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U.S. Multi-Utilities Industry Analysis

UpdatedJul 07, 2026
DataAggregated Company Financials
Companies16
  • 7D-1.1%
  • 3M0.4%
  • 1Y15.5%
  • YTDn/a

Over the last 7 days, the Multi-Utilities industry has dropped 1.1%, driven by a pullback from Public Service Enterprise Group of 2.0%. In the past year, the industry has gained 16%. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 08 Jul 2026US$415.1bUS$151.6bUS$17.8b21.5x23.3x2.7x
Fri, 05 Jun 2026US$390.4bUS$151.6bUS$17.8b20x21.9x2.6x
Sun, 03 May 2026US$405.6bUS$148.7bUS$17.5b21.4x23.2x2.7x
Tue, 31 Mar 2026US$397.0bUS$147.4bUS$17.5b20.8x22.6x2.7x
Thu, 26 Feb 2026US$405.5bUS$147.0bUS$17.9b21.2x22.7x2.8x
Sat, 24 Jan 2026US$373.3bUS$143.1bUS$17.4b19.6x21.5x2.6x
Mon, 22 Dec 2025US$364.1bUS$143.1bUS$17.4b19.2x21x2.5x
Wed, 19 Nov 2025US$384.3bUS$143.1bUS$17.4b20.1x22.1x2.7x
Fri, 17 Oct 2025US$385.2bUS$138.4bUS$17.1b21.3x22.6x2.8x
Sun, 14 Sep 2025US$365.4bUS$138.4bUS$17.1b20.5x21.4x2.6x
Tue, 12 Aug 2025US$372.5bUS$138.4bUS$17.1b20.6x21.8x2.7x
Thu, 10 Jul 2025US$348.0bUS$135.1bUS$16.8b20.4x20.7x2.6x
Sat, 07 Jun 2025US$351.0bUS$135.1bUS$16.8b20.7x20.9x2.6x
Mon, 05 May 2025US$357.8bUS$134.0bUS$16.4b21.5x21.8x2.7x
Wed, 02 Apr 2025US$355.8bUS$130.3bUS$15.9b22.6x22.4x2.7x
Fri, 28 Feb 2025US$348.9bUS$130.3bUS$16.0b21.6x21.8x2.7x
Sun, 26 Jan 2025US$338.3bUS$128.9bUS$16.3b18.6x20.7x2.6x
Tue, 24 Dec 2024US$336.0bUS$128.9bUS$16.3b19.1x20.6x2.6x
Thu, 21 Nov 2024US$353.4bUS$128.9bUS$16.3b20.4x21.7x2.7x
Sat, 19 Oct 2024US$352.3bUS$128.0bUS$15.7b20.2x22.4x2.8x
Mon, 16 Sep 2024US$339.8bUS$128.0bUS$15.7b19.7x21.6x2.7x
Wed, 14 Aug 2024US$321.9bUS$128.0bUS$15.7b19x20.5x2.5x
Fri, 12 Jul 2024US$299.0bUS$126.7bUS$15.7b18.3x19.1x2.4x
Sun, 09 Jun 2024US$300.0bUS$126.7bUS$15.7b17.5x19.1x2.4x
Tue, 07 May 2024US$301.9bUS$130.1bUS$15.8b18.4x19.1x2.3x
Thu, 04 Apr 2024US$289.5bUS$131.6bUS$17.2b16.9x16.8x2.2x
Sat, 02 Mar 2024US$281.2bUS$131.8bUS$17.2b16.5x16.3x2.1x
Mon, 29 Jan 2024US$276.3bUS$138.1bUS$17.2b16.3x16.1x2x
Wed, 27 Dec 2023US$285.2bUS$138.1bUS$17.2b17.2x16.6x2.1x
Fri, 24 Nov 2023US$282.4bUS$138.1bUS$17.2b17.4x16.4x2x
Sun, 22 Oct 2023US$265.0bUS$141.3bUS$16.6b16.7x15.9x1.9x
Tue, 19 Sep 2023US$291.4bUS$141.3bUS$16.6b18.1x17.5x2.1x
Thu, 17 Aug 2023US$284.9bUS$141.3bUS$16.6b17.9x17.1x2x
Sat, 15 Jul 2023US$305.7bUS$144.0bUS$14.9b20.6x20.6x2.1x
Price to Earnings Ratio

20.6x


Total Market Cap: US$305.7bTotal Earnings: US$14.9bTotal Revenue: US$144.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Multi-Utilities Industry Price to Earnings3Y Average 20.2x202420252026
Current Industry PE
  • Investors are optimistic on the American Multi-Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 23.3x which is higher than its 3-year average PE of 20.2x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Multi-Utilities industry have grown 6.3% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does U.S. Multi-Utilities compare with similar industries?

US Market0.79%
Utilities-1.63%
Other Utilities-1.14%
Multi-Utilities-1.14%
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
D Dominion EnergyUS$69.832.3%
+US$1.4b		24.0%PE21x
SRE SempraUS$94.592.0%
+US$1.2b		27.3%PE32.1x
ED Consolidated EdisonUS$112.992.1%
+US$869.7m		13.8%PE19.3x
AEE AmerenUS$114.431.2%
+US$384.7m		20.5%PE20.8x
PEG Public Service Enterprise GroupUS$81.790.8%
+US$313.9m		0.2%PE18x

Latest News

CNP
US$44.48
CenterPoint Energy
7D
1.0%
1Y
24.2%
DTE
US$153.84
DTE Energy
7D
1.0%
1Y
18.1%
ED
US$112.99
Consolidated Edison
7D
2.1%
1Y
13.8%
NI
US$47.49
NiSource
7D
-0.1%
1Y
21.8%
Seeking Alpha • Jul 04

NiSource: A Premier Play On Data Center Electricity Demand

Summary NiSource (NI) remains a 'buy' as its innovative data center agreements, notably with Amazon, position it for sustained growth and regulatory favor. NI's model isolates data center capex and returns, protecting existing customers from rate hikes while securing guaranteed returns and surcharges to reduce bills. With a $29B five-year capex plan and at least 8% projected EPS growth, NI offers a compelling blend of income and growth. Shares yield 2.5% with expected low double-digit total returns, underpinned by robust capital programs and accelerating data center demand. Read the full article on Seeking Alpha
NWE
US$70.75
NorthWestern Energy Group
7D
-1.2%
1Y
35.8%
WEC
US$117.68
WEC Energy Group
7D
0.8%
1Y
13.5%
Seeking Alpha • Jul 01

WEC Energy Group: Data Centers Make This Utility Growth Story More Attractive

Summary WEC Energy Group (WEC) is rated a buy, driven by a visible earnings growth runway fueled by surging data-center demand. WEC's $37.5 billion regulated capital plan through 2030 supports management's 7%–8% long-term EPS growth target and robust dividend growth. The Very Large Customer tariff structure mitigates risk by shifting project-specific exposure to hyperscale customers, supporting regulatory approval and earnings visibility. Key risks include regulatory outcomes, tariff terms, and financing execution, but the data-center opportunity and capital plan underpin substantial upside potential. Read the full article on Seeking Alpha
AEE
US$114.43
Ameren
7D
1.2%
1Y
20.5%
Seeking Alpha • Jul 01

Ameren: Large-Load Demand Can Support A Higher-Growth Utility Story

Summary Ameren Corporation is rated a buy, driven by robust large-load demand and a strong rate-base growth outlook. AEE's Missouri segment benefits from data center, manufacturing, and electrification trends, supporting incremental investment and earnings growth. Management targets ~11% rate-base CAGR to 2030, supporting EPS growth near the upper end of the 6–8% range. Total return potential approaches 27% by 2030, though regulatory approval, execution, and funding risks remain material. Read the full article on Seeking Alpha
D
US$69.83
Dominion Energy
7D
2.3%
1Y
24.0%
Narrative Update • Jun 25

D: Merger With NextEra And AI Power Demand Will Guide Future Returns

Analysts have slightly raised their price target for Dominion Energy to about $69.33 per share from roughly $69.25, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E that remain broadly consistent with prior estimates. What's in the News NextEra Energy has agreed to acquire Dominion Energy in an all stock transaction valued at about US$66.8b to US$67.4b, creating what is described as the world's largest regulated electric utility.
BKH
US$73.25
Black Hills
7D
-1.5%
1Y
29.8%
Narrative Update • Jun 25

BKH: Merger With NorthWestern And Data Center Projects Are Expected To Support Returns

Analysts have nudged their average fair value estimate for Black Hills slightly higher to about $83 from roughly $83, pointing to a series of recent price target increases that highlight perceived benefits from the pending all stock merger, including greater scale, a stronger balance sheet, broader jurisdictional diversity, and an expanded infrastructure pipeline across data centers, transmission, generation, and gas. Analyst Commentary Recent research around Black Hills centers on how the pending all stock merger could influence valuation, balance sheet strength, and growth opportunities tied to regulated infrastructure projects.
SRE
US$94.59
Sempra
7D
2.0%
1Y
27.3%
Narrative Update • Jun 22

SRE: New Texas Projects And LNG Pipeline Will Support Future Returns

Analysts have trimmed their price target on Sempra slightly, with fair value moving from about $103.62 to $103.50 as updated assumptions for discount rate, revenue growth, profit margin, and future P/E are incorporated into their models. What’s in the News for Sempra Sempra Infrastructure has placed the 72 mile, 42 inch Port Arthur Pipeline Louisiana Connector into service ahead of schedule and under budget, supporting up to 2 billion cubic feet per day of U.S. natural gas transport to the Port Arthur LNG Phase 1 export facility in Texas, according to recent reports.
PEG
US$81.79
Public Service Enterprise Group
7D
0.8%
1Y
0.2%
Analysis Article • Jun 20

Public Service Enterprise Group (PEG) Stock Could Be 10.9% Undervalued After Strong Q1 Results

Public Service Enterprise Group (PEG) is back in focus after strong first quarter results, with management reiterating multi year earnings guidance and outlining substantial regulated capital investments that helped steady sentiment following recent valuation driven downgrades. See our latest analysis for Public Service Enterprise Group. At a latest share price of $79.89, Public Service Enterprise Group has seen a 1-day share price return of 0.62% and a 30-day share price return of 1.80%,...