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U.S. Electric Utilities Industry Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies30
  • 7D1.0%
  • 3M8.1%
  • 1Y22.1%
  • YTD6.9%

Last week, the Electric Utilities industry hasn't moved much but Constellation Energy is up 7.0% in that time. As for the the longer term, the industry is up 22% over the past 12 months. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Apr 2026US$1.0tUS$332.6bUS$44.2b21.9x23.4x3.1x
Thu, 12 Mar 2026US$1.0tUS$332.6bUS$44.3b21.2x23x3.1x
Sat, 07 Feb 2026US$934.2bUS$326.2bUS$44.0b20.9x21.2x2.9x
Mon, 05 Jan 2026US$924.7bUS$324.7bUS$43.5b19.7x21.2x2.8x
Wed, 03 Dec 2025US$945.6bUS$326.2bUS$43.7b20.2x21.6x2.9x
Fri, 31 Oct 2025US$976.5bUS$323.4bUS$42.0b21.3x23.3x3x
Sun, 28 Sep 2025US$916.7bUS$320.7bUS$40.7b20.7x22.5x2.9x
Tue, 26 Aug 2025US$894.2bUS$320.7bUS$40.7b20.4x22x2.8x
Thu, 24 Jul 2025US$890.0bUS$316.4bUS$38.5b21.8x23.1x2.8x
Sat, 21 Jun 2025US$838.4bUS$316.4bUS$38.5b20.2x21.8x2.7x
Mon, 19 May 2025US$862.6bUS$316.4bUS$38.5b21x22.4x2.7x
Wed, 16 Apr 2025US$811.2bUS$309.3bUS$38.1b20.3x21.3x2.6x
Fri, 14 Mar 2025US$804.9bUS$309.3bUS$37.6b20.3x21.4x2.6x
Sun, 09 Feb 2025US$813.8bUS$308.6bUS$35.8b20.2x22.7x2.6x
Tue, 07 Jan 2025US$798.7bUS$310.4bUS$35.8b20.3x22.3x2.6x
Thu, 05 Dec 2024US$843.3bUS$319.1bUS$36.9b21.2x22.9x2.6x
Sat, 02 Nov 2024US$852.7bUS$318.5bUS$38.0b19.7x22.5x2.7x
Mon, 30 Sep 2024US$859.4bUS$316.7bUS$36.6b20x23.5x2.7x
Wed, 28 Aug 2024US$810.3bUS$316.7bUS$36.6b19.2x22.2x2.6x
Fri, 26 Jul 2024US$761.5bUS$312.6bUS$37.4b18.8x20.3x2.4x
Sun, 23 Jun 2024US$737.1bUS$313.6bUS$38.5b17x19.1x2.4x
Tue, 21 May 2024US$768.3bUS$314.0bUS$38.5b17.7x19.9x2.4x
Thu, 18 Apr 2024US$684.6bUS$316.8bUS$34.9b17.7x19.6x2.2x
Sat, 16 Mar 2024US$666.3bUS$316.8bUS$34.9b17.5x19.1x2.1x
Mon, 12 Feb 2024US$637.8bUS$322.7bUS$31.9b17.3x20x2x
Wed, 10 Jan 2024US$682.1bUS$322.4bUS$31.8b19.5x21.5x2.1x
Fri, 08 Dec 2023US$664.1bUS$322.4bUS$31.8b18.8x20.9x2.1x
Sun, 05 Nov 2023US$650.8bUS$323.1bUS$30.9b18.8x21x2x
Tue, 03 Oct 2023US$618.4bUS$325.0bUS$30.5b17.3x20.3x1.9x
Thu, 31 Aug 2023US$662.0bUS$325.0bUS$30.5b18.8x21.7x2x
Sat, 29 Jul 2023US$711.3bUS$327.1bUS$30.4b19.3x23.4x2.2x
Mon, 26 Jun 2023US$684.9bUS$325.6bUS$28.9b18.5x23.7x2.1x
Wed, 24 May 2023US$685.5bUS$323.5bUS$28.9b19.2x23.7x2.1x
Fri, 21 Apr 2023US$723.3bUS$314.2bUS$29.7b20.1x24.4x2.3x
Price to Earnings Ratio

24.4x


Total Market Cap: US$723.3bTotal Earnings: US$29.7bTotal Revenue: US$314.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Electric Utilities Industry Price to Earnings3Y Average 21.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Electric 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 21.8x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have grown 14% 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 industry?

US Market4.25%
Utilities0.59%
Electric Utilities0.97%
Electric Utilities0.97%
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
CEG Constellation EnergyUS$291.727.0%
+US$6.9b		40.0%PE45.6x
NRG NRG EnergyUS$170.2413.6%
+US$4.4b		77.5%PE45.8x
AEP American Electric Power CompanyUS$134.461.6%
+US$1.1b		26.2%PE20.4x
OKLO OkloUS$53.9410.6%
+US$899.1m		139.2%PB6.3x
PPL PPLUS$39.502.0%
+US$586.7m		11.4%PE25.2x

Latest News

OKLO
US$53.94
Oklo
7D
10.6%
1Y
139.2%
NEE
US$92.30
NextEra Energy
7D
-0.5%
1Y
36.4%

NextEra Energy: Iran War Exposes Flaws In Fossil Fuels, Advantages Of Renewables

Apr 13
PCG
US$17.74
PG&E
7D
0.4%
1Y
4.0%

PCG: Wildfire Policy Reform And Liability Reduction Will Drive Future Repricing

PG&E's analyst fair value estimate edges up by about $0.10 per share as analysts factor in updated wildfire policy developments, affordability considerations, and expectations that the stock's P/E discount could narrow with continued risk reduction. Analyst Commentary Recent Street research on PG&E points to a mix of optimism and caution, with several firms updating ratings and price targets as wildfire policy, affordability, and relative valuation stay in focus.
OTTR
US$91.88
Otter Tail
7D
3.8%
1Y
14.9%

OTTR: Neutral Outlook Will Balance Earnings Guidance With Execution And Legal Forum Risks

Analysts kept their fair value estimate for Otter Tail steady at $86.50. This reflects a neutral stance that aligns with recent Street research citing a balanced risk and reward profile.
PPL
US$39.50
PPL
7D
2.0%
1Y
11.4%

PPL: Future Returns Will Reflect Pennsylvania Outcomes And 2026 EPS Confidence

The updated analyst price target for PPL edges slightly higher to about $41.33. Analysts generally point to supportive regulatory backdrops, visible earnings growth expectations, and recent management commentary from investor meetings as key reasons behind their refined assumptions.
CEG
US$291.72
Constellation Energy
7D
7.0%
1Y
40.0%
ETR
US$115.33
Entergy
7D
0.7%
1Y
39.7%
NRG
US$170.24
NRG Energy
7D
13.6%
1Y
77.5%
AEP
US$134.46
American Electric Power Company
7D
1.6%
1Y
26.2%

AEP: Data Center Load Backlog And Grid Investments Will Shape Outlook

Analysts have raised their average price target for American Electric Power Company by roughly $4 to about $137. They attribute this change to updated models that factor in higher contracted load, a larger capital program in transmission and supply, and refined earnings assumptions following recent Q4 results.
LNT
US$72.51
Alliant Energy
7D
-0.2%
1Y
17.7%

LNT: Equity Offering Capacity And Dividend Commitments Will Support Fair Value

Analysts have maintained their price target for Alliant Energy at $75.45, citing unchanged assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E as the basis for their view. What's in the News Alliant Energy filed for a follow-on equity offering of up to US$1 billion in common stock through an at-the-market program, which can be used over time for corporate funding needs (Key Developments).
EXC
US$48.15
Exelon
7D
-1.6%
1Y
2.8%

EXC: Data Center Demand And Capex Plans Will Shape Grid Investment Outcomes

Analysts have lifted the implied fair value for Exelon by about $0.54 to $51.41. This reflects a series of higher Street price targets supported by updated utility sector models, new coverage with positive views, recent Q4 earnings and long term capital spending plans.
DUK
US$130.40
Duke Energy
7D
-0.8%
1Y
8.1%
SO
US$95.93
Southern
7D
-1.0%
1Y
5.2%

SO: Fair View Will Reflect Dam Safety Progress And Stable Future P/E

Analysts have nudged their price target on Southern slightly higher to $101.24. This reflects small refinements to their models around the discount rate, long term revenue growth, profit margin assumptions, and future P/E expectations.
EIX
US$72.39
Edison International
7D
-1.6%
1Y
26.5%

EIX: Wildfire Reform And Eaton Fire Litigation Will Pressure Future Equity Returns

Analysts have raised their average price target for Edison International by several dollars, reflecting higher revenue growth assumptions, a modestly lower discount rate, and updated views on long-term earnings visibility related to the capital plan and wildfire legislation, all of which factor into the new valuation. Analyst Commentary Recent Street research on Edison International shows a mix of optimism around the capital plan and earnings visibility, alongside clear pockets of caution around regulatory risk, wildfire exposure, and how much of this is already reflected in the valuation.
EVRG
US$82.45
Evergy
7D
-0.5%
1Y
21.5%

EVRG: Reaffirmed 8% Earnings Path Will Shape Balanced Future Expectations

Evergy's updated analyst price target nudged higher to $88.05, supported by analysts who point to reaffirmed earnings growth goals, recent upward target revisions in the $82 to $95 range, and a broadly steady view on margins and future P/E assumptions. Analyst Commentary Recent research shows a mixed but generally constructive tone around Evergy, with several firms lifting price targets into the low to mid US$80s and one as high as US$95, while a few more cautious voices highlight execution and demand risks.
ES
US$68.68
Eversource Energy
7D
-1.1%
1Y
17.4%

ES: Earnings Outlook And Dividend Policy Will Likely Support Fair Value Stability

Analysts have trimmed their price target on Eversource Energy to about $73 from roughly $75. This reflects updated assumptions around slightly higher expected revenue growth, a modestly lower profit margin, a small change in the discount rate, and a slightly lower future P/E multiple.