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U.S. Electric Utilities Industry Analysis

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies31
  • 7D-1.8%
  • 3M-8.2%
  • 1Y8.4%
  • YTD-2.0%

Over the last 7 days, the Electric Utilities industry has dropped 1.8%, driven by a pullback from Constellation Energy of 6.1%. This takes the industry's 12 month performance to a gain of 8.4%. Earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 Jan 2026US$923.8bUS$324.7bUS$43.5b20.7x21.2x2.8x
Tue, 23 Dec 2025US$906.6bUS$324.7bUS$43.5b19.5x20.8x2.8x
Thu, 20 Nov 2025US$954.7bUS$326.2bUS$43.7b20.5x21.8x2.9x
Sat, 18 Oct 2025US$990.4bUS$320.7bUS$40.7b21.3x24.3x3.1x
Mon, 15 Sep 2025US$890.1bUS$320.7bUS$40.7b20x21.9x2.8x
Wed, 13 Aug 2025US$900.2bUS$320.7bUS$41.2b20.7x21.9x2.8x
Fri, 11 Jul 2025US$855.7bUS$316.4bUS$38.5b20.8x22.2x2.7x
Sun, 08 Jun 2025US$845.0bUS$316.4bUS$38.5b20.6x21.9x2.7x
Tue, 06 May 2025US$830.6bUS$313.4bUS$39.0b21.1x21.3x2.7x
Thu, 03 Apr 2025US$825.0bUS$309.3bUS$38.1b21x21.7x2.7x
Sat, 01 Mar 2025US$815.7bUS$309.9bUS$37.6b20.8x21.7x2.6x
Mon, 27 Jan 2025US$829.4bUS$308.9bUS$35.7b20.3x23.2x2.7x
Wed, 25 Dec 2024US$795.0bUS$310.4bUS$35.8b20.8x22.2x2.6x
Fri, 22 Nov 2024US$843.6bUS$319.1bUS$37.4b21.2x22.6x2.6x
Sun, 20 Oct 2024US$871.2bUS$316.7bUS$36.6b20.2x23.8x2.8x
Tue, 17 Sep 2024US$837.1bUS$316.7bUS$36.6b20.2x22.9x2.6x
Thu, 15 Aug 2024US$795.5bUS$316.7bUS$37.1b19.4x21.4x2.5x
Sat, 13 Jul 2024US$755.4bUS$313.6bUS$38.5b17.8x19.6x2.4x
Mon, 10 Jun 2024US$744.0bUS$314.0bUS$38.5b16.9x19.3x2.4x
Wed, 08 May 2024US$741.0bUS$315.6bUS$37.8b17.3x19.6x2.3x
Fri, 05 Apr 2024US$690.6bUS$316.8bUS$34.9b17.8x19.8x2.2x
Sun, 03 Mar 2024US$650.8bUS$318.9bUS$35.0b15.8x18.6x2x
Tue, 30 Jan 2024US$650.0bUS$322.5bUS$31.5b18.2x20.7x2x
Thu, 28 Dec 2023US$667.2bUS$322.4bUS$31.8b18.8x21x2.1x
Sat, 25 Nov 2023US$652.5bUS$322.4bUS$31.8b18.4x20.5x2x
Mon, 23 Oct 2023US$608.9bUS$325.0bUS$30.5b18.1x20x1.9x
Wed, 20 Sep 2023US$674.1bUS$325.0bUS$30.5b19.1x22.1x2.1x
Fri, 18 Aug 2023US$663.5bUS$325.0bUS$30.5b18.8x21.8x2x
Sun, 16 Jul 2023US$701.9bUS$325.6bUS$28.9b18.9x24.3x2.2x
Tue, 13 Jun 2023US$687.5bUS$323.5bUS$28.9b19.3x23.8x2.1x
Thu, 11 May 2023US$722.3bUS$323.5bUS$28.9b19.9x25x2.2x
Sat, 08 Apr 2023US$727.0bUS$314.2bUS$29.7b20.2x24.5x2.3x
Mon, 06 Mar 2023US$682.3bUS$314.2bUS$29.6b19.1x23x2.2x
Wed, 01 Feb 2023US$706.8bUS$322.3bUS$31.9b19.4x22.2x2.2x
Price to Earnings Ratio

22.2x


Total Market Cap: US$706.8bTotal Earnings: US$31.9bTotal Revenue: US$322.3bTotal 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 2.8x.
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 Market-0.36%
Utilities-1.89%
Electric Utilities-1.83%
Electric Utilities-1.83%
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
NEE NextEra EnergyUS$84.811.4%
+US$2.5b		16.4%PE27.2x
HE Hawaiian Electric IndustriesUS$14.742.0%
+US$50.1m		64.9%PE22.6x
TXNM TXNM EnergyUS$59.240.1%
+US$8.7m		25.6%PE36.5x

Latest News

NEE
US$84.81
NextEra Energy
7D
1.4%
1Y
16.4%

NEE: Nuclear Restart Optimism Will Likely Outrun Real Earnings Upside

Analysts lifted their fair value estimate for NextEra Energy from about $60 to roughly $71, citing a combination of updated price targets, expectations for a higher future P/E multiple, and modestly stronger profit margins supported by recent research commentary on nuclear restart potential and broader utility sector revisions. Analyst Commentary Recent research on NextEra Energy has been mixed, with several firms updating their price targets and assumptions as they revisit the broader utilities sector and the company specific nuclear restart potential.
AEP
US$116.63
American Electric Power Company
7D
-2.8%
1Y
18.8%
CEG
US$289.06
Constellation Energy
7D
-6.1%
1Y
-16.8%
TXNM
US$59.24
TXNM Energy
7D
0.1%
1Y
25.6%

TXNM: Hold Downgrade And Dividend Commitments Will Shape Fairly Valued Outlook

Narrative Update on TXNM Energy The consensus analyst price target for TXNM Energy has shifted to $61.25 from $58, with analysts citing the recent downgrade to Hold as a key factor behind the updated view. Analyst Commentary Recent research reflects a more balanced stance on TXNM Energy, with the new Hold rating paired with a higher price target of $61.25 compared with $58 previously.
DUK
US$117.43
Duke Energy
7D
-1.5%
1Y
6.9%

DUK: Regulatory Progress And Battery Projects Will Support Future Upside

Narrative Update The updated analyst price target for Duke Energy edges slightly lower to about $135 per share, reflecting analysts' mixed revisions across recent research. Some emphasize improved regulatory footing and balance sheet progress, while others temper expectations using modestly lower P/E assumptions and profitability estimates.
HE
US$14.74
Hawaiian Electric Industries
7D
2.0%
1Y
64.9%
ETR
US$93.19
Entergy
7D
-3.3%
1Y
12.9%

ETR: Gulf Coast Load Expansion And Supportive Regulation Will Shape Balanced Outlook

Narrative Update The analyst price target for Entergy edges higher to about $105 per share as analysts factor in slightly stronger revenue growth, modestly higher profit margins, and a lower discount rate. This view is partly supported by recent research citing industrial and data center demand along with constructive state regulatory environments.
SO
US$87.54
Southern
7D
-1.5%
1Y
4.9%
PCG
US$14.95
PG&E
7D
-4.2%
1Y
-9.6%

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.
EXC
US$44.06
Exelon
7D
-1.5%
1Y
11.9%

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$87.63
Oklo
7D
-7.7%
1Y
109.5%