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U.S. Utilities Sector Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies114
  • 7D1.5%
  • 3M4.4%
  • 1Y15.4%
  • YTD5.8%

In the last week, the Utilities industry is up 1.5%, with Constellation Energy up 5.6%. This means that the industry has gained 15% over the past year. Looking forward, earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026US$1.6tUS$565.8bUS$69.3b21.6x23.7x2.9x
Mon, 19 Jan 2026US$1.6tUS$556.5bUS$68.6b20.5x22.9x2.8x
Wed, 17 Dec 2025US$1.5tUS$556.5bUS$68.5b19.4x22.3x2.7x
Fri, 14 Nov 2025US$1.6tUS$559.5bUS$68.0b20.4x23.6x2.9x
Sun, 12 Oct 2025US$1.6tUS$549.9bUS$63.6b21.2x25.3x2.9x
Tue, 09 Sep 2025US$1.5tUS$549.2bUS$63.7b20.2x23.2x2.7x
Thu, 07 Aug 2025US$1.5tUS$547.4bUS$62.9b20.8x24.3x2.8x
Sat, 05 Jul 2025US$1.4tUS$540.7bUS$63.8b20.6x22.6x2.7x
Mon, 02 Jun 2025US$1.4tUS$540.1bUS$64.0b20.9x22.4x2.7x
Wed, 30 Apr 2025US$1.4tUS$528.7bUS$62.3b21.1x22.2x2.6x
Fri, 28 Mar 2025US$1.4tUS$526.8bUS$63.5b20.6x21.4x2.6x
Sun, 23 Feb 2025US$1.4tUS$525.9bUS$62.1b20.6x22.5x2.7x
Tue, 21 Jan 2025US$1.4tUS$528.1bUS$58.6b19.9x23.4x2.6x
Thu, 19 Dec 2024US$1.3tUS$532.1bUS$61.1b19.4x21.9x2.5x
Sat, 16 Nov 2024US$1.4tUS$533.5bUS$61.3b20.4x22.3x2.6x
Mon, 14 Oct 2024US$1.4tUS$522.9bUS$60.5b19.6x22.8x2.6x
Wed, 11 Sep 2024US$1.3tUS$522.9bUS$60.5b19.7x22x2.5x
Fri, 09 Aug 2024US$1.3tUS$521.9bUS$61.7b19.1x20.8x2.5x
Sun, 07 Jul 2024US$1.2tUS$517.6bUS$60.4b18x19.8x2.3x
Tue, 04 Jun 2024US$1.3tUS$518.1bUS$60.4b18.3x20.9x2.4x
Thu, 02 May 2024US$1.2tUS$526.3bUS$57.9b18.8x20.2x2.2x
Sat, 30 Mar 2024US$1.2tUS$528.3bUS$57.3b18.5x20.8x2.3x
Mon, 26 Feb 2024US$1.1tUS$533.5bUS$55.2b17.7x19.6x2x
Wed, 24 Jan 2024US$1.1tUS$543.9bUS$53.5b18.2x20x2x
Fri, 22 Dec 2023US$1.1tUS$543.9bUS$53.5b19x20.6x2x
Sun, 19 Nov 2023US$1.1tUS$545.0bUS$53.3b18.8x20.3x2x
Tue, 17 Oct 2023US$1.1tUS$554.7bUS$51.7b19.1x20.4x1.9x
Thu, 14 Sep 2023US$1.1tUS$549.8bUS$50.8b20x21.9x2x
Sat, 12 Aug 2023US$1.1tUS$549.3bUS$49.6b20.9x22.7x2.1x
Mon, 10 Jul 2023US$1.1tUS$551.7bUS$45.7b20.4x24.9x2.1x
Wed, 07 Jun 2023US$1.1tUS$549.1bUS$46.5b20x24.4x2.1x
Fri, 05 May 2023US$1.2tUS$545.0bUS$44.6b21x26.6x2.2x
Sun, 02 Apr 2023US$1.2tUS$532.0bUS$45.1b20.9x26.1x2.2x
Tue, 28 Feb 2023US$1.1tUS$531.2bUS$46.9b20.4x24.4x2.2x
Price to Earnings Ratio

24.4x


Total Market Cap: US$1.1tTotal Earnings: US$46.9bTotal Revenue: US$531.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Utilities Sector Price to Earnings3Y Average 22.4x202420252026
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 22.4x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 14% 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 Market0.64%
Utilities1.54%
Renewable Energy2.81%
Water Utilities1.99%
Electric Utilities1.84%
Other Utilities0.76%
Gas Utilities-0.20%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 75.4x.
    • Analysts are expecting annual earnings growth of 29.4%, which is higher than its past year's earnings decline of 3.5% per year.
  • Investors are most pessimistic about the Water Utilities industry, which is trading below its 3-year average of 25.4x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings decline of 3.5% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings grow by 8.6% 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$294.842.2%
+US$2.3b		3.7%PE39x
NRG NRG EnergyUS$179.184.0%
+US$1.5b		69.1%PE28x
SO SouthernUS$94.30-0.7%
US$1.0b		6.7%PE24.3x
EIX Edison InternationalUS$73.743.2%
+US$877.6m		41.3%PE6.4x
POR Portland General ElectricUS$52.44-2.9%
US$482.1m		18.2%PE21.4x

Latest News

CNP
US$43.00
CenterPoint Energy
7D
1.1%
1Y
25.4%
ETR
US$104.02
Entergy
7D
-1.0%
1Y
22.2%
SO
US$94.30
Southern
7D
-0.7%
1Y
6.7%
ED
US$109.81
Consolidated Edison
7D
-3.4%
1Y
11.8%
EVRG
US$80.26
Evergy
7D
-2.9%
1Y
17.9%
PCG
US$18.36
PG&E
7D
1.1%
1Y
14.8%
EIX
US$73.74
Edison International
7D
3.2%
1Y
41.3%
AWK
US$129.37
American Water Works Company
7D
-3.1%
1Y
-2.5%
POR
US$52.44
Portland General Electric
7D
-2.9%
1Y
18.2%
NEE
US$92.18
NextEra Energy
7D
-1.7%
1Y
28.8%
CEG
US$294.84
Constellation Energy
7D
2.2%
1Y
3.7%

CEG: Nuclear Fleet And Calpine Data Center Deals Will Define Balanced Outlook

Narrative Update Overview The analyst price target for Constellation Energy has shifted by $32.98, as analysts balance Wells Fargo's $18 target cut with TD Cowen's new $440 target. The new target highlights both elevated regulatory risk and potential upside from the Calpine integration and gas PPA deals tied to the nuclear fleet.
EXC
US$47.79
Exelon
7D
-1.4%
1Y
10.1%

Exelon's (NASDAQ:EXC) Shareholders Will Receive A Bigger Dividend Than Last Year

Feb 16
Exelon's (NASDAQ:EXC) Shareholders Will Receive A Bigger Dividend Than Last Year
DUK
US$126.78
Duke Energy
7D
-1.1%
1Y
9.7%
SRE
US$93.55
Sempra
7D
-1.3%
1Y
7.4%
ATO
US$180.97
Atmos Energy
7D
1.0%
1Y
20.7%

ATO: Future Share Authorization And Governance Changes Will Shape Steady Earnings Outlook

Analysts have slightly trimmed their price target on Atmos Energy to about US$176.82 from roughly US$177.55, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Affirmed fiscal 2026 earnings guidance in a range of US$8.15 to US$8.35 per diluted share, giving investors a reference point for the company’s medium term earnings plans (Corporate Guidance).
NRG
US$179.18
NRG Energy
7D
4.0%
1Y
69.1%

NRG: Future Earnings Power From LS Power Assets May Reprice Shares

Analysts have modestly lifted their fair value estimate for NRG Energy to about $313, even as recent price target tweaks from firms like Jefferies, Wells Fargo and Morgan Stanley reflect ongoing debate over growth, margins and an updated future P/E near 24x. Analyst Commentary Recent Street research around NRG Energy highlights a mix of caution and optimism, with several bullish analysts focusing on where execution and valuation may still offer room for upside relative to their fair value work and updated P/E assumptions.