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U.S. Utilities Sector Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies116
  • 7D0.4%
  • 3M-0.6%
  • 1Y10.0%
  • YTD2.9%

Last week, the Utilities industry hasn't moved much but Constellation Energy is up 5.0% in that time. As for the the longer term, the industry is up 10% over the past 12 months. As for the next few years, earnings are expected to grow by 13% per annum.

Sector Valuation and Performance

Has the U.S. Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026US$1.6tUS$587.1bUS$69.1b21.3x23.5x2.8x
Thu, 21 May 2026US$1.6tUS$597.7bUS$70.2b21.3x23x2.7x
Sat, 18 Apr 2026US$1.7tUS$568.0bUS$67.5b21.9x24.9x3x
Mon, 16 Mar 2026US$1.7tUS$567.9bUS$67.6b21.8x24.9x3x
Wed, 11 Feb 2026US$1.6tUS$560.9bUS$67.7b20.9x23.2x2.8x
Fri, 09 Jan 2026US$1.5tUS$556.5bUS$68.6b19.6x21.8x2.7x
Sun, 07 Dec 2025US$1.5tUS$558.0bUS$68.7b19.7x22.4x2.8x
Tue, 04 Nov 2025US$1.6tUS$556.4bUS$65.1b21.2x24.4x2.9x
Thu, 02 Oct 2025US$1.6tUS$549.9bUS$63.6b21x24.5x2.8x
Sat, 30 Aug 2025US$1.5tUS$549.2bUS$63.7b20.6x23.5x2.7x
Mon, 28 Jul 2025US$1.5tUS$541.4bUS$64.2b21.6x23.2x2.8x
Wed, 25 Jun 2025US$1.4tUS$540.2bUS$64.0b20.6x22.5x2.7x
Fri, 23 May 2025US$1.4tUS$540.1bUS$64.0b20.7x22.2x2.6x
Sun, 20 Apr 2025US$1.4tUS$526.6bUS$63.6b20.8x21.5x2.6x
Tue, 18 Mar 2025US$1.4tUS$526.8bUS$63.1b20.5x21.8x2.6x
Thu, 13 Feb 2025US$1.4tUS$524.3bUS$61.9b20.5x22.3x2.6x
Sat, 11 Jan 2025US$1.3tUS$528.1bUS$58.6b19.2x22.6x2.5x
Mon, 09 Dec 2024US$1.4tUS$533.3bUS$61.2b20.7x22.8x2.6x
Wed, 06 Nov 2024US$1.4tUS$530.4bUS$63.3b20x21.4x2.6x
Fri, 04 Oct 2024US$1.4tUS$522.9bUS$60.5b19.8x23.4x2.7x
Sun, 01 Sep 2024US$1.3tUS$522.9bUS$60.5b19.5x21.9x2.5x
Tue, 30 Jul 2024US$1.3tUS$518.2bUS$59.8b19.4x20.9x2.4x
Thu, 27 Jun 2024US$1.2tUS$517.6bUS$60.4b17.9x20x2.3x
Sat, 25 May 2024US$1.2tUS$518.1bUS$60.4b18.1x20.4x2.4x
Mon, 22 Apr 2024US$1.1tUS$528.1bUS$57.4b18.7x19.9x2.2x
Wed, 20 Mar 2024US$1.1tUS$527.9bUS$57.4b18.2x19.5x2.1x
Fri, 16 Feb 2024US$1.1tUS$539.1bUS$53.2b18.2x19.9x2x
Sun, 14 Jan 2024US$1.1tUS$543.9bUS$53.5b19x20.8x2x
Tue, 12 Dec 2023US$1.1tUS$543.9bUS$53.5b19.1x20.7x2x
Thu, 09 Nov 2023US$1.1tUS$545.4bUS$53.1b18.6x20.1x2x
Sat, 07 Oct 2023US$1.0tUS$554.7bUS$51.7b18.7x19.7x1.8x
Mon, 04 Sep 2023US$1.1tUS$549.7bUS$50.8b19.7x21.4x2x
Wed, 02 Aug 2023US$1.2tUS$550.6bUS$46.9b20.9x24.7x2.1x
Fri, 30 Jun 2023US$1.1tUS$551.9bUS$45.7b20x24.7x2x
Price to Earnings Ratio

24.7x


Total Market Cap: US$1.1tTotal Earnings: US$45.7bTotal Revenue: US$551.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Utilities Sector Price to Earnings3Y Average 22.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the American 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 22.2x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 15% per year over the last three years.
  • Revenues for these companies have grown 2.1% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Utilities sector?

US Market-1.82%
Utilities0.45%
Renewable Energy5.53%
Electric Utilities0.40%
Other Utilities-0.46%
Gas Utilities-1.05%
Water Utilities-1.43%
Industry PE
  • Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 20.2x.
    • Analysts are expecting annual earnings growth of 12.4%, which is higher than its past year's earnings growth of 10.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings decline of 8.3% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings grow by 9.8% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CEG Constellation EnergyUS$275.535.0%
+US$4.7b		-12.6%PE26x
VST VistraUS$167.269.0%
+US$4.6b		-10.3%PE27.5x
TLN Talen EnergyUS$438.1213.4%
+US$2.4b		50.3%PS6.1x
NRG NRG EnergyUS$138.916.5%
+US$1.8b		-8.6%PE170.4x
AEP American Electric Power CompanyUS$130.300.8%
+US$538.7m		26.1%PE19.4x

Latest News

AWK
US$124.92
American Water Works Company
7D
-1.5%
1Y
-13.2%
CEG
US$275.53
Constellation Energy
7D
5.0%
1Y
-12.6%
AEP
US$130.30
American Electric Power Company
7D
0.8%
1Y
26.1%
OKLO
US$58.40
Oklo
7D
-3.9%
1Y
6.0%
Seeking Alpha • Jun 22

Oklo: A High-Risk Nuclear Play With Optionality Hard To Find Elsewhere

Summary Oklo is a high-risk, pre-revenue nuclear innovator best suited for a speculative sleeve, with unique optionality in the energy sector. Despite a steep pullback and negative cash flow, OKLO’s narrative has strengthened due to regulatory tailwinds, customer momentum, and a near-term catalyst. Key positives include a differentiated modular reactor design, de-risked fuel supply, and deep-pocketed AI hyperscaler customers like Meta Platforms. I recommend holding or selectively buying weakness, but only with small position sizing and patience for binary, multi-year outcomes. Read the full article on Seeking Alpha
DUK
US$123.52
Duke Energy
7D
-1.4%
1Y
5.6%
Narrative Update • Jun 22

DUK: Data Center Pipeline And Nuclear Lifecycle Will Drive Future Power Demand

Duke Energy's analyst price targets have been trimmed by a few dollars to around the mid $130s, as analysts factor in regulatory uncertainty around coal retirements and data center pushback, while still referencing execution, scale, and a sizable data center pipeline in their updated views. Analyst Commentary Recent research on Duke Energy reflects a mixed but generally constructive tone, with analysts adjusting price targets into a tighter band while weighing regulatory risk against execution on large growth projects like data centers and potential nuclear development.
NRG
US$138.91
NRG Energy
7D
6.5%
1Y
-8.6%
Analysis Article • Jun 20

NRG Energy (NRG) Stock Could Be 33.2% Undervalued on Its Electricity Demand Narrative

NRG Energy (NRG) has drawn fresh attention after recent share price moves, with the stock up 2.2% on the day and 7.6% over the past week, despite weaker returns over the past month and the past three months. See our latest analysis for NRG Energy. Stepping back from the latest bounce, NRG Energy’s share price has seen momentum cool over recent months, with the stock down over the year to date, even though the 3 year and 5 year total shareholder returns are very large. If this kind of...
FE
US$46.76
FirstEnergy
7D
-1.2%
1Y
16.0%
VST
US$167.26
Vistra
7D
9.0%
1Y
-10.3%
ES
US$70.12
Eversource Energy
7D
1.2%
1Y
10.7%
Narrative Update • Jun 18

ES: Earnings Strength And Regulatory Risks Will Likely Keep Fair Value Steady

The analyst price target for Eversource Energy has been revised slightly. Updated assumptions on fair value, discount rate, revenue growth, profit margin, and future P/E have prompted a modest adjustment that analysts reflect in a new target close to $72 per share.
TLN
US$438.12
Talen Energy
7D
13.4%
1Y
50.3%
Narrative Update • Jun 18

TLN: Refinancing And Gas Acquisitions With Nuclear Plans Guide A Measured Outlook

Analysts have nudged the Talen Energy price target higher, citing refreshed models that reflect updated revenue growth, profit margin and P/E assumptions, along with a series of recent Street target increases to $411 and $499. Analyst Commentary Recent Street research on Talen Energy has featured multiple price target revisions, giving you a mixed picture of how analysts are thinking about the stock.
SO
US$93.43
Southern
7D
-0.4%
1Y
3.0%
Narrative Update • Jun 17

SO: Future Dividend Strength Will Reflect Data Center Power And Nuclear Progress

Analysts have maintained their price target on Southern at $101.34. This reflects unchanged views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions following the latest review.
ETR
US$112.20
Entergy
7D
1.0%
1Y
35.8%
Narrative Update • Jun 16

ETR: Data Center Load And Fair Share Plus Will Shape Future EPS

The updated analyst price target for Entergy edges slightly lower, reflecting modest model adjustments to fair value and profit margin assumptions, even as analysts highlight steady long term EPS frameworks, large load opportunities, and detailed capital plans shared at recent investor events. Analyst Commentary Recent research on Entergy highlights a mix of optimism around long term growth plans and load opportunities, alongside more conservative views tied to valuation, market multiples, and execution risk.
XEL
US$78.81
Xcel Energy
7D
-0.7%
1Y
16.1%
Narrative Update • Jun 16

XEL: Data Center Agreements And Grid Expansion Will Support Future Returns

Analysts have trimmed Xcel Energy's price targets by a few dollars to a range centered in the low $90s. This reflects updated sector models and recent relative underperformance of utilities versus the broader S&P, while still indicating a broadly supportive view on the stock's role in power and data center related growth.
ORA
US$129.55
Ormat Technologies
7D
-6.6%
1Y
49.6%
PPL
US$35.59
PPL
7D
-1.6%
1Y
3.8%
Narrative Update • Jun 08

PPL: Pennsylvania Settlement And 2026 Earnings Path Will Drive Future Upside

PPL's analyst price target edges slightly lower, with the average fair value estimate moving from about $41.53 to $41.20 as analysts fine tune their models following recent regulatory outcomes in Pennsylvania and modest adjustments to growth and margin assumptions. Analyst Commentary Research houses are generally fine tuning their PPL views around recent Pennsylvania regulatory decisions and sector moves, rather than making wholesale changes to their fundamental stance.
BEPC
US$37.94
Brookfield Renewable
7D
3.6%
1Y
18.4%