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U.S. Electric Utilities Industry Analysis

UpdatedMay 01, 2026
DataAggregated Company Financials
Companies30
  • 7D1.7%
  • 3M8.9%
  • 1Y21.8%
  • YTD8.5%

In the last week, the Electric Utilities industry is up 1.7%, with Constellation Energy up 6.9%. This means that the industry has gained 19% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 01 May 2026US$1.0tUS$335.1bUS$45.0b22.1x22.4x3x
Sun, 29 Mar 2026US$1.0tUS$332.6bUS$44.2b21.3x22.7x3x
Tue, 24 Feb 2026US$1.0tUS$331.3bUS$45.3b22.5x22.3x3x
Thu, 22 Jan 2026US$932.8bUS$324.7bUS$43.8b20.9x21.3x2.9x
Sat, 20 Dec 2025US$918.1bUS$324.7bUS$43.5b19.4x21.1x2.8x
Mon, 17 Nov 2025US$950.8bUS$326.2bUS$43.7b20.7x21.8x2.9x
Wed, 15 Oct 2025US$979.3bUS$320.7bUS$40.7b21.3x24.1x3.1x
Fri, 12 Sep 2025US$879.9bUS$320.7bUS$40.7b20.1x21.6x2.7x
Sun, 10 Aug 2025US$899.2bUS$320.6bUS$40.7b20.7x22.1x2.8x
Tue, 08 Jul 2025US$857.4bUS$316.4bUS$38.5b20.6x22.2x2.7x
Thu, 05 Jun 2025US$857.3bUS$316.4bUS$38.5b20.6x22.2x2.7x
Sat, 03 May 2025US$826.1bUS$313.4bUS$39.0b21.1x21.2x2.6x
Mon, 31 Mar 2025US$815.3bUS$309.3bUS$38.1b20.7x21.4x2.6x
Wed, 26 Feb 2025US$828.9bUS$309.3bUS$37.3b21x22.2x2.7x
Fri, 24 Jan 2025US$811.5bUS$310.4bUS$35.8b20.2x22.7x2.6x
Sun, 22 Dec 2024US$800.5bUS$319.1bUS$36.9b20.5x21.7x2.5x
Tue, 19 Nov 2024US$834.1bUS$319.1bUS$37.4b20.9x22.3x2.6x
Thu, 17 Oct 2024US$863.9bUS$316.7bUS$36.6b20.2x23.6x2.7x
Sat, 14 Sep 2024US$827.3bUS$316.7bUS$36.6b20.1x22.6x2.6x
Mon, 12 Aug 2024US$790.6bUS$316.7bUS$37.1b19.3x21.3x2.5x
Wed, 10 Jul 2024US$732.0bUS$313.6bUS$38.5b17.2x19x2.3x
Fri, 07 Jun 2024US$758.5bUS$314.0bUS$38.5b17.1x19.7x2.4x
Sun, 05 May 2024US$729.6bUS$315.5bUS$35.8b17.1x20.4x2.3x
Tue, 02 Apr 2024US$697.2bUS$316.8bUS$34.9b17.8x20x2.2x
Thu, 29 Feb 2024US$654.0bUS$321.6bUS$33.5b16.8x19.6x2x
Sat, 27 Jan 2024US$647.7bUS$322.5bUS$31.5b18.1x20.6x2x
Mon, 25 Dec 2023US$662.5bUS$322.4bUS$31.8b18.8x20.9x2.1x
Wed, 22 Nov 2023US$649.3bUS$322.4bUS$31.8b18.2x20.4x2x
Fri, 20 Oct 2023US$615.0bUS$325.0bUS$30.5b18.3x20.2x1.9x
Sun, 17 Sep 2023US$678.3bUS$325.0bUS$30.5b19.3x22.2x2.1x
Tue, 15 Aug 2023US$672.9bUS$325.0bUS$30.5b19x22.1x2.1x
Thu, 13 Jul 2023US$702.5bUS$325.6bUS$28.9b19.2x24.3x2.2x
Sat, 10 Jun 2023US$688.2bUS$323.5bUS$28.9b19.4x23.8x2.1x
Mon, 08 May 2023US$718.7bUS$323.1bUS$28.8b20x25x2.2x
Price to Earnings Ratio

25x


Total Market Cap: US$718.7bTotal Earnings: US$28.8bTotal Revenue: US$323.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Electric Utilities Industry Price to Earnings3Y Average 21.7x202420252026
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 21.7x.
  • 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 16% 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 Market0.59%
Utilities1.20%
Electric Utilities1.68%
Electric Utilities1.68%
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$313.006.9%
+US$7.3b		30.1%PE48.9x
NEE NextEra EnergyUS$97.881.7%
+US$3.4b		48.2%PE24.9x
SO SouthernUS$96.703.0%
+US$3.1b		5.7%PE25.1x
XEL Xcel EnergyUS$82.954.4%
+US$2.2b		17.8%PE25.7x
ETR EntergyUS$117.913.5%
+US$1.8b		41.4%PE30.3x

Latest News

OKLO
US$72.50
Oklo
7D
-5.2%
1Y
175.6%
ETR
US$117.91
Entergy
7D
3.5%
1Y
41.4%
FE
US$47.52
FirstEnergy
7D
-4.2%
1Y
11.2%
AEP
US$137.11
American Electric Power Company
7D
1.5%
1Y
27.5%

American Electric Power: Attractive Transmission Exposure But Elevated Valuations

Apr 30
EIX
US$69.49
Edison International
7D
-1.2%
1Y
27.4%
SO
US$96.70
Southern
7D
3.0%
1Y
5.7%

Southern Company: Positive Long-Term Clean Energy Pivot

Apr 29
CEG
US$313.00
Constellation Energy
7D
6.9%
1Y
30.1%

CEG: Data Center Power Contracts Will Support Long Dated Nuclear Cash Flows

Analysts have collectively trimmed their price targets on Constellation Energy, with the fair value estimate moving from about $399.93 to $370.58 as they factor in updated earnings outlooks, revised contracting expectations and changes to long term P/E assumptions. Analyst Commentary Recent research shows a clear reset in expectations around Constellation Energy, with most updates centered on revised earnings trajectories, contracting assumptions and recalibrated long term P/E multiples.
PCG
US$16.62
PG&E
7D
-1.2%
1Y
-0.3%

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

Narrative Update The analyst price target for PG&E is nudged higher to $22.84 from $22.63, as analysts factor in updated assumptions around revenue growth, profitability, and future P/E multiples, along with a series of recent target raises and a new bullish initiation. Analyst Commentary Recent research on PG&E shows a mix of optimism around risk reduction and earnings potential, alongside ongoing caution about regulatory outcomes and valuation.
EXC
US$45.99
Exelon
7D
-1.6%
1Y
-1.3%
IDA
US$147.74
IDACORP
7D
-0.7%
1Y
27.0%

IDA: Rate Base Expansion And Data Center Plans Will Shape 2026 Earnings Outlook

Analyst price targets for IDACORP have shifted modestly higher to about $152 from roughly $151, as analysts weigh slightly lower revenue growth assumptions against firmer profit margin expectations and a marginally lower future P/E in light of recent research updates from several major firms. Analyst Commentary Recent Street research on IDACORP shows a mix of optimism and caution, with multiple firms adjusting price targets in both directions and updating views around growth, valuation and execution after recent earnings and sector reviews.
NEE
US$97.88
NextEra Energy
7D
1.7%
1Y
48.2%

NEE Valuation — The Convergence of Grid Stability and AI Growth

​As of late April 2026, NextEra Energy (NEE) trades near its 52-week high of $96, buoyed by a robust Q1 earnings beat ($1.09 vs. $0.92 est.) and a record-breaking 33 GW renewables backlog.
PPL
US$37.44
PPL
7D
-2.9%
1Y
3.8%

PPL: Future Returns Will Reflect Pennsylvania Case Outcomes And 2026 EPS Framework

Analysts have modestly increased the blended price target for PPL to approximately $42.13, citing a mix of target raises and reductions across recent research that reflect updated views on growth, margins, and P/E assumptions. Analyst Commentary Recent research points to a mixed but generally constructive tone around PPL, with several firms lifting price targets and a few trimming them, as estimates and assumptions are refreshed following recent earnings and regulatory updates.
HE
US$15.07
Hawaiian Electric Industries
7D
-2.0%
1Y
47.3%

HE: Derivative Settlement Liabilities Will Eventually Pressure Earnings Multiple

Analysts have nudged their price target on Hawaiian Electric Industries up from $13.25 to $13.50. They state this reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
XEL
US$82.95
Xcel Energy
7D
4.4%
1Y
17.8%

XEL: Data Center Load Agreements And Grid Investments Will Shape Future Returns

Analysts have nudged Xcel Energy's price target higher by $2 to $91, reflecting updated assumptions around revenue growth, profit margins and future P/E. Recent Street research highlights refreshed views on utilities, evolving data center demand and shifting affordability and political considerations.
DUK
US$129.55
Duke Energy
7D
1.2%
1Y
6.8%

DUK: Data Center Load And New Gas Project Will Shape Balanced Outlook

The analyst price target for Duke Energy has shifted higher, rising about $1.50 to $139.82 as analysts factor in updated assumptions for revenue growth, profit margins and future P/E following a series of recent target revisions across the Street. Analyst Commentary Recent research updates on Duke Energy show a mix of higher price targets and at least one rating downgrade.
ES
US$70.70
Eversource Energy
7D
2.8%
1Y
19.7%

ES: 2026 Earnings Guidance And Dividend Will Support A Higher Multiple

Analysts have slightly trimmed their price target on Eversource Energy to reflect updated views on fair value of about $86.11 versus $85.95, modestly lower forecast revenue growth and profit margins, and a revised future P/E assumption of roughly 19.23 versus 19.56. What's in the News Eversource Energy issued earnings guidance for full year 2026, targeting earnings in a range of $4.80 to $4.95 per share, providing a clearer view of management’s expectations for that period (Key Developments).