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U.S. Gas Utilities Industry Analysis

UpdatedMay 11, 2026
DataAggregated Company Financials
Companies15
  • 7D-3.5%
  • 3M0.3%
  • 1Y9.4%
  • YTD3.6%

Over the last 7 days, the Gas Utilities industry has dropped 3.5%, driven by a pullback from Atmos Energy of 4.3%. On the other hand Brookfield Infrastructure is actually up 5.1%. This takes the industry's 12 month performance to a gain of 9.4%. Earnings are forecast to grow by 8.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 11 May 2026US$83.8bUS$34.7bUS$3.8b17.3x22.1x2.4x
Wed, 08 Apr 2026US$87.6bUS$34.8bUS$4.0b20.2x21.8x2.5x
Fri, 06 Mar 2026US$88.3bUS$34.8bUS$4.0b19.1x22x2.5x
Sun, 01 Feb 2026US$81.1bUS$36.9bUS$4.0b18.7x20.4x2.2x
Tue, 30 Dec 2025US$79.2bUS$36.8bUS$3.9b18.4x20.2x2.2x
Thu, 27 Nov 2025US$81.4bUS$36.8bUS$3.9b19.6x20.8x2.2x
Sat, 25 Oct 2025US$79.7bUS$36.7bUS$2.3b19.4x34.5x2.2x
Mon, 22 Sep 2025US$75.4bUS$36.7bUS$2.3b17.2x32.6x2.1x
Wed, 20 Aug 2025US$74.9bUS$36.7bUS$2.3b17.7x32.4x2x
Fri, 18 Jul 2025US$74.4bUS$36.4bUS$3.2b18x23.5x2x
Sun, 15 Jun 2025US$72.4bUS$36.4bUS$3.2b17.7x22.8x2x
Tue, 13 May 2025US$74.3bUS$36.7bUS$3.2b18x23.5x2x
Thu, 10 Apr 2025US$68.0bUS$35.3bUS$2.5b19x27.1x1.9x
Sat, 08 Mar 2025US$70.1bUS$35.3bUS$2.5b19x28x2x
Mon, 03 Feb 2025US$68.4bUS$38.2bUS$2.3b18.5x29.6x1.8x
Wed, 01 Jan 2025US$65.9bUS$38.1bUS$2.3b18.1x28.4x1.7x
Fri, 29 Nov 2024US$72.3bUS$38.2bUS$2.3b20.3x31x1.9x
Sun, 27 Oct 2024US$62.8bUS$33.5bUS$4.4b17.7x14.2x1.9x
Tue, 24 Sep 2024US$62.1bUS$33.5bUS$4.4b17.8x14x1.9x
Thu, 22 Aug 2024US$59.5bUS$33.5bUS$4.4b16.8x13.4x1.8x
Sat, 20 Jul 2024US$58.1bUS$33.5bUS$3.1b17x18.9x1.7x
Mon, 17 Jun 2024US$53.9bUS$33.5bUS$3.1b15.4x17.6x1.6x
Wed, 15 May 2024US$55.6bUS$33.5bUS$3.1b16.1x18.1x1.7x
Fri, 12 Apr 2024US$53.7bUS$34.1bUS$2.2b16.5x24.8x1.6x
Sun, 10 Mar 2024US$54.8bUS$34.1bUS$2.2b16.8x25.3x1.6x
Tue, 06 Feb 2024US$51.3bUS$35.3bUS$1.9b14.6x27.6x1.5x
Thu, 04 Jan 2024US$59.1bUS$38.4bUS$1.5b16.7x40x1.5x
Sat, 02 Dec 2023US$55.8bUS$38.4bUS$1.5b16.3x38.4x1.5x
Mon, 30 Oct 2023US$48.9bUS$37.5bUS$684.8m15.4x71.4x1.3x
Wed, 27 Sep 2023US$50.9bUS$37.5bUS$684.8m17.7x74.4x1.4x
Fri, 25 Aug 2023US$52.6bUS$37.5bUS$684.8m18.2x76.8x1.4x
Sun, 23 Jul 2023US$55.5bUS$38.4bUS$1.5b19.8x37.4x1.4x
Tue, 20 Jun 2023US$54.8bUS$38.4bUS$1.5b19.2x36.9x1.4x
Thu, 18 May 2023US$54.7bUS$38.4bUS$1.5b19.6x36.9x1.4x
Price to Earnings Ratio

36.9x


Total Market Cap: US$54.7bTotal 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 22.1x 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 2.4x.
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 Market2.25%
Utilities-3.48%
Gas Utilities-3.51%
Gas Utilities-3.51%
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$38.995.1%
+US$255.3m		-0.2%PS1.3x
MDU MDU Resources GroupUS$22.49-0.2%
US$88.5m		34.6%PE24.8x
RGCO RGC ResourcesUS$23.201.5%
+US$3.9m		9.1%PE17.3x
CPK Chesapeake UtilitiesUS$126.42-0.05%
US$522.4k		2.9%PE20.4x

Latest News

SR
US$85.70
Spire
7D
-5.2%
1Y
18.7%
Analysis Article • 5h

What You Need To Know About The Spire Inc. (NYSE:SR) Analyst Downgrade Today

The latest analyst coverage could presage a bad day for Spire Inc. ( NYSE:SR ), with the analysts making...
SWX
US$89.95
Southwest Gas Holdings
7D
-3.4%
1Y
28.9%
NJR
US$55.55
New Jersey Resources
7D
-1.0%
1Y
20.0%
ATO
US$180.87
Atmos Energy
7D
-3.7%
1Y
16.5%
MDU
US$22.49
MDU Resources Group
7D
-0.2%
1Y
34.6%
UGI
US$32.32
UGI
7D
-7.4%
1Y
-6.3%
CPK
US$126.42
Chesapeake Utilities
7D
-0.05%
1Y
2.9%
NWN
US$50.44
Northwest Natural Holding
7D
-4.6%
1Y
22.4%
Narrative Update • May 09

NWN: Upgraded Views On 2026 EPS Guidance Will Drive Fair Value Reassessment

Analysts now see fair value for Northwest Natural Holding at $59.00, up from $58.25. This reflects updated views on slightly higher revenue growth, a modestly adjusted discount rate, a refined profit margin outlook, a higher future P/E assumption, and recent upward price target revisions across several research firms.
NFG
US$79.52
National Fuel Gas
7D
-4.2%
1Y
-1.1%
OGS
US$84.91
ONE Gas
7D
-4.4%
1Y
13.8%
BIPC
US$38.99
Brookfield Infrastructure
7D
5.1%
1Y
-0.2%
RGCO
US$23.20
RGC Resources
7D
1.5%
1Y
9.1%