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U.S. Gas Utilities Industry Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies15
  • 7D0.02%
  • 3M-2.2%
  • 1Y12.0%
  • YTD4.1%

Over the last 7 days, the Gas Utilities industry has remained flat, although notably UGI gained 5.6%. The past year has been better, since the industry has gained 12% in that time. Earnings are forecast to grow by 9.5% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026US$84.8bUS$34.7bUS$3.8b17.4x22.4x2.4x
Sat, 18 Apr 2026US$87.8bUS$34.8bUS$4.0b19.8x21.8x2.5x
Mon, 16 Mar 2026US$88.5bUS$34.8bUS$4.0b19.3x22x2.5x
Wed, 11 Feb 2026US$82.8bUS$37.4bUS$4.0b19x20.8x2.2x
Fri, 09 Jan 2026US$78.1bUS$36.8bUS$3.9b18.2x19.9x2.1x
Sun, 07 Dec 2025US$79.4bUS$36.8bUS$3.9b18.5x20.3x2.2x
Tue, 04 Nov 2025US$78.0bUS$36.7bUS$2.3b19.2x33.8x2.1x
Thu, 02 Oct 2025US$78.5bUS$36.7bUS$2.3b17.7x34x2.1x
Sat, 30 Aug 2025US$76.0bUS$36.7bUS$2.3b17.8x32.9x2.1x
Mon, 28 Jul 2025US$74.5bUS$36.4bUS$3.2b18x23.5x2x
Wed, 25 Jun 2025US$74.0bUS$36.4bUS$3.2b17.9x23.4x2x
Fri, 23 May 2025US$72.9bUS$36.4bUS$3.2b18.1x23x2x
Sun, 20 Apr 2025US$73.2bUS$35.3bUS$2.5b19.4x29.2x2.1x
Tue, 18 Mar 2025US$71.2bUS$35.3bUS$2.5b19.3x28.4x2x
Thu, 13 Feb 2025US$69.7bUS$35.3bUS$2.5b18.8x28.2x2x
Sat, 11 Jan 2025US$65.5bUS$38.1bUS$2.3b17.8x28.2x1.7x
Mon, 09 Dec 2024US$68.7bUS$38.1bUS$2.3b19x29.6x1.8x
Wed, 06 Nov 2024US$63.9bUS$37.9bUS$4.8b17.1x13.2x1.7x
Fri, 04 Oct 2024US$62.2bUS$33.5bUS$4.4b17.4x14x1.9x
Sun, 01 Sep 2024US$60.5bUS$33.5bUS$4.4b17.2x13.7x1.8x
Tue, 30 Jul 2024US$59.2bUS$33.5bUS$3.1b17.5x19.3x1.8x
Thu, 27 Jun 2024US$54.1bUS$33.5bUS$3.1b15.5x17.6x1.6x
Sat, 25 May 2024US$54.7bUS$33.5bUS$3.1b15.6x17.8x1.6x
Mon, 22 Apr 2024US$54.8bUS$34.1bUS$2.2b16.8x25.3x1.6x
Wed, 20 Mar 2024US$53.9bUS$34.1bUS$2.2b16.8x24.9x1.6x
Fri, 16 Feb 2024US$51.6bUS$34.4bUS$1.8b15.2x28.5x1.5x
Sun, 14 Jan 2024US$57.7bUS$38.4bUS$1.5b15.8x39x1.5x
Tue, 12 Dec 2023US$56.9bUS$38.4bUS$1.5b16.7x38.5x1.5x
Thu, 09 Nov 2023US$54.1bUS$39.5bUS$1.5b14.4x36.1x1.4x
Sat, 07 Oct 2023US$50.0bUS$37.5bUS$684.8m16.9x73x1.3x
Mon, 04 Sep 2023US$52.9bUS$37.5bUS$684.8m18x77.3x1.4x
Wed, 02 Aug 2023US$54.5bUS$38.4bUS$1.5b19.1x36.7x1.4x
Fri, 30 Jun 2023US$54.0bUS$38.4bUS$1.5b19x36.4x1.4x
Sun, 28 May 2023US$54.3bUS$38.4bUS$1.5b19.8x36.6x1.4x
Price to Earnings Ratio

36.6x


Total Market Cap: US$54.3bTotal 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 30.1x202420252026
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 22.4x which is lower than its 3-year average PE of 30.1x.
  • The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Gas Utilities industry have grown 37% per year over the last three years.
  • Meanwhile revenues for these companies have declined 3.3% 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 Market-0.32%
Utilities-0.41%
Gas Utilities0.019%
Gas Utilities0.019%
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
UGI UGIUS$35.115.6%
+US$398.8m		-1.4%PE11.7x
NFG National Fuel GasUS$82.231.9%
+US$149.2m		1.1%PE11.4x
BIPC Brookfield InfrastructureUS$41.532.3%
+US$113.1m		6.9%PS1.4x
SWX Southwest Gas HoldingsUS$89.661.1%
+US$68.0m		29.8%PE27.2x
SR SpireUS$86.711.3%
+US$68.0m		16.8%PE17.4x

Latest News

NFG
US$82.23
National Fuel Gas
7D
1.9%
1Y
1.1%
SR
US$86.71
Spire
7D
1.3%
1Y
16.8%
CPK
US$126.95
Chesapeake Utilities
7D
0.4%
1Y
3.8%
Narrative Update • May 18

CPK: Depreciation Study Headwinds Will Shape Future Earnings Re Rating Potential

Analysts have lowered their price target for Chesapeake Utilities to $145.80 from $149.25, citing updated assumptions around revenue growth, discount rate, profit margin, and forward P/E estimates that inform their fair value analysis. Analyst Commentary Recent researcher commentary on Chesapeake Utilities offers a mix of optimism around long term growth potential and caution around near term earnings headwinds and valuation assumptions.
NWN
US$49.92
Northwest Natural Holding
7D
0.4%
1Y
21.9%
MDU
US$22.00
MDU Resources Group
7D
-2.7%
1Y
28.4%
ATO
US$176.00
Atmos Energy
7D
-2.2%
1Y
12.1%
Analysis Article • May 15

Atmos Energy (NYSE:ATO) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of

Atmos Energy Corporation ( NYSE:ATO ) announced strong profits, but the stock was stagnant. Our analysis suggests that...
OGS
US$82.80
ONE Gas
7D
-1.4%
1Y
10.7%
SWX
US$89.66
Southwest Gas Holdings
7D
1.1%
1Y
29.8%
UGI
US$35.11
UGI
7D
5.6%
1Y
-1.4%
NJR
US$57.40
New Jersey Resources
7D
0.4%
1Y
24.6%
BIPC
US$41.53
Brookfield Infrastructure
7D
2.3%
1Y
6.9%