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U.S. Multi-Utilities Industry Analysis

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies15
  • 7D2.2%
  • 3M1.4%
  • 1Y10.7%
  • YTDn/a

The Multi-Utilities industry is up 1.9% in the last week, with Dominion Energy up 3.9%. This takes the industry's 12 month performance to a gain of 9.4%. As for the next few years, earnings are expected to grow by 10% 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 Feb 2026US$383.2bUS$144.6bUS$17.4b20.7x22.1x2.7x
Fri, 09 Jan 2026US$362.1bUS$143.1bUS$17.4b19.1x20.9x2.5x
Sun, 07 Dec 2025US$369.1bUS$143.1bUS$17.4b19.1x21.3x2.6x
Tue, 04 Nov 2025US$373.2bUS$141.0bUS$17.3b20.1x21.5x2.6x
Thu, 02 Oct 2025US$378.3bUS$138.4bUS$17.1b20.8x22.2x2.7x
Sat, 30 Aug 2025US$362.5bUS$138.4bUS$17.1b20.2x21.2x2.6x
Mon, 28 Jul 2025US$367.1bUS$135.2bUS$16.8b21.5x21.9x2.7x
Wed, 25 Jun 2025US$352.7bUS$135.1bUS$16.8b20.6x21x2.6x
Fri, 23 May 2025US$353.9bUS$135.1bUS$16.8b20.5x21.1x2.6x
Sun, 20 Apr 2025US$352.4bUS$130.3bUS$15.9b22.2x22.2x2.7x
Tue, 18 Mar 2025US$347.1bUS$130.3bUS$15.9b22x21.8x2.7x
Thu, 13 Feb 2025US$346.2bUS$129.5bUS$16.4b20.5x21.1x2.7x
Sat, 11 Jan 2025US$333.9bUS$128.9bUS$16.3b18.4x20.5x2.6x
Mon, 09 Dec 2024US$347.6bUS$128.9bUS$16.3b19.8x21.3x2.7x
Wed, 06 Nov 2024US$335.3bUS$128.3bUS$16.5b19.7x20.3x2.6x
Fri, 04 Oct 2024US$347.7bUS$128.0bUS$15.7b19.9x22.1x2.7x
Sun, 01 Sep 2024US$331.0bUS$128.0bUS$15.7b19.3x21.1x2.6x
Tue, 30 Jul 2024US$314.5bUS$126.9bUS$15.8b18.5x19.9x2.5x
Thu, 27 Jun 2024US$296.1bUS$126.7bUS$15.7b17.2x18.9x2.3x
Sat, 25 May 2024US$302.8bUS$126.7bUS$15.7b18.1x19.3x2.4x
Mon, 22 Apr 2024US$289.7bUS$131.6bUS$17.2b17.1x16.8x2.2x
Wed, 20 Mar 2024US$286.8bUS$131.6bUS$17.2b16.7x16.6x2.2x
Fri, 16 Feb 2024US$272.8bUS$137.4bUS$17.4b16.1x15.7x2x
Sun, 14 Jan 2024US$286.6bUS$138.1bUS$17.2b17.1x16.7x2.1x
Tue, 12 Dec 2023US$289.3bUS$138.1bUS$17.2b17.8x16.8x2.1x
Thu, 09 Nov 2023US$277.4bUS$138.4bUS$17.1b16.4x16.2x2x
Sat, 07 Oct 2023US$265.1bUS$141.3bUS$16.6b16.9x15.9x1.9x
Mon, 04 Sep 2023US$282.4bUS$141.3bUS$16.6b17.7x17x2x
Wed, 02 Aug 2023US$302.6bUS$141.3bUS$15.0b19.1x20.2x2.1x
Fri, 30 Jun 2023US$296.3bUS$144.0bUS$14.9b19.6x19.9x2.1x
Sun, 28 May 2023US$293.2bUS$144.0bUS$14.9b19.5x19.7x2x
Tue, 25 Apr 2023US$320.5bUS$138.1bUS$12.5b21.9x25.6x2.3x
Thu, 23 Mar 2023US$293.2bUS$138.1bUS$12.5b20x23.4x2.1x
Sat, 18 Feb 2023US$312.4bUS$138.5bUS$12.5b21x25.1x2.3x
Price to Earnings Ratio

25.1x


Total Market Cap: US$312.4bTotal Earnings: US$12.5bTotal Revenue: US$138.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Multi-Utilities Industry Price to Earnings3Y Average 20.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Multi-Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 20.2x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Multi-Utilities industry have grown 12% 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 Market0.99%
Utilities1.90%
Other Utilities2.20%
Multi-Utilities2.20%
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$63.793.8%
+US$2.0b		14.5%PE20.9x
SRE SempraUS$89.703.1%
+US$1.8b		7.5%PE27.8x
PEG Public Service Enterprise GroupUS$83.202.0%
+US$818.6m		-0.7%PE19.9x
CMS CMS EnergyUS$73.752.7%
+US$593.4m		6.2%PE21.2x
CNP CenterPoint EnergyUS$40.971.9%
+US$509.2m		26.4%PE25.8x

Latest News

AVA
US$41.51
Avista
7D
-1.8%
1Y
11.5%
AEE
US$105.78
Ameren
7D
1.7%
1Y
7.7%

AEE: Regulatory Outcomes And Dividend Policy Will Shape Future Returns

Analysts have made a modest upward revision to their Ameren price targets, with our fair value estimate edging to about $112 from $111 as they factor in slightly higher expected profit margins, a small adjustment to revenue growth assumptions, and recent mixed target changes from major firms. Analyst Commentary Recent Street research on Ameren has been mixed, with some price targets raised and others trimmed.
SRE
US$89.70
Sempra
7D
3.1%
1Y
7.5%
NWE
US$68.35
NorthWestern Energy Group
7D
-1.4%
1Y
25.0%

NWE: Mixed Rating Shifts And Meeting Plans Will Shape Forward Outlook

Analysts have made a modest upward adjustment to their price target for NorthWestern Energy Group, tying the move, which includes at least one US$1 increase, to mixed recent research that combines a higher target from some firms with a more cautious stance from others. Analyst Commentary Recent research on NorthWestern Energy Group sends a mixed signal, with one firm lifting its price target by US$1 while another adopts a more cautious stance and downgrades the shares.
DTE
US$137.84
DTE Energy
7D
1.6%
1Y
10.4%

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

Analysts now see DTE Energy’s fair value as broadly unchanged at about $147.35 per share versus $147.50 previously. The minor adjustment is tied to refreshed views on revenue growth, profit margin, and future P/E assumptions.
D
US$63.79
Dominion Energy
7D
3.8%
1Y
14.5%

D: Offshore Wind Court Win And Stable Outlook Will Support Measured Returns

Analysts have nudged their fair value estimate for Dominion Energy slightly higher, from $63.44 to $63.50. This reflects updated views on discount rate, revenue growth, profit margin and future P/E assumptions, even without new published Street research behind the change.
CMS
US$73.75
CMS Energy
7D
2.7%
1Y
6.2%
BKH
US$72.40
Black Hills
7D
-2.2%
1Y
20.6%

BKH: Dividend Increase And Wyoming Project Completion Will Support Future Upside Potential

Analysts have lifted their fair value estimate for Black Hills from $75.75 to $80.50, pointing to updated assumptions around discount rates, revenue growth, profit margins, and future P/E as key drivers behind the higher price target. Analyst Commentary Bullish Takeaways Bullish analysts view the higher fair value estimate of $80.50 as better aligned with their updated discount rate assumptions, suggesting the shares may be more fairly priced against the company’s perceived risk profile.
CNP
US$40.97
CenterPoint Energy
7D
1.9%
1Y
26.4%

CNP: Future Returns Will Reflect AI Power Demand And Regulatory Stability

Analysts have inched their price expectations for CenterPoint Energy higher, with the average target moving from about US$42.31 to US$42.50. They cite recent target increases and an upgraded rating that highlight perceived growth visibility and relatively lower regulatory and political risk.
NI
US$44.73
NiSource
7D
1.8%
1Y
16.4%

NI: Future Dividend Profile And P/E Assumptions Will Support Balanced Return Potential

Analysts have increased their price target for NiSource slightly to US$46.75 from about US$46.27, citing 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 US$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$83.20
Public Service Enterprise Group
7D
2.0%
1Y
-0.7%