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U.S. Multi-Utilities Industry Analysis

UpdatedMar 11, 2026
DataAggregated Company Financials
Companies15
  • 7D-1.2%
  • 3M9.6%
  • 1Y15.5%
  • YTDn/a

In the last week, Multi-Utilities has been flat. As for the the longer term, the industry is up 15% over the past 12 months. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Mar 2026US$403.8bUS$147.4bUS$17.6b21x23x2.7x
Fri, 06 Feb 2026US$382.7bUS$144.0bUS$17.5b20.5x21.9x2.7x
Sun, 04 Jan 2026US$370.8bUS$143.1bUS$17.4b19.4x21.4x2.6x
Tue, 02 Dec 2025US$388.1bUS$143.1bUS$17.4b19.9x22.4x2.7x
Thu, 30 Oct 2025US$378.3bUS$138.5bUS$17.2b20.2x22x2.7x
Sat, 27 Sep 2025US$367.2bUS$138.4bUS$17.1b20.7x21.5x2.7x
Mon, 25 Aug 2025US$370.1bUS$138.4bUS$17.1b20.7x21.7x2.7x
Wed, 23 Jul 2025US$361.4bUS$135.1bUS$16.8b21.6x21.5x2.7x
Fri, 20 Jun 2025US$346.6bUS$135.1bUS$16.8b20.3x20.6x2.6x
Sun, 18 May 2025US$355.8bUS$135.1bUS$16.8b20.9x21.2x2.6x
Tue, 15 Apr 2025US$344.3bUS$130.3bUS$15.9b22.1x21.7x2.6x
Thu, 13 Mar 2025US$341.6bUS$130.3bUS$15.9b21.4x21.5x2.6x
Sat, 08 Feb 2025US$342.0bUS$129.5bUS$16.7b20.1x20.4x2.6x
Mon, 06 Jan 2025US$337.6bUS$128.9bUS$16.3b19.2x20.7x2.6x
Wed, 04 Dec 2024US$355.5bUS$128.9bUS$16.3b20.3x21.8x2.8x
Fri, 01 Nov 2024US$345.4bUS$128.0bUS$15.8b19.8x21.8x2.7x
Sun, 29 Sep 2024US$343.9bUS$128.0bUS$15.7b19.8x21.9x2.7x
Tue, 27 Aug 2024US$329.8bUS$128.0bUS$15.7b19.2x21x2.6x
Thu, 25 Jul 2024US$307.5bUS$126.7bUS$15.7b19.3x19.6x2.4x
Sat, 22 Jun 2024US$297.7bUS$126.7bUS$15.7b17.3x19x2.4x
Mon, 20 May 2024US$312.7bUS$126.7bUS$15.7b18.7x19.9x2.5x
Wed, 17 Apr 2024US$280.8bUS$131.6bUS$17.2b16.3x16.3x2.1x
Fri, 15 Mar 2024US$286.5bUS$131.6bUS$17.2b16.5x16.6x2.2x
Sun, 11 Feb 2024US$273.8bUS$137.4bUS$17.4b15.7x15.7x2x
Tue, 09 Jan 2024US$293.3bUS$138.1bUS$17.2b17.7x17.1x2.1x
Thu, 07 Dec 2023US$287.5bUS$138.1bUS$17.2b17.9x16.7x2.1x
Sat, 04 Nov 2023US$279.6bUS$138.4bUS$17.1b16.7x16.3x2x
Mon, 02 Oct 2023US$269.5bUS$141.3bUS$16.6b16.6x16.2x1.9x
Wed, 30 Aug 2023US$288.9bUS$141.3bUS$16.6b17.8x17.4x2x
Fri, 28 Jul 2023US$313.0bUS$143.9bUS$14.8b21.1x21.1x2.2x
Sun, 25 Jun 2023US$295.8bUS$144.0bUS$14.9b19.5x19.9x2.1x
Tue, 23 May 2023US$301.7bUS$144.0bUS$14.9b20.1x20.3x2.1x
Thu, 20 Apr 2023US$318.3bUS$138.1bUS$12.5b21.7x25.4x2.3x
Sat, 18 Mar 2023US$303.2bUS$138.1bUS$12.6b20.7x24.1x2.2x
Price to Earnings Ratio

24.1x


Total Market Cap: US$303.2bTotal Earnings: US$12.6bTotal Revenue: US$138.1bTotal 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 23.0x which is higher than its 3-year average PE of 20.2x.
  • The 3-year average PS ratio of 2.4x 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 12% per year over the last three years.
  • Revenues for these companies have grown 2.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

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

US Market-0.62%
Utilities-1.31%
Other Utilities-1.24%
Multi-Utilities-1.24%
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$62.730.08%
+US$43.9m		13.8%PE18.6x
UTL UnitilUS$52.280.4%
+US$4.1m		-5.8%PE18.8x

Latest News

ED
US$111.30
Consolidated Edison
7D
-0.9%
1Y
7.3%
WEC
US$114.50
WEC Energy Group
7D
-1.4%
1Y
8.3%

WEC: Data Center Capex And Dividend Growth Will Shape Future Premium Profile

The analyst price target for WEC Energy Group has edged higher to $122.26. This reflects modest model changes and analyst focus on recent price target revisions tied to solid quarterly results, reaffirmed guidance, and updated capital plans linked to data center demand.
D
US$62.73
Dominion Energy
7D
0.08%
1Y
13.8%

D: Offshore Wind Ruling And Earnings Outlook Will Support Steady Long-Term Returns

Analysts have adjusted their price target for Dominion Energy to $65.25 from $64.06, reflecting updated assumptions for fair value, revenue growth, profit margin, and future P/E. Their outlook remains broadly consistent while expectations are fine tuned.
BKH
US$71.22
Black Hills
7D
-4.1%
1Y
18.1%

BKH: Dividend Increases And Project Completion Will Support Steady Future Return Profile

Analysts have increased their price targets on Black Hills by $2, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E that remain broadly consistent with prior estimates. Analyst Commentary Recent Street research points to modest upward revisions in fair value estimates for Black Hills, with price targets adjusted by US$2.
SRE
US$92.97
Sempra
7D
-2.5%
1Y
35.2%

SRE: Long Term EPS Guidance And Dividend Policy Will Support Future Returns

Analysts have raised their price target on Sempra by about $1, reflecting updated assumptions around fair value, profit margins and future P/E, which they view as slightly more supportive for the stock. What's in the News Sempra issued full year 2027 earnings guidance, targeting EPS in a range of $5.10 to $5.70.
NWE
US$67.83
NorthWestern Energy Group
7D
-4.2%
1Y
22.7%
UTL
US$52.28
Unitil
7D
0.4%
1Y
-5.8%

UTL: Higher Dividend And Stable Forecasts Will Support A Steady Outlook

Analysts have maintained their price target for Unitil at $56.00, reflecting unchanged views on fair value, discount rate, and core forecast inputs such as revenue growth, profit margin, and future P/E assumptions. What's in the News Unitil Corporation's Board of Directors raised the quarterly dividend on the company’s common stock to $0.475 per share, an increase of $0.025 per share.
AEE
US$110.39
Ameren
7D
-1.4%
1Y
12.8%
PEG
US$83.27
Public Service Enterprise Group
7D
-0.8%
1Y
6.0%
CMS
US$76.43
CMS Energy
7D
-1.8%
1Y
6.0%

CMS: Future Risk Reward Will Hinge On Earnings Execution And Dividend Policy

The analyst price target for CMS Energy in our framework has moved slightly higher to about $78.85 from $78.08, reflecting a series of updated Street targets around $79 to $80 as analysts factor in recent sector revisions, as well as their views on upcoming earnings and data center exposure. Analyst Commentary Street research on CMS Energy has centered on a cluster of target revisions in a relatively tight US$74 to US$80 range, as firms refresh their views ahead of upcoming earnings and reassess the sector.