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U.S. Multi-Utilities Industry Analysis

UpdatedMar 15, 2026
DataAggregated Company Financials
Companies15
  • 7D1.0%
  • 3M9.9%
  • 1Y15.6%
  • YTDn/a

In the last week, the Multi-Utilities industry is up 1.0%, with Sempra up 2.7%. In the last 12 months, the industry was up 16%. 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
Sun, 15 Mar 2026US$408.1bUS$147.4bUS$17.6b21.3x23.2x2.8x
Tue, 10 Feb 2026US$383.0bUS$144.5bUS$17.4b20.3x22x2.6x
Thu, 08 Jan 2026US$366.9bUS$143.1bUS$17.4b19.1x21.1x2.6x
Sat, 06 Dec 2025US$371.3bUS$143.1bUS$17.4b19.1x21.4x2.6x
Mon, 03 Nov 2025US$373.2bUS$140.5bUS$17.2b20.4x21.7x2.7x
Wed, 01 Oct 2025US$376.9bUS$138.4bUS$17.1b21x22.1x2.7x
Fri, 29 Aug 2025US$366.0bUS$138.4bUS$17.1b20x21.4x2.6x
Sun, 27 Jul 2025US$367.1bUS$135.2bUS$16.8b21.5x21.9x2.7x
Tue, 24 Jun 2025US$352.7bUS$135.1bUS$16.8b20.7x21x2.6x
Thu, 22 May 2025US$359.6bUS$135.1bUS$16.8b20.9x21.4x2.7x
Sat, 19 Apr 2025US$352.4bUS$130.3bUS$15.9b22.2x22.2x2.7x
Mon, 17 Mar 2025US$347.1bUS$130.3bUS$15.9b21.9x21.8x2.7x
Wed, 12 Feb 2025US$344.1bUS$129.5bUS$16.7b20.5x20.6x2.7x
Fri, 10 Jan 2025US$333.9bUS$128.9bUS$16.3b18.6x20.5x2.6x
Sun, 08 Dec 2024US$347.6bUS$128.9bUS$16.3b19.8x21.3x2.7x
Tue, 05 Nov 2024US$339.8bUS$128.4bUS$16.5b19.4x20.6x2.6x
Thu, 03 Oct 2024US$346.2bUS$128.0bUS$15.7b20x22x2.7x
Sat, 31 Aug 2024US$329.9bUS$128.0bUS$15.7b19.3x21x2.6x
Mon, 29 Jul 2024US$314.5bUS$126.9bUS$15.8b18.5x19.9x2.5x
Wed, 26 Jun 2024US$301.0bUS$126.7bUS$15.7b17.1x19.2x2.4x
Fri, 24 May 2024US$308.8bUS$126.7bUS$15.7b18x19.7x2.4x
Sun, 21 Apr 2024US$289.7bUS$131.6bUS$17.2b17.1x16.8x2.2x
Tue, 19 Mar 2024US$285.7bUS$131.6bUS$17.2b16.6x16.6x2.2x
Thu, 15 Feb 2024US$271.3bUS$137.4bUS$17.4b15.7x15.6x2x
Sat, 13 Jan 2024US$286.6bUS$138.1bUS$17.2b17.1x16.7x2.1x
Mon, 11 Dec 2023US$286.9bUS$138.1bUS$17.2b17.7x16.7x2.1x
Wed, 08 Nov 2023US$279.6bUS$138.4bUS$17.1b16.5x16.3x2x
Fri, 06 Oct 2023US$262.7bUS$141.3bUS$16.6b16.7x15.8x1.9x
Sun, 03 Sep 2023US$282.4bUS$141.3bUS$16.6b17.7x17x2x
Tue, 01 Aug 2023US$306.5bUS$141.3bUS$15.0b19.3x20.5x2.2x
Thu, 29 Jun 2023US$296.0bUS$144.0bUS$14.9b19.6x19.9x2.1x
Sat, 27 May 2023US$293.2bUS$144.0bUS$14.9b19.5x19.7x2x
Mon, 24 Apr 2023US$319.1bUS$138.1bUS$12.5b21.7x25.4x2.3x
Wed, 22 Mar 2023US$298.8bUS$138.1bUS$12.5b20.4x23.8x2.2x
Price to Earnings Ratio

23.8x


Total Market Cap: US$298.8bTotal Earnings: US$12.5bTotal 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 23.2x 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 2.8x.
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-1.62%
Utilities0.31%
Other Utilities1.02%
Multi-Utilities1.02%
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
SRE SempraUS$95.112.7%
+US$1.6b		35.5%PE34.6x
ED Consolidated EdisonUS$114.882.3%
+US$939.4m		8.0%PE20.5x
WEC WEC Energy GroupUS$117.351.4%
+US$514.3m		9.9%PE24.5x
NI NiSourceUS$47.392.0%
+US$445.0m		20.0%PE24.5x
CNP CenterPoint EnergyUS$44.010.9%
+US$261.7m		24.0%PE27.4x

Latest News

SRE
US$95.11
Sempra
7D
2.7%
1Y
35.5%
CMS
US$77.83
CMS Energy
7D
0.9%
1Y
7.0%

CMS: Future Risk Reward Will Hinge On Michigan Regulation And Data Center Demand

Analysts have slightly raised their average price target on CMS Energy, reflecting a series of recent upward revisions in the $1 to $4 range that they attribute to discussions around regulation in Michigan, data center demand, the capital plan, and longer term growth drivers. Analyst Commentary Recent research updates on CMS Energy point to a modestly higher valuation framework, with several firms adjusting price targets in a tight $1 to $4 band.
NWE
US$68.42
NorthWestern Energy Group
7D
-1.9%
1Y
22.0%
ED
US$114.88
Consolidated Edison
7D
2.3%
1Y
8.0%
AEE
US$112.04
Ameren
7D
0.5%
1Y
13.0%

AEE: Regulatory And Data Center Execution Will Shape Fairly Valued Returns

Ameren's analyst price target has inched higher to $115.69 from $115.38, as analysts fine tune their models with slightly higher revenue growth assumptions, a modestly higher future P/E, and some offset from lower projected profit margins, along with recent Street target increases into the $116 to $127 range. Analyst Commentary Recent Street research on Ameren reflects an active period of target revisions, with several firms adjusting their valuation frameworks around utilities and regulated power names.
WEC
US$117.35
WEC Energy Group
7D
1.4%
1Y
9.9%

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$63.21
Dominion Energy
7D
-0.05%
1Y
15.6%

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.
DTE
US$149.57
DTE Energy
7D
-0.4%
1Y
10.6%

DTE: Future Earnings And Dividend Will Be Balanced By Equity Offering

Analysts have reiterated their $151.50 price target on DTE Energy, citing unchanged assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. This keeps their outlook and valuation framework effectively steady.
BKH
US$72.46
Black Hills
7D
-1.4%
1Y
18.4%

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.
CNP
US$44.01
CenterPoint Energy
7D
0.9%
1Y
24.0%

CNP: Future Returns Will Reflect Load Timing Shifts And Regulatory Execution

Our CenterPoint Energy analyst price target edges up to $44.06 from $43.44 as analysts refine forecasts around steadier margins, updated Q4 earnings commentary and ongoing adjustments to long term growth expectations. Analyst Commentary Recent Street research on CenterPoint Energy clusters around a generally constructive view on growth visibility, balanced by questions around capital intensity and regulatory execution.
NI
US$47.39
NiSource
7D
2.0%
1Y
20.0%

NI: Future Dividend And Refined P/E Assumptions Will Support Balanced Returns

Analysts have nudged their price target for NiSource slightly higher to $48.08 from $47.85, reflecting updated assumptions around revenue growth, profit margins, and future P/E expectations. What's in the News The board of directors declared a quarterly common stock dividend of $0.30 per share for NiSource, scheduled to be paid on February 20, 2026, to shareholders of record as of February 3, 2026 (Key Developments).
PEG
US$83.73
Public Service Enterprise Group
7D
0.5%
1Y
2.7%