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U.S. Utilities Sector Analysis

UpdatedJul 27, 2026
DataAggregated Company Financials
Companies117
  • 7D2.2%
  • 3M-0.5%
  • 1Y8.9%
  • YTD5.6%

The Utilities industry is up 2.2% in the last week, with Constellation Energy up 8.7%. This takes the industry's 12 month performance to a gain of 8.9%. Looking forward, earnings are forecast to grow by 10% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Jul 2026US$1.7tUS$587.9bUS$70.3b22.1x23.8x2.9x
Wed, 24 Jun 2026US$1.6tUS$587.1bUS$69.1b21.4x23.6x2.8x
Fri, 22 May 2026US$1.6tUS$597.8bUS$70.2b21.3x23.1x2.7x
Sun, 19 Apr 2026US$1.7tUS$568.0bUS$67.5b21.9x24.8x2.9x
Tue, 17 Mar 2026US$1.7tUS$567.9bUS$67.6b21.8x24.9x3x
Thu, 12 Feb 2026US$1.6tUS$560.9bUS$67.7b21x23.6x2.8x
Sat, 10 Jan 2026US$1.5tUS$556.5bUS$68.6b19.5x22.2x2.7x
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
Price to Earnings Ratio

24.3x


Total Market Cap: US$1.2tTotal Earnings: US$47.5bTotal Revenue: US$550.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Utilities Sector Price to Earnings3Y Average 22.2x202420252026
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 22.2x.
  • The 3-year average PS ratio of 2.5x 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 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-1.05%
Utilities2.21%
Electric Utilities2.93%
Gas Utilities1.38%
Other Utilities1.35%
Renewable Energy1.03%
Water Utilities-0.78%
Industry PE
  • Investors are most optimistic about the Water Utilities industry, which is trading close to its 3-year average PE ratio of 23.9x.
    • Analysts are expecting annual earnings growth of 9.5%, which is higher than its past year's earnings growth of 6.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings decline of 8.3% per year.
  • In contrast, the Other Utilities industry is expected to see its earnings grow by 6.0% 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$274.358.2%
+US$7.4b		-16.5%PE25.8x
NEE NextEra EnergyUS$89.782.0%
+US$3.7b		25.8%PE20.1x
DUK Duke EnergyUS$130.523.7%
+US$3.6b		11.0%PE20.1x
SO SouthernUS$97.253.0%
+US$3.1b		3.1%PE25.1x
AEP American Electric Power CompanyUS$135.543.4%
+US$2.4b		25.6%PE20.2x

Latest News

CWT
US$50.72
California Water Service Group
7D
-1.3%
1Y
14.4%
Seeking Alpha • 10h

California Water Service: Interest Rates Are A Headwind (Rating Downgrade)

Summary California Water Service Group is a dependable dividend grower, now marking 58 consecutive annual increases. Its stock has outperformed most water utility peers YTD, but the valuation has crept up a bit. Rising interest rates and a worsening yield spread versus treasuries make California Water Service less attractive as a bond proxy at current prices. I downgrade shares to a hold, preferring a lower entry point near $40 and a 3% yield given current macro conditions. Read the full article on Seeking Alpha
NRG
US$141.03
NRG Energy
7D
8.0%
1Y
-11.0%
NEE
US$89.78
NextEra Energy
7D
2.0%
1Y
25.8%
POR
US$52.05
Portland General Electric
7D
-0.9%
1Y
27.1%
OKLO
US$40.25
Oklo
7D
-3.0%
1Y
-46.7%
DUK
US$130.52
Duke Energy
7D
3.7%
1Y
11.0%
SO
US$97.25
Southern
7D
3.0%
1Y
3.1%
AEP
US$135.54
American Electric Power Company
7D
3.4%
1Y
25.6%
AWR
US$86.41
American States Water
7D
-2.3%
1Y
19.7%
CWEN
US$32.09
Clearway Energy
7D
-3.7%
1Y
2.4%
FRVO
US$24.02
Fervo Energy
7D
-5.8%
1Y
n/a
Seeking Alpha • Jul 21

Fervo Energy: Too Early To Jump In

Summary Fervo Energy Company remains in pre-commercial R&D, with Q1 ’26 revenues of $61k and a net loss of $32m, reflecting early-stage operations. FRVO’s cash position of $281m and manageable debt provide liquidity to fund expansion and pilot projects for up to three years at current burn rates. Operational progress includes a record-setting Gen 3.0 well, supply chain agreements, and over 658 MW under binding PPAs, supporting a $7.2B revenue backlog. I maintain a Hold rating on FRVO, citing AI sector pessimism and awaiting hyperscaler capex guidance before considering a position. Read the full article on Seeking Alpha
ETR
US$115.95
Entergy
7D
3.6%
1Y
33.8%
Seeking Alpha • Jul 20

Entergy: Visible EPS Growth Backed By Contracted Load Growth

Summary I rate Entergy Corporation a buy, driven by contracted data center and industrial load supporting regulated infrastructure expansion and faster EPS growth. ETR's long-term, risk-mitigated contracts with large customers provide financial visibility and regulatory support for its $67 billion capital plan. Management targets a 16.1% CAGR in rate base and ~13% adj. EPS CAGR through 2030, outpacing peers and supporting a premium valuation. Regulatory approval, customer concentration, and execution risks exist, but ETR's secured resources and customer protections enhance confidence in achieving growth targets. Read the full article on Seeking Alpha
CEG
US$274.35
Constellation Energy
7D
8.2%
1Y
-16.5%
Seeking Alpha • Jul 19

Constellation Energy: The Inventory Is Smaller Than The Gap

Summary Constellation Energy is uniquely positioned with the largest deliverable carbon-free inventory, controlling over half of the US merchant nuclear pool. CEG’s investment case hinges on structural scarcity: its uncontracted nuclear inventory is smaller than the massive data-center-driven supply gap, supporting durable pricing power. Guidance excludes upside from ~147 TWh of uncontracted nuclear, offering a free, unmodeled option potentially worth +$1.5 to $4 EPS over five years. I rate CEG a Buy for its downside-protected, contracted base and mispriced optionality, favoring entry on weakness toward the mid-$250s. Read the full article on Seeking Alpha
XEL
US$81.67
Xcel Energy
7D
3.8%
1Y
14.8%
BEPC
US$33.53
Brookfield Renewable
7D
-2.0%
1Y
-8.9%
Seeking Alpha • Jul 04

Brookfield Renewable Corporation: The Simplification Catalyst May Favor Brookfield Renewable Partners

Summary Brookfield Renewable Corporation is evaluating a merger with Brookfield Renewable Partners to create a single publicly traded entity. BEPC trades at a 7.7% premium to BEP despite identical economic exposure, payments, and platform access, largely due to structural advantages. I rate BEPC a Hold, preferring BEP until the merger terms clarify whether BEPC's premium will be preserved or eliminated. Brookfield Renewable's operational outlook is strong, with robust liquidity, a large development pipeline, and the pending Boralex acquisition supporting long-term growth. Read the full article on Seeking Alpha
ORA
US$99.40
Ormat Technologies
7D
-4.0%
1Y
12.5%