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U.S. Utilities Sector Analysis

UpdatedJan 21, 2026
DataAggregated Company Financials
Companies114
  • 7D-0.09%
  • 3M-4.7%
  • 1Y8.5%
  • YTD-0.6%

Over the last 7 days, the Utilities industry has remained flat, although notably Constellation Energy declined by 11%. As for the the longer term, the industry is up 8.5% over the past 12 months. Looking forward, earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

Has the U.S. Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 21 Jan 2026US$1.6tUS$556.5bUS$68.8b20.5x22.8x2.8x
Fri, 19 Dec 2025US$1.5tUS$556.5bUS$68.5b19.6x22.1x2.7x
Sun, 16 Nov 2025US$1.6tUS$559.6bUS$68.1b20.5x23.3x2.8x
Tue, 14 Oct 2025US$1.6tUS$549.9bUS$63.6b21.3x25.3x2.9x
Thu, 11 Sep 2025US$1.5tUS$549.2bUS$63.7b20.2x23.1x2.7x
Sat, 09 Aug 2025US$1.5tUS$548.2bUS$63.6b20.9x24x2.8x
Mon, 07 Jul 2025US$1.4tUS$540.7bUS$63.8b20.6x22.6x2.7x
Wed, 04 Jun 2025US$1.4tUS$540.1bUS$64.0b20.7x22.5x2.7x
Fri, 02 May 2025US$1.4tUS$529.6bUS$64.4b21.1x21.6x2.6x
Sun, 30 Mar 2025US$1.4tUS$526.8bUS$63.5b20.9x21.6x2.6x
Tue, 25 Feb 2025US$1.4tUS$525.5bUS$62.1b20.6x22.5x2.7x
Thu, 23 Jan 2025US$1.4tUS$528.1bUS$58.6b19.7x23.8x2.6x
Sat, 21 Dec 2024US$1.3tUS$532.1bUS$61.1b19.8x21.4x2.5x
Mon, 18 Nov 2024US$1.4tUS$533.4bUS$61.6b20.5x22.5x2.6x
Wed, 16 Oct 2024US$1.4tUS$522.9bUS$60.5b20x23.2x2.7x
Fri, 13 Sep 2024US$1.3tUS$522.9bUS$60.5b19.7x22.1x2.6x
Sun, 11 Aug 2024US$1.3tUS$522.9bUS$60.7b19.4x21.2x2.5x
Tue, 09 Jul 2024US$1.2tUS$517.6bUS$60.4b17.9x19.8x2.3x
Thu, 06 Jun 2024US$1.2tUS$518.1bUS$60.4b18.1x20.6x2.4x
Sat, 04 May 2024US$1.2tUS$524.8bUS$58.2b18.8x20.4x2.3x
Mon, 01 Apr 2024US$1.2tUS$561.5bUS$56.9b18.5x20.9x2.1x
Wed, 28 Feb 2024US$1.1tUS$532.1bUS$55.9b17.6x19x2x
Fri, 26 Jan 2024US$1.1tUS$544.0bUS$53.2b18.2x19.9x1.9x
Sun, 24 Dec 2023US$1.1tUS$543.9bUS$53.5b19.2x20.7x2x
Tue, 21 Nov 2023US$1.1tUS$544.3bUS$53.4b18.8x20.3x2x
Thu, 19 Oct 2023US$1.0tUS$549.7bUS$50.8b18.9x20.2x1.9x
Sat, 16 Sep 2023US$1.1tUS$549.8bUS$50.8b20.3x21.9x2x
Mon, 14 Aug 2023US$1.1tUS$549.3bUS$49.6b20.9x22.7x2.1x
Wed, 12 Jul 2023US$1.1tUS$551.7bUS$45.7b20.5x25.1x2.1x
Fri, 09 Jun 2023US$1.2tUS$549.4bUS$46.6b20.5x24.8x2.1x
Sun, 07 May 2023US$1.2tUS$546.9bUS$45.5b20.9x26.2x2.2x
Tue, 04 Apr 2023US$1.2tUS$532.0bUS$45.1b20.8x25.9x2.2x
Thu, 02 Mar 2023US$1.1tUS$532.0bUS$45.2b19.8x24.5x2.1x
Sat, 28 Jan 2023US$1.2tUS$533.3bUS$50.5b21.2x23.6x2.2x
Price to Earnings Ratio

23.6x


Total Market Cap: US$1.2tTotal Earnings: US$50.5bTotal Revenue: US$533.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Utilities Sector Price to Earnings3Y Average 22.4x202420252026
Current Industry PE
  • Investors are relatively neutral on the American 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 22.4x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 11% 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 U.S. Utilities sector?

US Market-2.00%
Utilities-0.093%
Other Utilities1.67%
Gas Utilities0.83%
Water Utilities0.26%
Electric Utilities-0.22%
Renewable Energy-5.21%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 87.2x.
    • Analysts are expecting annual earnings growth of 21.9%, which is higher than its past year's earnings decline of 3.5% per year.
  • Investors are most pessimistic about the Gas Utilities industry, which is trading below its 3-year average of 30.5x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 22% over the next 5 years.
  • This is better than its past earnings decline of 3.5% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings grow by 8.7% 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
NEE NextEra EnergyUS$83.512.3%
+US$3.9b		17.9%PE26.7x
D Dominion EnergyUS$61.093.5%
+US$1.8b		9.3%PE20x
ED Consolidated EdisonUS$105.054.8%
+US$1.7b		12.7%PE18.6x
DUK Duke EnergyUS$119.551.8%
+US$1.7b		7.9%PE18.9x
EXC ExelonUS$44.953.8%
+US$1.6b		11.2%PE16.1x

Latest News

CEG
US$295.40
Constellation Energy
7D
-11.4%
1Y
-8.7%
VST
US$156.81
Vistra
7D
-8.5%
1Y
-15.4%

VST: Long Term Meta Nuclear Contracts Will Support Data Center Power Demand

Analysts nudged their price target on Vistra up to $293 from $288 as they factor in stronger contracted growth from long term Meta power agreements and updated expectations for revenue, margins and future P/E multiples across the independent power producer group. Analyst Commentary Bullish analysts are largely framing the latest Vistra moves, including long term power agreements with Meta and recent generation acquisitions, as supportive for the company’s valuation and earnings power within the independent power producer peer group.
ED
US$105.05
Consolidated Edison
7D
4.8%
1Y
12.7%
SO
US$88.82
Southern
7D
1.5%
1Y
4.8%
DUK
US$119.55
Duke Energy
7D
1.8%
1Y
7.9%
FE
US$47.26
FirstEnergy
7D
4.3%
1Y
17.3%
NEE
US$83.51
NextEra Energy
7D
2.3%
1Y
17.9%
SRE
US$88.43
Sempra
7D
-2.1%
1Y
2.2%
PCG
US$15.25
PG&E
7D
-3.1%
1Y
-11.8%

PCG: Data Center Demand And Grid Investment Cycle Will Drive Future Upside

PG&E's consensus analyst price target has recently shifted higher into the low $20s, with analysts pointing to sector-wide target resets, TD's view of a significant long term grid investment cycle tied to data center demand, and expectations that PG&E's current valuation does not fully reflect these themes, even as California cost of capital debates continue. Analyst Commentary Recent research highlights a split view on PG&E, with some analysts focused on long term grid investment tied to data center demand and others emphasizing regulatory risk around California's cost of capital.
PPL
US$36.91
PPL
7D
5.5%
1Y
9.9%

PPL: Future Returns Will Be Shaped By Data Center Interconnection Timelines

Narrative Update on PPL Analyst Price Target Analysts now see fair value for PPL nudging up from about $39.87 to $39.93 per share, reflecting updated assumptions around discount rates, revenue growth, profit margins, and future P/E multiples in the context of recent price target revisions in the $38 to $41 range. Analyst Commentary Recent price target moves for PPL cluster in a tight band around the high $30s to about $41, which lines up with the modest upward shift in the blended fair value estimate.
D
US$61.09
Dominion Energy
7D
3.5%
1Y
9.3%

D: Offshore Wind Project And Earnings Guidance Will Support Measured Forward Returns

Analysts have slightly increased their price target for Dominion Energy, raising fair value from about $63.73 to roughly $63.81 as they incorporate expectations for modestly higher revenue, a slightly higher future P/E multiple, and a small adjustment to anticipated profit margins. What's in the News Dominion Energy highlighted the Coastal Virginia Offshore Wind Project as critical for U.S. national security and meeting what it describes as Virginia’s rapidly growing energy demand.
EIX
US$59.91
Edison International
7D
-1.3%
1Y
-3.7%

EIX: Future Returns Will Be Constrained By California ROE Cut Risk

Narrative Update Overview Analysts have raised their price targets on Edison International by between US$1 and US$6 per share, citing updated earnings estimates, the net present value of wildfire fund contributions, and refreshed sector views on regulated utilities and data center driven demand, while also weighing potential California cost of capital headwinds. Analyst Commentary Recent research on Edison International shows a split view.
NRG
US$148.91
NRG Energy
7D
-1.1%
1Y
33.5%

NRG: Data Center Pipelines And Buybacks Will Drive Future Upside

Analysts have slightly raised their fair value estimate for NRG Energy to about $201.96 from $201.58 and increased their price target to $145, reflecting updated views on long term profit margins and future P/E assumptions across regulated and diversified utilities and IPPs. Analyst Commentary Recent Street research around NRG Energy highlights a mix of optimism and caution as analysts update their views across the broader Regulated and Diversified Utilities and IPP group. Bullish Takeaways Bullish analysts are comfortable reaffirming a neutral stance while still lifting their price targets to US$145, which signals confidence that updated P/E assumptions and margin expectations support a higher fair value anchor for the stock.
TLN
US$356.66
Talen Energy
7D
-5.4%
1Y
46.4%

TLN: Data Center Demand And Caithness Deal Will Reshape Earnings Power

Analysts have lifted their blended price target on Talen Energy to about US$557 from roughly US$399, citing updated assumptions that reflect recent price target increases across the Street, the planned closing of the Caithness transaction by late 2025, higher forward power prices in PJM, and growing attention on Talen's role in supporting data center demand. Analyst Commentary Bullish analysts are framing the recent set of price target moves on Talen Energy as a re-marking of the stock to reflect updated deal assumptions, power market inputs in PJM, and rising visibility into data center related demand.
EXC
US$44.95
Exelon
7D
3.8%
1Y
11.2%

EXC: Pennsylvania Step Up And Wires Only Profile Should Support Upside

Analysts have lifted their average price target for Exelon by a little over $0.10 per share, citing a combination of higher P/E assumptions, slightly stronger modeled revenue growth, and ongoing regulatory visibility. These factors are partially offset by modestly softer profit margin expectations and affordability concerns.
OKLO
US$89.93
Oklo
7D
-7.4%
1Y
187.8%