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U.S. Multi-Utilities Industry Analysis

UpdatedApr 28, 2026
DataAggregated Company Financials
Companies15
  • 7D-0.2%
  • 3M4.6%
  • 1Y10.7%
  • 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 11% in that time. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 28 Apr 2026US$400.5bUS$147.5bUS$17.6b21.3x22.8x2.7x
Thu, 26 Mar 2026US$393.4bUS$147.4bUS$17.5b20.5x22.4x2.7x
Sat, 21 Feb 2026US$402.3bUS$146.3bUS$17.5b21.6x23x2.7x
Mon, 19 Jan 2026US$380.4bUS$143.1bUS$17.4b20x21.9x2.7x
Wed, 17 Dec 2025US$368.7bUS$143.1bUS$17.4b19.3x21.2x2.6x
Fri, 14 Nov 2025US$384.8bUS$143.1bUS$17.3b20.1x22.2x2.7x
Sun, 12 Oct 2025US$378.1bUS$138.4bUS$17.1b20.4x22.2x2.7x
Tue, 09 Sep 2025US$359.7bUS$138.4bUS$17.1b19.4x21.1x2.6x
Thu, 07 Aug 2025US$373.2bUS$138.0bUS$17.3b20.4x21.6x2.7x
Sat, 05 Jul 2025US$351.1bUS$135.1bUS$16.8b20.4x20.9x2.6x
Mon, 02 Jun 2025US$357.7bUS$135.1bUS$16.8b20.8x21.3x2.6x
Wed, 30 Apr 2025US$356.2bUS$130.9bUS$15.8b22.2x22.5x2.7x
Fri, 28 Mar 2025US$348.1bUS$130.3bUS$15.9b22x21.9x2.7x
Sun, 23 Feb 2025US$355.8bUS$130.2bUS$16.3b20.6x21.8x2.7x
Tue, 21 Jan 2025US$344.2bUS$128.9bUS$16.3b19.3x21.1x2.7x
Thu, 19 Dec 2024US$336.9bUS$128.9bUS$16.3b18.8x20.7x2.6x
Sat, 16 Nov 2024US$344.1bUS$128.9bUS$16.3b20.3x21.1x2.7x
Mon, 14 Oct 2024US$339.9bUS$128.0bUS$15.7b19.6x21.6x2.7x
Wed, 11 Sep 2024US$335.2bUS$128.0bUS$15.7b19.5x21.3x2.6x
Fri, 09 Aug 2024US$319.2bUS$128.0bUS$15.7b18.7x20.3x2.5x
Sun, 07 Jul 2024US$296.5bUS$126.7bUS$15.7b17.1x18.9x2.3x
Tue, 04 Jun 2024US$309.3bUS$126.7bUS$15.7b17.9x19.7x2.4x
Thu, 02 May 2024US$295.8bUS$130.7bUS$16.7b18.3x17.7x2.3x
Sat, 30 Mar 2024US$293.6bUS$131.6bUS$17.2b17.1x17x2.2x
Mon, 26 Feb 2024US$283.0bUS$132.3bUS$17.3b16.6x16.4x2.1x
Wed, 24 Jan 2024US$275.7bUS$138.1bUS$17.2b16.5x16x2x
Fri, 22 Dec 2023US$283.7bUS$138.1bUS$17.2b16.9x16.5x2.1x
Sun, 19 Nov 2023US$283.1bUS$138.1bUS$17.2b17.2x16.5x2x
Tue, 17 Oct 2023US$272.9bUS$141.3bUS$16.6b17.1x16.4x1.9x
Thu, 14 Sep 2023US$288.2bUS$141.3bUS$16.6b17.7x17.3x2x
Sat, 12 Aug 2023US$291.9bUS$141.3bUS$16.6b18.4x17.6x2.1x
Mon, 10 Jul 2023US$299.2bUS$144.0bUS$14.9b19.9x20.1x2.1x
Wed, 07 Jun 2023US$298.2bUS$144.0bUS$14.9b19.7x20.1x2.1x
Fri, 05 May 2023US$315.4bUS$142.5bUS$13.7b20.6x23x2.2x
Price to Earnings Ratio

23x


Total Market Cap: US$315.4bTotal Earnings: US$13.7bTotal Revenue: US$142.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Multi-Utilities Industry Price to Earnings3Y Average 20.1x202420252026
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 22.8x which is higher than its 3-year average PE of 20.1x.
  • 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 9.6% 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 Market0.72%
Utilities1.08%
Other Utilities-0.24%
Multi-Utilities-0.24%
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$62.500.4%
+US$246.1m		16.3%PE18.5x
NI NiSourceUS$48.220.9%
+US$210.9m		21.4%PE24.9x
AEE AmerenUS$111.910.6%
+US$177.1m		13.2%PE21.3x
DTE DTE EnergyUS$146.500.4%
+US$131.1m		8.0%PE20.9x
CNP CenterPoint EnergyUS$42.890.4%
+US$124.6m		12.2%PE26.2x

Latest News

BKH
US$75.22
Black Hills
7D
-0.5%
1Y
23.7%

BKH: Merger Approval And Higher Margin Outlook Will Support Future Returns

Analysts have lifted the price target on Black Hills to $83.00 from $81.20, citing updated assumptions around fair value, profit margins, and future P/E expectations supported by recent upbeat research and rating changes. Analyst Commentary Bullish Takeaways Bullish analysts have raised price targets in several steps, which signals greater confidence in Black Hills' valuation relative to where the stock has been trading.
AEE
US$111.91
Ameren
7D
0.6%
1Y
13.2%

AEE: Data Center Demand And Dividend Policy Will Shape Future Returns

Ameren's updated analyst price target edges up from about $117 to roughly $120.53, as analysts factor in modestly higher modeled revenue growth and a slightly richer future P/E multiple, while keeping profit margin assumptions broadly stable. Analyst Commentary Recent price target moves around Ameren reflect a mix of optimism and caution, with several firms adjusting their models on valuation, execution and growth assumptions.
NWE
US$72.49
NorthWestern Energy Group
7D
0.2%
1Y
23.3%

NWE: Higher P/E Assumptions And Dividend Step Up Will Shape Risk Reward

Analysts have lifted the fair value estimate for NorthWestern Energy Group from $65.42 to $69.10, as recent price target increases and updated assumptions on revenue growth and future P/E expectations have contributed to a higher overall valuation view. Analyst Commentary Recent Street research has clustered around higher price targets and at least one upgrade, which feeds directly into a higher fair value estimate for NorthWestern Energy Group.
CNP
US$42.89
CenterPoint Energy
7D
0.4%
1Y
12.2%
PEG
US$80.21
Public Service Enterprise Group
7D
-0.7%
1Y
-0.9%
NI
US$48.22
NiSource
7D
0.9%
1Y
21.4%
CMS
US$76.05
CMS Energy
7D
-1.3%
1Y
4.9%
D
US$62.50
Dominion Energy
7D
0.4%
1Y
16.3%

D: Extended EPS Guidance And Modest Fair Value Shift Will Support Steady Returns

Analysts have slightly raised Dominion Energy's implied fair value by about $0.54 per share. This reflects small adjustments to projected revenue growth, profit margins, and future P/E assumptions in their updated price target work.
WEC
US$115.12
WEC Energy Group
7D
-0.02%
1Y
6.1%

WEC: Data Center Capex And Dividend Moves Will Shape Fairly Balanced Outlook

Analysts have raised the average price target for WEC Energy Group by about $1.61 to $124.69, citing recent target increases linked to updated capital plans, data center related load expectations, and reaffirmed earnings guidance as key drivers of the change. Analyst Commentary Recent research updates around WEC Energy Group give you a mix of optimism and caution, with several firms revising price targets and views as they digest the company’s larger capital plan, data center related demand, and updated guidance.
AVA
US$41.05
Avista
7D
-0.5%
1Y
-0.7%

AVA: Environmental Compliance Progress And Dividend Profile Will Support Balanced Outlook

Analysts have revised their price target for Avista to $42.80 from $40.33, citing updated assumptions for revenue growth, profit margin, and future P/E that refine their outlook on the stock's valuation. What’s in the News Federal regulators completed an environmental assessment of Avista’s proposal to rehabilitate the North Channel Dam at the Spokane River Hydroelectric Project, finding that the amendment with environmental measures would not significantly affect the quality of the human environment.
UTL
US$52.40
Unitil
7D
-0.5%
1Y
-10.7%
DTE
US$146.50
DTE Energy
7D
0.4%
1Y
8.0%

DTE: Future Earnings And Dividend Will Be Balanced By Legal Settlement Risk

Analysts now see DTE Energy's fair value at about $158.35 per share, up from roughly $155.04. They cite updated assumptions around revenue growth, profit margins and a modestly higher future P/E multiple.
SRE
US$92.46
Sempra
7D
-1.0%
1Y
22.3%

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

Analysts have nudged their price target for Sempra higher to about $104 from roughly $103, reflecting updated assumptions around slightly different revenue growth, profit margin, and future P/E expectations. What's in the News Sempra issued new full-year 2027 earnings guidance, with EPS expected in a range of $5.10 to $5.70.
ED
US$108.83
Consolidated Edison
7D
-0.8%
1Y
-2.1%