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U.S. Electric Utilities Industry Analysis

UpdatedJan 13, 2026
DataAggregated Company Financials
Companies31
  • 7D-0.8%
  • 3M-8.7%
  • 1Y16.7%
  • YTD-1.4%

The Electric Utilities industry has been flat over the last week, but NRG Energy has lost 7.9%. The past year has been better, since the industry has gained 17% in that time. 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
Wed, 14 Jan 2026US$928.0bUS$324.7bUS$43.5b20.2x21.3x2.9x
Fri, 12 Dec 2025US$917.6bUS$326.2bUS$43.7b19.9x21x2.8x
Sun, 09 Nov 2025US$961.6bUS$326.2bUS$43.7b20.5x22x2.9x
Tue, 07 Oct 2025US$947.4bUS$320.7bUS$40.7b21.2x23.3x3x
Thu, 04 Sep 2025US$878.6bUS$320.7bUS$40.7b20x21.6x2.7x
Sat, 02 Aug 2025US$895.0bUS$319.2bUS$40.1b20.6x22.3x2.8x
Mon, 30 Jun 2025US$850.5bUS$316.4bUS$38.5b20.4x22.1x2.7x
Wed, 28 May 2025US$846.5bUS$316.4bUS$38.5b21x22x2.7x
Fri, 25 Apr 2025US$817.2bUS$309.8bUS$36.6b20.8x22.3x2.6x
Sun, 23 Mar 2025US$816.3bUS$309.3bUS$37.6b20.6x21.7x2.6x
Tue, 18 Feb 2025US$820.9bUS$309.5bUS$37.4b20.3x22x2.7x
Thu, 16 Jan 2025US$782.0bUS$310.4bUS$35.8b19.8x21.9x2.5x
Sat, 14 Dec 2024US$813.2bUS$319.1bUS$36.9b20.8x22.1x2.5x
Mon, 11 Nov 2024US$837.9bUS$319.1bUS$36.9b20.7x22.7x2.6x
Wed, 09 Oct 2024US$843.2bUS$316.7bUS$36.6b19.3x23.1x2.7x
Fri, 06 Sep 2024US$820.7bUS$316.7bUS$36.6b19.8x22.4x2.6x
Sun, 04 Aug 2024US$797.2bUS$315.7bUS$37.9b20.1x21.1x2.5x
Tue, 02 Jul 2024US$726.6bUS$313.6bUS$38.5b17x18.9x2.3x
Thu, 30 May 2024US$758.9bUS$314.0bUS$38.5b16.9x19.7x2.4x
Sat, 27 Apr 2024US$705.4bUS$315.0bUS$35.2b18x20x2.2x
Mon, 25 Mar 2024US$679.5bUS$316.8bUS$34.9b17.4x19.4x2.1x
Wed, 21 Feb 2024US$645.9bUS$320.9bUS$31.8b17.6x20.3x2x
Fri, 19 Jan 2024US$644.8bUS$322.4bUS$31.8b18.2x20.3x2x
Sun, 17 Dec 2023US$670.8bUS$322.4bUS$31.8b19x21.1x2.1x
Tue, 14 Nov 2023US$623.2bUS$322.4bUS$31.8b17.8x19.6x1.9x
Thu, 12 Oct 2023US$624.6bUS$325.0bUS$30.5b18.7x20.5x1.9x
Sat, 09 Sep 2023US$653.5bUS$325.0bUS$30.5b18.7x21.4x2x
Mon, 07 Aug 2023US$672.8bUS$325.9bUS$30.9b19x21.8x2.1x
Wed, 05 Jul 2023US$694.1bUS$325.6bUS$28.9b18.7x24x2.1x
Fri, 02 Jun 2023US$670.8bUS$323.5bUS$28.9b18.7x23.2x2.1x
Sun, 30 Apr 2023US$718.0bUS$319.0bUS$31.9b20.2x22.5x2.3x
Tue, 28 Mar 2023US$684.6bUS$314.2bUS$29.7b19.2x23.1x2.2x
Thu, 23 Feb 2023US$687.0bUS$312.3bUS$30.3b19.3x22.6x2.2x
Sat, 21 Jan 2023US$714.9bUS$320.5bUS$31.5b19.2x22.7x2.2x
Price to Earnings Ratio

22.7x


Total Market Cap: US$714.9bTotal 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 2.9x.
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 Market0.88%
Utilities-0.23%
Electric Utilities-0.78%
Electric Utilities-0.78%
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$333.53-5.9%
US$10.1b		15.5%PE44.1x
NEE NextEra EnergyUS$81.640.7%
+US$1.2b		20.1%PE26.1x
AEP American Electric Power CompanyUS$116.621.4%
+US$843.9m		23.4%PE17x
ETR EntergyUS$94.371.1%
+US$474.9m		21.7%PE23.6x
ES Eversource EnergyUS$68.401.5%
+US$371.4m		22.2%PE19.1x

Latest News

NEE
US$81.64
NextEra Energy
7D
0.7%
1Y
20.1%
AEP
US$116.62
American Electric Power Company
7D
1.4%
1Y
23.4%

AEP: Data Center Demand And Grid Investments Will Shape Balanced Outlook

Analysts have nudged their price targets on American Electric Power higher into a roughly $117 to $133 range, pointing to a solid balance sheet, a large planned capital program, exposure to rising power demand including data centers, and constructive regulatory support as key reasons for the updated valuations. Analyst Commentary Recent research on American Electric Power Company shows a mix of optimism around growth opportunities and prudence around valuation and execution risk.
PCG
US$15.73
PG&E
7D
-2.6%
1Y
-3.0%

PCG: Data Center Demand And Grid Investment Cycle Will Drive Future Upside

PG&E's consensus analyst price target has recently shifted higher into the low $20s, with analysts pointing to sector-wide target resets, TD's view of a significant long term grid investment cycle tied to data center demand, and expectations that PG&E's current valuation does not fully reflect these themes, even as California cost of capital debates continue. Analyst Commentary Recent research highlights a split view on PG&E, with some analysts focused on long term grid investment tied to data center demand and others emphasizing regulatory risk around California's cost of capital.
NRG
US$150.59
NRG Energy
7D
-5.7%
1Y
50.9%

NRG: Data Center Pipelines And Buybacks Will Drive Future Upside

Analysts have slightly raised their fair value estimate for NRG Energy to about $201.96 from $201.58 and increased their price target to $145, reflecting updated views on long term profit margins and future P/E assumptions across regulated and diversified utilities and IPPs. Analyst Commentary Recent Street research around NRG Energy highlights a mix of optimism and caution as analysts update their views across the broader Regulated and Diversified Utilities and IPP group. Bullish Takeaways Bullish analysts are comfortable reaffirming a neutral stance while still lifting their price targets to US$145, which signals confidence that updated P/E assumptions and margin expectations support a higher fair value anchor for the stock.
CEG
US$333.53
Constellation Energy
7D
-5.9%
1Y
15.5%
DUK
US$117.39
Duke Energy
7D
-0.3%
1Y
9.9%
ES
US$68.40
Eversource Energy
7D
1.5%
1Y
22.2%

ES: Reaffirmed 2025 EPS Guidance Will Support A Higher Future Earnings Multiple

Analysts have trimmed their price target on Eversource Energy by about $0.89, reflecting slightly higher discount rate assumptions, a modest adjustment to projected revenue growth, and a small tweak to expected profit margin and future P/E levels. 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 (Board Meeting).
FE
US$45.30
FirstEnergy
7D
1.0%
1Y
15.6%

FE: Ohio Grid Investments Will Drive Long Term Returns

Analysts have slightly revised their fair value estimate for FirstEnergy to US$50.00 per share. This reflects marginal tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E, while keeping their overall price target essentially unchanged.
XEL
US$74.94
Xcel Energy
7D
0.7%
1Y
16.9%

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.
EXC
US$43.32
Exelon
7D
-1.2%
1Y
14.2%

EXC: Pennsylvania Step Up And Wires Only Profile Should Support Upside

Analysts have lifted their average price target for Exelon by a little over $0.10 per share, citing a combination of higher P/E assumptions, slightly stronger modeled revenue growth, and ongoing regulatory visibility. These factors are partially offset by modestly softer profit margin expectations and affordability concerns.
ETR
US$94.37
Entergy
7D
1.1%
1Y
21.7%

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.
OKLO
US$97.09
Oklo
7D
1.6%
1Y
325.6%