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U.S. Utilities Sector Analysis

UpdatedAug 21, 2026
DataAggregated Company Financials
Companies115
  • 7D-1.1%
  • 3M-4.1%
  • 1Y2.4%
  • YTD-0.1%

Over the last 7 days, the Utilities industry has remained flat, although notably Edison International gained 5.6%. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are expected to grow by 9.9% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 21 Aug 2026US$1.6tUS$595.4bUS$72.0b20.9x22.2x2.7x
Sun, 19 Jul 2026US$1.6tUS$587.1bUS$69.0b22x23.8x2.8x
Tue, 16 Jun 2026US$1.6tUS$587.1bUS$69.1b21.3x23.4x2.8x
Thu, 14 May 2026US$1.6tUS$587.0bUS$69.2b21.4x23.8x2.8x
Sat, 11 Apr 2026US$1.7tUS$568.0bUS$67.5b22.3x25.2x3x
Mon, 09 Mar 2026US$1.7tUS$567.9bUS$67.3b21.9x24.9x3x
Wed, 04 Feb 2026US$1.5tUS$558.6bUS$67.6b20.4x22.8x2.8x
Fri, 02 Jan 2026US$1.5tUS$556.5bUS$68.6b19.4x22.2x2.7x
Sun, 30 Nov 2025US$1.6tUS$558.0bUS$68.7b20.7x23.4x2.9x
Tue, 28 Oct 2025US$1.6tUS$550.7bUS$64.0b21.9x25.4x3x
Thu, 25 Sep 2025US$1.5tUS$549.9bUS$63.6b20.8x24.1x2.8x
Sat, 23 Aug 2025US$1.5tUS$549.2bUS$63.7b20.9x23.7x2.7x
Mon, 21 Jul 2025US$1.5tUS$540.7bUS$63.8b21.2x23.1x2.7x
Wed, 18 Jun 2025US$1.4tUS$540.2bUS$64.0b20.4x22.2x2.6x
Fri, 16 May 2025US$1.4tUS$540.1bUS$63.9b20.5x21.8x2.6x
Sun, 13 Apr 2025US$1.3tUS$526.8bUS$63.6b20.4x21.1x2.5x
Tue, 11 Mar 2025US$1.4tUS$526.8bUS$63.1b20.1x21.4x2.6x
Thu, 06 Feb 2025US$1.4tUS$527.0bUS$60.7b20.1x22.3x2.6x
Sat, 04 Jan 2025US$1.3tUS$523.4bUS$59.9b20.2x22.1x2.5x
Mon, 02 Dec 2024US$1.4tUS$533.3bUS$61.2b21.3x23.7x2.7x
Wed, 30 Oct 2024US$1.4tUS$523.6bUS$61.4b19.6x23x2.7x
Fri, 27 Sep 2024US$1.4tUS$522.9bUS$60.5b19.7x23.1x2.7x
Sun, 25 Aug 2024US$1.3tUS$522.9bUS$60.5b19.4x21.7x2.5x
Tue, 23 Jul 2024US$1.2tUS$517.6bUS$60.4b19.2x20.4x2.4x
Thu, 20 Jun 2024US$1.2tUS$517.6bUS$60.4b17.9x19.8x2.3x
Sat, 18 May 2024US$1.3tUS$518.1bUS$60.4b18.7x20.9x2.4x
Mon, 15 Apr 2024US$1.1tUS$528.1bUS$57.4b18.1x19.6x2.1x
Wed, 13 Mar 2024US$1.1tUS$526.3bUS$57.9b18x19.3x2.1x
Fri, 09 Feb 2024US$1.1tUS$539.4bUS$54.2b17.5x19.6x2x
Sun, 07 Jan 2024US$1.1tUS$543.9bUS$53.5b19.6x21.2x2.1x
Tue, 05 Dec 2023US$1.1tUS$543.9bUS$53.5b19x20.6x2x
Thu, 02 Nov 2023US$1.0tUS$553.0bUS$51.2b19.1x20.3x1.9x
Sat, 30 Sep 2023US$1.0tUS$554.7bUS$51.7b18.7x19.8x1.8x
Mon, 28 Aug 2023US$1.1tUS$549.7bUS$50.8b19.9x21.7x2x
Price to Earnings Ratio

21.7x


Total Market Cap: US$1.1tTotal Earnings: US$50.8bTotal Revenue: US$549.7bTotal 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 industry is trading close to its 3-year average PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 12% per year over the last three years.
  • Revenues for these companies have grown 2.7% 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-2.09%
Utilities-1.14%
Gas Utilities0.88%
Water Utilities0.33%
Other Utilities-0.83%
Electric Utilities-0.93%
Renewable Energy-5.96%
Industry PE
  • Investors are most optimistic about the Water Utilities industry, which is trading close to its 3-year average PE ratio of 23.8x.
    • Analysts are expecting annual earnings growth of 9.5%, which is higher than its past year's earnings growth of 4.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 25% over the next 5 years.
  • However this is lower than its past earnings growth rate of 39% per year.
  • In contrast, the Other Utilities industry is expected to see its earnings grow by 5.2% 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
EIX Edison InternationalUS$74.665.6%
+US$1.5b		38.7%PE7.7x
PCG PG&EUS$17.962.9%
+US$1.1b		22.4%PE12.9x
SRE SempraUS$87.381.0%
+US$588.5m		7.7%PE25.3x
UGI UGIUS$37.897.5%
+US$564.1m		8.9%PE12.1x
NFG National Fuel GasUS$83.943.0%
+US$231.0m		-3.9%PE11.8x

Latest News

NEE
US$85.03
NextEra Energy
7D
-1.1%
1Y
11.8%
UGI
US$37.89
UGI
7D
7.5%
1Y
8.9%
NRG
US$115.36
NRG Energy
7D
-3.7%
1Y
-20.9%
Narrative Update • Aug 20

NRG: Data Center Policy Risks And Texas Power Projects Will Shape Returns

NRG Energy's updated analyst price target, now framed around a fair value estimate of $120.58 compared to the prior $129.07, reflects analyst caution around election related data center policy risks, even as they continue to reference tighter power market fundamentals and ongoing large load growth initiatives in Texas and other key regions. Analyst Commentary Recent Street research on NRG Energy highlights a split view.
VST
US$138.94
Vistra
7D
-5.1%
1Y
-27.0%
Narrative Update • Aug 20

VST: AI Data Center Power Deals Will Drive Future Nuclear Upside

Analysts have trimmed their average price target for Vistra as fair value estimates eased to about $308 from roughly $314, reflecting slightly higher discount rates, a more cautious profit margin outlook, and ongoing debate around data center related demand and regulatory timing. Analyst Commentary Recent research highlights a mix of caution and optimism around Vistra, with most Street commentary focusing on data center demand, ERCOT related reviews, and the earnings path over the next few years.
TLN
US$316.99
Talen Energy
7D
-11.6%
1Y
-11.4%
Narrative Update • Aug 19

TLN: PJM Tightness And Data Center Contracts Will Support Future Earnings Power

The analyst fair value estimate for Talen Energy has been revised modestly lower from $589.15 to $567.00 as analysts factor in higher perceived risk around data center buildouts and regulatory directives, partly offset by stronger margin assumptions and contracted cash flow support. Analyst Commentary Recent Street research on Talen Energy shows a mixed but generally constructive tone, with several bullish analysts still highlighting growth projects, contracted cash flows and market exposure, even as some price targets are revised lower to reflect project and regulatory risks.
D
US$67.47
Dominion Energy
7D
-1.6%
1Y
10.2%
EIX
US$74.66
Edison International
7D
5.6%
1Y
38.7%
Seeking Alpha • Aug 18

Edison International's SoCal Subsidiary Has 4 PFDs To Consider: 2 Rated Buys

Summary Edison International preferreds offer yield diversification beyond typical financial sector issuers, appealing to investors comfortable with California-only electric utilities. EIX's preferred stock dividends are well-covered, with $107MM in obligations versus $2.9B in net income, and preferreds constitute just 3.1% of the capital structure. The recent credit rating downgrade from BBB to BB explains higher coupons on new SCE preferred issues, reflecting increased perceived risk. I rate EIX a Buy for those seeking a yield premium over other major electric utilities, with the caveat of California-specific risks and interest rate uncertainty. Both the Series L and Series N PFDs get Buy ratings as they should be attractive to investors with different investing goals. Read the full article on Seeking Alpha
CEG
US$272.92
Constellation Energy
7D
-3.4%
1Y
-12.0%
New Narrative • Aug 16

Constellation Energy ($CEG): The Nuclear Scarcity Play Powering the AI Demand Boom

The market is underappreciating how scarce true 24/7 carbon-free baseload has become just as AI data centers and electrification drive the sharpest sustained rise in U.S. power demand in decades. Most investors still treat CEG as a “utility with nuclear exposure.” It is better understood as the owner of the largest, highest-quality fleet of scarce, dispatchable zero-carbon generation that hyperscalers cannot easily replicate or replace.
NFG
US$83.94
National Fuel Gas
7D
3.0%
1Y
-3.9%
Narrative Update • Aug 16

NFG: Ohio Acquisition And Dividend Growth Will Support Higher Future P/E

Analysts have trimmed their price target on National Fuel Gas from $98.50 to $92.00, citing updated assumptions for fair value, discount rate, revenue growth, profit margins, and future P/E that align with the recent reduction in the Street target from $99 to $93. What’s in the News for National Fuel Gas National Fuel Gas reported Q3 2026 adjusted EPS of $1.54, which was slightly below the prior year, and discussed ongoing progress on its Ohio utility acquisition, according to the Q3 2026 earnings call transcript.
DUK
US$122.69
Duke Energy
7D
-1.4%
1Y
-1.2%
SO
US$91.43
Southern
7D
-1.5%
1Y
-3.4%
SRE
US$87.38
Sempra
7D
1.0%
1Y
7.7%
PCG
US$17.96
PG&E
7D
2.9%
1Y
22.4%
AEP
US$125.70
American Electric Power Company
7D
0.3%
1Y
11.1%
ETR
US$107.34
Entergy
7D
0.4%
1Y
20.3%
FE
US$47.18
FirstEnergy
7D
0.7%
1Y
8.5%
Narrative Update • Aug 04

FE: Data Center Demand And Customer Investment Plan Should Support Steady Outlook

Analysts slightly lifted their price target for FirstEnergy to $53.23 from $52.15, citing updated assumptions that include a modest adjustment to revenue growth, a small change in the discount rate, a slightly higher profit margin outlook, and a marginally lower future P/E multiple. What’s in the News for FirstEnergy FirstEnergy utilities now have contracts to serve 6.4 GW of data center load by 2035, which the company expects to support significant revenues once these projects are operational.