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U.S. Electric Utilities Industry Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies31
  • 7D-1.3%
  • 3M-6.8%
  • 1Y15.7%
  • YTD-1.3%

Over the last 7 days, the Electric Utilities industry has dropped 1.3%, driven by a pullback from NRG Energy of 10%. In the past year, the industry has gained 16%. 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
Sun, 11 Jan 2026US$931.0bUS$324.7bUS$43.5b20.1x21.4x2.9x
Tue, 09 Dec 2025US$929.2bUS$326.2bUS$43.7b19.9x21.3x2.8x
Thu, 06 Nov 2025US$958.0bUS$324.9bUS$42.1b21.4x22.7x2.9x
Sat, 04 Oct 2025US$936.5bUS$320.7bUS$40.7b21.1x23x2.9x
Mon, 01 Sep 2025US$880.4bUS$320.7bUS$40.7b20.2x21.6x2.7x
Wed, 30 Jul 2025US$872.6bUS$317.1bUS$38.9b21.8x22.4x2.8x
Fri, 27 Jun 2025US$841.5bUS$316.4bUS$38.5b20.4x21.8x2.7x
Sun, 25 May 2025US$846.5bUS$316.4bUS$38.5b20.8x22x2.7x
Tue, 22 Apr 2025US$812.3bUS$309.3bUS$38.1b19.9x21.3x2.6x
Thu, 20 Mar 2025US$815.7bUS$309.3bUS$37.6b20.8x21.7x2.6x
Sat, 15 Feb 2025US$826.1bUS$309.5bUS$37.4b20.3x22.1x2.7x
Mon, 13 Jan 2025US$785.0bUS$285.5bUS$33.0b19.6x23.8x2.7x
Wed, 11 Dec 2024US$825.8bUS$319.1bUS$36.9b21x22.4x2.6x
Fri, 08 Nov 2024US$825.6bUS$319.4bUS$38.0b20.2x21.8x2.6x
Sun, 06 Oct 2024US$862.8bUS$316.7bUS$36.6b19.7x23.6x2.7x
Tue, 03 Sep 2024US$814.4bUS$316.7bUS$36.6b19.5x22.3x2.6x
Thu, 01 Aug 2024US$779.5bUS$314.3bUS$37.3b19.6x20.9x2.5x
Sat, 29 Jun 2024US$736.0bUS$313.6bUS$38.5b17.1x19.1x2.3x
Mon, 27 May 2024US$760.3bUS$314.0bUS$38.5b17.2x19.7x2.4x
Wed, 24 Apr 2024US$708.5bUS$316.8bUS$34.9b18.2x20.3x2.2x
Fri, 22 Mar 2024US$680.6bUS$316.8bUS$34.9b17.5x19.5x2.1x
Sun, 18 Feb 2024US$646.3bUS$320.9bUS$31.8b17.6x20.3x2x
Tue, 16 Jan 2024US$669.4bUS$322.4bUS$31.8b18.8x21.1x2.1x
Thu, 14 Dec 2023US$661.6bUS$322.4bUS$31.8b19.6x20.8x2.1x
Sat, 11 Nov 2023US$629.4bUS$322.4bUS$31.8b18.2x19.8x2x
Mon, 09 Oct 2023US$599.0bUS$325.0bUS$30.5b18x19.6x1.8x
Wed, 06 Sep 2023US$643.5bUS$325.0bUS$30.5b18.1x21.1x2x
Fri, 04 Aug 2023US$680.2bUS$325.9bUS$30.9b19.3x22x2.1x
Sun, 02 Jul 2023US$690.4bUS$325.6bUS$28.9b18.6x23.9x2.1x
Tue, 30 May 2023US$672.0bUS$323.5bUS$28.9b18.8x23.2x2.1x
Thu, 27 Apr 2023US$709.1bUS$314.6bUS$29.5b20.1x24.1x2.3x
Sat, 25 Mar 2023US$684.3bUS$314.2bUS$29.7b19.2x23.1x2.2x
Mon, 20 Feb 2023US$704.3bUS$311.2bUS$30.3b19.7x23.2x2.3x
Wed, 18 Jan 2023US$737.3bUS$320.5bUS$31.5b19.8x23.4x2.3x
Price to Earnings Ratio

23.4x


Total Market Cap: US$737.3bTotal Earnings: US$31.5bTotal Revenue: US$320.5bTotal 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 2.4x is lower than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Electric 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 industry?

US Market1.88%
Utilities-1.33%
Electric Utilities-1.28%
Electric Utilities-1.28%
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$342.52-6.5%
US$9.7b		12.2%PE45.3x
OKLO OkloUS$105.3135.4%
+US$4.3b		317.2%PB13.6x
AEP American Electric Power CompanyUS$116.910.9%
+US$587.5m		25.0%PE17.1x
HE Hawaiian Electric IndustriesUS$14.7716.9%
+US$369.4m		80.6%PE22.6x
OTTR Otter TailUS$85.615.1%
+US$174.3m		17.5%PE12.9x

Latest News

NRG
US$149.27
NRG Energy
7D
-10.2%
1Y
50.2%

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.
CEG
US$342.52
Constellation Energy
7D
-6.5%
1Y
12.2%
HE
US$14.77
Hawaiian Electric Industries
7D
16.9%
1Y
80.6%
DUK
US$116.80
Duke Energy
7D
-0.5%
1Y
10.3%
NEE
US$79.89
NextEra Energy
7D
-1.3%
1Y
18.6%

NEE: Duane Arnold Nuclear Restart And AI Power Demand Will Support Upside

Analysts now see slightly lower upside for NextEra Energy, trimming the average price target by about $0.30 as they weigh recent target resets along with updated assumptions around profit margins and future P/E levels. Analyst Commentary Recent research on NextEra Energy points to a mixed but generally constructive view, with several price target increases balanced by one modest trim and some caution on how much future growth is already reflected in the share price.
PNW
US$89.07
Pinnacle West Capital
7D
1.1%
1Y
8.9%

The Returns At Pinnacle West Capital (NYSE:PNW) Aren't Growing

Jan 09
The Returns At Pinnacle West Capital (NYSE:PNW) Aren't Growing
FE
US$44.65
FirstEnergy
7D
-1.3%
1Y
15.3%

FE: Ohio Grid Investments Will Drive Long Term Returns

Analysts have slightly revised their fair value estimate for FirstEnergy to US$50.00 per share. This reflects marginal tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E, while keeping their overall price target essentially unchanged.
OTTR
US$85.61
Otter Tail
7D
5.1%
1Y
17.5%
POR
US$48.84
Portland General Electric
7D
0.8%
1Y
20.4%

POR: Future Ruling And Sector Tailwinds Will Shape Fairly Valued Shares

Analysts have nudged their blended price expectations for Portland General Electric roughly in line with a fair value estimate of about $48.67, reflecting a cluster of recent target moves into the mid $40s to low $50s range and a view that current valuation already captures much of the near term regulatory and earnings setup. Analyst Commentary Recent Street research on Portland General Electric shows a mix of optimism and caution, with price targets clustering in the mid $40s to low $50s and ratings centered around Neutral or Equal Weight.
XEL
US$74.26
Xcel Energy
7D
-0.6%
1Y
17.2%

XEL: Data Center Power Demand Will Restore Premium Multiple Over Time

Analysts have modestly revised their blended price outlook for Xcel Energy, with individual targets now ranging from about $84 to $93, reflecting updated sector views on regulated utilities, data center driven electricity demand, and rate case timing. Analyst Commentary Recent research updates on Xcel Energy reflect a split between bullish analysts who see upside tied to valuation, capital investment, and data center related demand, and more cautious voices that are focused on sector performance and pricing in existing expectations.
IDA
US$128.13
IDACORP
7D
0.7%
1Y
20.3%
EXC
US$43.30
Exelon
7D
-1.4%
1Y
16.1%

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.
PPL
US$34.59
PPL
7D
-1.5%
1Y
9.0%

PPL (NYSE:PPL) Has More To Do To Multiply In Value Going Forward

Jan 07
PPL (NYSE:PPL) Has More To Do To Multiply In Value Going Forward
OKLO
US$105.31
Oklo
7D
35.4%
1Y
317.2%
PCG
US$15.85
PG&E
7D
-2.6%
1Y
-7.7%

PCG: Massive Transmission Spend Will Drive Data Center Power Demand Upside

Analysts have nudged their average price target for PG&E up to about $21.20. This reflects a slightly more optimistic view on long term revenue growth from data center driven demand and capital investment opportunities, partially offset by lower allowed returns on equity in California.
AEP
US$116.91
American Electric Power Company
7D
0.9%
1Y
25.0%

AEP: Data Center Load And Massive Capex Plan Will Drive Future Upside

Analysts have nudged their price target on American Electric Power Company modestly higher, citing a series of recent target increases across the Street. These moves reflect expectations for stronger rate base and earnings growth supported by robust data center driven demand and a sizable, multi year capital plan.