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U.S. Utilities Sector Analysis

UpdatedApr 27, 2026
DataAggregated Company Financials
Companies110
  • 7D0.6%
  • 3M6.1%
  • 1Y18.3%
  • YTD6.3%

Last week, the Utilities industry hasn't moved much but NextEra Energy is up 3.6% in that time. The past year has been better, since the industry has gained 19% in that time. As for the next few years, earnings are expected to grow by 12% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Apr 2026US$1.7tUS$569.3bUS$69.1b21.8x24.2x2.9x
Wed, 25 Mar 2026US$1.6tUS$567.9bUS$67.5b20.9x23.9x2.8x
Fri, 20 Feb 2026US$1.6tUS$565.8bUS$69.3b21.6x23.7x2.9x
Sun, 18 Jan 2026US$1.6tUS$556.5bUS$68.6b20.5x22.9x2.8x
Tue, 16 Dec 2025US$1.5tUS$558.0bUS$68.7b19.6x22.2x2.7x
Thu, 13 Nov 2025US$1.6tUS$559.5bUS$68.0b20.4x23.6x2.9x
Sat, 11 Oct 2025US$1.6tUS$549.9bUS$63.6b21.2x25.4x2.9x
Mon, 08 Sep 2025US$1.5tUS$549.2bUS$63.7b20.4x23.2x2.7x
Wed, 06 Aug 2025US$1.5tUS$547.0bUS$63.8b20.9x24.2x2.8x
Fri, 04 Jul 2025US$1.4tUS$540.7bUS$63.8b20.6x22.6x2.7x
Sun, 01 Jun 2025US$1.4tUS$540.1bUS$64.0b20.9x22.4x2.7x
Tue, 29 Apr 2025US$1.4tUS$528.6bUS$62.1b20.8x22.2x2.6x
Thu, 27 Mar 2025US$1.4tUS$526.8bUS$63.5b20.5x21.3x2.6x
Sat, 22 Feb 2025US$1.4tUS$525.9bUS$62.1b20.6x22.5x2.7x
Mon, 20 Jan 2025US$1.4tUS$528.1bUS$58.6b19.9x23.4x2.6x
Wed, 18 Dec 2024US$1.3tUS$532.1bUS$61.1b19.8x22x2.5x
Fri, 15 Nov 2024US$1.4tUS$533.4bUS$61.3b20.2x22.4x2.6x
Sun, 13 Oct 2024US$1.4tUS$522.9bUS$60.5b19.6x22.8x2.6x
Tue, 10 Sep 2024US$1.3tUS$522.9bUS$60.5b19.5x22x2.5x
Thu, 08 Aug 2024US$1.3tUS$522.0bUS$60.8b19.4x20.9x2.4x
Sat, 06 Jul 2024US$1.2tUS$517.6bUS$60.4b18x19.8x2.3x
Mon, 03 Jun 2024US$1.3tUS$518.1bUS$60.4b18.3x20.9x2.4x
Wed, 01 May 2024US$1.2tUS$525.8bUS$57.8b18.9x20.2x2.2x
Fri, 29 Mar 2024US$1.2tUS$528.3bUS$57.3b18.5x20.6x2.2x
Sun, 25 Feb 2024US$1.1tUS$534.3bUS$54.4b17.6x19.9x2x
Tue, 23 Jan 2024US$1.1tUS$543.9bUS$53.5b18x20x2x
Thu, 21 Dec 2023US$1.1tUS$543.9bUS$53.5b18.9x21x2.1x
Sat, 18 Nov 2023US$1.1tUS$545.0bUS$53.3b18.8x20.3x2x
Mon, 16 Oct 2023US$1.0tUS$554.7bUS$51.7b19x20.3x1.9x
Wed, 13 Sep 2023US$1.1tUS$549.8bUS$50.8b20.1x21.7x2x
Fri, 11 Aug 2023US$1.1tUS$548.7bUS$49.5b20.9x22.7x2x
Sun, 09 Jul 2023US$1.1tUS$551.7bUS$45.7b20.4x24.9x2.1x
Tue, 06 Jun 2023US$1.1tUS$549.1bUS$46.5b20x24.3x2.1x
Thu, 04 May 2023US$1.2tUS$539.2bUS$48.3b21.3x24.4x2.2x
Price to Earnings Ratio

24.4x


Total Market Cap: US$1.2tTotal Earnings: US$48.3bTotal Revenue: US$539.2bTotal 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 2.9x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 13% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the U.S. Utilities sector?

US Market0.33%
Utilities0.55%
Renewable Energy2.26%
Electric Utilities0.78%
Gas Utilities0.012%
Other Utilities-0.28%
Water Utilities-0.43%
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 11.2%, which is higher than its past year's earnings growth of 7.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 28% 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 9.3% 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
NEE NextEra EnergyUS$95.283.6%
+US$6.8b		43.9%PE24.3x
CEG Constellation EnergyUS$313.535.8%
+US$6.3b		40.6%PE49x
VST VistraUS$164.353.0%
+US$1.6b		26.8%PE74x
TLN Talen EnergyUS$364.325.2%
+US$819.8m		70.7%PS6.3x
OKLO OkloUS$71.006.3%
+US$727.3m		199.1%PB8.3x

Latest News

AEE
US$111.12
Ameren
7D
-1.4%
1Y
13.1%

AEE: Data Center Demand And Dividend Policy Will Shape Future Returns

Ameren's updated analyst price target edges up from about $117 to roughly $120.53, as analysts factor in modestly higher modeled revenue growth and a slightly richer future P/E multiple, while keeping profit margin assumptions broadly stable. Analyst Commentary Recent price target moves around Ameren reflect a mix of optimism and caution, with several firms adjusting their models on valuation, execution and growth assumptions.
AEP
US$134.73
American Electric Power Company
7D
0.8%
1Y
26.2%

AEP: Data Center Backlog And Grid Spend Will Guide Balanced Outlook

Analysts have nudged their blended price target for American Electric Power higher to reflect modestly adjusted fair value and revenue growth assumptions, supported by a series of recent target increases across the Street despite one small reduction. Analyst Commentary Recent research on American Electric Power Company reflects an overall constructive tone, with multiple firms adjusting price targets and ratings as they refresh models after the latest earnings season and sector reviews.
EIX
US$68.86
Edison International
7D
-2.7%
1Y
18.8%
PCG
US$16.61
PG&E
7D
-3.8%
1Y
-3.1%
NEE
US$95.28
NextEra Energy
7D
3.6%
1Y
43.9%
OKLO
US$71.00
Oklo
7D
6.3%
1Y
199.1%

Oklo: Positioned To Power The AI Infrastructure Boom

Apr 24
NRG
US$159.81
NRG Energy
7D
-4.7%
1Y
47.5%
CMS
US$76.27
CMS Energy
7D
-1.0%
1Y
5.2%
D
US$62.58
Dominion Energy
7D
0.6%
1Y
16.4%

D: Extended EPS Guidance And Modest Fair Value Shift Will Support Steady Returns

Analysts have slightly raised Dominion Energy's implied fair value by about $0.54 per share. This reflects small adjustments to projected revenue growth, profit margins, and future P/E assumptions in their updated price target work.
DTE
US$146.88
DTE Energy
7D
0.7%
1Y
8.2%

DTE: Future Earnings And Dividend Will Be Balanced By Legal Settlement Risk

Analysts now see DTE Energy's fair value at about $158.35 per share, up from roughly $155.04. They cite updated assumptions around revenue growth, profit margins and a modestly higher future P/E multiple.
XEL
US$79.15
Xcel Energy
7D
-2.4%
1Y
14.7%

XEL: Data Center Load Agreements And Grid Investments Will Shape Future Returns

Analysts have nudged Xcel Energy's price target higher by $2 to $91, reflecting updated assumptions around revenue growth, profit margins and future P/E. Recent Street research highlights refreshed views on utilities, evolving data center demand and shifting affordability and political considerations.
DUK
US$127.27
Duke Energy
7D
-0.5%
1Y
5.5%

DUK: Data Center Load And New Gas Project Will Shape Balanced Outlook

The analyst price target for Duke Energy has shifted higher, rising about $1.50 to $139.82 as analysts factor in updated assumptions for revenue growth, profit margins and future P/E following a series of recent target revisions across the Street. Analyst Commentary Recent research updates on Duke Energy show a mix of higher price targets and at least one rating downgrade.
TLN
US$364.32
Talen Energy
7D
5.2%
1Y
70.7%

TLN: Data Center And Nuclear Projects Will Shape A Cautious Balanced Outlook

Analysts have adjusted their price targets on Talen Energy, citing updated assumptions for fair value to $388.56, a higher discount rate, stronger modeled revenue growth, slightly lower profit margins, and a modestly lower future P/E multiple based on recent research updates across the Street. Analyst Commentary Recent Street research on Talen Energy shows a mix of views, with both bullish and bearish analysts adjusting their assumptions around fair value, discount rates, and earnings power.
CEG
US$313.53
Constellation Energy
7D
5.8%
1Y
40.6%

CEG: PJM Reliability Shifts And Contracting Acceleration Will Drive Future Upside

The analyst price target for Constellation Energy has been trimmed by about $15 to reflect updated views on long term earnings visibility and valuation, as analysts weigh slightly lower fair value estimates against revised expectations for revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent research on Constellation Energy reflects a mix of trimmed and increased price targets, with many firms updating models around long term earnings visibility, contracting timelines, and regulatory developments in key power markets.
VST
US$164.35
Vistra
7D
3.0%
1Y
26.8%

VST: Long Term Nuclear Contracts Will Support PJM Demand And Undervalued Upside

Analysts have updated their view on Vistra with a higher fair value estimate, moving from $293.00 to $318.00. They cite recent mixed but generally supportive price target adjustments and ongoing confidence in the company story across several research firms.
BEPC
US$41.21
Brookfield Renewable
7D
-2.5%
1Y
43.2%