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U.S. Electric Utilities Industry Analysis

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies31
  • 7D-1.0%
  • 3M-7.4%
  • 1Y12.0%
  • YTD0.6%

The Electric Utilities industry has been flat over the last week, but Constellation Energy has lost 8.1%. The past year has been better, since the industry has gained 8.9% in that time. As for the next few years, earnings are expected to grow by 10% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 10 Jun 2026US$1.1tUS$353.1bUS$48.1b21.5x22.6x3.1x
Fri, 08 May 2026US$1.0tUS$338.0bUS$45.4b21.6x22.6x3x
Sun, 05 Apr 2026US$1.0tUS$332.6bUS$44.2b21.9x22.9x3x
Tue, 03 Mar 2026US$1.0tUS$333.0bUS$44.3b22.7x23.6x3.1x
Thu, 29 Jan 2026US$941.7bUS$325.8bUS$43.9b20.8x21.5x2.9x
Sat, 27 Dec 2025US$918.8bUS$324.7bUS$43.5b19.6x21.1x2.8x
Mon, 24 Nov 2025US$939.0bUS$326.2bUS$43.7b20.6x21.5x2.9x
Wed, 22 Oct 2025US$985.2bUS$320.7bUS$40.7b21.4x24.2x3.1x
Fri, 19 Sep 2025US$880.9bUS$320.7bUS$40.7b20x21.6x2.7x
Sun, 17 Aug 2025US$895.3bUS$320.7bUS$40.7b20.3x22x2.8x
Tue, 15 Jul 2025US$862.2bUS$316.4bUS$38.5b21x22.4x2.7x
Thu, 12 Jun 2025US$843.0bUS$316.4bUS$38.5b20.6x21.9x2.7x
Sat, 10 May 2025US$836.2bUS$315.3bUS$38.3b20.9x21.8x2.7x
Mon, 07 Apr 2025US$780.2bUS$309.3bUS$38.1b19.9x20.5x2.5x
Wed, 05 Mar 2025US$828.8bUS$309.3bUS$37.6b20.6x22.1x2.7x
Fri, 31 Jan 2025US$800.6bUS$308.9bUS$35.7b20.4x22.4x2.6x
Sun, 29 Dec 2024US$790.7bUS$310.4bUS$35.8b20.7x22.1x2.5x
Tue, 26 Nov 2024US$851.3bUS$319.1bUS$37.4b20.8x22.8x2.7x
Thu, 24 Oct 2024US$866.8bUS$316.9bUS$36.7b20.2x23.6x2.7x
Sat, 21 Sep 2024US$829.2bUS$316.7bUS$36.6b19.9x22.7x2.6x
Mon, 19 Aug 2024US$797.7bUS$316.7bUS$36.6b19.3x21.8x2.5x
Wed, 17 Jul 2024US$744.0bUS$313.6bUS$38.5b18.1x19.3x2.4x
Fri, 14 Jun 2024US$745.1bUS$314.0bUS$38.5b16.9x19.3x2.4x
Sun, 12 May 2024US$756.8bUS$314.0bUS$38.5b17.7x19.6x2.4x
Tue, 09 Apr 2024US$695.6bUS$316.8bUS$34.9b18x19.9x2.2x
Thu, 07 Mar 2024US$653.6bUS$316.8bUS$35.0b15.9x18.7x2.1x
Sat, 03 Feb 2024US$651.8bUS$322.5bUS$31.5b18.2x20.7x2x
Mon, 01 Jan 2024US$670.2bUS$322.4bUS$31.8b19x21.1x2.1x
Wed, 29 Nov 2023US$653.8bUS$322.4bUS$31.8b18.6x20.6x2x
Fri, 27 Oct 2023US$627.5bUS$325.6bUS$30.0b18.4x20.9x1.9x
Sun, 24 Sep 2023US$667.5bUS$325.0bUS$30.5b18.9x21.9x2.1x
Tue, 22 Aug 2023US$662.4bUS$325.0bUS$30.5b18.6x21.7x2x
Thu, 20 Jul 2023US$695.1bUS$325.6bUS$28.9b18.8x24x2.1x
Sat, 17 Jun 2023US$702.6bUS$325.6bUS$28.9b19.1x24.3x2.2x
Price to Earnings Ratio

24.3x


Total Market Cap: US$702.6bTotal 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 Market-3.33%
Utilities-0.83%
Electric Utilities-1.02%
Electric Utilities-1.02%
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
SO SouthernUS$92.952.7%
+US$2.8b		4.1%PE24x
DUK Duke EnergyUS$123.822.3%
+US$2.1b		6.4%PE19.1x
ETR EntergyUS$109.661.9%
+US$943.2m		33.4%PE28.2x
PPL PPLUS$35.752.6%
+US$692.2m		6.0%PE22.1x
PNW Pinnacle West CapitalUS$102.653.9%
+US$464.1m		14.5%PE19x

Latest News

SO
US$92.95
Southern
7D
2.7%
1Y
4.1%
OKLO
US$56.48
Oklo
7D
-23.1%
1Y
7.5%
DUK
US$123.82
Duke Energy
7D
2.3%
1Y
6.4%
CEG
US$251.65
Constellation Energy
7D
-7.7%
1Y
-13.5%
LNT
US$72.37
Alliant Energy
7D
2.0%
1Y
18.9%
Narrative Update • Jun 08

LNT: Equity Offering And EPS Guidance Will Support Measured Fair Value

Analysts have increased their price target on Alliant Energy to $79.13 from $77.09, reflecting updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Alliant Energy reaffirmed consolidated ongoing EPS guidance for 2026 at $3.36 to $3.46, according to recent corporate guidance.
PPL
US$35.75
PPL
7D
2.6%
1Y
6.0%
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.
HE
US$13.45
Hawaiian Electric Industries
7D
-0.9%
1Y
27.0%
Narrative Update • Jun 07

HE: Settlement Progress And Insurance Funding Will Gradually Pressure Earnings Multiple

Analysts have maintained their $13.50 price target for Hawaiian Electric Industries, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E that they view as more closely aligned with the company’s current risk and earnings profile. What's in the News Hawaiian Electric Industries and Hawaiian Electric Company entered into a Derivative Settlement Agreement to resolve previously disclosed stockholder derivative actions in federal and state courts, with a proposed payment of US$100 million funded by the company’s insurers.
PNW
US$102.65
Pinnacle West Capital
7D
3.9%
1Y
14.5%
NRG
US$129.96
NRG Energy
7D
-2.7%
1Y
-12.6%
Narrative Update • Jun 06

NRG: LS Power Deal And Mixed Outlook Will Shape Future Earnings

NRG Energy's updated fair value estimate has moved from $124.23 to $132.39 as analysts factor in recent price target revisions, including Morgan Stanley's lift to $162 and other Street updates, while also reflecting revised expectations for revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent research shows a mix of optimistic and cautious views on NRG Energy, with several firms refreshing price targets and ratings in a short span.
TXNM
US$57.78
TXNM Energy
7D
-2.4%
1Y
2.1%
NEE
US$84.83
NextEra Energy
7D
-1.0%
1Y
16.5%
New Narrative • Jun 06

Investor Thesis: Why the NextEra Energy / Dominion Energy Merger Could Be a Major AI Power Infrastructure Event

The proposed NextEra Energy and Dominion Energy merger should not be viewed as a traditional utility consolidation alone. In my opinion, the strategic value is much larger because Dominion gives NextEra direct exposure to one of the most important electricity-demand markets in the world: Northern Virginia’s data-center corridor.
AEP
US$127.76
American Electric Power Company
7D
0.5%
1Y
25.4%
Narrative Update • Jun 05

AEP: Data Center Driven Capital Plan And PJM Tensions Will Shape Returns

Analysts now see slightly higher long term value for American Electric Power, with the modeled fair value edging up from about $144.29 to $144.52. This reflects updated assumptions around data center driven revenue growth, modest adjustments to profit margin expectations, and a small reset in future P/E targets amid mixed but generally constructive price target revisions across the Street.
ETR
US$109.66
Entergy
7D
1.9%
1Y
33.4%
FE
US$45.91
FirstEnergy
7D
1.3%
1Y
14.5%
Narrative Update • Jun 04

FE: Customer Focused Investment Plan Will Support A More Attractive Outlook

Analysts have adjusted their price target on FirstEnergy to $52.23 from $53.23, citing updated assumptions around slightly higher expected revenue growth, a modest improvement in profit margins, and a somewhat lower future P/E multiple. What's in the News FirstEnergy reaffirmed its 2026 Core EPS guidance range of $2.62 to $2.82 per share and kept its long term Core EPS CAGR target near the top end of 6% to 8% for 2026 to 2030, according to a recent 8-K filing.
AXIA
US$9.83
AXIA Energia
7D
-5.0%
1Y
32.5%