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U.S. Multi-Utilities Industry Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies15
  • 7D-0.5%
  • 3M8.9%
  • 1Y17.7%
  • YTDn/a

Over the last 7 days, the Multi-Utilities industry has remained flat. The past year has been better, since the industry has gained 18% in that time. 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
Fri, 06 Mar 2026US$408.6bUS$147.4bUS$17.6b21.2x23.2x2.8x
Sun, 01 Feb 2026US$379.2bUS$144.0bUS$17.5b19.8x21.7x2.6x
Tue, 30 Dec 2025US$368.9bUS$143.1bUS$17.4b19.4x21.3x2.6x
Thu, 27 Nov 2025US$382.0bUS$143.1bUS$17.4b20.5x22x2.7x
Sat, 25 Oct 2025US$381.7bUS$138.5bUS$17.2b20.9x22.2x2.8x
Mon, 22 Sep 2025US$361.9bUS$138.4bUS$17.1b20.3x21.2x2.6x
Wed, 20 Aug 2025US$363.5bUS$138.4bUS$17.1b20.5x21.3x2.6x
Fri, 18 Jul 2025US$352.9bUS$135.1bUS$16.8b20.8x21x2.6x
Sun, 15 Jun 2025US$351.1bUS$135.1bUS$16.8b20.6x20.9x2.6x
Tue, 13 May 2025US$354.8bUS$135.1bUS$16.8b20.6x21.1x2.6x
Thu, 10 Apr 2025US$329.7bUS$130.3bUS$15.9b21.4x20.8x2.5x
Sat, 08 Mar 2025US$337.8bUS$130.3bUS$15.9b21.9x21.2x2.6x
Mon, 03 Feb 2025US$339.7bUS$129.4bUS$16.5b19x20.6x2.6x
Wed, 01 Jan 2025US$336.1bUS$128.9bUS$16.3b19.2x20.6x2.6x
Fri, 29 Nov 2024US$364.3bUS$128.9bUS$16.3b20.6x22.3x2.8x
Sun, 27 Oct 2024US$348.6bUS$128.0bUS$15.9b19.7x22x2.7x
Tue, 24 Sep 2024US$340.9bUS$128.0bUS$15.7b19.8x21.7x2.7x
Thu, 22 Aug 2024US$326.3bUS$128.0bUS$15.7b19.1x20.8x2.5x
Sat, 20 Jul 2024US$307.8bUS$126.7bUS$15.7b19x19.6x2.4x
Mon, 17 Jun 2024US$297.9bUS$126.7bUS$15.7b17.4x19x2.4x
Wed, 15 May 2024US$310.1bUS$126.7bUS$15.7b18.5x19.8x2.4x
Fri, 12 Apr 2024US$285.5bUS$131.6bUS$17.2b16.7x16.6x2.2x
Sun, 10 Mar 2024US$289.0bUS$131.6bUS$17.2b16.9x16.8x2.2x
Tue, 06 Feb 2024US$274.9bUS$138.7bUS$17.2b16.2x16x2x
Thu, 04 Jan 2024US$292.6bUS$138.1bUS$17.2b17.5x17x2.1x
Sat, 02 Dec 2023US$281.5bUS$138.1bUS$17.2b17.7x16.4x2x
Mon, 30 Oct 2023US$265.5bUS$140.9bUS$16.7b16.9x15.9x1.9x
Wed, 27 Sep 2023US$276.0bUS$141.3bUS$16.6b17.1x16.6x2x
Fri, 25 Aug 2023US$285.0bUS$141.3bUS$16.6b17.6x17.1x2x
Sun, 23 Jul 2023US$312.1bUS$144.0bUS$14.9b21x21x2.2x
Tue, 20 Jun 2023US$304.6bUS$144.0bUS$14.9b20.3x20.5x2.1x
Thu, 18 May 2023US$302.6bUS$144.0bUS$14.9b20.2x20.4x2.1x
Sat, 15 Apr 2023US$316.9bUS$138.1bUS$12.5b21.6x25.3x2.3x
Mon, 13 Mar 2023US$291.8bUS$138.1bUS$12.6b19.8x23.2x2.1x
Price to Earnings Ratio

23.2x


Total Market Cap: US$291.8bTotal 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 23.2x 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-1.24%
Utilities-0.97%
Other Utilities-0.53%
Multi-Utilities-0.53%
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
DTE DTE EnergyUS$148.641.4%
+US$426.0m		13.9%PE21.2x
CNP CenterPoint EnergyUS$43.400.9%
+US$254.6m		29.9%PE26.9x
NI NiSourceUS$47.040.7%
+US$162.7m		21.9%PE24.3x
WEC WEC Energy GroupUS$116.090.3%
+US$97.7m		11.8%PE24.3x
CMS CMS EnergyUS$77.200.2%
+US$46.0m		7.8%PE22.3x

Latest News

AEE
US$111.41
Ameren
7D
-0.6%
1Y
14.7%
PEG
US$83.92
Public Service Enterprise Group
7D
-2.2%
1Y
7.3%
SRE
US$93.94
Sempra
7D
-1.3%
1Y
34.9%
WEC
US$116.09
WEC Energy Group
7D
0.3%
1Y
11.8%
CMS
US$77.20
CMS Energy
7D
0.2%
1Y
7.8%

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.
ED
US$110.71
Consolidated Edison
7D
-0.05%
1Y
9.7%
CNP
US$43.40
CenterPoint Energy
7D
0.9%
1Y
29.9%
D
US$63.00
Dominion Energy
7D
-0.6%
1Y
17.3%
NWE
US$70.34
NorthWestern Energy Group
7D
0.7%
1Y
27.8%

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

NorthWestern Energy Group's fair value estimate has been adjusted to $63.40 from $62.60, as analysts factor in updated assumptions on growth, margins, and future P/E, following recent shifts in price targets at major firms, including raises from BMO Capital and Barclays, alongside a downgrade from Wells Fargo. Analyst Commentary Recent Street research on NorthWestern Energy Group reflects a mix of optimism and caution around execution, growth expectations, and how the stock is valued against its updated fair value estimate of $63.40.
DTE
US$148.64
DTE Energy
7D
1.4%
1Y
13.9%

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

Analysts have adjusted their price target on DTE Energy to $151.50 from $147.35. The change reflects updated views on fair value, revenue growth assumptions, profit margins and future P/E expectations.
BKH
US$74.29
Black Hills
7D
0.6%
1Y
25.0%

BKH: Dividend Growth And Project Execution Will Support Balanced Future Return Potential

Analysts have lifted their Black Hills price target by $2, citing updated expectations for revenue growth and profit margins, along with a slightly lower assumed future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts point to updated revenue expectations as support for a slightly higher intrinsic value, even with a more conservative assumed P/E multiple.
UTL
US$53.00
Unitil
7D
2.9%
1Y
-2.9%

UTL: Higher Dividend And Refined Assumptions Will Shape A Steady Outlook

Analysts have adjusted their Unitil price target from $55 to $56, reflecting updated assumptions for revenue growth, profit margins, and a slightly lower future P/E multiple in their models. What's in the News The Board of Directors approved a quarterly common stock dividend of $0.475 per share, an increase of $0.025 per share from the prior rate, bringing the annualized dividend to $1.90 per share (Key Developments).
NI
US$47.04
NiSource
7D
0.7%
1Y
21.9%

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

Analysts have raised their price target on NiSource slightly to about $47.85 from $46.75, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News The board of directors declared a quarterly common stock dividend of $0.30 per share for NiSource.