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U.S. Utilities Sector Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies115
  • 7D1.4%
  • 3M-4.1%
  • 1Y12.5%
  • YTD3.7%

The Utilities industry is up 2.6% in the last week, with Constellation Energy up 16%. In the last 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
Thu, 28 May 2026US$1.7tUS$597.7bUS$70.2b21.4x23.6x2.8x
Sat, 25 Apr 2026US$1.7tUS$569.3bUS$69.1b21.8x24.3x2.9x
Mon, 23 Mar 2026US$1.6tUS$567.9bUS$67.5b20.7x23.7x2.8x
Wed, 18 Feb 2026US$1.7tUS$563.7bUS$68.1b21.5x24.5x3x
Fri, 16 Jan 2026US$1.6tUS$556.5bUS$68.6b20.4x22.8x2.8x
Sun, 14 Dec 2025US$1.5tUS$558.0bUS$68.7b19.5x22.2x2.7x
Tue, 11 Nov 2025US$1.6tUS$559.3bUS$68.0b20.1x23.6x2.9x
Thu, 09 Oct 2025US$1.6tUS$549.9bUS$63.6b21.3x25.3x2.9x
Sat, 06 Sep 2025US$1.5tUS$549.2bUS$63.7b20.4x23.2x2.7x
Mon, 04 Aug 2025US$1.5tUS$545.9bUS$63.5b20.8x23.8x2.8x
Wed, 02 Jul 2025US$1.4tUS$540.3bUS$64.0b20.4x22.4x2.7x
Fri, 30 May 2025US$1.4tUS$540.1bUS$64.0b20.7x22.1x2.6x
Sun, 27 Apr 2025US$1.4tUS$528.6bUS$62.1b20.9x22.2x2.6x
Tue, 25 Mar 2025US$1.4tUS$526.8bUS$63.1b20.8x21.8x2.6x
Thu, 20 Feb 2025US$1.4tUS$525.1bUS$62.8b20.8x21.9x2.6x
Sat, 18 Jan 2025US$1.4tUS$528.1bUS$58.6b19.9x23.4x2.6x
Mon, 16 Dec 2024US$1.4tUS$532.1bUS$61.1b20.1x22.2x2.5x
Wed, 13 Nov 2024US$1.4tUS$533.4bUS$61.3b20.4x22.7x2.6x
Fri, 11 Oct 2024US$1.4tUS$522.9bUS$60.5b19.2x22.6x2.6x
Sun, 08 Sep 2024US$1.3tUS$522.9bUS$60.5b19.4x21.8x2.5x
Tue, 06 Aug 2024US$1.3tUS$521.9bUS$60.6b19.4x21.4x2.5x
Thu, 04 Jul 2024US$1.2tUS$517.6bUS$60.4b17.9x19.8x2.3x
Sat, 01 Jun 2024US$1.2tUS$518.1bUS$60.4b18.3x20.5x2.4x
Mon, 29 Apr 2024US$1.2tUS$525.9bUS$57.8b18.5x20x2.2x
Wed, 27 Mar 2024US$1.1tUS$528.0bUS$57.4b18.1x19.6x2.1x
Fri, 23 Feb 2024US$1.1tUS$536.6bUS$54.3b17.5x20x2x
Sun, 21 Jan 2024US$1.1tUS$543.9bUS$53.5b18.1x20.1x2x
Tue, 19 Dec 2023US$1.1tUS$543.9bUS$53.5b19x20.9x2.1x
Thu, 16 Nov 2023US$1.1tUS$545.0bUS$53.4b18.8x20.2x2x
Sat, 14 Oct 2023US$1.0tUS$554.7bUS$51.7b19x20.3x1.9x
Mon, 11 Sep 2023US$1.1tUS$549.8bUS$50.8b19.9x21.5x2x
Wed, 09 Aug 2023US$1.1tUS$547.7bUS$47.7b21x23.5x2x
Fri, 07 Jul 2023US$1.1tUS$551.7bUS$45.7b20.5x25.1x2.1x
Sun, 04 Jun 2023US$1.1tUS$549.2bUS$46.5b20x24.3x2.1x
Price to Earnings Ratio

24.3x


Total Market Cap: US$1.1tTotal Earnings: US$46.5bTotal Revenue: US$549.2bTotal 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 2.5x is lower than the industry's current PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 15% per year over the last three years.
  • Revenues for these companies have grown 2.9% 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 Market1.27%
Utilities1.44%
Renewable Energy7.51%
Water Utilities1.44%
Electric Utilities1.07%
Other Utilities1.00%
Gas Utilities-0.83%
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 12.5%, which is higher than its past year's earnings growth of 10.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 3.3% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings grow by 9.6% 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
VST VistraUS$160.1511.2%
+US$5.4b		-1.4%PE26.4x
CEG Constellation EnergyUS$288.682.6%
+US$2.7b		-6.3%PE27.5x
TLN Talen EnergyUS$379.7810.3%
+US$1.6b		55.3%PS5.3x
EXC ExelonUS$46.192.9%
+US$1.4b		6.7%PE17x
DUK Duke EnergyUS$125.351.2%
+US$1.2b		9.5%PE19.3x

Latest News

NEE
US$87.65
NextEra Energy
7D
-0.7%
1Y
30.4%
CEG
US$288.68
Constellation Energy
7D
2.6%
1Y
-6.3%
VST
US$160.15
Vistra
7D
11.2%
1Y
-1.4%
Narrative Update • May 26

VST: Data Center Power Hype Will Pressure PJM And Gas Deal Execution

Analysts trimmed the updated fair value estimate for Vistra by about $11.80 to $133.54, reflecting a mix of recent price target cuts along with select upward revisions and a slight adjustment to valuation inputs such as revenue growth, profit margin and forward P/E assumptions. Analyst Commentary Recent Street research on Vistra shows a mix of price target increases and cuts, with several firms adjusting their numbers in quick succession.
OKLO
US$67.82
Oklo
7D
8.4%
1Y
22.8%
DUK
US$125.35
Duke Energy
7D
1.2%
1Y
9.5%
NRG
US$138.00
NRG Energy
7D
3.0%
1Y
-11.6%
Narrative Update • May 23

NRG: LS Power Capacity Shift Will Reshape Future Margin And Earnings Mix

Analysts have adjusted the fair value estimate for NRG Energy to $274.77 from $282.66 as they factor in updated sector price targets, mixed revisions across firms, and the impact of the LS Power assets acquisition on growth assumptions and valuation inputs. Analyst Commentary Recent research points to a generally constructive stance on NRG Energy, with several bullish analysts highlighting the LS Power assets acquisition, changes in generation capacity, and shifts in the retail and wholesale mix as key factors in their updated views.
TLN
US$379.78
Talen Energy
7D
10.3%
1Y
55.3%
ETR
US$111.51
Entergy
7D
-0.4%
1Y
36.3%
NFG
US$78.30
National Fuel Gas
7D
-4.8%
1Y
-4.5%
D
US$67.20
Dominion Energy
7D
-0.8%
1Y
20.3%
EXC
US$46.19
Exelon
7D
2.9%
1Y
6.7%
SRE
US$91.26
Sempra
7D
-0.2%
1Y
17.8%
Narrative Update • May 20

SRE: Extended EPS Guidance And Rising Dividend Will Support Future Returns

Analysts have adjusted their Sempra price target to $104.00. The update reflects revised assumptions for revenue growth, profit margin, and a slightly lower future P/E multiple.
OGS
US$81.35
ONE Gas
7D
-1.8%
1Y
10.6%
PEG
US$79.82
Public Service Enterprise Group
7D
2.3%
1Y
2.2%
FRVO
US$37.32
Fervo Energy
7D
-1.8%
1Y
n/a
Seeking Alpha • May 14

Fervo Energy: Energized From The Ground

Summary Fervo Energy surged 40% on IPO debut, reflecting investor enthusiasm for its scalable geothermal energy vision. Fervo boasts $7B in contracted revenue, 658MW under PPAs, and high-profile clients like Google, but has yet to commence commercial operations. Significant risks persist: no operational track record, large capital expenditures, technical and economic uncertainties, and concentrated project exposure. Despite compelling clean energy potential, conviction is tempered by execution risk and the need for proven durability and reliability. Read the full article on Seeking Alpha
SWX
US$88.64
Southwest Gas Holdings
7D
-1.1%
1Y
24.8%