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U.S. Electric Utilities Industry Analysis

UpdatedJan 08, 2026
DataAggregated Company Financials
Companies31
  • 7D-1.5%
  • 3M-7.4%
  • 1Y13.5%
  • YTD-2.8%

Over the last 7 days, the Electric Utilities industry has dropped 1.5%, driven by a pullback from Constellation Energy of 8.7%. In contrast, Oklo has gained 36%. Over the past 12 months, the industry was up 13%. 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, 09 Jan 2026US$921.8bUS$324.7bUS$43.5b20x21.2x2.8x
Sun, 07 Dec 2025US$930.2bUS$326.2bUS$43.7b19.9x21.3x2.9x
Tue, 04 Nov 2025US$965.4bUS$324.4bUS$42.0b21.6x23x3x
Thu, 02 Oct 2025US$921.7bUS$320.7bUS$40.7b21x22.6x2.9x
Sat, 30 Aug 2025US$884.6bUS$320.7bUS$40.7b20.2x21.7x2.8x
Mon, 28 Jul 2025US$882.2bUS$317.1bUS$38.9b21.9x22.7x2.8x
Wed, 25 Jun 2025US$854.2bUS$316.4bUS$38.5b20.5x22.2x2.7x
Fri, 23 May 2025US$850.4bUS$316.4bUS$38.5b20.7x22.1x2.7x
Sun, 20 Apr 2025US$812.2bUS$309.3bUS$38.1b20.5x21.3x2.6x
Tue, 18 Mar 2025US$822.1bUS$309.3bUS$37.6b20.6x21.9x2.7x
Thu, 13 Feb 2025US$828.1bUS$308.8bUS$37.2b20.7x22.3x2.7x
Sat, 11 Jan 2025US$787.8bUS$310.4bUS$35.8b19.3x22x2.5x
Mon, 09 Dec 2024US$835.5bUS$319.1bUS$36.9b21x22.7x2.6x
Wed, 06 Nov 2024US$826.6bUS$319.2bUS$38.0b20.4x21.8x2.6x
Fri, 04 Oct 2024US$867.7bUS$316.7bUS$36.6b19.8x23.7x2.7x
Sun, 01 Sep 2024US$814.4bUS$316.7bUS$36.6b19.5x22.3x2.6x
Tue, 30 Jul 2024US$762.5bUS$313.8bUS$37.7b18.5x20.2x2.4x
Thu, 27 Jun 2024US$739.2bUS$313.6bUS$38.5b17.1x19.2x2.4x
Sat, 25 May 2024US$754.1bUS$314.0bUS$38.5b17.2x19.6x2.4x
Mon, 22 Apr 2024US$698.5bUS$316.8bUS$34.9b18.1x20x2.2x
Wed, 20 Mar 2024US$677.7bUS$316.8bUS$34.9b17.5x19.4x2.1x
Fri, 16 Feb 2024US$638.0bUS$322.2bUS$30.9b17.9x20.7x2x
Sun, 14 Jan 2024US$669.4bUS$322.4bUS$31.8b18.8x21.1x2.1x
Tue, 12 Dec 2023US$665.0bUS$322.4bUS$31.8b18.9x20.9x2.1x
Thu, 09 Nov 2023US$644.5bUS$322.5bUS$31.8b18.3x20.3x2x
Sat, 07 Oct 2023US$599.0bUS$325.0bUS$30.5b18x19.6x1.8x
Mon, 04 Sep 2023US$653.4bUS$325.0bUS$30.5b18.5x21.4x2x
Wed, 02 Aug 2023US$695.0bUS$327.1bUS$30.1b19.1x23.1x2.1x
Fri, 30 Jun 2023US$681.2bUS$325.6bUS$28.9b18.6x23.5x2.1x
Sun, 28 May 2023US$672.0bUS$323.5bUS$28.9b18.8x23.2x2.1x
Tue, 25 Apr 2023US$728.8bUS$314.2bUS$29.7b20.2x24.6x2.3x
Thu, 23 Mar 2023US$670.9bUS$314.2bUS$29.7b18.5x22.6x2.1x
Sat, 18 Feb 2023US$702.2bUS$311.2bUS$30.3b19.7x23.1x2.3x
Mon, 16 Jan 2023US$737.0bUS$320.5bUS$31.5b19.7x23.4x2.3x
Price to Earnings Ratio

23.4x


Total Market Cap: US$737.0bTotal Earnings: US$31.5bTotal Revenue: US$320.5bTotal 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 2.4x 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 11% 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 Market1.52%
Utilities-1.52%
Electric Utilities-1.55%
Electric Utilities-1.55%
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
OKLO OkloUS$97.6036.0%
+US$4.0b		273.7%PB12.6x
AEP American Electric Power CompanyUS$115.930.5%
+US$331.1m		25.7%PE16.9x
HE Hawaiian Electric IndustriesUS$13.6611.1%
+US$234.8m		53.3%PE20.9x
LNT Alliant EnergyUS$65.550.8%
+US$138.8m		12.6%PE20.6x
OTTR Otter TailUS$84.084.0%
+US$137.0m		12.9%PE12.6x

Latest News

OTTR
US$84.08
Otter Tail
7D
4.0%
1Y
12.9%
LNT
US$65.55
Alliant Energy
7D
0.8%
1Y
12.6%

Calculating The Intrinsic Value Of Alliant Energy Corporation (NASDAQ:LNT)

Jan 08
Calculating The Intrinsic Value Of Alliant Energy Corporation (NASDAQ:LNT)
XEL
US$73.38
Xcel Energy
7D
-0.6%
1Y
10.5%

XEL: Data Center Power Demand Will Restore Premium Multiple Over Time

Analysts have modestly revised their blended price outlook for Xcel Energy, with individual targets now ranging from about $84 to $93, reflecting updated sector views on regulated utilities, data center driven electricity demand, and rate case timing. Analyst Commentary Recent research updates on Xcel Energy reflect a split between bullish analysts who see upside tied to valuation, capital investment, and data center related demand, and more cautious voices that are focused on sector performance and pricing in existing expectations.
NRG
US$143.53
NRG Energy
7D
-9.9%
1Y
45.7%
EIX
US$59.61
Edison International
7D
-0.7%
1Y
-14.2%
EVRG
US$72.94
Evergy
7D
0.6%
1Y
19.8%

EVRG: Constructive Regulation And Customer Progress Will Support Earnings Visibility Through 2029

Analysts have nudged their price expectations for Evergy higher, citing updated targets in the US$77 to US$87 range. These targets are supported by views on constructive regulation, customer growth progress, and a refreshed business plan expected later this year.
PPL
US$34.67
PPL
7D
-1.0%
1Y
7.8%

PPL (NYSE:PPL) Has More To Do To Multiply In Value Going Forward

Jan 07
PPL (NYSE:PPL) Has More To Do To Multiply In Value Going Forward
ETR
US$91.19
Entergy
7D
-1.3%
1Y
19.0%

ETR: Gulf Coast Load Growth And New Deals Will Support Premium Position

The analyst price target for Entergy has been lifted by about US$0.65, supported by analysts who cite continued industrial demand growth in its Gulf Coast service areas and an ongoing growth narrative tied to new large customer agreements. Analyst Commentary Recent research notes show a cluster of higher price targets on Entergy, with bullish analysts generally pointing to industrial demand in the Gulf Coast region and the company’s customer growth story as key supports for valuation.
CEG
US$322.54
Constellation Energy
7D
-8.7%
1Y
32.3%

CEG: Nuclear And Data Center Demand Will Drive Future Commercial Momentum

Analysts have raised their price expectations for Constellation Energy, with an updated implied fair value of about $476 compared with the prior $393, citing higher projected revenue growth, a modestly higher future P/E multiple, and supportive Street research that highlights commercial momentum in nuclear and data center linked demand. Analyst Commentary Recent Street research shows a cluster of price target increases and at least one rating upgrade on Constellation Energy, with several reports pointing to commercial momentum in nuclear generation, growing data center related demand, and supportive market conditions for power producers.
NEE
US$79.49
NextEra Energy
7D
-1.0%
1Y
12.5%
OKLO
US$97.60
Oklo
7D
36.0%
1Y
273.7%
PCG
US$15.72
PG&E
7D
-2.2%
1Y
-18.3%

PCG: Massive Transmission Spend Will Drive Data Center Power Demand Upside

Analysts have nudged their average price target for PG&E up to about $21.20. This reflects a slightly more optimistic view on long term revenue growth from data center driven demand and capital investment opportunities, partially offset by lower allowed returns on equity in California.
ES
US$67.62
Eversource Energy
7D
0.4%
1Y
19.2%

ES: Higher Earnings Outlook Will Mask Mounting Risk From Richer Multiples

Analysts have raised their price target on Eversource Energy from 50.51 dollars to 60.00 dollars, citing higher expected valuation multiples even as they moderate long term assumptions for revenue growth and profit margins. What's in the News Eversource Energy has scheduled a board meeting for December 3, 2025, with an agenda that includes considering the election of Warren Robert Mudge as a trustee (company filing).
AEP
US$115.93
American Electric Power Company
7D
0.5%
1Y
25.7%

AEP: Data Center Load And Massive Capex Plan Will Drive Future Upside

Analysts have nudged their price target on American Electric Power Company modestly higher, citing a series of recent target increases across the Street. These moves reflect expectations for stronger rate base and earnings growth supported by robust data center driven demand and a sizable, multi year capital plan.
HE
US$13.66
Hawaiian Electric Industries
7D
11.1%
1Y
53.3%
POR
US$48.98
Portland General Electric
7D
2.1%
1Y
14.8%

POR: Future Regulatory Ruling And Sector Tailwinds Will Guide Fairly Valued Shares

Analysts have modestly raised their price target on Portland General Electric to about $48.67 per share, up from roughly $45 to $47 previously, citing a lower perceived cost of capital and steady growth and margin expectations that are now better reflected in valuation. Analyst Commentary Street research on Portland General Electric reflects a balanced mix of optimism on earnings visibility and caution on near term valuation, with most targets now clustered in the mid to high $40s and one outlier at $51.