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U.S. Utilities Sector Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies112
  • 7D-0.5%
  • 3M7.1%
  • 1Y22.4%
  • YTD8.1%

In the last week, Utilities has been flat. As for the the longer term, the industry is up 21% over the past 12 months. 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
Thu, 05 Mar 2026US$1.7tUS$567.9bUS$67.3b22.4x25.1x3x
Sat, 31 Jan 2026US$1.6tUS$558.6bUS$69.1b20.4x22.6x2.8x
Mon, 29 Dec 2025US$1.5tUS$556.5bUS$68.5b19.4x22.2x2.7x
Wed, 26 Nov 2025US$1.6tUS$558.0bUS$68.7b20.4x23x2.8x
Fri, 24 Oct 2025US$1.6tUS$549.9bUS$63.6b21.9x25.3x2.9x
Sun, 21 Sep 2025US$1.5tUS$549.9bUS$63.6b20.3x23.7x2.7x
Tue, 19 Aug 2025US$1.5tUS$549.2bUS$63.7b20.5x23.7x2.7x
Thu, 17 Jul 2025US$1.4tUS$540.7bUS$63.8b20.9x22.7x2.7x
Sat, 14 Jun 2025US$1.4tUS$540.1bUS$64.0b20.6x22.5x2.7x
Mon, 12 May 2025US$1.4tUS$538.9bUS$63.6b20.7x22.2x2.6x
Wed, 09 Apr 2025US$1.3tUS$526.8bUS$63.6b19.6x20.3x2.4x
Fri, 07 Mar 2025US$1.4tUS$526.8bUS$63.1b19.6x21.5x2.6x
Sun, 02 Feb 2025US$1.4tUS$527.0bUS$60.4b20x22.5x2.6x
Tue, 31 Dec 2024US$1.3tUS$523.4bUS$60.0b20x22x2.5x
Thu, 28 Nov 2024US$1.4tUS$533.3bUS$61.2b21.5x23.7x2.7x
Sat, 26 Oct 2024US$1.4tUS$523.5bUS$61.4b19.6x23.1x2.7x
Mon, 23 Sep 2024US$1.4tUS$522.9bUS$60.5b20x22.9x2.7x
Wed, 21 Aug 2024US$1.3tUS$522.9bUS$60.6b19.4x21.6x2.5x
Fri, 19 Jul 2024US$1.2tUS$517.6bUS$60.4b19.1x20.4x2.4x
Sun, 16 Jun 2024US$1.2tUS$518.0bUS$60.4b18x20x2.3x
Tue, 14 May 2024US$1.2tUS$518.4bUS$60.2b18.8x20.7x2.4x
Thu, 11 Apr 2024US$1.2tUS$528.1bUS$57.4b18.4x20.1x2.2x
Sat, 09 Mar 2024US$1.1tUS$526.3bUS$57.9b17.9x19.2x2.1x
Mon, 05 Feb 2024US$1.1tUS$544.3bUS$53.5b18.6x20.2x2x
Wed, 03 Jan 2024US$1.1tUS$543.9bUS$53.5b19.4x21.2x2.1x
Fri, 01 Dec 2023US$1.1tUS$543.9bUS$53.5b18.7x20.3x2x
Sun, 29 Oct 2023US$1.0tUS$549.9bUS$50.2b18.9x20.3x1.9x
Tue, 26 Sep 2023US$1.1tUS$549.8bUS$50.8b19.6x21.6x2x
Thu, 24 Aug 2023US$1.1tUS$549.8bUS$50.8b19.9x21.7x2x
Sat, 22 Jul 2023US$1.2tUS$551.7bUS$45.7b21.5x26.1x2.2x
Mon, 19 Jun 2023US$1.2tUS$551.9bUS$45.7b20.7x25.5x2.1x
Wed, 17 May 2023US$1.2tUS$549.2bUS$46.5b20.5x24.8x2.1x
Fri, 14 Apr 2023US$1.2tUS$532.0bUS$45.0b21.6x26.9x2.3x
Sun, 12 Mar 2023US$1.1tUS$532.0bUS$45.0b19.8x24.7x2.1x
Price to Earnings Ratio

24.7x


Total Market Cap: US$1.1tTotal Earnings: US$45.0bTotal Revenue: US$532.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Utilities Sector Price to Earnings3Y Average 22.4x202420252026
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 25.3x which is higher than its 3-year average PE of 22.4x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.0x.
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 2.2% 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-1.22%
Utilities-0.46%
Gas Utilities2.31%
Water Utilities1.63%
Other Utilities0.69%
Electric Utilities-0.35%
Renewable Energy-7.93%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry, which is trading close to its 3-year average PE ratio of 21.8x.
    • Analysts are expecting annual earnings growth of 10.7%, which is higher than its past year's earnings growth of 6.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 21% 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
DUK Duke EnergyUS$131.882.3%
+US$2.3b		14.4%PE20.9x
SO SouthernUS$97.631.8%
+US$1.9b		10.1%PE25.2x
DTE DTE EnergyUS$150.112.8%
+US$849.9m		13.7%PE21.4x
ATO Atmos EnergyUS$186.772.6%
+US$779.2m		26.1%PE24.7x
WEC WEC Energy GroupUS$117.551.8%
+US$693.4m		12.5%PE24.6x

Latest News

PEG
US$83.91
Public Service Enterprise Group
7D
-2.4%
1Y
2.8%
CEG
US$322.85
Constellation Energy
7D
-0.9%
1Y
40.8%
AES
US$14.29
AES
7D
-12.7%
1Y
30.4%
DUK
US$131.88
Duke Energy
7D
2.3%
1Y
14.4%
NRG
US$163.54
NRG Energy
7D
-10.9%
1Y
65.7%
BEPC
US$40.88
Brookfield Renewable
7D
-6.6%
1Y
49.5%
VST
US$163.36
Vistra
7D
-6.8%
1Y
28.8%

VST: Long Term Meta Nuclear Contracts Will Anchor PJM Power Demand

Narrative Update The analyst price target for Vistra is unchanged at $293, as analysts balance modest tweaks to growth, margins and P/E assumptions with ongoing support from recent price target revisions across the Street. These revisions include reactions to new long-term Meta contracts, PJM exposure and recent gas generation deals.
SRE
US$95.39
Sempra
7D
0.9%
1Y
32.7%
TLN
US$336.57
Talen Energy
7D
-14.0%
1Y
70.1%
WEC
US$117.55
WEC Energy Group
7D
1.8%
1Y
12.5%
NEE
US$92.60
NextEra Energy
7D
-2.6%
1Y
31.4%
AEP
US$133.52
American Electric Power Company
7D
0.8%
1Y
29.1%

AEP: Data Center Load And Fuel Project Will Shape Premium Valuation Potential

Analysts have lifted their price expectations for American Electric Power, with the updated fair value estimate moving from $128.75 to $133.03. They cite a larger contracted load pipeline, ongoing capital investment plans in supply and transmission, and continued execution that supports premium P/E assumptions, despite slightly lower revenue growth and profit margin inputs in recent models.
EXC
US$49.25
Exelon
7D
1.1%
1Y
13.6%

EXC: Regulatory Visibility Through 2027 Will Balance Affordability And Grid Investment Risks

Analysts have nudged our Exelon fair value estimate to $49.94 from $48.75, reflecting modestly higher modeled revenue growth, a slightly stronger profit margin profile, and a small uptick in the assumed future P/E multiple following a series of upward price target revisions across the Street. Analyst Commentary Recent Street research around Exelon has been active, with several price target revisions and rating changes clustering over the past few months.
ATO
US$186.77
Atmos Energy
7D
2.6%
1Y
26.1%

ATO: Expanded Share Authorization And Governance Revisions Will Support Steady Earnings Outlook

Analysts have nudged their price target on Atmos Energy higher to $180.10 from $176.82, reflecting updated views on fair value, slightly adjusted revenue growth and profit margin expectations, and a modestly higher assumed future P/E multiple. What's in the News Shareholders approved amendments to Atmos Energy's Restated Articles of Incorporation at the February 4, 2026 annual meeting, including an increase in authorized shares to 400 million and adoption of plurality voting for contested director elections (Key Developments).
DTE
US$150.11
DTE Energy
7D
2.8%
1Y
13.7%

DTE: Future Earnings And Dividend Will Be Balanced By Equity Offering

Analysts have adjusted their price target on DTE Energy to $151.50 from $147.35. The change reflects updated views on fair value, revenue growth assumptions, profit margins and future P/E expectations.
SO
US$97.63
Southern
7D
1.8%
1Y
10.1%

SO: Fair Value Outlook Will Balance Higher Profitability And Slightly Lower Future P/E

Analysts have reduced their price target for Southern by about $1, reflecting updated assumptions about fair value, discount rate, revenue growth, profit margin, and future P/E expectations. Valuation Changes Fair Value was reduced slightly from $99.23 to $98.13, reflecting updated model inputs.