Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Utilities Sector Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies111
  • 7D-1.1%
  • 3M5.8%
  • 1Y21.2%
  • YTD5.2%

Over the last 7 days, the Utilities industry has dropped 1.1%, driven by declines in NRG Energy and Southern of 7.7% and 2.5%, respectively. Meanwhile, Oklo actually outperformed within the industry, gaining 26% in the last week. Over the past 12 months, the industry was up 21%. 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
Wed, 22 Apr 2026US$1.7tUS$568.0bUS$67.5b21.9x24.8x2.9x
Fri, 20 Mar 2026US$1.7tUS$567.9bUS$67.5b21.4x24.8x2.9x
Sun, 15 Feb 2026US$1.7tUS$562.2bUS$67.6b21.8x24.7x3x
Tue, 13 Jan 2026US$1.5tUS$556.5bUS$68.6b19.7x22.4x2.8x
Thu, 11 Dec 2025US$1.5tUS$558.0bUS$68.7b19.5x22.2x2.7x
Sat, 08 Nov 2025US$1.6tUS$558.3bUS$66.6b20.5x24.5x2.9x
Mon, 06 Oct 2025US$1.6tUS$549.9bUS$63.6b21.2x24.9x2.9x
Wed, 03 Sep 2025US$1.5tUS$549.2bUS$63.7b20.3x23.4x2.7x
Fri, 01 Aug 2025US$1.5tUS$543.4bUS$65.7b21.4x22.9x2.8x
Sun, 29 Jun 2025US$1.4tUS$540.3bUS$64.0b20.2x22.4x2.7x
Tue, 27 May 2025US$1.4tUS$540.1bUS$64.0b20.8x22.2x2.6x
Thu, 24 Apr 2025US$1.4tUS$527.2bUS$62.1b21.1x22.1x2.6x
Sat, 22 Mar 2025US$1.4tUS$526.8bUS$63.1b20.6x21.9x2.6x
Mon, 17 Feb 2025US$1.4tUS$525.6bUS$62.0b20.3x22.2x2.6x
Wed, 15 Jan 2025US$1.3tUS$528.1bUS$58.6b19.3x22.5x2.5x
Fri, 13 Dec 2024US$1.4tUS$533.3bUS$61.2b20.3x22.2x2.5x
Sun, 10 Nov 2024US$1.4tUS$533.4bUS$61.3b20.6x22.6x2.6x
Tue, 08 Oct 2024US$1.4tUS$522.9bUS$60.5b19.4x23.3x2.7x
Thu, 05 Sep 2024US$1.3tUS$522.9bUS$60.5b19.7x21.8x2.5x
Sat, 03 Aug 2024US$1.3tUS$521.8bUS$60.6b19.7x21.4x2.5x
Mon, 01 Jul 2024US$1.2tUS$517.6bUS$60.4b18x19.7x2.3x
Wed, 29 May 2024US$1.2tUS$518.1bUS$60.4b17.9x20.6x2.4x
Fri, 26 Apr 2024US$1.2tUS$525.6bUS$57.8b18.8x20.2x2.2x
Sun, 24 Mar 2024US$1.1tUS$528.0bUS$57.4b18.2x19.5x2.1x
Tue, 20 Feb 2024US$1.1tUS$537.1bUS$54.3b18.1x19.8x2x
Thu, 18 Jan 2024US$1.1tUS$543.9bUS$53.5b18.6x20.3x2x
Sat, 16 Dec 2023US$1.1tUS$543.9bUS$53.5b19.2x20.9x2.1x
Mon, 13 Nov 2023US$1.0tUS$545.0bUS$53.3b18.4x19.7x1.9x
Wed, 11 Oct 2023US$1.0tUS$554.7bUS$51.7b18.9x20.1x1.9x
Fri, 08 Sep 2023US$1.1tUS$549.7bUS$50.8b19.6x21.3x2x
Sun, 06 Aug 2023US$1.1tUS$548.4bUS$48.6b20.8x23x2x
Tue, 04 Jul 2023US$1.1tUS$551.7bUS$45.7b20.4x25.1x2.1x
Thu, 01 Jun 2023US$1.1tUS$549.1bUS$46.5b20.1x24.1x2x
Sat, 29 Apr 2023US$1.2tUS$536.1bUS$47.0b21.5x25.4x2.2x
Price to Earnings Ratio

25.4x


Total Market Cap: US$1.2tTotal Earnings: US$47.0bTotal Revenue: US$536.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Utilities Sector Price to Earnings3Y Average 22.3x202420252026
Current Industry PE
  • Investors are optimistic on the American Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 24.8x which is higher than its 3-year average PE of 22.3x.
  • 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 13% 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 Trends

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

US Market3.58%
Utilities-1.10%
Renewable Energy1.27%
Water Utilities0.34%
Other Utilities-1.03%
Gas Utilities-1.42%
Electric Utilities-1.42%
Industry PE
  • Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 20.1x.
    • Analysts are expecting annual earnings growth of 11.2%, which is higher than its past year's earnings growth of 6.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings decline of 44% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings grow by 9.4% 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
OKLO OkloUS$62.616.9%
+US$699.5m		190.8%PB7.4x
RNW ReNew Energy GlobalUS$5.197.5%
+US$131.1m		-19.3%PE14.6x
AWR American States WaterUS$77.832.6%
+US$77.0m		-4.3%PE23.4x
CWT California Water Service GroupUS$46.202.4%
+US$64.0m		-10.0%PE21.6x
HTO H2O AmericaUS$59.302.1%
+US$50.2m		7.4%PE24.2x

Latest News

SO
US$91.92
Southern
7D
-4.2%
1Y
0.07%
AWR
US$77.83
American States Water
7D
2.6%
1Y
-4.3%
RNW
US$5.19
ReNew Energy Global
7D
7.5%
1Y
-19.3%

RNW: Solar Manufacturing Expansion And Asset Recycling Will Support Future Upside Potential

Analysts have trimmed their price target on ReNew Energy Global by about $0.11, reflecting slightly lower fair value and future P/E assumptions while keeping revenue growth and profit margin expectations effectively unchanged. What's in the News Commissioned approximately 2.4 GW of assets in Fiscal year 2026, taking total operating capacity to about 12.6 GW, with gross capacity at roughly 20 GW and a nationwide footprint of more than 150 renewable sites and 3 solar manufacturing facilities across 10 Indian states (Key Developments) Operating commercial and industrial portfolio includes 2.5 GW of committed capacity, with over 2.0 GW already commissioned, alongside a workforce of about 4,500 people across India (Key Developments) Solar manufacturing business includes 6.5 GW of operating solar module capacity and 2.5 GW of operating cell capacity, with an additional 4 GW of cell capacity under expansion targeted by December 2026, and production in Fiscal year 2026 of more than 4.1 GW of modules and almost 1.86 GW of cells (Key Developments) Received a US$100 million equity investment in the solar manufacturing business from British International Investments, focused on supporting the manufacturing platform (Key Developments) Agreed to sell a 100 MW / 117.5 MWp solar project in Tamil Nadu to Technique Solaire Group at an enterprise value of US$49 million.
DUK
US$125.67
Duke Energy
7D
-3.2%
1Y
2.6%

DUK: Data Center Load And New Gas Project Will Shape Balanced Outlook

The analyst price target for Duke Energy has shifted higher, rising about $1.50 to $139.82 as analysts factor in updated assumptions for revenue growth, profit margins and future P/E following a series of recent target revisions across the Street. Analyst Commentary Recent research updates on Duke Energy show a mix of higher price targets and at least one rating downgrade.
ETR
US$111.24
Entergy
7D
-3.7%
1Y
33.6%

ETR: Gulf Coast Regulation And Data Center Plans Will Shape Capital Deployment

Analysts have nudged the base case fair value estimate for Entergy up by $2 to $115.56, reflecting a series of price target increases that cite updated earnings estimates, reaffirmed long term guidance, and higher capital plans across recent research updates. Analyst Commentary Recent Street research around Entergy has been active, with multiple firms revisiting their models and price targets after the latest Q4 reporting cycle and updated guidance from the company.
HTO
US$59.30
H2O America
7D
2.1%
1Y
7.4%
HNRG
US$15.84
Hallador Energy
7D
5.0%
1Y
11.0%
OKLO
US$62.61
Oklo
7D
6.9%
1Y
190.8%
CEG
US$277.73
Constellation Energy
7D
-6.4%
1Y
38.3%

CEG: PJM Reliability Shifts And Contracting Acceleration Will Drive Future Upside

The analyst price target for Constellation Energy has been trimmed by about $15 to reflect updated views on long term earnings visibility and valuation, as analysts weigh slightly lower fair value estimates against revised expectations for revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent research on Constellation Energy reflects a mix of trimmed and increased price targets, with many firms updating models around long term earnings visibility, contracting timelines, and regulatory developments in key power markets.
CWT
US$46.20
California Water Service Group
7D
2.4%
1Y
-10.0%

CWT: Proposed Rate Increases And Higher Dividend Will Support Future Upside

Analysts have kept their $52.00 price target for California Water Service Group unchanged. This reflects consistent assumptions around discount rate, revenue growth, profit margin, and future P/E in their valuation work.
VST
US$154.91
Vistra
7D
-5.5%
1Y
37.5%

VST: Long Term Nuclear Contracts Will Support PJM Demand And Undervalued Upside

Analysts have updated their view on Vistra with a higher fair value estimate, moving from $293.00 to $318.00. They cite recent mixed but generally supportive price target adjustments and ongoing confidence in the company story across several research firms.
MNTK
US$1.40
Montauk Renewables
7D
17.6%
1Y
-36.4%
HE
US$15.44
Hawaiian Electric Industries
7D
1.1%
1Y
47.6%

HE: Litigation Settlement Will Mask Ongoing Overvaluation Risk

Analysts have adjusted their price target on Hawaiian Electric Industries from $12.00 to $13.75, citing updated assumptions for revenue growth, profit margins, and future P/E expectations. What's in the News Hawaiian Electric Industries and Hawaiian Electric Company entered into a Derivative Settlement Agreement to resolve previously disclosed stockholder derivative actions across federal and state courts, including cases in Hawaii and California (company filing).
NRG
US$149.86
NRG Energy
7D
-12.3%
1Y
51.7%
EXC
US$46.27
Exelon
7D
-4.9%
1Y
-2.3%

EXC: Data Center Demand And Capex Plans Will Shape Grid Investment Outcomes

Analysts have lifted the implied fair value for Exelon by about $0.54 to $51.41. This reflects a series of higher Street price targets supported by updated utility sector models, new coverage with positive views, recent Q4 earnings and long term capital spending plans.
D
US$61.09
Dominion Energy
7D
-4.1%
1Y
14.4%

D: Offshore Wind Progress And EPS Outlook Will Support Steady Long-Term Returns

Analysts have slightly raised their fair value estimate for Dominion Energy to $65.81 from $65.63, reflecting updated assumptions related to revenue growth, profit margins, and future P/E expectations. What's in the News Issued 2026 operating earnings guidance of $3.45 to $3.69 per share, with a midpoint of $3.57 per share that includes $0.07 per share of RNG 45Z income (company guidance).