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U.S. Gas Utilities Industry Analysis

UpdatedMay 15, 2026
DataAggregated Company Financials
Companies15
  • 7D0.7%
  • 3M-2.6%
  • 1Y13.3%
  • YTD4.8%

Last week, the Gas Utilities industry hasn't moved much but UGI is up 5.3% in that time. The past year has been better, since the industry has gained 13% in that time. Earnings are forecast to grow by 9.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 15 May 2026US$84.2bUS$34.7bUS$3.8b17.2x22.2x2.4x
Sun, 12 Apr 2026US$89.5bUS$34.8bUS$4.0b20.4x22.3x2.6x
Tue, 10 Mar 2026US$87.3bUS$34.8bUS$4.0b19.2x21.7x2.5x
Thu, 05 Feb 2026US$82.7bUS$37.3bUS$4.0b18.4x20.5x2.2x
Sat, 03 Jan 2026US$78.9bUS$36.8bUS$3.9b18.2x20.1x2.1x
Mon, 01 Dec 2025US$82.7bUS$36.8bUS$3.9b19.7x21.1x2.2x
Wed, 29 Oct 2025US$80.0bUS$36.7bUS$2.3b19.2x34.6x2.2x
Fri, 26 Sep 2025US$77.2bUS$36.7bUS$2.3b17.3x33.4x2.1x
Sun, 24 Aug 2025US$77.0bUS$36.7bUS$2.3b18.2x33.3x2.1x
Tue, 22 Jul 2025US$74.7bUS$36.4bUS$3.2b18.4x23.6x2.1x
Thu, 19 Jun 2025US$72.4bUS$36.4bUS$3.2b17.5x22.9x2x
Sat, 17 May 2025US$72.6bUS$36.4bUS$3.2b18.3x22.9x2x
Mon, 14 Apr 2025US$70.7bUS$35.3bUS$2.5b18.9x28.2x2x
Wed, 12 Mar 2025US$70.8bUS$35.3bUS$2.5b19x28.2x2x
Fri, 07 Feb 2025US$69.9bUS$35.3bUS$2.5b18.8x28.3x2x
Sun, 05 Jan 2025US$66.3bUS$38.1bUS$2.3b18.1x28.5x1.7x
Tue, 03 Dec 2024US$72.5bUS$38.2bUS$2.3b20.1x31.1x1.9x
Thu, 31 Oct 2024US$62.6bUS$33.5bUS$4.4b17.4x14.1x1.9x
Sat, 28 Sep 2024US$62.0bUS$33.5bUS$4.4b18.3x14x1.9x
Mon, 26 Aug 2024US$60.2bUS$33.5bUS$4.4b17x13.6x1.8x
Wed, 24 Jul 2024US$58.2bUS$33.5bUS$3.1b17.4x19x1.7x
Fri, 21 Jun 2024US$53.8bUS$33.5bUS$3.1b15.4x17.5x1.6x
Sun, 19 May 2024US$56.4bUS$33.5bUS$3.1b16.1x18.4x1.7x
Tue, 16 Apr 2024US$53.1bUS$34.1bUS$2.2b16.3x24.5x1.6x
Thu, 14 Mar 2024US$54.9bUS$34.1bUS$2.2b16.6x25.4x1.6x
Sat, 10 Feb 2024US$52.0bUS$34.4bUS$1.8b15.1x28.7x1.5x
Mon, 08 Jan 2024US$59.0bUS$38.4bUS$1.5b16.5x39.9x1.5x
Wed, 06 Dec 2023US$57.3bUS$38.4bUS$1.5b16.2x39.4x1.5x
Fri, 03 Nov 2023US$53.4bUS$39.5bUS$1.5b14.9x35.5x1.4x
Sun, 01 Oct 2023US$50.1bUS$37.5bUS$684.8m17.1x73.2x1.3x
Tue, 29 Aug 2023US$52.9bUS$37.5bUS$684.8m18.4x77.3x1.4x
Thu, 27 Jul 2023US$56.1bUS$38.4bUS$1.5b20x37.8x1.5x
Sat, 24 Jun 2023US$53.2bUS$38.4bUS$1.5b18.8x35.9x1.4x
Mon, 22 May 2023US$54.8bUS$38.4bUS$1.5b19.7x37x1.4x
Price to Earnings Ratio

37x


Total Market Cap: US$54.8bTotal 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 30.2x202420252026
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 22.2x which is lower than its 3-year average PE of 30.2x.
  • 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 Market1.15%
Utilities-0.74%
Gas Utilities0.69%
Gas Utilities0.69%
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$34.025.3%
+US$364.5m		-3.7%PE11.4x
NJR New Jersey ResourcesUS$57.804.1%
+US$229.1m		25.0%PE17.1x
BIPC Brookfield InfrastructureUS$40.222.8%
+US$155.6m		3.4%PS1.4x
NFG National Fuel GasUS$81.511.6%
+US$122.6m		0.6%PE11.3x
MDU MDU Resources GroupUS$22.570.4%
+US$117.5m		30.9%PE24.8x

Latest News

ATO
US$180.87
Atmos Energy
7D
-0.5%
1Y
16.0%
Analysis Article • 9h

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$84.29
ONE Gas
7D
-1.2%
1Y
13.7%
NWN
US$49.91
Northwest Natural Holding
7D
-0.6%
1Y
22.5%
SWX
US$89.54
Southwest Gas Holdings
7D
-1.3%
1Y
29.4%
MDU
US$22.57
MDU Resources Group
7D
0.4%
1Y
30.9%
Narrative Update • May 14

MDU: Future Earnings Delivery And Capital Discipline Will Support Upside Potential

Narrative Update Analysts have lifted their average price target for MDU Resources Group from $23.00 to about $27.46, reflecting updated views on revenue growth, profit margins, discount rates and future P/E assumptions based on recent research from several large firms. Analyst Commentary Recent Street research coverage on MDU Resources Group points to a mix of cautious and constructive views, with investors watching how the stock tracks against updated valuation work.
UGI
US$34.02
UGI
7D
5.3%
1Y
-3.7%
NJR
US$57.80
New Jersey Resources
7D
4.1%
1Y
25.0%
SR
US$86.12
Spire
7D
0.7%
1Y
18.6%
Narrative Update • May 12

SR: Preferred Redemption And Updated Assumptions Will Support Stronger Future Total Returns

Analysts have trimmed their price target for Spire from $99.75 to $98.78 as they factor in updated assumptions that combine higher projected revenue growth with slightly lower profit margins and a modest adjustment to the expected future P/E multiple. What's in the News On February 13, 2026, Spire Inc.
CPK
US$127.57
Chesapeake Utilities
7D
0.3%
1Y
6.0%
NFG
US$81.51
National Fuel Gas
7D
1.6%
1Y
0.6%
BIPC
US$40.22
Brookfield Infrastructure
7D
2.8%
1Y
3.4%
RGCO
US$23.13
RGC Resources
7D
-2.2%
1Y
4.0%