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U.S. Electric Utilities Industry Analysis

UpdatedJun 22, 2026
DataAggregated Company Financials
Companies30
  • 7D0.5%
  • 3M-1.7%
  • 1Y11.6%
  • YTD1.4%

The Electric Utilities is pretty flat in the last 7 days, but Constellation Energy has stood out, gaining 8.0%. The past year has been better, since the industry has gained 12% in that time. 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
Mon, 22 Jun 2026US$968.1bUS$344.7bUS$46.3b21.4x20.9x2.8x
Wed, 20 May 2026US$959.4bUS$355.4bUS$47.4b21.6x20.3x2.7x
Fri, 17 Apr 2026US$1.0tUS$332.6bUS$44.2b22.1x22.9x3x
Sun, 15 Mar 2026US$1.0tUS$332.6bUS$44.3b21.7x23.1x3.1x
Tue, 10 Feb 2026US$945.4bUS$326.2bUS$44.0b21x21.5x2.9x
Thu, 08 Jan 2026US$921.8bUS$324.7bUS$43.5b20x21.2x2.8x
Sat, 06 Dec 2025US$939.5bUS$326.2bUS$43.7b19.9x21.5x2.9x
Mon, 03 Nov 2025US$965.4bUS$324.3bUS$42.0b21.5x23x3x
Wed, 01 Oct 2025US$920.7bUS$320.7bUS$40.7b20.9x22.6x2.9x
Fri, 29 Aug 2025US$892.4bUS$320.7bUS$40.7b20.2x21.9x2.8x
Sun, 27 Jul 2025US$882.2bUS$317.1bUS$38.9b21.9x22.7x2.8x
Tue, 24 Jun 2025US$846.4bUS$316.4bUS$38.5b20.5x22x2.7x
Thu, 22 May 2025US$867.1bUS$316.4bUS$38.5b20.9x22.5x2.7x
Sat, 19 Apr 2025US$812.2bUS$309.3bUS$38.1b20.5x21.3x2.6x
Mon, 17 Mar 2025US$822.1bUS$309.3bUS$37.6b20.6x21.9x2.7x
Wed, 12 Feb 2025US$824.5bUS$308.6bUS$35.8b20.8x23x2.7x
Fri, 10 Jan 2025US$787.8bUS$310.4bUS$35.8b20.4x22x2.5x
Sun, 08 Dec 2024US$835.5bUS$319.1bUS$36.9b21x22.7x2.6x
Tue, 05 Nov 2024US$835.0bUS$318.5bUS$38.0b20x22x2.6x
Thu, 03 Oct 2024US$861.4bUS$316.7bUS$36.6b20x23.5x2.7x
Sat, 31 Aug 2024US$809.1bUS$316.7bUS$36.6b19.5x22.1x2.6x
Mon, 29 Jul 2024US$762.5bUS$313.8bUS$37.7b18.4x20.2x2.4x
Wed, 26 Jun 2024US$744.7bUS$313.6bUS$38.5b17.1x19.3x2.4x
Fri, 24 May 2024US$765.8bUS$314.0bUS$38.5b17.2x19.9x2.4x
Sun, 21 Apr 2024US$698.5bUS$316.8bUS$34.9b18.1x20x2.2x
Tue, 19 Mar 2024US$670.8bUS$316.8bUS$34.9b17.6x19.2x2.1x
Thu, 15 Feb 2024US$635.3bUS$322.2bUS$30.9b17.6x20.6x2x
Sat, 13 Jan 2024US$669.4bUS$322.4bUS$31.8b18.8x21.1x2.1x
Mon, 11 Dec 2023US$660.5bUS$322.4bUS$31.8b18.8x20.8x2x
Wed, 08 Nov 2023US$648.3bUS$322.8bUS$31.8b18.4x20.4x2x
Fri, 06 Oct 2023US$590.9bUS$325.0bUS$30.5b17.6x19.4x1.8x
Sun, 03 Sep 2023US$653.4bUS$325.0bUS$30.5b18.5x21.4x2x
Tue, 01 Aug 2023US$709.2bUS$327.1bUS$30.4b19.4x23.4x2.2x
Thu, 29 Jun 2023US$681.5bUS$325.6bUS$28.9b18.5x23.5x2.1x
Price to Earnings Ratio

23.5x


Total Market Cap: US$681.5bTotal Earnings: US$28.9bTotal Revenue: US$325.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Electric Utilities Industry Price to Earnings3Y Average 21.6x202420252026
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 21.6x.
  • The 3-year average PS ratio of 2.5x 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 17% 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 Market1.40%
Utilities0.57%
Electric Utilities0.47%
Electric Utilities0.47%
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$274.068.0%
+US$7.2b		-10.1%PE25.8x
NRG NRG EnergyUS$135.067.6%
+US$2.0b		-11.1%PE165.7x
NEE NextEra EnergyUS$86.750.9%
+US$1.6b		21.3%PE22.1x
OKLO OkloUS$61.176.4%
+US$640.3m		5.6%PB4x
ES Eversource EnergyUS$69.591.3%
+US$338.5m		11.3%PE15x

Latest News

PCG
US$16.48
PG&E
7D
-2.8%
1Y
18.8%
Seeking Alpha • 19h

PG&E: Why This One Is Best Avoided

Summary Pacific Gas & Electric (PCG) faces fundamental, structural risks from strict liability wildfire exposure and California’s challenging regulatory environment. Despite a forward-facing asset portfolio and growth initiatives, PCG’s high debt, low yield, and ongoing CapEx needs undermine its investment safety. I assign PCG a 'Hold' rating, with a price target of $11.5/share, reflecting the need for a significant valuation discount versus peers. Analyst targets above $18/share ignore persistent legal, regulatory, and capital structure headwinds unlikely to be resolved in the near term. Read the full article on Seeking Alpha
NRG
US$135.06
NRG Energy
7D
7.6%
1Y
-11.1%
Analysis Article • Jun 20

NRG Energy (NRG) Stock Could Be 33.2% Undervalued on Its Electricity Demand Narrative

NRG Energy (NRG) has drawn fresh attention after recent share price moves, with the stock up 2.2% on the day and 7.6% over the past week, despite weaker returns over the past month and the past three months. See our latest analysis for NRG Energy. Stepping back from the latest bounce, NRG Energy’s share price has seen momentum cool over recent months, with the stock down over the year to date, even though the 3 year and 5 year total shareholder returns are very large. If this kind of...
NEE
US$86.75
NextEra Energy
7D
0.9%
1Y
21.3%
Seeking Alpha • Jun 18

NextEra Energy Has Substantial Upside Potential After Dominion Deal

Summary NextEra Energy, Inc. is rated a Buy after a recent 15.6% correction, presenting an attractive entry point with significant upside potential. NEE’s $67 billion all-stock merger with Dominion Energy is expected to be accretive, creating a utility serving 10M customer accounts and 110 GW generation capacity. AI-driven energy demand and potential M&A from cash-rich tech companies position NEE for long-term growth as utilities benefit from rising power consumption. NEE’s dividend consistency is top-tier, and the Dominion acquisition could enhance both quant and dividend ratings, despite current valuation headwinds. Read the full article on Seeking Alpha
ES
US$69.59
Eversource Energy
7D
1.3%
1Y
11.3%
Narrative Update • Jun 18

ES: Earnings Strength And Regulatory Risks Will Likely Keep Fair Value Steady

The analyst price target for Eversource Energy has been revised slightly. Updated assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E have prompted a modest adjustment that analysts reflect in a new target close to $72 per share.
SO
US$93.09
Southern
7D
-1.0%
1Y
4.2%
Narrative Update • Jun 17

SO: Future Dividend Strength Will Reflect Data Center Power And Nuclear Progress

Analysts have maintained their price target on Southern at $101.34. This reflects unchanged views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions following the latest review.
AEP
US$127.69
American Electric Power Company
7D
-1.2%
1Y
25.5%
OKLO
US$61.17
Oklo
7D
6.4%
1Y
5.6%
EIX
US$71.89
Edison International
7D
-1.5%
1Y
44.8%
Analysis Article • Jun 17

Edison International (EIX) Stock Could Be 44.40% Below Fair Value Despite Grid Growth Narrative

Edison International (EIX) has drawn renewed attention after recent share moves, with the stock last closing at $72.06. Investors are weighing this price against the company’s fundamentals and historical total return profile. See our latest analysis for Edison International. Over the past year, Edison International’s 1 year total shareholder return of 55.16% and year to date share price return of 18.27% point to building momentum, even though the 90 day share price return declined 0.83%. If...
DUK
US$123.86
Duke Energy
7D
-0.9%
1Y
7.3%
XEL
US$77.41
Xcel Energy
7D
-2.3%
1Y
16.2%
Narrative Update • Jun 16

XEL: Data Center Agreements And Grid Expansion Will Support Future Returns

Analysts have trimmed Xcel Energy's price targets by a few dollars to a range centered in the low $90s. This reflects updated sector models and recent relative underperformance of utilities versus the broader S&P, while still indicating a broadly supportive view on the stock's role in power and data center related growth.
CEG
US$274.06
Constellation Energy
7D
8.0%
1Y
-10.1%
EXC
US$45.81
Exelon
7D
-0.9%
1Y
7.5%
PPL
US$35.38
PPL
7D
-1.3%
1Y
4.8%
Narrative Update • Jun 08

PPL: Pennsylvania Settlement And 2026 Earnings Path Will Drive Future Upside

PPL's analyst price target edges slightly lower, with the average fair value estimate moving from about $41.53 to $41.20 as analysts fine tune their models following recent regulatory outcomes in Pennsylvania and modest adjustments to growth and margin assumptions. Analyst Commentary Research houses are generally fine tuning their PPL views around recent Pennsylvania regulatory decisions and sector moves, rather than making wholesale changes to their fundamental stance.