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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%

Over the last 7 days, the Electric Utilities industry has remained flat. The past year has been better, since the industry has gained 22% 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
Thu, 19 Mar 2026US$1.0tUS$332.6bUS$44.3b21.7x23.2x3.1x
Sat, 14 Feb 2026US$979.0bUS$328.0bUS$43.8b22.4x22.3x3x
Mon, 12 Jan 2026US$931.0bUS$324.7bUS$43.5b20.1x21.4x2.9x
Wed, 10 Dec 2025US$918.3bUS$326.2bUS$43.7b19.9x21x2.8x
Fri, 07 Nov 2025US$959.2bUS$325.7bUS$43.7b20.5x22x2.9x
Sun, 05 Oct 2025US$947.4bUS$320.7bUS$40.7b21.1x23.3x3x
Tue, 02 Sep 2025US$880.4bUS$320.7bUS$40.7b20.2x21.6x2.7x
Thu, 31 Jul 2025US$881.4bUS$317.1bUS$38.9b22x22.6x2.8x
Sat, 28 Jun 2025US$849.7bUS$316.4bUS$38.5b20.4x22x2.7x
Mon, 26 May 2025US$846.5bUS$316.4bUS$38.5b20.8x22x2.7x
Wed, 23 Apr 2025US$792.5bUS$309.3bUS$38.1b20.5x20.8x2.6x
Fri, 21 Mar 2025US$817.8bUS$309.3bUS$37.6b20.7x21.8x2.6x
Sun, 16 Feb 2025US$820.8bUS$309.5bUS$37.4b20.3x22x2.7x
Tue, 14 Jan 2025US$785.0bUS$285.5bUS$33.0b19.6x23.8x2.7x
Thu, 12 Dec 2024US$819.3bUS$319.1bUS$36.9b20.8x22.2x2.6x
Sat, 09 Nov 2024US$826.0bUS$319.8bUS$38.1b20.6x21.7x2.6x
Mon, 07 Oct 2024US$862.8bUS$316.7bUS$36.6b19.7x23.6x2.7x
Wed, 04 Sep 2024US$814.4bUS$316.7bUS$36.6b19.7x22.3x2.6x
Fri, 02 Aug 2024US$779.5bUS$314.2bUS$37.6b20x20.7x2.5x
Sun, 30 Jun 2024US$726.6bUS$313.6bUS$38.5b17.1x18.9x2.3x
Tue, 28 May 2024US$760.3bUS$314.0bUS$38.5b17.2x19.7x2.4x
Thu, 25 Apr 2024US$708.5bUS$315.8bUS$35.2b18.3x20.1x2.2x
Sat, 23 Mar 2024US$679.4bUS$316.8bUS$34.9b17.4x19.4x2.1x
Mon, 19 Feb 2024US$646.3bUS$320.9bUS$31.8b17.6x20.3x2x
Wed, 17 Jan 2024US$669.4bUS$322.4bUS$31.8b18.7x21.1x2.1x
Fri, 15 Dec 2023US$688.8bUS$322.4bUS$31.8b19.4x21.7x2.1x
Sun, 12 Nov 2023US$631.7bUS$322.4bUS$31.8b18.2x19.9x2x
Tue, 10 Oct 2023US$603.7bUS$325.0bUS$30.5b18.2x19.8x1.9x
Thu, 07 Sep 2023US$645.5bUS$325.0bUS$30.5b18.1x21.2x2x
Sat, 05 Aug 2023US$673.0bUS$325.9bUS$30.9b19x21.8x2.1x
Mon, 03 Jul 2023US$690.4bUS$325.6bUS$28.9b18.6x23.9x2.1x
Wed, 31 May 2023US$669.0bUS$323.5bUS$28.9b18.8x23.1x2.1x
Fri, 28 Apr 2023US$718.1bUS$318.4bUS$32.0b20.4x22.4x2.3x
Sun, 26 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
CEG Constellation EnergyUS$317.225.5%
+US$6.0b		45.5%PE49.5x
NRG NRG EnergyUS$159.117.1%
+US$2.2b		61.9%PE42.8x
DUK Duke EnergyUS$130.750.6%
+US$560.2m		9.6%PE20.7x
EIX Edison InternationalUS$72.661.6%
+US$443.2m		24.2%PE6.3x
EXC ExelonUS$49.250.8%
+US$419.4m		10.8%PE18.2x

Latest News

EIX
US$72.66
Edison International
7D
1.6%
1Y
24.2%
MGEE
US$72.45
MGE Energy
7D
-2.3%
1Y
-21.7%
IDA
US$139.83
IDACORP
7D
-0.5%
1Y
19.8%

IDA: Rate Base Plans And 2026 Guidance Will Shape Mixed Market Views

Analysts have inched their blended price target for IDACORP higher by about $0.20 to $146.44, citing a combination of updated sector views, recent Q4 and 2025 commentary, and what they describe as attractive valuation and rate base growth potential. Analyst Commentary Recent Street research around IDACORP reflects a mix of optimism on growth and valuation, alongside some caution from more conservative voices.
AEP
US$130.97
American Electric Power Company
7D
-0.2%
1Y
23.7%
PPL
US$38.05
PPL
7D
1.1%
1Y
8.7%

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$14.51
Hawaiian Electric Industries
7D
-1.4%
1Y
32.3%

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$90.96
NextEra Energy
7D
-0.8%
1Y
29.0%
TXNM
US$58.25
TXNM Energy
7D
-0.5%
1Y
7.0%
LNT
US$71.76
Alliant Energy
7D
1.3%
1Y
13.0%

LNT: Dividend Consistency And 2026 EPS Guidance Will Support Fair Value

Analysts have nudged their price target for Alliant Energy to $74.50 from $74.09, reflecting updated views on slightly adjusted revenue growth, profit margin expectations, and a modestly higher future P/E assumption. What's in the News Alliant Energy affirmed its consolidated ongoing EPS guidance for 2026 in a range of $3.36 to $3.46, giving investors a clearer view of management’s earnings outlook for that year (Key Developments).
EXC
US$49.25
Exelon
7D
0.8%
1Y
10.8%

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$130.75
Duke Energy
7D
0.6%
1Y
9.6%
XEL
US$80.02
Xcel Energy
7D
-1.2%
1Y
13.9%

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$159.11
NRG Energy
7D
7.1%
1Y
61.9%

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$96.54
Southern
7D
0.3%
1Y
7.7%

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$72.74
Eversource Energy
7D
-1.6%
1Y
18.3%

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).
CEG
US$317.22
Constellation Energy
7D
5.5%
1Y
45.5%

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.