$148.1bCA$85.0bCA$6.8b14.7x21.9x1.7x
Sat, 19 Aug 2023CA$147.8bCA$85.0bCA$6.8b14.6x21.8x1.7x
Mon, 17 Jul 2023CA$157.4bCA$85.2bCA$7.9b14.1x19.8x1.8x
Wed, 14 Jun 2023CA$158.7bCA$85.3bCA$7.9b15.2x20x1.9x
Fri, 12 May 2023CA$166.3bCA$85.1bCA$7.8b16.4x21.4x2x
Sun, 09 Apr 2023CA$165.2bCA$82.8bCA$7.2b16.4x23.1x2x
Tue, 07 Mar 2023CA$152.8bCA$82.7bCA$7.5b17x20.3x1.8x
Thu, 02 Feb 2023CA$154.4bCA$79.1bCA$6.0b17.5x25.9x2x
Sat, 31 Dec 2022CA$151.1bCA$79.4bCA$6.0b17.2x25.3x1.9x
Mon, 28 Nov 2022CA$157.8bCA$79.0bCA$6.6b19.1x23.9x2x
Wed, 26 Oct 2022CA$155.4bCA$75.8bCA$5.9b20.7x26.5x2x
Fri, 23 Sep 2022CA$176.5bCA$75.7bCA$5.9b21.4x30.1x2.3x
Sun, 21 Aug 2022CA$185.6bCA$74.9bCA$5.9b23x31.5x2.5x
Tue, 19 Jul 2022CA$175.6bCA$68.4bCA$4.2b27x42.2x2.6x
Thu, 16 Jun 2022CA$170.2bCA$68.4bCA$4.2b26x40.9x2.5x
Price to Earnings Ratio

40.9x


Total Market Cap: CA$170.2bTotal Earnings: CA$4.2bTotal Revenue: CA$68.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Utilities Sector Price to Earnings3Y Average 25.4x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 28.0x which is higher than its 3-year average PE of 25.4x.
  • The 3-year average PS ratio of 2.0x is lower than the industry's current PS ratio of 2.2x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 12% per year over the last three years.
  • Revenues for these companies have grown 3.4% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

CA Market0.21%
Utilities-0.80%
Renewable Energy1.69%
Other Utilities0.80%
Gas Utilities-0.34%
Electric Utilities-2.67%
Water Utilities-5.28%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 20.3x.
    • Analysts are expecting annual earnings growth of 33.1%, which is higher than its past year's earnings decline of 52.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 53% per year.
  • In contrast, the Electric Utilities industry is expected to see its earnings grow by 6.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AQN Algonquin Power & UtilitiesCA$8.029.0%
+CA$506.8m		-1.6%PE17.9x
TA TransAltaCA$14.184.7%
+CA$189.7m		41.7%PE4203.7x
CPX Capital PowerCA$56.011.9%
+CA$159.3m		36.5%PE14.1x
NPI Northland PowerCA$20.752.6%
+CA$138.6m		-14.9%PE21.1x
BLX BoralexCA$31.840.8%
+CA$26.7m		-9.0%PE297.5x
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Latest News

H

CA$49.44

Hydro One

7D

-2.6%

1Y

21.6%

NPI

CA$20.75

Northland Power

7D

2.6%

1Y

-14.9%

AQN

CA$8.02

Algonquin Power & Utilities

7D

9.0%

1Y

-1.6%

SPB

CA$7.84

Superior Plus

7D

0.8%

1Y

-15.2%

PIF

CA$11.80

Polaris Renewable Energy

7D

-2.5%

1Y

-12.5%

INE

CA$13.73

Innergex Renewable Energy

7D

0.1%

1Y

28.6%

ALA

CA$38.13

AltaGas

7D

-0.5%

1Y

22.6%

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TA

CA$14.18

TransAlta

7D

4.7%

1Y

41.7%

ACO.X

CA$50.48

ATCO

7D

-2.2%

1Y

25.5%

BLX

CA$31.84

Boralex

7D

0.8%

1Y

-9.0%

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MXG

CA$4.43

Maxim Power

7D

2.8%

1Y

7.3%

EMA

CA$60.51

Emera

7D

-3.1%

1Y

27.5%

FTS

CA$65.04

Fortis

7D

-2.5%

1Y

18.5%

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CU

CA$37.66

Canadian Utilities

7D

-1.9%

1Y

20.8%

CPX

CA$56.01

Capital Power

7D

1.9%

1Y

36.5%

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May 02
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PRME

CA$0.10

Prime Drink Group

7D

-8.7%

1Y

n/a