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U.S. Gas Utilities Industry Analysis

UpdatedJul 09, 2026
DataAggregated Company Financials
Companies15
  • 7D2.4%
  • 3M-8.4%
  • 1Y10.2%
  • YTD2.4%

The Gas Utilities industry is up 2.4% in the last week, with Atmos Energy up 2.3%. This takes the industry's 12 month performance to a gain of 10%. Looking forward, earnings are forecast to grow by 9.8% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Jul 2026US$83.0bUS$34.7bUS$3.8b17x22x2.4x
Sat, 06 Jun 2026US$80.7bUS$34.7bUS$3.8b17x21.4x2.3x
Mon, 04 May 2026US$86.5bUS$34.9bUS$3.6b19.7x24.4x2.5x
Wed, 01 Apr 2026US$86.4bUS$34.8bUS$4.0b19.5x21.5x2.5x
Fri, 27 Feb 2026US$86.2bUS$34.8bUS$4.0b19.9x21.5x2.5x
Sun, 25 Jan 2026US$79.6bUS$36.8bUS$3.9b18.2x20.3x2.2x
Tue, 23 Dec 2025US$78.7bUS$36.8bUS$3.9b18.3x20.1x2.1x
Thu, 20 Nov 2025US$80.2bUS$36.9bUS$3.7b19.2x21.5x2.2x
Sat, 18 Oct 2025US$79.3bUS$36.7bUS$2.3b18.6x34.3x2.2x
Mon, 15 Sep 2025US$76.3bUS$36.7bUS$2.3b17.9x33x2.1x
Wed, 13 Aug 2025US$76.0bUS$36.7bUS$2.3b18.1x32.9x2.1x
Fri, 11 Jul 2025US$73.0bUS$36.4bUS$3.2b18x23.1x2x
Sun, 08 Jun 2025US$72.1bUS$36.4bUS$3.2b18.1x22.8x2x
Tue, 06 May 2025US$74.7bUS$35.4bUS$2.9b19.6x25.6x2.1x
Thu, 03 Apr 2025US$72.9bUS$35.3bUS$2.5b20x29.1x2.1x
Sat, 01 Mar 2025US$71.3bUS$35.3bUS$2.5b19.4x28.4x2x
Mon, 27 Jan 2025US$67.5bUS$38.1bUS$2.3b18.2x29x1.8x
Wed, 25 Dec 2024US$66.3bUS$38.1bUS$2.3b18.3x28.5x1.7x
Fri, 22 Nov 2024US$68.8bUS$38.3bUS$2.7b20.1x25.6x1.8x
Sun, 20 Oct 2024US$63.9bUS$33.5bUS$4.4b18.1x14.4x1.9x
Tue, 17 Sep 2024US$61.9bUS$33.5bUS$4.4b17.6x14x1.8x
Thu, 15 Aug 2024US$58.6bUS$33.5bUS$4.4b16.8x13.2x1.8x
Sat, 13 Jul 2024US$55.7bUS$33.5bUS$3.1b16.4x18.1x1.7x
Mon, 10 Jun 2024US$54.4bUS$33.5bUS$3.1b15.6x17.7x1.6x
Wed, 08 May 2024US$56.3bUS$33.4bUS$2.9b16.3x19.1x1.7x
Fri, 05 Apr 2024US$55.0bUS$34.1bUS$2.2b17.2x25.4x1.6x
Sun, 03 Mar 2024US$52.9bUS$34.1bUS$2.2b15.8x24.5x1.6x
Tue, 30 Jan 2024US$56.8bUS$38.4bUS$1.5b15.4x38.4x1.5x
Thu, 28 Dec 2023US$58.6bUS$38.4bUS$1.5b16.5x39.6x1.5x
Sat, 25 Nov 2023US$55.6bUS$38.4bUS$1.5b16x38.3x1.4x
Mon, 23 Oct 2023US$50.1bUS$37.5bUS$684.8m16.5x73.1x1.3x
Wed, 20 Sep 2023US$52.8bUS$37.5bUS$684.8m18.6x77.1x1.4x
Fri, 18 Aug 2023US$52.9bUS$37.5bUS$684.8m18.3x77.2x1.4x
Sun, 16 Jul 2023US$54.3bUS$38.4bUS$1.5b18.7x36.6x1.4x
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 29.5x202420252026
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 22.0x which is lower than its 3-year average PE of 29.5x.
  • The 3-year average PS ratio of 1.9x 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 36% 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-0.43%
Utilities1.16%
Gas Utilities2.39%
Gas Utilities2.39%
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$177.092.3%
+US$677.7m		15.7%PE22x
UGI UGIUS$35.593.6%
+US$263.7m		-0.1%PE11.9x
SWX Southwest Gas HoldingsUS$91.092.9%
+US$186.7m		19.7%PE27.6x
BIPC Brookfield InfrastructureUS$39.393.1%
+US$145.1m		-4.6%PS1.3x
NFG National Fuel GasUS$79.011.9%
+US$143.5m		-3.9%PE10.9x

Latest News

NFG
US$79.01
National Fuel Gas
7D
1.9%
1Y
-3.9%
NJR
US$57.60
New Jersey Resources
7D
2.5%
1Y
25.9%
UGI
US$35.59
UGI
7D
3.6%
1Y
-0.1%
RGCO
US$24.02
RGC Resources
7D
-1.0%
1Y
4.7%
ATO
US$177.09
Atmos Energy
7D
2.3%
1Y
15.7%
SR
US$79.85
Spire
7D
2.4%
1Y
7.9%
OGS
US$78.23
ONE Gas
7D
2.5%
1Y
7.0%
Analysis Article • Jun 20

ONE Gas (OGS) Stock Could Be 15% Undervalued After Recent Pullback

ONE Gas (OGS) stock has drawn attention after a recent shift in its short term performance, with the share price down about 7% over the past month and roughly 8% over the past 3 months. See our latest analysis for ONE Gas. Stepping back, ONE Gas’s recent share price weakness contrasts with its longer record of positive total shareholder returns. This suggests the latest pullback may reflect a shift in short term sentiment rather than a clear change in the company’s underlying trajectory. If...
SWX
US$91.09
Southwest Gas Holdings
7D
2.9%
1Y
19.7%
Narrative Update • Jun 19

SWX: Planned Network Investment And 2026 Earnings Guidance Will Support Bullish Outlook

Analysts have trimmed their fair value estimate for Southwest Gas Holdings stock from $100.00 to $99.25, reflecting updated assumptions around slightly lower revenue growth, a modestly higher profit margin, and a similar future P/E profile. What’s in the News for Southwest Gas Holdings Southwest Gas Holdings plans to invest US$6.3b from 2026 to 2030 to upgrade and expand its regulated gas distribution and transmission network across Arizona, Nevada, and California, with a focus on its core utility operations.
BIPC
US$39.39
Brookfield Infrastructure
7D
3.1%
1Y
-4.6%