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U.S. Multi-Utilities Industry Analysis

UpdatedJul 02, 2026
DataAggregated Company Financials
Companies16
  • 7D-1.0%
  • 3M-1.0%
  • 1Y14.3%
  • YTDn/a

Over the last 7 days, the Multi-Utilities industry has dropped 1.0%, driven by a pullback from Dominion Energy of 2.1%. Over the past 12 months, the industry was up 14%. 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
Fri, 03 Jul 2026US$409.4bUS$151.6bUS$17.8b21.4x22.9x2.7x
Sun, 31 May 2026US$395.5bUS$151.6bUS$17.8b20.4x22.2x2.6x
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
Price to Earnings Ratio

20.1x


Total Market Cap: US$299.2bTotal 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 22.9x 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 Market1.64%
Utilities-2.01%
Other Utilities-1.02%
Multi-Utilities-1.02%
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
ED Consolidated EdisonUS$113.992.9%
+US$1.2b		13.6%PE19.5x
WEC WEC Energy GroupUS$118.831.5%
+US$573.3m		13.9%PE23.6x
DTE DTE EnergyUS$154.060.8%
+US$260.0m		16.8%PE25.4x
CNP CenterPoint EnergyUS$44.610.9%
+US$255.1m		24.1%PE27.2x
D Dominion EnergyUS$69.750.3%
+US$211.1m		22.7%PE21x

Latest News

NWE
US$71.32
NorthWestern Energy Group
7D
-0.2%
1Y
35.9%
WEC
US$118.83
WEC Energy Group
7D
1.5%
1Y
13.9%
Seeking Alpha • Jul 01

WEC Energy Group: Data Centers Make This Utility Growth Story More Attractive

Summary WEC Energy Group (WEC) is rated a buy, driven by a visible earnings growth runway fueled by surging data-center demand. WEC's $37.5 billion regulated capital plan through 2030 supports management's 7%–8% long-term EPS growth target and robust dividend growth. The Very Large Customer tariff structure mitigates risk by shifting project-specific exposure to hyperscale customers, supporting regulatory approval and earnings visibility. Key risks include regulatory outcomes, tariff terms, and financing execution, but the data-center opportunity and capital plan underpin substantial upside potential. Read the full article on Seeking Alpha
AEE
US$115.02
Ameren
7D
0.4%
1Y
19.8%
Seeking Alpha • Jul 01

Ameren: Large-Load Demand Can Support A Higher-Growth Utility Story

Summary Ameren Corporation is rated a buy, driven by robust large-load demand and a strong rate-base growth outlook. AEE's Missouri segment benefits from data center, manufacturing, and electrification trends, supporting incremental investment and earnings growth. Management targets ~11% rate-base CAGR to 2030, supporting EPS growth near the upper end of the 6–8% range. Total return potential approaches 27% by 2030, though regulatory approval, execution, and funding risks remain material. Read the full article on Seeking Alpha
DTE
US$154.06
DTE Energy
7D
0.8%
1Y
16.8%
CNP
US$44.61
CenterPoint Energy
7D
0.9%
1Y
24.1%
Narrative Update • Jun 25

CNP: Future Returns Will Balance Data Center Demand And Regulatory Execution Risks

CenterPoint Energy's analyst price target has been adjusted slightly higher to about $46.13 from $46, as analysts factor in updated sector-wide utility models, modest changes to revenue growth and profit margin assumptions, and mixed price target revisions across recent research. Analyst Commentary Recent research on CenterPoint Energy reflects a mix of optimism around growth opportunities and caution around valuation and relative performance, which helps explain the modest adjustment in the consensus price target.
D
US$69.75
Dominion Energy
7D
0.3%
1Y
22.7%
Narrative Update • Jun 25

D: Merger With NextEra And AI Power Demand Will Guide Future Returns

Analysts have slightly raised their price target for Dominion Energy to about $69.33 per share from roughly $69.25, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E that remain broadly consistent with prior estimates. What's in the News NextEra Energy has agreed to acquire Dominion Energy in an all stock transaction valued at about US$66.8b to US$67.4b, creating what is described as the world's largest regulated electric utility.
BKH
US$73.79
Black Hills
7D
-0.7%
1Y
29.7%
Narrative Update • Jun 25

BKH: Merger With NorthWestern And Data Center Projects Are Expected To Support Returns

Analysts have nudged their average fair value estimate for Black Hills slightly higher to about $83 from roughly $83, pointing to a series of recent price target increases that highlight perceived benefits from the pending all stock merger, including greater scale, a stronger balance sheet, broader jurisdictional diversity, and an expanded infrastructure pipeline across data centers, transmission, generation, and gas. Analyst Commentary Recent research around Black Hills centers on how the pending all stock merger could influence valuation, balance sheet strength, and growth opportunities tied to regulated infrastructure projects.
SRE
US$93.06
Sempra
7D
-0.4%
1Y
23.9%
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.
PEG
US$81.62
Public Service Enterprise Group
7D
-1.2%
1Y
0.6%
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%,...
ED
US$113.99
Consolidated Edison
7D
2.9%
1Y
13.6%
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...
CMS
US$77.73
CMS Energy
7D
0.8%
1Y
10.3%
AVA
US$41.40
Avista
7D
1.1%
1Y
7.9%
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...