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U.S. Gas Utilities Industry Analysis

UpdatedMay 07, 2026
DataAggregated Company Financials
Companies15
  • 7D-1.6%
  • 3M1.7%
  • 1Y9.7%
  • YTD5.4%

Over the last 7 days, the Gas Utilities industry has dropped 1.6%, driven by pullbacks in National Fuel Gas and UGI of 7.4% and 6.7%, respectively. Meanwhile, Brookfield Infrastructure actually outperformed within the industry, gaining 11% in the last week. In the past year, the industry has gained 12%. Looking forward, earnings are forecast to grow by 9.3% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 07 May 2026US$86.0bUS$34.6bUS$3.6b18.3x24x2.5x
Sat, 04 Apr 2026US$87.9bUS$34.8bUS$4.0b20x21.9x2.5x
Mon, 02 Mar 2026US$88.0bUS$34.8bUS$4.0b19.5x21.9x2.5x
Wed, 28 Jan 2026US$80.8bUS$36.8bUS$3.9b18.6x20.6x2.2x
Fri, 26 Dec 2025US$79.5bUS$36.8bUS$3.9b18.4x20.3x2.2x
Sun, 23 Nov 2025US$81.1bUS$36.8bUS$3.9b19.5x20.7x2.2x
Tue, 21 Oct 2025US$80.5bUS$36.7bUS$2.3b19x34.8x2.2x
Thu, 18 Sep 2025US$74.9bUS$36.7bUS$2.3b16.9x32.4x2x
Sat, 16 Aug 2025US$76.4bUS$36.7bUS$2.3b18.1x33.1x2.1x
Mon, 14 Jul 2025US$73.3bUS$36.4bUS$3.2b17.9x23.1x2x
Wed, 11 Jun 2025US$72.2bUS$36.4bUS$3.2b18.1x22.8x2x
Fri, 09 May 2025US$75.3bUS$36.4bUS$3.1b18.7x24.3x2.1x
Sun, 06 Apr 2025US$69.3bUS$35.3bUS$2.5b18.8x27.7x2x
Tue, 04 Mar 2025US$72.4bUS$35.3bUS$2.5b19.5x28.9x2.1x
Thu, 30 Jan 2025US$67.6bUS$38.1bUS$2.3b18.4x29.1x1.8x
Sat, 28 Dec 2024US$66.4bUS$38.1bUS$2.3b18.2x28.6x1.7x
Mon, 25 Nov 2024US$71.6bUS$38.1bUS$2.3b21.5x31.4x1.9x
Wed, 23 Oct 2024US$63.4bUS$33.5bUS$4.4b17.9x14.3x1.9x
Fri, 20 Sep 2024US$62.0bUS$33.5bUS$4.4b17.9x14x1.9x
Sun, 18 Aug 2024US$59.3bUS$33.5bUS$4.4b16.9x13.4x1.8x
Tue, 16 Jul 2024US$56.3bUS$33.5bUS$3.1b16.6x18.4x1.7x
Thu, 13 Jun 2024US$54.3bUS$33.5bUS$3.1b15.5x17.7x1.6x
Sat, 11 May 2024US$56.5bUS$33.5bUS$3.1b16.1x18.4x1.7x
Mon, 08 Apr 2024US$54.7bUS$34.1bUS$2.2b17x25.3x1.6x
Wed, 06 Mar 2024US$53.7bUS$34.1bUS$2.2b16x24.8x1.6x
Fri, 02 Feb 2024US$57.7bUS$37.7bUS$2.5b15.3x22.9x1.5x
Sun, 31 Dec 2023US$58.6bUS$38.4bUS$1.5b16.4x39.6x1.5x
Tue, 28 Nov 2023US$55.7bUS$38.4bUS$1.5b15.9x38.3x1.4x
Thu, 26 Oct 2023US$49.6bUS$37.5bUS$684.8m15.7x72.5x1.3x
Sat, 23 Sep 2023US$52.0bUS$37.5bUS$684.8m18.4x76x1.4x
Mon, 21 Aug 2023US$53.1bUS$37.5bUS$684.8m18.3x77.5x1.4x
Wed, 19 Jul 2023US$54.4bUS$38.4bUS$1.5b19.2x36.7x1.4x
Fri, 16 Jun 2023US$54.8bUS$38.4bUS$1.5b19.1x36.9x1.4x
Sun, 14 May 2023US$55.5bUS$38.4bUS$1.5b20.1x37.4x1.4x
Price to Earnings Ratio

37.4x


Total Market Cap: US$55.5bTotal Earnings: US$1.5bTotal Revenue: US$38.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Gas Utilities Industry Price to Earnings3Y Average 30.3x202420252026
Current Industry PE
  • Investors are pessimistic on the American Gas Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 24.3x which is lower than its 3-year average PE of 30.3x.
  • The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Gas Utilities industry have grown 34% per year over the last three years.
  • Meanwhile revenues for these companies have declined 3.2% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the U.S. Utilities industry?

US Market3.19%
Utilities0.31%
Gas Utilities-1.60%
Gas Utilities-1.60%
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
BIPC Brookfield InfrastructureUS$39.5111.3%
+US$492.1m		2.3%PS1.3x
MDU MDU Resources GroupUS$22.311.6%
+US$73.7m		26.7%PE23.9x
CPK Chesapeake UtilitiesUS$125.830.6%
+US$16.8m		-6.1%PE21.5x
RGCO RGC ResourcesUS$22.682.3%
+US$5.4m		7.6%PE18.3x

Latest News

NWN
US$48.66
Northwest Natural Holding
7D
-8.4%
1Y
10.7%
OGS
US$86.00
ONE Gas
7D
-1.8%
1Y
5.7%
SWX
US$90.82
Southwest Gas Holdings
7D
-1.2%
1Y
18.8%
NJR
US$54.86
New Jersey Resources
7D
-1.0%
1Y
12.4%
UGI
US$35.07
UGI
7D
-6.7%
1Y
4.5%
ATO
US$184.76
Atmos Energy
7D
-0.5%
1Y
13.6%
BIPC
US$39.51
Brookfield Infrastructure
7D
11.3%
1Y
2.3%
SR
US$86.21
Spire
7D
-3.9%
1Y
13.3%
NFG
US$81.51
National Fuel Gas
7D
-7.4%
1Y
-1.2%
MDU
US$22.31
MDU Resources Group
7D
1.6%
1Y
26.7%
CPK
US$125.83
Chesapeake Utilities
7D
0.6%
1Y
-6.1%
Narrative Update • Apr 23

CPK: Depreciation Headwinds Will Shape Future Undervalued Earnings Recovery Potential

Analysts have inched their price target for Chesapeake Utilities higher to $149.25, a move of about $0.50, as they balance recent estimate adjustments tied to depreciation headwinds with updated views on the stock’s longer term valuation multiples. Analyst Commentary Bullish Takeaways Bullish analysts see the modest lift in the price target as a sign that, even with depreciation headwinds in the mix, the valuation case still looks reasonable at current levels.
RGCO
US$22.68
RGC Resources
7D
2.3%
1Y
7.6%