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U.S. Utilities Sector Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies114
  • 7D1.1%
  • 3M-3.6%
  • 1Y14.6%
  • YTD0.6%

Over the last 7 days, the Utilities industry has risen 1.1%, driven by gains from NextEra Energy of 4.4%. This takes the industry's 12 month performance to a gain of 15%. Earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Jan 2026US$1.5tUS$556.5bUS$68.6b20.7x22.6x2.8x
Fri, 26 Dec 2025US$1.5tUS$556.5bUS$68.5b19.5x22.3x2.7x
Sun, 23 Nov 2025US$1.6tUS$558.0bUS$68.7b20.4x22.7x2.8x
Tue, 21 Oct 2025US$1.6tUS$549.9bUS$63.6b21.7x25.7x3x
Thu, 18 Sep 2025US$1.5tUS$549.9bUS$63.6b20.3x23.4x2.7x
Sat, 16 Aug 2025US$1.5tUS$549.2bUS$63.7b20.5x23.8x2.8x
Mon, 14 Jul 2025US$1.5tUS$540.7bUS$63.8b20.8x22.8x2.7x
Wed, 11 Jun 2025US$1.4tUS$539.3bUS$64.4b20.7x22x2.6x
Fri, 09 May 2025US$1.4tUS$538.4bUS$64.0b20.8x22.2x2.6x
Sun, 06 Apr 2025US$1.3tUS$526.8bUS$63.6b19.9x20.6x2.5x
Tue, 04 Mar 2025US$1.4tUS$526.8bUS$63.1b20.2x21.8x2.6x
Thu, 30 Jan 2025US$1.3tUS$526.7bUS$58.7b19.9x22.7x2.5x
Sat, 28 Dec 2024US$1.3tUS$523.4bUS$60.0b20x22.1x2.5x
Mon, 25 Nov 2024US$1.4tUS$533.3bUS$61.6b21.5x23.1x2.7x
Wed, 23 Oct 2024US$1.4tUS$522.9bUS$60.5b19.9x23.5x2.7x
Fri, 20 Sep 2024US$1.4tUS$522.9bUS$60.5b19.8x22.5x2.6x
Sun, 18 Aug 2024US$1.3tUS$522.9bUS$60.6b19.4x21.4x2.5x
Tue, 16 Jul 2024US$1.2tUS$517.6bUS$60.4b18.7x20.6x2.4x
Thu, 13 Jun 2024US$1.2tUS$518.0bUS$60.4b17.9x20.2x2.4x
Sat, 11 May 2024US$1.2tUS$518.4bUS$60.2b18.7x20.7x2.4x
Mon, 08 Apr 2024US$1.1tUS$528.1bUS$57.4b18.4x19.9x2.2x
Wed, 06 Mar 2024US$1.1tUS$526.2bUS$57.9b17.5x18.8x2.1x
Fri, 02 Feb 2024US$1.1tUS$542.6bUS$54.4b18.6x20.3x2x
Sun, 31 Dec 2023US$1.1tUS$543.9bUS$53.5b19.4x20.9x2.1x
Tue, 28 Nov 2023US$1.1tUS$543.9bUS$53.5b18.9x20.3x2x
Thu, 26 Oct 2023US$1.0tUS$549.8bUS$50.8b18.9x20.2x1.9x
Sat, 23 Sep 2023US$1.1tUS$549.8bUS$50.8b19.7x21.7x2x
Mon, 21 Aug 2023US$1.1tUS$549.3bUS$49.6b20.1x22.2x2x
Wed, 19 Jul 2023US$1.1tUS$551.7bUS$45.7b20.7x25x2.1x
Fri, 16 Jun 2023US$1.1tUS$551.4bUS$46.6b20.7x24.7x2.1x
Sun, 14 May 2023US$1.2tUS$549.0bUS$46.6b21.1x25.6x2.2x
Tue, 11 Apr 2023US$1.2tUS$531.9bUS$45.0b21.7x26.9x2.3x
Thu, 09 Mar 2023US$1.1tUS$532.0bUS$45.0b20x25.4x2.1x
Sat, 04 Feb 2023US$1.2tUS$534.2bUS$49.7b21.3x23.7x2.2x
Price to Earnings Ratio

23.7x


Total Market Cap: US$1.2tTotal Earnings: US$49.7bTotal Revenue: US$534.2bTotal 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 2.8x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 11% 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 Market2.04%
Utilities1.09%
Renewable Energy4.45%
Gas Utilities1.84%
Electric Utilities0.93%
Other Utilities0.58%
Water Utilities-0.48%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 58.1x.
    • Analysts are expecting annual earnings growth of 21.6%, which is higher than its past year's earnings decline of 3.5% per year.
  • Investors are most pessimistic about the Gas Utilities industry, which is trading below its 3-year average of 30.5x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 22% 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 8.7% 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
NEE NextEra EnergyUS$87.154.4%
+US$7.6b		23.5%PE27.9x
VST VistraUS$164.264.8%
+US$2.5b		9.8%PE58x
NRG NRG EnergyUS$156.044.8%
+US$1.4b		54.7%PE21.8x
EIX Edison InternationalUS$62.634.5%
+US$1.0b		11.6%PE8.2x
ETR EntergyUS$96.581.9%
+US$827.7m		24.4%PE24.1x

Latest News

NRG
US$156.04
NRG Energy
7D
4.8%
1Y
54.7%
PCG
US$15.17
PG&E
7D
-0.5%
1Y
-4.9%

PCG: Cost Of Capital Decision Will Shape Future Earnings Power

Narrative Update Analysts have nudged their PG&E price target higher by about US$1 to roughly US$21.27. They cite updated assumptions for revenue growth, profit margins and future P/E following recent regulatory commentary on California utilities and cost of capital.
EIX
US$62.63
Edison International
7D
4.5%
1Y
11.6%

EIX: Future Capital Plan And Dividend Policy Will Drive Returns

Analysts have nudged their price targets on Edison International slightly lower by about $1 per share. This reflects a blend of updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E, following mixed recent research that includes both a downgrade and a separate target increase.
EXC
US$44.83
Exelon
7D
-0.3%
1Y
12.6%

EXC: Regulatory Certainty Through 2027 And Wires Profile Will Support Upside

The analyst price target on Exelon has been reduced by about $0.20 per share as analysts made modest adjustments to fair value, revenue growth, profit margin and future P/E assumptions based on the latest mix of price target changes and Sector Perform commentary. Analyst Commentary Recent research has been mixed, with some bullish analysts lifting targets and others trimming them, which lines up with the modest overall reduction in the average price target.
UGI
US$39.97
UGI
7D
7.6%
1Y
31.4%

UGI: Ongoing Share Buybacks Will Support Future Upside Potential

Analysts have modestly adjusted their price target on UGI to reflect small updates to the discount rate and future P/E assumptions, keeping fair value essentially unchanged at about US$44.00 per share. What's in the News From July 1, 2025 to September 30, 2025, UGI repurchased 500,000 shares for US$16.53 million, representing 0.23% of its shares under the existing buyback program (Key Developments).
NEE
US$87.15
NextEra Energy
7D
4.4%
1Y
23.5%

NEE: Nuclear Restart Optimism Will Likely Outrun Real Earnings Upside

Analysts lifted their fair value estimate for NextEra Energy from about $60 to roughly $71, citing a combination of updated price targets, expectations for a higher future P/E multiple, and modestly stronger profit margins supported by recent research commentary on nuclear restart potential and broader utility sector revisions. Analyst Commentary Recent research on NextEra Energy has been mixed, with several firms updating their price targets and assumptions as they revisit the broader utilities sector and the company specific nuclear restart potential.
VST
US$164.26
Vistra
7D
4.8%
1Y
9.8%
SWX
US$83.86
Southwest Gas Holdings
7D
-1.1%
1Y
13.5%

SWX: CFO Succession And Firmer Margins Will Support Fairly Valued Outlook

Analysts have nudged their price target on Southwest Gas Holdings higher from US$89.43 to US$92.00, citing updated assumptions that include a slightly different discount rate, softer revenue growth expectations, firmer profit margin forecasts, and a modestly higher future P/E multiple. What's in the News Southwest Gas Holdings announced that Chief Financial Officer Robert J.
SRE
US$87.11
Sempra
7D
-1.5%
1Y
6.6%

SRE: Long-Term EPS Outlook Will Support Constructive Future Share Returns

Analysts have nudged their price target on Sempra slightly higher to about $100.07 from roughly $99.87, reflecting updated assumptions around revenue growth, profit margins, and future P/E expectations. What's in the News Sempra issued updated earnings guidance for the full year 2025, with an EPS range of $3.05 to $3.45.
AES
US$14.92
AES
7D
8.4%
1Y
35.5%
CEG
US$288.76
Constellation Energy
7D
-2.2%
1Y
3.6%
PPL
US$36.72
PPL
7D
-0.5%
1Y
11.8%
ETR
US$96.58
Entergy
7D
1.9%
1Y
24.4%

ETR: Gulf Coast Load Expansion And Supportive Regulation Will Shape Balanced Outlook

Narrative Update The analyst price target for Entergy edges higher to about $105 per share as analysts factor in slightly stronger revenue growth, modestly higher profit margins, and a lower discount rate. This view is partly supported by recent research citing industrial and data center demand along with constructive state regulatory environments.
AWK
US$130.53
American Water Works Company
7D
-0.7%
1Y
3.3%
BEPC
US$40.26
Brookfield Renewable
7D
4.5%
1Y
63.7%
OKLO
US$85.27
Oklo
7D
-5.2%
1Y
149.9%