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U.S. Utilities Sector Analysis

UpdatedJan 09, 2026
DataAggregated Company Financials
Companies115
  • 7D-1.3%
  • 3M-6.6%
  • 1Y11.9%
  • YTD-2.5%

Over the last 7 days, the Utilities industry has dropped 1.3%, driven by NRG Energy declining 10%. Over the past 12 months, the industry was up 12%. 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, 10 Jan 2026US$1.5tUS$556.5bUS$68.6b19.6x21.8x2.7x
Mon, 08 Dec 2025US$1.5tUS$558.0bUS$68.7b19.7x22.4x2.8x
Wed, 05 Nov 2025US$1.6tUS$557.1bUS$65.3b21.4x24.4x2.9x
Fri, 03 Oct 2025US$1.6tUS$549.9bUS$63.6b21x24.7x2.9x
Sun, 31 Aug 2025US$1.5tUS$549.2bUS$63.7b20.6x23.4x2.7x
Tue, 29 Jul 2025US$1.5tUS$541.4bUS$64.2b21.2x23.2x2.8x
Thu, 26 Jun 2025US$1.4tUS$540.2bUS$64.0b20.3x22.5x2.7x
Sat, 24 May 2025US$1.4tUS$540.1bUS$64.0b20.8x21.9x2.6x
Mon, 21 Apr 2025US$1.4tUS$526.6bUS$63.6b20.8x21.5x2.6x
Wed, 19 Mar 2025US$1.4tUS$526.8bUS$63.1b20.8x21.9x2.6x
Fri, 14 Feb 2025US$1.4tUS$524.8bUS$62.1b20.3x22.3x2.6x
Sun, 12 Jan 2025US$1.3tUS$503.3bUS$55.8b19.3x23.5x2.6x
Tue, 10 Dec 2024US$1.4tUS$533.3bUS$61.2b20.6x22.8x2.6x
Thu, 07 Nov 2024US$1.4tUS$530.4bUS$63.3b19.8x21.7x2.6x
Sat, 05 Oct 2024US$1.4tUS$522.9bUS$60.5b19.8x23.4x2.7x
Mon, 02 Sep 2024US$1.3tUS$522.9bUS$60.5b19.5x21.9x2.5x
Wed, 31 Jul 2024US$1.3tUS$518.2bUS$59.8b19.6x21x2.4x
Fri, 28 Jun 2024US$1.2tUS$517.6bUS$60.4b18x19.9x2.3x
Sun, 26 May 2024US$1.2tUS$518.1bUS$60.4b18.1x20.6x2.4x
Tue, 23 Apr 2024US$1.1tUS$528.1bUS$57.4b18.7x19.9x2.2x
Thu, 21 Mar 2024US$1.1tUS$528.0bUS$57.4b18.2x19.5x2.1x
Sat, 17 Feb 2024US$1.1tUS$537.3bUS$54.3b18.1x19.8x2x
Mon, 15 Jan 2024US$1.1tUS$543.9bUS$53.5b19x20.8x2x
Wed, 13 Dec 2023US$1.1tUS$543.9bUS$53.5b19.1x20.6x2x
Fri, 10 Nov 2023US$1.1tUS$545.1bUS$53.2b18.3x19.9x1.9x
Sun, 08 Oct 2023US$1.0tUS$554.7bUS$51.7b18.7x19.7x1.8x
Tue, 05 Sep 2023US$1.1tUS$549.7bUS$50.8b19.7x21.4x2x
Thu, 03 Aug 2023US$1.2tUS$550.7bUS$47.5b21x24.3x2.1x
Sat, 01 Jul 2023US$1.1tUS$551.7bUS$45.7b20.3x25x2.1x
Mon, 29 May 2023US$1.1tUS$549.1bUS$46.5b19.9x24.1x2x
Wed, 26 Apr 2023US$1.2tUS$531.9bUS$45.0b21.9x26.9x2.3x
Fri, 24 Mar 2023US$1.1tUS$532.0bUS$45.0b19.7x24.6x2.1x
Sun, 19 Feb 2023US$1.2tUS$527.6bUS$47.2b21x25.1x2.2x
Tue, 17 Jan 2023US$1.2tUS$531.4bUS$50.1b21.7x24.6x2.3x
Price to Earnings Ratio

24.6x


Total Market Cap: US$1.2tTotal Earnings: US$50.1bTotal Revenue: US$531.4bTotal 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 2.7x.
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 Market1.49%
Utilities-1.28%
Water Utilities-0.17%
Gas Utilities-0.28%
Other Utilities-0.70%
Electric Utilities-1.27%
Renewable Energy-4.26%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 151x.
    • Analysts are expecting annual earnings growth of 23.7%, 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 30.4x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 24% 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 8.5% 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$342.52-6.5%
US$9.7b		12.2%PE45.3x
OKLO OkloUS$105.3135.4%
+US$4.3b		317.2%PB13.6x
AEP American Electric Power CompanyUS$116.910.9%
+US$587.5m		25.0%PE17.1x
VST VistraUS$166.370.7%
+US$386.3m		-0.2%PE58.7x
HE Hawaiian Electric IndustriesUS$14.7716.9%
+US$369.4m		80.6%PE22.6x

Latest News

CEG
US$342.52
Constellation Energy
7D
-6.5%
1Y
12.2%
HE
US$14.77
Hawaiian Electric Industries
7D
16.9%
1Y
80.6%
PNW
US$89.07
Pinnacle West Capital
7D
1.1%
1Y
8.9%

The Returns At Pinnacle West Capital (NYSE:PNW) Aren't Growing

Jan 09
The Returns At Pinnacle West Capital (NYSE:PNW) Aren't Growing
OTTR
US$85.61
Otter Tail
7D
5.1%
1Y
17.5%
TLN
US$370.83
Talen Energy
7D
-6.5%
1Y
67.2%

TLN: Data Center Demand And Caithness Deal Will Reshape Earnings Power

Analysts have lifted their blended price target on Talen Energy to about US$557 from roughly US$399, citing updated assumptions that reflect recent price target increases across the Street, the planned closing of the Caithness transaction by late 2025, higher forward power prices in PJM, and growing attention on Talen's role in supporting data center demand. Analyst Commentary Bullish analysts are framing the recent set of price target moves on Talen Energy as a re-marking of the stock to reflect updated deal assumptions, power market inputs in PJM, and rising visibility into data center related demand.
NRG
US$149.27
NRG Energy
7D
-10.2%
1Y
50.2%
EXC
US$43.30
Exelon
7D
-1.4%
1Y
16.1%

EXC: Pennsylvania Step Up And Wires Only Profile Should Support Upside

Analysts have lifted their average price target for Exelon by a little over $0.10 per share, citing a combination of higher P/E assumptions, slightly stronger modeled revenue growth, and ongoing regulatory visibility. These factors are partially offset by modestly softer profit margin expectations and affordability concerns.
ORA
US$115.35
Ormat Technologies
7D
1.4%
1Y
75.5%

ORA: Geothermal Partnership And Data Center Demand Will Support Measured Outlook

Analysts have slightly increased their price target for Ormat Technologies from US$119.10 to US$121.40, citing small adjustments in assumptions for the discount rate, revenue growth, profit margin and forward P/E as the main reasons for this revision. What's in the News Ormat Technologies issued new guidance for 2025, indicating total revenues in a range of US$960 million to US$980 million (Key Developments).
BEPC
US$38.01
Brookfield Renewable
7D
-4.7%
1Y
41.0%
VST
US$166.37
Vistra
7D
0.7%
1Y
-0.2%

VST: Data Center Demand Will Drive Long-Term Power Pricing Upside

The analyst price target for Vistra has inched higher to approximately $233 per share from about $231, as analysts factor in a slightly lower discount rate, a modestly stronger margin outlook, and supportive sector research highlighting rising power prices and data-center-driven demand for electric utilities. Analyst Commentary Bullish analysts remain constructive on Vistra, highlighting that the combination of rising power prices, data center demand, and improving cash flows supports a premium valuation versus historical levels.
PEG
US$78.68
Public Service Enterprise Group
7D
-2.9%
1Y
-6.6%

There's Reason For Concern Over Public Service Enterprise Group Incorporated's (NYSE:PEG) Price

Jan 03
There's Reason For Concern Over Public Service Enterprise Group Incorporated's (NYSE:PEG) Price
NEE
US$79.89
NextEra Energy
7D
-1.3%
1Y
18.6%
OKLO
US$105.31
Oklo
7D
35.4%
1Y
317.2%
PCG
US$15.85
PG&E
7D
-2.6%
1Y
-7.7%

PCG: Massive Transmission Spend Will Drive Data Center Power Demand Upside

Analysts have nudged their average price target for PG&E up to about $21.20. This reflects a slightly more optimistic view on long term revenue growth from data center driven demand and capital investment opportunities, partially offset by lower allowed returns on equity in California.
D
US$57.98
Dominion Energy
7D
-2.1%
1Y
8.6%

D: Offshore Wind Progress And Earnings Outlook Will Support Steady Future Returns

Narrative Update on Analyst Price Target Analysts have trimmed their average price target on Dominion Energy by approximately $0.20 per share, reflecting slightly softer revenue growth expectations, partially offset by modestly improved profit margin and valuation assumptions. What's in the News Dominion Energy defended its Coastal Virginia Offshore Wind Project as essential to national security and Virginia grid reliability, warning that any halt could threaten power supplies for military, AI, data center, and shipbuilding operations, increase energy costs, and jeopardize thousands of jobs (Regulatory Authority – Compliance).
AEP
US$116.91
American Electric Power Company
7D
0.9%
1Y
25.0%

AEP: Data Center Load And Massive Capex Plan Will Drive Future Upside

Analysts have nudged their price target on American Electric Power Company modestly higher, citing a series of recent target increases across the Street. These moves reflect expectations for stronger rate base and earnings growth supported by robust data center driven demand and a sizable, multi year capital plan.