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U.S. Multi-Utilities Industry Analysis

UpdatedAug 12, 2026
DataAggregated Company Financials
Companies16
  • 7D-2.0%
  • 3M-1.9%
  • 1Y2.6%
  • YTDn/a

Over the last 7 days, the Multi-Utilities industry has dropped 3.1%, driven by NiSource declining 5.7%. As for the longer term, the industry's performance has been flat for the past year. Looking forward, earnings are forecast to grow by 5.1% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 12 Aug 2026US$383.1bUS$153.8bUS$17.6b21.5x21.7x2.5x
Fri, 10 Jul 2026US$412.6bUS$151.6bUS$17.8b21.1x23.1x2.7x
Sun, 07 Jun 2026US$399.5bUS$151.6bUS$17.8b20.3x22.4x2.6x
Tue, 05 May 2026US$405.6bUS$148.7bUS$17.5b21.3x23.2x2.7x
Thu, 02 Apr 2026US$402.5bUS$147.4bUS$17.5b21x22.9x2.7x
Sat, 28 Feb 2026US$406.6bUS$147.4bUS$17.6b21.5x23.1x2.8x
Mon, 26 Jan 2026US$372.2bUS$143.1bUS$17.4b19.6x21.5x2.6x
Wed, 24 Dec 2025US$365.0bUS$143.1bUS$17.4b19.3x21x2.6x
Fri, 21 Nov 2025US$377.5bUS$143.1bUS$17.4b19.9x21.8x2.6x
Sun, 19 Oct 2025US$382.5bUS$138.4bUS$17.1b21.4x22.4x2.8x
Tue, 16 Sep 2025US$365.4bUS$138.4bUS$17.1b20.4x21.4x2.6x
Thu, 14 Aug 2025US$371.5bUS$138.4bUS$17.1b20.8x21.8x2.7x
Sat, 12 Jul 2025US$349.9bUS$135.1bUS$16.8b20.7x20.8x2.6x
Mon, 09 Jun 2025US$352.1bUS$135.1bUS$16.8b20.7x21x2.6x
Wed, 07 May 2025US$356.5bUS$134.4bUS$16.5b21.4x21.5x2.7x
Fri, 04 Apr 2025US$358.3bUS$130.3bUS$15.9b22.6x22.6x2.7x
Sun, 02 Mar 2025US$349.7bUS$130.3bUS$16.0b22x21.9x2.7x
Tue, 28 Jan 2025US$338.5bUS$128.9bUS$16.3b18.8x20.8x2.6x
Thu, 26 Dec 2024US$338.5bUS$128.9bUS$16.3b19.3x20.8x2.6x
Sat, 23 Nov 2024US$359.3bUS$128.9bUS$16.3b20.7x22x2.8x
Mon, 21 Oct 2024US$353.7bUS$128.0bUS$15.7b20.2x22.5x2.8x
Wed, 18 Sep 2024US$342.2bUS$128.0bUS$15.7b19.8x21.8x2.7x
Fri, 16 Aug 2024US$323.0bUS$128.0bUS$15.7b18.9x20.5x2.5x
Sun, 14 Jul 2024US$307.5bUS$126.7bUS$15.7b18.4x19.6x2.4x
Tue, 11 Jun 2024US$300.6bUS$126.7bUS$15.7b17.7x19.2x2.4x
Thu, 09 May 2024US$305.2bUS$126.8bUS$15.7b18.7x19.5x2.4x
Sat, 06 Apr 2024US$288.6bUS$131.6bUS$17.2b16.8x16.8x2.2x
Mon, 04 Mar 2024US$278.4bUS$131.6bUS$17.2b16.5x16.1x2.1x
Wed, 31 Jan 2024US$278.2bUS$138.1bUS$17.2b16.6x16.2x2x
Fri, 29 Dec 2023US$285.4bUS$138.1bUS$17.2b17.2x16.6x2.1x
Sun, 26 Nov 2023US$285.3bUS$138.1bUS$17.2b17.5x16.6x2.1x
Tue, 24 Oct 2023US$262.7bUS$141.3bUS$16.6b16.5x15.8x1.9x
Thu, 21 Sep 2023US$289.9bUS$141.3bUS$16.6b17.8x17.4x2.1x
Sat, 19 Aug 2023US$284.5bUS$141.3bUS$16.6b17.8x17.1x2x
Price to Earnings Ratio

17.1x


Total Market Cap: US$284.5bTotal Earnings: US$16.6bTotal Revenue: US$141.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Multi-Utilities Industry Price to Earnings3Y Average 20.3x202420252026
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 20.3x.
  • 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 remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 2.9% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Comparison

How does U.S. Multi-Utilities compare with similar industries?

US Market0.091%
Utilities-0.78%
Other Utilities-1.96%
Multi-Utilities-1.96%
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
BKH Black HillsUS$73.261.4%
+US$86.8m		20.1%PE18.7x
NWE NorthWestern Energy GroupUS$70.651.1%
+US$48.6m		26.9%PE25.4x
UTL UnitilUS$53.770.3%
+US$2.9m		5.8%PE17.5x

Latest News

CNP
US$40.18
CenterPoint Energy
7D
-3.4%
1Y
4.4%
Seeking Alpha • Aug 10

CenterPoint Energy: Not Exciting After The Pullback

Summary CenterPoint Energy is capitalizing on Houston's rapid population, industrial, and data-center-driven electricity demand, supporting a $66.7B capital plan. CNP targets 7-9% non-GAAP EPS growth through 2035, but recent capital plan expansions require ongoing external financing and may introduce dilution risk. Shares trade at a 21.3x forward multiple, reflecting much of the growth story; dividend yield is below peers, and valuation offers limited margin of safety. I rate CNP a Hold, preferring either a lower entry point or clearer evidence of large-load pipeline conversion to contracted, rate-base-producing assets. Read the full article on Seeking Alpha
NWE
US$70.65
NorthWestern Energy Group
7D
1.1%
1Y
26.9%
NI
US$42.01
NiSource
7D
-5.7%
1Y
-0.8%
Narrative Update • Aug 07

NI: Approved Data Center Agreements Will Drive Future Returns And Customer Savings

Analysts have trimmed their price target for NiSource to $50.03 from $51.36. Updated models factor in a slightly higher discount rate, adjusted long term revenue growth and profit margin assumptions, and a lower future P/E multiple.
SRE
US$85.48
Sempra
7D
-1.4%
1Y
4.1%
WEC
US$106.68
WEC Energy Group
7D
-2.4%
1Y
-2.5%
BKH
US$73.26
Black Hills
7D
1.4%
1Y
20.1%
UTL
US$53.77
Unitil
7D
0.3%
1Y
5.8%
Analysis Article • Aug 07

Unitil Corporation Just Beat Revenue By 5.0%: Here's What Analysts Think Will Happen Next

Last week saw the newest quarterly earnings release from Unitil Corporation ( NYSE:UTL ), an important milestone in the...
PEG
US$75.21
Public Service Enterprise Group
7D
-1.4%
1Y
-14.4%
Narrative Update • Aug 05

PEG: Data Center Demand And New Jersey Reforms Will Drive Upside

For Public Service Enterprise Group, the updated analyst price target framework now points to an implied value of about $87 per share, a reduction of roughly $2 from the prior estimate of about $90. Analysts are factoring in recent target cuts tied to New Jersey regulatory headwinds, modestly adjusted earnings expectations and slightly lower future P/E assumptions, partly offset by firmer revenue growth forecasts.
D
US$68.10
Dominion Energy
7D
-1.6%
1Y
11.1%
CMS
US$69.62
CMS Energy
7D
-2.9%
1Y
-4.4%
DTE
US$137.64
DTE Energy
7D
-2.9%
1Y
-1.6%