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U.S. Multi-Utilities Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies15
  • 7D-0.5%
  • 3M1.9%
  • 1Y12.3%
  • 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 12% in that time. Looking forward, earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026US$400.5bUS$151.6bUS$17.8b20.8x22.4x2.6x
Thu, 21 May 2026US$399.5bUS$151.6bUS$17.8b20.5x22.4x2.6x
Sat, 18 Apr 2026US$405.6bUS$147.4bUS$17.5b21.4x23.1x2.8x
Mon, 16 Mar 2026US$408.1bUS$147.4bUS$17.6b21.3x23.2x2.8x
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
Price to Earnings Ratio

19.9x


Total Market Cap: US$296.3bTotal Earnings: US$14.9bTotal Revenue: US$144.0bTotal 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 22.4x which is higher than its 3-year average PE of 20.2x.
  • The industry is trading close to its 3-year average PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Multi-Utilities industry have grown 6.3% 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 Market-1.82%
Utilities0.45%
Other Utilities-0.46%
Multi-Utilities-0.46%
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
PEG Public Service Enterprise GroupUS$80.610.6%
+US$229.2m		-3.3%PE17.8x
NI NiSourceUS$47.630.3%
+US$76.7m		17.6%PE23.7x
CMS CMS EnergyUS$73.800.2%
+US$46.3m		5.6%PE20.8x
AEE AmerenUS$109.700.1%
+US$36.0m		14.3%PE19.9x
CNP CenterPoint EnergyUS$43.120.1%
+US$32.7m		18.9%PE26.3x

Latest News

NWE
US$69.96
NorthWestern Energy Group
7D
-1.1%
1Y
35.2%
SRE
US$91.62
Sempra
7D
-0.3%
1Y
20.9%
Narrative Update • Jun 22

SRE: New Texas Projects And LNG Pipeline Will Support Future Returns

Analysts have trimmed their price target on Sempra slightly, with fair value moving from about $103.62 to $103.50 as updated assumptions for discount rate, revenue growth, profit margin, and future P/E are incorporated into their models. What’s in the News for Sempra Sempra Infrastructure has placed the 72 mile, 42 inch Port Arthur Pipeline Louisiana Connector into service ahead of schedule and under budget, supporting up to 2 billion cubic feet per day of U.S. natural gas transport to the Port Arthur LNG Phase 1 export facility in Texas, according to recent reports.
BKH
US$72.92
Black Hills
7D
-1.2%
1Y
27.9%
Seeking Alpha • Jun 22

Unlocking Growth Through A Merger: Black Hills Corporation

Summary Black Hills Corporation is reaffirmed as a Buy, trading at a 12% discount to a $82 fair value estimate. The merger with NorthWestern Energy is on track for 2026, enhancing BKH’s growth profile and asset footprint. BKH projects robust adjusted EPS growth of 6.3% annually, supported by secular demand drivers and a $4.7B capex plan. Dividend safety is strong, with a 3.9% yield, a 56-year growth streak, and a payout ratio in the mid-60% range. Read the full article on Seeking Alpha
DTE
US$146.83
DTE Energy
7D
-0.8%
1Y
9.5%
NI
US$47.63
NiSource
7D
0.3%
1Y
17.6%
Analysis Article • Jun 21

NiSource (NI) Stock Could Be 8% Undervalued on Its Regulated Growth Narrative

Why NiSource Is Drawing Fresh Attention NiSource (NI) is back on investor radars after recent trading moves, with the stock last closing at $47.26. The company’s regulated utility profile, returns and earnings trends are prompting closer review. See our latest analysis for NiSource. Recent trading has been relatively steady, with a modest 1-day share price return of 1.05% and a 90-day share price return of 3.94%. NiSource’s 1-year total shareholder return of 22.78% and 5-year total...
PEG
US$80.61
Public Service Enterprise Group
7D
0.6%
1Y
-3.3%
Analysis Article • Jun 20

Public Service Enterprise Group (PEG) Stock Could Be 10.9% Undervalued After Strong Q1 Results

Public Service Enterprise Group (PEG) is back in focus after strong first quarter results, with management reiterating multi year earnings guidance and outlining substantial regulated capital investments that helped steady sentiment following recent valuation driven downgrades. See our latest analysis for Public Service Enterprise Group. At a latest share price of $79.89, Public Service Enterprise Group has seen a 1-day share price return of 0.62% and a 30-day share price return of 1.80%,...
AEE
US$109.70
Ameren
7D
0.1%
1Y
14.3%
Analysis Article • Jun 19

Ameren (AEE) Stock Could Be 9.3% Undervalued After Dividend Growth Optimism

Ameren (AEE) has come into focus after recent commentary emphasized its dividend profile, including a relatively high yield and a five-year pattern of dividend increases. See our latest analysis for Ameren. Ameren’s share price has been relatively steady around $108.67 in the short term. The stock has gained 7.74% on a year to date share price basis and delivered a 54.86% total shareholder return over five years. This performance suggests interest has been building as investors focus on its...
ED
US$106.92
Consolidated Edison
7D
-0.7%
1Y
5.7%
Analysis Article • Jun 19

Consolidated Edison (ED) Stock Looks Fairly Valued After South Bronx Electric Bus Win

Consolidated Edison (ED) is in focus after helping energize New York State’s largest fleet of electric school buses in the South Bronx. This development highlights its role in transportation electrification infrastructure. See our latest analysis for Consolidated Edison. At a share price of $106.36, Consolidated Edison has seen its short term share price drift, with the 30 day share price return down 1.65%. However, the 1 year total shareholder return of 9.10% and 5 year total shareholder...
WEC
US$113.04
WEC Energy Group
7D
-0.8%
1Y
7.1%
Analysis Article • Jun 19

WEC Energy Group (WEC) Stock Could Be 9.7% Undervalued After Wisconsin Tariff Approval

Regulatory approval reshapes growth outlook for WEC Energy Group stock WEC Energy Group (WEC) is back in focus after Wisconsin regulators approved its Very Large Customer tariff, a move that directly targets new electric loads of 100 megawatts or more. This tariff is designed to let WEC Energy Group serve large industrial and data center style customers with clearer cost recovery and reduced project risk. It ties directly into the company’s planned US$37.5b capital program for 2026 to...
CMS
US$73.80
CMS Energy
7D
0.2%
1Y
5.6%
AVA
US$39.71
Avista
7D
-3.1%
1Y
4.0%
Analysis Article • Jun 16

Avista (AVA) Stock Could Be 4.3% Undervalued After Data Center Pause

Avista (AVA) recently paused new large data center energy requests, including talks on a prospective 500 MW project in Washington, after community concerns about its potential impact and the need for broader stakeholder alignment. See our latest analysis for Avista. The pause on data center requests has coincided with a 3.42% decline in Avista's 1 day share price return to $40.98 and a softer 7 day share price return of 2.43%. However, its year to date share price return of 5.84% and 1 year...
D
US$68.04
Dominion Energy
7D
-0.2%
1Y
21.8%
CNP
US$43.12
CenterPoint Energy
7D
0.1%
1Y
18.9%
Narrative Update • Jun 05

CNP: Future Returns Will Reflect Weather Resilience Efforts And Execution Risks

Analysts have trimmed the CenterPoint Energy fair value estimate slightly, with the target moving from $46.13 to $46.00. This reflects updated sector-wide utilities assumptions and refreshed views on long term growth, margins, and P/E levels after a mix of recent price target cuts and increases across the Street.