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U.S. Utilities Sector Analysis

UpdatedMar 26, 2026
DataAggregated Company Financials
Companies111
  • 7D-2.3%
  • 3M4.6%
  • 1Y17.1%
  • YTD3.9%

Over the last 7 days, the Utilities industry has dropped 2.3%, driven by Constellation Energy declining 6.7%. In the past year, the industry has gained 17%. 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
Fri, 27 Mar 2026US$1.6tUS$567.9bUS$67.5b21x24.1x2.9x
Sun, 22 Feb 2026US$1.7tUS$567.0bUS$69.2b21.6x24.1x2.9x
Tue, 20 Jan 2026US$1.6tUS$556.5bUS$68.6b20.5x22.9x2.8x
Thu, 18 Dec 2025US$1.5tUS$556.5bUS$68.5b19.6x22.1x2.7x
Sat, 15 Nov 2025US$1.6tUS$559.5bUS$68.0b20.4x23.3x2.8x
Mon, 13 Oct 2025US$1.6tUS$549.9bUS$63.6b21.2x25.3x2.9x
Wed, 10 Sep 2025US$1.5tUS$549.2bUS$63.7b20.2x23.1x2.7x
Fri, 08 Aug 2025US$1.5tUS$547.6bUS$62.8b20.8x24.1x2.8x
Sun, 06 Jul 2025US$1.4tUS$540.7bUS$63.8b20.6x22.6x2.7x
Tue, 03 Jun 2025US$1.4tUS$540.1bUS$64.0b20.8x22.5x2.7x
Thu, 01 May 2025US$1.4tUS$528.4bUS$63.8b21.1x21.9x2.6x
Sat, 29 Mar 2025US$1.4tUS$526.8bUS$63.5b20.7x21.4x2.6x
Mon, 24 Feb 2025US$1.4tUS$525.9bUS$62.1b20.6x22.5x2.7x
Wed, 22 Jan 2025US$1.4tUS$528.1bUS$58.6b20.1x23.4x2.6x
Fri, 20 Dec 2024US$1.3tUS$532.1bUS$61.1b19.5x21.3x2.5x
Sun, 17 Nov 2024US$1.4tUS$533.4bUS$61.6b20.5x22.5x2.6x
Tue, 15 Oct 2024US$1.4tUS$522.9bUS$60.5b19.6x22.8x2.6x
Thu, 12 Sep 2024US$1.3tUS$522.9bUS$60.5b19.5x22.1x2.6x
Sat, 10 Aug 2024US$1.3tUS$522.8bUS$62.0b19.3x20.7x2.5x
Mon, 08 Jul 2024US$1.2tUS$517.6bUS$60.4b18x19.8x2.3x
Wed, 05 Jun 2024US$1.2tUS$518.1bUS$60.4b18.5x20.6x2.4x
Fri, 03 May 2024US$1.2tUS$525.5bUS$58.6b18.9x20.2x2.2x
Sun, 31 Mar 2024US$1.2tUS$561.5bUS$56.9b18.5x20.9x2.1x
Tue, 27 Feb 2024US$1.1tUS$532.5bUS$55.0b17.3x19.3x2x
Thu, 25 Jan 2024US$1.1tUS$543.9bUS$53.5b17.9x20x2x
Sat, 23 Dec 2023US$1.1tUS$543.9bUS$53.5b19.2x20.7x2x
Mon, 20 Nov 2023US$1.1tUS$544.5bUS$53.2b18.8x20.3x2x
Wed, 18 Oct 2023US$1.0tUS$549.7bUS$50.8b18.9x20.4x1.9x
Fri, 15 Sep 2023US$1.1tUS$549.8bUS$50.8b20.3x21.9x2x
Sun, 13 Aug 2023US$1.1tUS$549.3bUS$49.6b20.9x22.7x2.1x
Tue, 11 Jul 2023US$1.1tUS$551.7bUS$45.7b20.2x24.8x2.1x
Thu, 08 Jun 2023US$1.1tUS$549.4bUS$46.6b20.4x24.3x2.1x
Sat, 06 May 2023US$1.2tUS$546.9bUS$45.5b20.9x26.2x2.2x
Mon, 03 Apr 2023US$1.2tUS$532.0bUS$45.1b20.9x26.1x2.2x
Price to Earnings Ratio

26.1x


Total Market Cap: US$1.2tTotal Earnings: US$45.1bTotal Revenue: US$532.0bTotal 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 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-0.15%
Utilities-2.31%
Gas Utilities-1.06%
Water Utilities-1.25%
Electric Utilities-2.13%
Other Utilities-2.18%
Renewable Energy-5.74%
Industry PE
  • Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 20.2x.
    • Analysts are expecting annual earnings growth of 11.6%, 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 29% 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 9.1% 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
EXC ExelonUS$48.400.8%
+US$399.0m		9.4%PE17.9x
FE FirstEnergyUS$50.030.7%
+US$196.5m		26.8%PE28.3x
SRE SempraUS$95.540.3%
+US$189.5m		36.4%PE34.8x
ANNA AleAnnaUS$7.1287.9%
+US$135.4m		-0.4%PS17.4x
HE Hawaiian Electric IndustriesUS$14.985.5%
+US$134.6m		34.1%PE21x

Latest News

PCG
US$17.37
PG&E
7D
-4.5%
1Y
1.3%
EXC
US$48.40
Exelon
7D
0.8%
1Y
9.4%

EXC: Regulatory Certainty And Large Load Policies Will Shape Grid Investment Outcomes

The analyst price target for Exelon increases by about $0.44 to $50.88, as analysts incorporate refreshed models and updated estimates across the North American utilities group following recent Q4 results, capital spending plans and sector-wide target revisions. Analyst Commentary Recent research updates show a cluster of upward price target revisions for Exelon, with a range of views on how execution, capital spending and regulatory factors could influence the company’s valuation over time.
NEE
US$91.16
NextEra Energy
7D
-1.4%
1Y
30.2%
SO
US$95.42
Southern
7D
-0.8%
1Y
6.0%
AWK
US$137.51
American Water Works Company
7D
0.3%
1Y
-3.9%

AWK: Pending Essential Utilities Merger Will Shape Neutral Yet Balanced Outlook

Analysts recently raised their price target on American Water Works Company to $139 from $117, highlighting their view that earlier concerns are already reflected in the stock. They also noted that these concerns could be further addressed if the pending Essential Utilities merger is ultimately approved.
WTRG
US$40.79
Essential Utilities
7D
0.8%
1Y
5.5%

WTRG: Pending Merger Path And 2026 Vote Will Shape Risk Balance

Analysts have adjusted their price target on Essential Utilities to $40.60, reflecting updated views on profit margins and P/E assumptions, with some pointing to potential benefits if the proposed merger with American Water gains approval. Analyst Commentary Bullish Takeaways Bullish analysts view the proposed merger path as a potential way to address prior concerns around valuation, with the combined platform seen as better positioned to support the current P/E assumptions behind the updated US$40.60 target.
SRE
US$95.54
Sempra
7D
0.3%
1Y
36.4%

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

Analysts have inched their blended fair value estimate for Sempra to about $102.56 per share, up from $101.50, reflecting slightly lower assumed revenue growth alongside a modestly higher profit margin outlook and a small uptick in the future P/E multiple. What's in the News Sempra issued full-year 2027 earnings guidance, with expected EPS in a range of $5.10 to $5.70.
XEL
US$77.93
Xcel Energy
7D
-2.0%
1Y
12.4%

XEL: Data Center Agreements And Transmission Expansion Will Shape Future Returns

Analysts have nudged their Xcel Energy fair value estimate higher, reflecting a modest increase in the target to $89.76 from $88.94 as they factor in updated price targets and discussion around data center demand, affordability, and political considerations in recent research. Analyst Commentary Recent price target changes around Xcel Energy highlight a mixed but engaged view from the Street, with several firms revisiting their assumptions on valuation, data center exposure, and regulatory risk.
FE
US$50.03
FirstEnergy
7D
0.7%
1Y
26.8%

FE: Future Dividend Plans And Earnings Payouts Will Support Balanced Returns

Analysts have nudged their price target on FirstEnergy higher to about $52.46 from roughly $51.62, reflecting updated assumptions around slightly different revenue growth, profit margin, and future P/E expectations. What's in the News The board declared a quarterly dividend of $0.465 per share of common stock, payable June 1, 2026, to shareholders of record on May 7, 2026, described as a 4.5% increase from the previous quarterly dividend (Key Developments).
NRG
US$146.14
NRG Energy
7D
-9.5%
1Y
52.6%

NRG: Future Cash Returns From LS Power Assets And Dividends Will Matter

Analysts have nudged their fair value estimate for NRG Energy slightly lower to about $202 per share. This reflects updated views on more moderate revenue growth, a somewhat higher profit margin, and a richer future P/E, driven in part by recent research citing the impact of LS Power acquisitions and a more balanced retail and wholesale mix.
CEG
US$295.19
Constellation Energy
7D
-6.7%
1Y
41.1%

Constellation Energy Corp. (CEG): The Nuclear AI Titan – Electrifying the Intelligence Age

Vestra has increased revenue growth from 13.6% to 24.8%.
VST
US$152.30
Vistra
7D
-9.0%
1Y
27.7%
NFG
US$94.68
National Fuel Gas
7D
1.3%
1Y
20.3%
HE
US$14.98
Hawaiian Electric Industries
7D
5.5%
1Y
34.1%

HE: Index Inclusion Will Mask Future Risk From Lower Earnings Multiple

Analysts have raised their price target on Hawaiian Electric Industries by $2.00 to $12.50, citing updated assumptions around discount rates, revenue growth, profit margins, and a lower future P/E multiple as key factors in the revised view. What's in the News Hawaiian Electric Industries, Inc.
PEG
US$80.50
Public Service Enterprise Group
7D
-2.8%
1Y
-0.3%
ANNA
US$7.12
AleAnna
7D
87.9%
1Y
-0.4%