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U.S. Gas Utilities Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies15
  • 7D2.1%
  • 3M6.6%
  • 1Y18.4%
  • YTD9.4%

All of the companies in the Gas Utilities industry have been up over the last week, with the industry up 2.1%. This takes the industry's 12 month performance to a gain of 18%. Earnings are forecast to grow by 9.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Mar 2026US$88.0bUS$34.8bUS$4.0b19.5x21.9x2.5x
Thu, 29 Jan 2026US$81.3bUS$36.8bUS$3.9b18.4x20.7x2.2x
Sat, 27 Dec 2025US$79.5bUS$36.8bUS$3.9b18.3x20.3x2.2x
Mon, 24 Nov 2025US$81.1bUS$36.8bUS$3.9b19.5x20.7x2.2x
Wed, 22 Oct 2025US$80.5bUS$36.7bUS$2.3b19x34.8x2.2x
Fri, 19 Sep 2025US$75.3bUS$36.7bUS$2.3b17.2x32.6x2.1x
Sun, 17 Aug 2025US$75.8bUS$36.7bUS$2.3b18.1x32.8x2.1x
Tue, 15 Jul 2025US$73.3bUS$36.4bUS$3.2b18.2x23.1x2x
Thu, 12 Jun 2025US$72.7bUS$36.4bUS$3.2b18.2x22.9x2x
Sat, 10 May 2025US$74.9bUS$36.7bUS$3.2b18.6x23.7x2x
Mon, 07 Apr 2025US$69.3bUS$35.3bUS$2.5b18.8x27.7x2x
Wed, 05 Mar 2025US$72.9bUS$35.3bUS$2.5b19.2x29.1x2.1x
Fri, 31 Jan 2025US$67.1bUS$38.2bUS$2.3b18.6x29x1.8x
Sun, 29 Dec 2024US$66.0bUS$38.1bUS$2.3b18.2x28.4x1.7x
Tue, 26 Nov 2024US$71.6bUS$38.1bUS$2.3b21.7x31.4x1.9x
Thu, 24 Oct 2024US$63.5bUS$33.5bUS$4.4b18x14.3x1.9x
Sat, 21 Sep 2024US$62.2bUS$33.5bUS$4.4b17.8x14x1.9x
Mon, 19 Aug 2024US$59.3bUS$33.5bUS$4.4b16.9x13.4x1.8x
Wed, 17 Jul 2024US$56.5bUS$33.5bUS$3.1b17.1x18.4x1.7x
Fri, 14 Jun 2024US$54.1bUS$33.5bUS$3.1b15.4x17.6x1.6x
Sun, 12 May 2024US$56.0bUS$33.5bUS$3.1b16.1x18.3x1.7x
Tue, 09 Apr 2024US$54.7bUS$34.1bUS$2.2b16.7x25.3x1.6x
Thu, 07 Mar 2024US$53.8bUS$34.1bUS$2.2b16.1x24.9x1.6x
Sat, 03 Feb 2024US$57.2bUS$38.1bUS$1.7b16.5x33.1x1.5x
Mon, 01 Jan 2024US$58.6bUS$38.4bUS$1.5b16.4x39.6x1.5x
Wed, 29 Nov 2023US$55.6bUS$38.4bUS$1.5b15.8x38.3x1.4x
Fri, 27 Oct 2023US$49.7bUS$37.5bUS$684.8m15.8x72.6x1.3x
Sun, 24 Sep 2023US$52.0bUS$37.5bUS$684.8m18.4x76x1.4x
Tue, 22 Aug 2023US$53.1bUS$37.5bUS$684.8m18.3x77.5x1.4x
Thu, 20 Jul 2023US$54.9bUS$38.4bUS$1.5b19.4x37x1.4x
Sat, 17 Jun 2023US$54.8bUS$38.4bUS$1.5b19.2x36.9x1.4x
Mon, 15 May 2023US$55.5bUS$38.4bUS$1.5b20.1x37.4x1.4x
Wed, 12 Apr 2023US$58.3bUS$38.5bUS$2.4b20.5x24.6x1.5x
Fri, 10 Mar 2023US$56.0bUS$38.5bUS$2.4b19.4x23.7x1.5x
Price to Earnings Ratio

23.7x


Total Market Cap: US$56.0bTotal Earnings: US$2.4bTotal Revenue: US$38.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Gas Utilities Industry Price to Earnings3Y Average 30.5x202420252026
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 21.9x which is lower than its 3-year average PE of 30.5x.
  • 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 19% 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-0.57%
Utilities2.61%
Gas Utilities2.06%
Gas Utilities2.06%
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
ATO Atmos EnergyUS$187.072.9%
+US$885.1m		21.8%PE24.8x
NFG National Fuel GasUS$92.665.8%
+US$481.8m		23.0%PE13.4x
BIPC Brookfield InfrastructureUS$49.672.8%
+US$163.1m		26.6%PS1.6x
MDU MDU Resources GroupUS$20.853.8%
+US$157.4m		21.3%PE22.3x
NJR New Jersey ResourcesUS$54.492.1%
+US$111.9m		10.8%PE16.8x

Latest News

CPK
US$137.21
Chesapeake Utilities
7D
1.6%
1Y
6.7%
NWN
US$52.59
Northwest Natural Holding
7D
4.9%
1Y
24.1%
OGS
US$87.37
ONE Gas
7D
1.3%
1Y
14.9%
MDU
US$20.85
MDU Resources Group
7D
3.8%
1Y
21.3%
ATO
US$187.07
Atmos Energy
7D
2.9%
1Y
21.8%

ATO: Expanded Share Authorization And Governance Revisions Will Support Steady Earnings Outlook

Analysts have nudged their price target on Atmos Energy higher to $180.10 from $176.82, reflecting updated views on fair value, slightly adjusted revenue growth and profit margin expectations, and a modestly higher assumed future P/E multiple. What's in the News Shareholders approved amendments to Atmos Energy's Restated Articles of Incorporation at the February 4, 2026 annual meeting, including an increase in authorized shares to 400 million and adoption of plurality voting for contested director elections (Key Developments).
NJR
US$54.49
New Jersey Resources
7D
2.1%
1Y
10.8%

NJR: Refined Earnings Outlook And Mild Assumption Shifts Will Support Steady Returns

Analysts nudged their price targets for New Jersey Resources higher to $55, reflecting modest adjustments to fair value assumptions, the discount rate, revenue growth, profit margin and future P/E expectations in light of recent research updates. Analyst Commentary JPMorgan lifted its price target for New Jersey Resources to $55, which reflects updated views on valuation, earnings power and the appropriate discount rate for the stock.
BIPC
US$49.67
Brookfield Infrastructure
7D
2.8%
1Y
26.6%
NFG
US$92.66
National Fuel Gas
7D
5.8%
1Y
23.0%