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U.S. Electric Utilities Industry Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies31
  • 7D0.8%
  • 3M10.0%
  • 1Y22.2%
  • YTD7.8%

In the last week, Electric Utilities has been flat. 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
Wed, 18 Mar 2026US$1.0tUS$332.6bUS$44.3b21.7x23.2x3.1x
Fri, 13 Feb 2026US$964.7bUS$327.2bUS$44.0b21.9x21.9x2.9x
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
Price to Earnings Ratio

23.1x


Total Market Cap: US$684.3bTotal 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 Market-0.97%
Utilities0.96%
Electric Utilities0.76%
Electric Utilities0.76%
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
DUK Duke EnergyUS$132.952.5%
+US$2.5b		10.1%PE21.1x
SO SouthernUS$98.272.1%
+US$2.2b		8.9%PE25.3x
NEE NextEra EnergyUS$92.531.1%
+US$2.1b		30.9%PE28.2x
EXC ExelonUS$50.042.1%
+US$1.1b		12.7%PE18.5x
EIX Edison InternationalUS$72.922.6%
+US$716.4m		24.2%PE6.3x

Latest News

OKLO
US$60.53
Oklo
7D
-1.4%
1Y
132.6%
EIX
US$72.92
Edison International
7D
2.6%
1Y
24.2%
MGEE
US$74.41
MGE Energy
7D
-3.1%
1Y
-19.7%
AEP
US$133.62
American Electric Power Company
7D
1.0%
1Y
26.1%
PPL
US$38.43
PPL
7D
1.6%
1Y
10.4%

PPL: Future Returns Will Balance Rate Cases With 2026 Earnings Visibility

Narrative Update The analyst price target for PPL has moved modestly higher to approximately $40.67. This reflects analysts' updated views after a series of price target increases into the $38 to $44 range, supported by expectations around constructive regulatory outcomes, visible earnings growth in 2026, and what they describe as an attractive valuation profile.
HE
US$14.49
Hawaiian Electric Industries
7D
-1.9%
1Y
31.6%

HE: Index Inclusion Will Mask Future Risk From Lower Earnings Multiple

Analysts have raised their price target on Hawaiian Electric Industries by $2.00 to $12.50, citing updated assumptions around discount rates, revenue growth, profit margins, and a lower future P/E multiple as key factors in the revised view. What's in the News Hawaiian Electric Industries, Inc.
NEE
US$92.53
NextEra Energy
7D
1.1%
1Y
30.9%
TXNM
US$58.46
TXNM Energy
7D
-0.6%
1Y
7.4%
EXC
US$50.04
Exelon
7D
2.1%
1Y
12.7%

EXC: Regulatory Visibility And Large Load Demand Will Shape Grid Investment Outlook

Our analyst fair value estimate for Exelon has increased by $0.50 to $50.44 as analysts update their price targets following Q4 earnings, updated EPS guidance, and revised capital spending plans across the utility group. Analyst Commentary Street research on Exelon has been active around the Q4 earnings season, with several firms updating their price targets and views on the company.
DUK
US$132.95
Duke Energy
7D
2.5%
1Y
10.1%
XEL
US$81.41
Xcel Energy
7D
-0.6%
1Y
15.8%

XEL: Data Center Agreements And Grid Projects Will Shape Future Returns

The analyst price target for Xcel Energy has been raised by $7 to $91, as analysts cite updated sector views for regulated utilities, recent target revisions from several firms, and evolving expectations related to data center demand and political considerations. Analyst Commentary Recent research on Xcel Energy highlights a mix of optimism and caution as analysts refresh their views on regulated utilities and adjust price targets around sector updates and data center related demand expectations.
NRG
US$154.75
NRG Energy
7D
-0.3%
1Y
63.4%

NRG: LS Power Deal Will Likely Overstate Long Term Earnings Upside

Narrative Update: NRG Energy The updated analyst price target for NRG Energy has shifted from about $145 to about $113 as analysts factor in the LS Power acquisition, which they say doubles generation capacity, reshapes the retail and wholesale mix, and adds potential benefits to key financial metrics. Analyst Commentary Recent Street research around NRG Energy focuses on the LS Power asset acquisition, with several firms updating coverage and targets as they incorporate this deal into their models.
SO
US$98.27
Southern
7D
2.1%
1Y
8.9%

SO: Fair Value View Will Reflect Modest Revenue Gains And Higher Future P/E

Analysts have raised their price target on Southern to $100.24 from $98.13, reflecting updated assumptions regarding fair value, discount rate, revenue growth, profit margin and future P/E. Valuation Changes Fair Value: updated slightly higher to $100.24 from $98.13.
ES
US$72.44
Eversource Energy
7D
-1.6%
1Y
17.0%

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

Analysts now set their price target for Eversource Energy at about $75.38, up slightly from roughly $74.92, reflecting modest adjustments to assumptions for discount rate, revenue growth, profit margin, and future P/E. What's in the News Eversource Energy issued earnings guidance for the full year 2026, with expected earnings in a range of $4.80 to $4.95 per share (company guidance).
ETR
US$106.07
Entergy
7D
1.3%
1Y
27.1%

ETR: Gulf Coast Demand And Regulation Will Shape Future Balanced Outlook

The analyst price target for Entergy in this update edges higher to about $107, with analysts pointing to refreshed Q4 earnings season estimates, reaffirmed long term EPS growth guidance, and an expanded 2026 to 2029 capital and sales growth plan as key supports for their outlook. Analyst Commentary Bullish and cautious voices are both active around Entergy, with recent research pointing to updated earnings estimates, refreshed long term guidance, and a larger capital plan as key inputs into valuation and risk assessments.
CEG
US$307.69
Constellation Energy
7D
-3.0%
1Y
45.9%

CEG: PJM Backstop And Contracting Momentum Will Drive Future Upside

Analysts have adjusted their price targets on Constellation Energy within a wide range, from $330 to $454. This reflects differing views on contracting momentum through 2026 and evolving PJM market developments.