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U.S. Utilities Sector Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies114
  • 7D0.08%
  • 3M-3.3%
  • 1Y11.8%
  • YTD0.2%

In the last week, the Utilities industry is flat overall, with Constellation Energy standing out by going down 6.9%. As for the the longer term, the industry is up 12% 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
Mon, 09 Feb 2026US$1.6tUS$559.9bUS$67.6b20.3x23.2x2.8x
Wed, 07 Jan 2026US$1.5tUS$556.5bUS$68.6b19.7x22.2x2.7x
Fri, 05 Dec 2025US$1.6tUS$558.0bUS$68.7b19.9x22.7x2.8x
Sun, 02 Nov 2025US$1.6tUS$555.8bUS$65.0b21.4x24.5x2.9x
Tue, 30 Sep 2025US$1.5tUS$549.9bUS$63.6b21x24.3x2.8x
Thu, 28 Aug 2025US$1.5tUS$549.2bUS$63.7b20.7x23.6x2.7x
Sat, 26 Jul 2025US$1.5tUS$541.3bUS$64.2b21.6x23.2x2.7x
Mon, 23 Jun 2025US$1.4tUS$540.2bUS$64.0b20.4x22.1x2.6x
Wed, 21 May 2025US$1.4tUS$540.1bUS$64.0b21.1x22.6x2.7x
Fri, 18 Apr 2025US$1.4tUS$526.6bUS$63.6b20.8x21.3x2.6x
Sun, 16 Mar 2025US$1.4tUS$526.8bUS$63.1b20.5x21.8x2.6x
Tue, 11 Feb 2025US$1.4tUS$523.9bUS$60.8b20.4x22.4x2.6x
Thu, 09 Jan 2025US$1.3tUS$528.1bUS$58.6b20.1x22.6x2.5x
Sat, 07 Dec 2024US$1.4tUS$533.3bUS$61.2b20.7x23x2.6x
Mon, 04 Nov 2024US$1.4tUS$525.1bUS$62.6b19.4x21.8x2.6x
Wed, 02 Oct 2024US$1.4tUS$522.9bUS$60.5b20x23.2x2.7x
Fri, 30 Aug 2024US$1.3tUS$522.9bUS$60.5b19.3x21.7x2.5x
Sun, 28 Jul 2024US$1.3tUS$518.2bUS$59.8b19.4x20.9x2.4x
Tue, 25 Jun 2024US$1.2tUS$517.6bUS$60.4b18.3x19.9x2.3x
Thu, 23 May 2024US$1.3tUS$518.1bUS$60.4b18.5x21x2.4x
Sat, 20 Apr 2024US$1.1tUS$528.1bUS$57.4b18.5x19.6x2.1x
Mon, 18 Mar 2024US$1.1tUS$527.9bUS$57.8b17.9x19.1x2.1x
Wed, 14 Feb 2024US$1.0tUS$539.6bUS$54.8b17.3x19.2x1.9x
Fri, 12 Jan 2024US$1.1tUS$543.9bUS$53.5b18.7x21.2x2.1x
Sun, 10 Dec 2023US$1.1tUS$543.9bUS$53.5b19x20.6x2x
Tue, 07 Nov 2023US$1.1tUS$546.7bUS$53.3b18.9x20.3x2x
Thu, 05 Oct 2023US$1.0tUS$554.7bUS$51.7b18.2x19.4x1.8x
Sat, 02 Sep 2023US$1.1tUS$549.7bUS$50.8b19.7x21.4x2x
Mon, 31 Jul 2023US$1.2tUS$550.6bUS$47.1b21.3x25x2.1x
Wed, 28 Jun 2023US$1.1tUS$551.9bUS$45.7b20.3x25.1x2.1x
Fri, 26 May 2023US$1.1tUS$549.1bUS$46.5b20.2x24.4x2.1x
Sun, 23 Apr 2023US$1.2tUS$531.9bUS$45.0b21.7x26.8x2.3x
Tue, 21 Mar 2023US$1.2tUS$532.0bUS$45.0b21x25.8x2.2x
Thu, 16 Feb 2023US$1.2tUS$521.0bUS$48.2b21x24.4x2.3x
Price to Earnings Ratio

24.4x


Total Market Cap: US$1.2tTotal Earnings: US$48.2bTotal Revenue: US$521.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Utilities Sector Price to Earnings3Y Average 22.4x202420252026
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 22.4x.
  • The 3-year average PS ratio of 2.4x 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 12% per year over the last three years.
  • Revenues for these companies have grown 2.4% 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-0.071%
Utilities0.081%
Gas Utilities1.56%
Other Utilities0.98%
Electric Utilities-0.058%
Renewable Energy-1.40%
Water Utilities-3.36%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 72.5x.
    • Analysts are expecting annual earnings growth of 28.9%, which is higher than its past year's earnings decline of 3.5% per year.
  • Investors are most pessimistic about the Water Utilities industry, which is trading below its 3-year average of 25.4x.
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 3.5% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings grow by 8.5% 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
NRG NRG EnergyUS$153.320.5%
+US$3.7b		48.8%PE24x
NEE NextEra EnergyUS$89.471.8%
+US$3.3b		31.1%PE27.3x
PCG PG&EUS$16.406.4%
+US$2.2b		7.0%PE13.9x
D Dominion EnergyUS$62.333.6%
+US$1.8b		14.1%PE20.4x
ATO Atmos EnergyUS$171.383.0%
+US$1.4b		20.3%PE22.7x

Latest News

D
US$62.33
Dominion Energy
7D
3.8%
1Y
12.7%

D: Offshore Wind Court Win And Stable Outlook Will Support Measured Returns

Analysts have nudged their fair value estimate for Dominion Energy slightly higher, from $63.44 to $63.50. This reflects updated views on discount rate, revenue growth, profit margin and future P/E assumptions, even without new published Street research behind the change.
WTRG
US$37.42
Essential Utilities
7D
-2.2%
1Y
7.1%

WTRG: Pending Merger And Special Meeting Will Shape Bullish Return Profile

Analysts have lowered their price target on Essential Utilities to about US$42.17 from US$43.00. This change reflects updated assumptions for slightly different fair value, discount rate, growth, and margin profiles in light of the potential merger impact highlighted in recent research.
UGI
US$37.09
UGI
7D
-7.6%
1Y
17.6%

UGI: Share Repurchases And Higher Margin Outlook Will Support Future Upside

Analysts have nudged their price target for UGI to $44.50 from $44.00, citing updated assumptions around revenue growth, profit margins and future P/E that slightly adjust their valuation view. What's in the News From July 1, 2025 to September 30, 2025, UGI repurchased 500,000 shares for $16.53 million, representing 0.23% of its shares.
ES
US$67.36
Eversource Energy
7D
-0.8%
1Y
11.4%

ES: Dividend Commitment Will Mask Mounting Risk From Lower Future P/E

Analysts have trimmed their fair value estimate for Eversource Energy slightly to about US$59.60 from US$60, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News The Board of Trustees approved a quarterly dividend of $0.7875 per share, payable on March 31, 2026, to shareholders of record on March 5, 2026 (Key Developments).
FE
US$46.63
FirstEnergy
7D
-0.8%
1Y
17.0%

FE: Ohio Grid Investments And Stable Outlook Will Support Balanced Long-Term Returns

Analysts have nudged their price target on FirstEnergy higher to about $50.23, up from $50.00. The change reflects small adjustments to fair value estimates, discount rate assumptions, revenue growth expectations, profit margin forecasts, and future P/E multiples.
NEE
US$89.47
NextEra Energy
7D
3.6%
1Y
28.4%

NEE: Nuclear Optimism Will Likely Outpace Execution On New Data Center Deals

Narrative Update The updated analyst work trims our fair value estimate for NextEra Energy by a small amount to $70.45, reflecting slightly lower revenue growth assumptions, a modestly higher discount rate, and a future P/E of about 19.2x that remains aligned with the recent series of upward price target revisions from multiple firms. Analyst Commentary Street research on NextEra Energy has leaned constructive on the headline price targets, but there are still some points you should watch closely.
ATO
US$171.38
Atmos Energy
7D
3.0%
1Y
20.3%
AEP
US$120.80
American Electric Power Company
7D
2.1%
1Y
19.8%
OKLO
US$71.10
Oklo
7D
-3.4%
1Y
32.3%
DUK
US$121.86
Duke Energy
7D
2.0%
1Y
5.4%

DUK: Battery Storage Buildout And Mixed Views Will Shape Future Profile

The analyst price target for Duke Energy has been trimmed by about $0.53 to roughly $134.71 as analysts factor in slightly adjusted assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent research on Duke Energy shows a mix of price target increases and reductions as analysts recalibrate their views on valuation, execution, and growth assumptions.
AWK
US$124.33
American Water Works Company
7D
-1.8%
1Y
1.0%
CEG
US$261.42
Constellation Energy
7D
-3.5%
1Y
-18.8%

Why We're Not Concerned Yet About Constellation Energy Corporation's (NASDAQ:CEG) 29% Share Price Plunge

Feb 05
Why We're Not Concerned Yet About Constellation Energy Corporation's (NASDAQ:CEG) 29% Share Price Plunge
EIX
US$64.01
Edison International
7D
5.4%
1Y
27.6%
VST
US$149.65
Vistra
7D
-5.5%
1Y
-10.3%

VST: Long Term Meta Nuclear Agreements Will Support PJM Data Center Demand

Analysts have nudged their average price targets on Vistra higher into a range around $217 to $293, citing recent long term nuclear power agreements with Meta, as well as updated expectations for execution and market conditions as key drivers behind the recalibration. Analyst Commentary Recent Street research around Vistra reflects mixed adjustments to price targets, but the tone from several bullish analysts remains constructive.
SO
US$90.08
Southern
7D
2.1%
1Y
5.3%
PCG
US$16.40
PG&E
7D
8.8%
1Y
4.8%

PCG: Cost Of Capital Decision Will Shape Future Earnings Power

Narrative Update Analysts have nudged their PG&E price target higher by about US$1 to roughly US$21.27. They cite updated assumptions for revenue growth, profit margins and future P/E following recent regulatory commentary on California utilities and cost of capital.