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U.S. Utilities Sector Analysis

UpdatedApr 24, 2026
DataAggregated Company Financials
Companies110
  • 7D-0.5%
  • 3M7.5%
  • 1Y18.0%
  • YTD6.1%

The Utilities is pretty flat in the last 7 days, but NextEra Energy has stood out, gaining 4.8%. The past year has been better, since the industry has gained 18% in that time. As for the next few years, earnings are expected to grow by 12% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 24 Apr 2026US$1.6tUS$567.9bUS$67.5b22x24.1x2.9x
Sun, 22 Mar 2026US$1.6tUS$567.9bUS$67.5b20.7x23.7x2.8x
Tue, 17 Feb 2026US$1.7tUS$562.6bUS$68.0b21.8x24.6x3x
Thu, 15 Jan 2026US$1.5tUS$556.5bUS$68.6b20.1x22.6x2.8x
Sat, 13 Dec 2025US$1.5tUS$558.0bUS$68.7b19.5x22.3x2.7x
Mon, 10 Nov 2025US$1.6tUS$559.3bUS$68.0b20.4x23.6x2.9x
Wed, 08 Oct 2025US$1.6tUS$549.9bUS$63.6b21.3x25.2x2.9x
Fri, 05 Sep 2025US$1.5tUS$549.2bUS$63.7b20.5x23.2x2.7x
Sun, 03 Aug 2025US$1.5tUS$545.9bUS$63.5b20.6x23.8x2.8x
Tue, 01 Jul 2025US$1.4tUS$540.3bUS$64.0b20.4x22.4x2.7x
Thu, 29 May 2025US$1.4tUS$540.1bUS$64.0b20.6x22.4x2.7x
Sat, 26 Apr 2025US$1.4tUS$528.6bUS$62.1b20.9x22.3x2.6x
Mon, 24 Mar 2025US$1.4tUS$526.8bUS$63.1b20.6x21.8x2.6x
Wed, 19 Feb 2025US$1.4tUS$525.1bUS$62.8b20.8x21.9x2.6x
Fri, 17 Jan 2025US$1.3tUS$528.1bUS$58.6b19.8x22.8x2.5x
Sun, 15 Dec 2024US$1.4tUS$532.1bUS$61.1b20.1x22.2x2.5x
Tue, 12 Nov 2024US$1.4tUS$533.4bUS$61.3b20.5x22.6x2.6x
Thu, 10 Oct 2024US$1.4tUS$522.9bUS$60.5b19.4x22.8x2.6x
Sat, 07 Sep 2024US$1.3tUS$522.9bUS$60.5b19.4x21.8x2.5x
Mon, 05 Aug 2024US$1.3tUS$521.9bUS$60.6b19.8x21.4x2.5x
Wed, 03 Jul 2024US$1.2tUS$517.6bUS$60.4b17.9x19.6x2.3x
Fri, 31 May 2024US$1.2tUS$518.1bUS$60.4b17.9x20.5x2.4x
Sun, 28 Apr 2024US$1.2tUS$525.9bUS$57.8b18.5x20x2.2x
Tue, 26 Mar 2024US$1.1tUS$528.0bUS$57.4b18.3x19.5x2.1x
Thu, 22 Feb 2024US$1.1tUS$536.6bUS$54.4b18.1x19.7x2x
Sat, 20 Jan 2024US$1.1tUS$543.9bUS$53.5b18.1x20.1x2x
Mon, 18 Dec 2023US$1.1tUS$543.9bUS$53.5b19.2x20.9x2.1x
Wed, 15 Nov 2023US$1.0tUS$545.0bUS$53.4b18.9x19.4x1.9x
Fri, 13 Oct 2023US$1.1tUS$554.7bUS$51.7b18.9x20.4x1.9x
Sun, 10 Sep 2023US$1.1tUS$549.8bUS$50.8b19.9x21.5x2x
Tue, 08 Aug 2023US$1.1tUS$548.4bUS$48.6b20.9x23x2x
Thu, 06 Jul 2023US$1.2tUS$551.7bUS$45.7b20.7x25.4x2.1x
Sat, 03 Jun 2023US$1.1tUS$549.2bUS$46.5b20x24.3x2.1x
Mon, 01 May 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 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 22.3x.
  • 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 Market0.69%
Utilities-0.48%
Water Utilities3.78%
Electric Utilities-0.16%
Gas Utilities-0.40%
Other Utilities-0.79%
Renewable Energy-3.86%
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
NEE NextEra EnergyUS$96.254.8%
+US$9.2b		45.1%PE29.4x
OKLO OkloUS$76.4619.1%
+US$2.1b		214.4%PB9x
AWK American Water Works CompanyUS$134.973.3%
+US$833.8m		-7.6%PE23.7x
WTRG Essential UtilitiesUS$40.334.2%
+US$456.1m		-0.1%PE18.5x
AEP American Electric Power CompanyUS$135.080.4%
+US$282.0m		26.6%PE20.5x

Latest News

NEE
US$96.25
NextEra Energy
7D
4.8%
1Y
45.1%

NextEra Energy Just Delivered 10% EPS Growth As They Benefit From The AI Buildout

Apr 24
OKLO
US$76.46
Oklo
7D
19.1%
1Y
214.4%

Oklo: Positioned To Power The AI Infrastructure Boom

Apr 24
NI
US$48.29
NiSource
7D
1.2%
1Y
21.7%
NRG
US$154.53
NRG Energy
7D
-8.3%
1Y
45.6%
PEG
US$80.16
Public Service Enterprise Group
7D
-2.3%
1Y
-1.9%
AWK
US$134.97
American Water Works Company
7D
3.3%
1Y
-7.6%

AWK: Governance Changes And Steady Execution Will Support A Neutral Yet Guarded Outlook

Narrative Update Analysts have lifted the blended price target for American Water Works Company by about $1 to roughly $139, citing updated views on long term revenue growth, profit margin resilience, and a modestly higher future P/E outlook informed by recent research from Wells Fargo, Truist, and Barclays. Analyst Commentary Recent research points to a cautiously constructive stance on American Water Works Company, with price target changes and a neutral initiation reflecting a balance between confidence in the business model and awareness of execution and valuation risks.
SO
US$93.91
Southern
7D
-1.0%
1Y
3.1%

SO: Fair View Will Reflect Dam Safety Progress And Dividend Support

Analysts now see Southern’s fair value edging to about $101.87 from roughly $101.24, reflecting updated assumptions for revenue growth, profit margins, the discount rate, and future P/E. These changes slightly adjust the risk and return trade off you may want to watch.
AWR
US$80.80
American States Water
7D
7.0%
1Y
1.8%
SRE
US$93.91
Sempra
7D
-2.0%
1Y
26.0%

SRE: Long Term EPS Guidance And Dividend Policy Will Shape Future Returns

Analysts have nudged their price target for Sempra higher to about $104 from roughly $103, reflecting updated assumptions around slightly different revenue growth, profit margin, and future P/E expectations. What's in the News Sempra issued new full-year 2027 earnings guidance, with EPS expected in a range of $5.10 to $5.70.
XEL
US$79.48
Xcel Energy
7D
-1.9%
1Y
13.1%

XEL: Data Center Load Agreements And Grid Investments Will Shape Future Returns

Analysts have nudged Xcel Energy's price target higher by $2 to $91, reflecting updated assumptions around revenue growth, profit margins and future P/E. Recent Street research highlights refreshed views on utilities, evolving data center demand and shifting affordability and political considerations.
WTRG
US$40.33
Essential Utilities
7D
4.2%
1Y
-0.1%
CEG
US$292.77
Constellation Energy
7D
-2.1%
1Y
34.3%

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$47.52
California Water Service Group
7D
6.0%
1Y
-5.1%

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$156.85
Vistra
7D
-5.2%
1Y
26.3%

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.
PCG
US$16.83
PG&E
7D
-3.1%
1Y
-3.2%

PCG: Wildfire Policy Reform And Liability Reduction Will Drive Future Repricing

PG&E's analyst fair value estimate edges up by about $0.10 per share as analysts factor in updated wildfire policy developments, affordability considerations, and expectations that the stock's P/E discount could narrow with continued risk reduction. Analyst Commentary Recent Street research on PG&E points to a mix of optimism and caution, with several firms updating ratings and price targets as wildfire policy, affordability, and relative valuation stay in focus.
AEP
US$135.08
American Electric Power Company
7D
0.4%
1Y
26.6%

AEP: Data Center Load Backlog And Grid Investments Will Shape Outlook

Analysts have raised their average price target for American Electric Power Company by roughly $4 to about $137. They attribute this change to updated models that factor in higher contracted load, a larger capital program in transmission and supply, and refined earnings assumptions following recent Q4 results.