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U.S. Utilities Sector Analysis

UpdatedJul 03, 2026
DataAggregated Company Financials
Companies116
  • 7D-0.4%
  • 3M-1.4%
  • 1Y11.1%
  • YTD4.5%

The Utilities industry has been flat over the last week, but Constellation Energy has lost 9.4%. As for the the longer term, the industry is up 11% over the past 12 months. 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, 03 Jul 2026US$1.6tUS$587.1bUS$69.1b22.1x23.6x2.8x
Sun, 31 May 2026US$1.6tUS$597.7bUS$70.2b21.2x23.1x2.7x
Tue, 28 Apr 2026US$1.7tUS$569.3bUS$69.1b21.8x24.2x2.9x
Thu, 26 Mar 2026US$1.6tUS$567.9bUS$67.5b21x24.1x2.9x
Sat, 21 Feb 2026US$1.7tUS$566.9bUS$69.1b21.6x24x2.9x
Mon, 19 Jan 2026US$1.6tUS$556.5bUS$68.6b20.5x22.9x2.8x
Wed, 17 Dec 2025US$1.5tUS$556.5bUS$68.5b19.4x22.3x2.7x
Fri, 14 Nov 2025US$1.6tUS$559.5bUS$68.0b20.4x23.6x2.9x
Sun, 12 Oct 2025US$1.6tUS$549.9bUS$63.6b21.2x25.3x2.9x
Tue, 09 Sep 2025US$1.5tUS$549.2bUS$63.7b20.2x23.2x2.7x
Thu, 07 Aug 2025US$1.5tUS$547.4bUS$62.9b20.8x24.3x2.8x
Sat, 05 Jul 2025US$1.4tUS$540.7bUS$63.8b20.6x22.6x2.7x
Mon, 02 Jun 2025US$1.4tUS$540.1bUS$64.0b20.9x22.4x2.7x
Wed, 30 Apr 2025US$1.4tUS$528.7bUS$62.3b21.1x22.2x2.6x
Fri, 28 Mar 2025US$1.4tUS$526.8bUS$63.5b20.6x21.4x2.6x
Sun, 23 Feb 2025US$1.4tUS$525.9bUS$62.1b20.6x22.5x2.7x
Tue, 21 Jan 2025US$1.4tUS$528.1bUS$58.6b19.9x23.4x2.6x
Thu, 19 Dec 2024US$1.3tUS$532.1bUS$61.1b19.4x21.9x2.5x
Sat, 16 Nov 2024US$1.4tUS$533.5bUS$61.3b20.4x22.3x2.6x
Mon, 14 Oct 2024US$1.4tUS$522.9bUS$60.5b19.6x22.8x2.6x
Wed, 11 Sep 2024US$1.3tUS$522.9bUS$60.5b19.7x22x2.5x
Fri, 09 Aug 2024US$1.3tUS$521.9bUS$61.7b19.1x20.8x2.5x
Sun, 07 Jul 2024US$1.2tUS$517.6bUS$60.4b18x19.8x2.3x
Tue, 04 Jun 2024US$1.3tUS$518.1bUS$60.4b18.3x20.9x2.4x
Thu, 02 May 2024US$1.2tUS$526.3bUS$57.9b18.8x20.2x2.2x
Sat, 30 Mar 2024US$1.2tUS$528.3bUS$57.3b18.5x20.8x2.3x
Mon, 26 Feb 2024US$1.1tUS$533.5bUS$55.2b17.7x19.6x2x
Wed, 24 Jan 2024US$1.1tUS$543.9bUS$53.5b18.2x20x2x
Fri, 22 Dec 2023US$1.1tUS$543.9bUS$53.5b19x20.6x2x
Sun, 19 Nov 2023US$1.1tUS$545.0bUS$53.3b18.8x20.3x2x
Tue, 17 Oct 2023US$1.1tUS$554.7bUS$51.7b19.1x20.4x1.9x
Thu, 14 Sep 2023US$1.1tUS$549.8bUS$50.8b20x21.9x2x
Sat, 12 Aug 2023US$1.1tUS$549.3bUS$49.6b20.9x22.7x2.1x
Mon, 10 Jul 2023US$1.1tUS$551.7bUS$45.7b20.4x24.9x2.1x
Price to Earnings Ratio

24.9x


Total Market Cap: US$1.1tTotal Earnings: US$45.7bTotal Revenue: US$551.7bTotal 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 2.8x.
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 2.1% 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 Market1.38%
Utilities-0.44%
Water Utilities4.69%
Gas Utilities0.93%
Other Utilities0.57%
Electric Utilities-0.13%
Renewable Energy-8.57%
Industry PE
  • Investors are most optimistic about the Water Utilities industry, which is trading close to its 3-year average PE ratio of 24.1x.
    • Analysts are expecting annual earnings growth of 10.0%, which is higher than its past year's earnings growth of 2.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 8.3% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings grow by 9.9% 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
SO SouthernUS$97.982.2%
+US$2.3b		7.1%PE25.3x
DUK Duke EnergyUS$129.602.0%
+US$1.9b		10.5%PE20x
AWK American Water Works CompanyUS$136.865.3%
+US$1.3b		-2.3%PE24.3x
NEE NextEra EnergyUS$88.340.7%
+US$1.3b		19.6%PE22.5x
ED Consolidated EdisonUS$113.992.9%
+US$1.2b		13.6%PE19.5x

Latest News

AEP
US$138.51
American Electric Power Company
7D
1.1%
1Y
33.4%
Seeking Alpha • 3h

American Electric Power: Buy The Grid Behind The AI Boom

Summary American Electric Power is positioned to benefit from surging data center-driven electricity demand, underpinned by robust contracted load growth. AEP guides for 7–9% earnings growth, supported by a $78 billion five-year capital plan targeting transmission and generation expansion. Shares trade at a forward P/E of 21.8, above the historical average, yet this premium is justified by strong visibility into future growth and contracted demand. I maintain a 'Buy' rating on AEP, citing its unmatched transmission footprint, durable earnings growth, and defensive yield amid execution and regulatory risks. Read the full article on Seeking Alpha
ED
US$113.99
Consolidated Edison
7D
2.9%
1Y
13.6%
AWK
US$136.86
American Water Works Company
7D
5.3%
1Y
-2.3%
ES
US$74.44
Eversource Energy
7D
3.3%
1Y
15.3%
Narrative Update • Jul 02

ES: FERC Return Cut And Aquarion Sale Will Pressure Future Returns

Analysts have trimmed their fair value estimate for Eversource Energy from about $61.18 to $57.38 as they factor in a slightly lower profit margin outlook and a reduced future P/E multiple, partially offset by updated assumptions for revenue growth and the discount rate. What’s in the News for Eversource Energy Eversource Energy completed the US$2.4b sale of Aquarion Water Company to the Aquarion Water Authority, a quasi public entity of Connecticut, with plans to direct about US$1.7b of adjusted net equity proceeds to debt reduction, according to recent company reports.
ORA
US$112.56
Ormat Technologies
7D
-6.2%
1Y
28.3%
FRVO
US$27.79
Fervo Energy
7D
-12.5%
1Y
n/a
CEG
US$239.25
Constellation Energy
7D
-9.4%
1Y
-23.3%
DUK
US$129.60
Duke Energy
7D
2.0%
1Y
10.5%
WEC
US$118.83
WEC Energy Group
7D
1.5%
1Y
13.9%
Seeking Alpha • Jul 01

WEC Energy Group: Data Centers Make This Utility Growth Story More Attractive

Summary WEC Energy Group (WEC) is rated a buy, driven by a visible earnings growth runway fueled by surging data-center demand. WEC's $37.5 billion regulated capital plan through 2030 supports management's 7%–8% long-term EPS growth target and robust dividend growth. The Very Large Customer tariff structure mitigates risk by shifting project-specific exposure to hyperscale customers, supporting regulatory approval and earnings visibility. Key risks include regulatory outcomes, tariff terms, and financing execution, but the data-center opportunity and capital plan underpin substantial upside potential. Read the full article on Seeking Alpha
TLN
US$364.67
Talen Energy
7D
-12.5%
1Y
27.4%
VST
US$151.05
Vistra
7D
-10.0%
1Y
-21.4%
SO
US$97.98
Southern
7D
2.2%
1Y
7.1%
NEE
US$88.34
NextEra Energy
7D
0.7%
1Y
19.6%
CWEN
US$32.76
Clearway Energy
7D
-11.1%
1Y
0.4%
Narrative Update • Jun 26

CWEN: Future Dropdown Pipeline And Equity Funding May Unlock Upside

Analysts have nudged their price targets on Clearway Energy higher into a $45 to $60 range, pointing to updated models that factor in equity issuances tied to additional expected dropdown opportunities later in the decade. Analyst Commentary Recent research updates on Clearway Energy center on how potential future dropdown opportunities and related equity issuances could influence the stock's valuation and execution risk.
NRG
US$136.70
NRG Energy
7D
-7.1%
1Y
-13.7%
PEG
US$81.62
Public Service Enterprise Group
7D
-1.2%
1Y
0.6%
Analysis Article • Jun 20

Public Service Enterprise Group (PEG) Stock Could Be 10.9% Undervalued After Strong Q1 Results

Public Service Enterprise Group (PEG) is back in focus after strong first quarter results, with management reiterating multi year earnings guidance and outlining substantial regulated capital investments that helped steady sentiment following recent valuation driven downgrades. See our latest analysis for Public Service Enterprise Group. At a latest share price of $79.89, Public Service Enterprise Group has seen a 1-day share price return of 0.62% and a 30-day share price return of 1.80%,...