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U.S. Utilities Sector Analysis

UpdatedJul 29, 2026
DataAggregated Company Financials
Companies117
  • 7D0.7%
  • 3M-0.9%
  • 1Y6.8%
  • YTD3.6%

Last week, the Utilities industry hasn't moved much but Southern is up 3.1% in that time. As for the the longer term, the industry is up 6.8% over the past 12 months. As for the next few years, earnings are expected to grow by 10% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 29 Jul 2026US$1.7tUS$587.9bUS$70.2b22.3x23.6x2.8x
Fri, 26 Jun 2026US$1.7tUS$587.1bUS$69.1b21.9x24x2.8x
Sun, 24 May 2026US$1.7tUS$597.8bUS$70.2b21.3x23.5x2.8x
Tue, 21 Apr 2026US$1.7tUS$568.0bUS$67.5b21.9x24.8x2.9x
Thu, 19 Mar 2026US$1.7tUS$567.9bUS$67.5b21.4x25x3x
Sat, 14 Feb 2026US$1.6tUS$562.2bUS$67.6b21.8x24.1x2.9x
Mon, 12 Jan 2026US$1.5tUS$556.5bUS$68.6b19.5x22.4x2.8x
Wed, 10 Dec 2025US$1.5tUS$558.0bUS$68.7b19.6x22.2x2.7x
Fri, 07 Nov 2025US$1.6tUS$557.7bUS$66.5b20.3x23.9x2.8x
Sun, 05 Oct 2025US$1.6tUS$549.9bUS$63.6b21.2x24.9x2.9x
Tue, 02 Sep 2025US$1.5tUS$549.2bUS$63.7b20.6x23.4x2.7x
Thu, 31 Jul 2025US$1.5tUS$541.9bUS$64.1b21.6x23.3x2.8x
Sat, 28 Jun 2025US$1.4tUS$540.3bUS$64.0b20.2x22.4x2.7x
Mon, 26 May 2025US$1.4tUS$540.1bUS$64.0b20.8x22.2x2.6x
Wed, 23 Apr 2025US$1.3tUS$526.7bUS$63.6b21.1x21x2.5x
Fri, 21 Mar 2025US$1.4tUS$526.8bUS$63.1b20.7x21.8x2.6x
Sun, 16 Feb 2025US$1.4tUS$525.6bUS$62.0b20.3x22.2x2.6x
Tue, 14 Jan 2025US$1.3tUS$503.3bUS$55.8b19.4x23.5x2.6x
Thu, 12 Dec 2024US$1.4tUS$533.3bUS$61.2b20.4x22.3x2.6x
Sat, 09 Nov 2024US$1.4tUS$534.1bUS$62.6b20.6x21.8x2.6x
Mon, 07 Oct 2024US$1.4tUS$522.9bUS$60.5b19.8x23.3x2.7x
Wed, 04 Sep 2024US$1.3tUS$522.9bUS$60.5b19.7x21.9x2.5x
Fri, 02 Aug 2024US$1.3tUS$518.7bUS$59.5b20.2x21.4x2.5x
Sun, 30 Jun 2024US$1.2tUS$517.6bUS$60.4b18x19.7x2.3x
Tue, 28 May 2024US$1.2tUS$518.1bUS$60.4b18.1x20.6x2.4x
Thu, 25 Apr 2024US$1.2tUS$527.1bUS$57.8b19.1x20.1x2.2x
Sat, 23 Mar 2024US$1.1tUS$528.0bUS$57.4b18.2x19.5x2.1x
Mon, 19 Feb 2024US$1.1tUS$537.1bUS$54.3b18.1x19.8x2x
Wed, 17 Jan 2024US$1.1tUS$543.9bUS$53.5b18.9x20.8x2x
Fri, 15 Dec 2023US$1.1tUS$543.9bUS$53.5b19.4x21.4x2.1x
Sun, 12 Nov 2023US$1.0tUS$545.0bUS$53.3b18.4x19.7x1.9x
Tue, 10 Oct 2023US$1.0tUS$554.7bUS$51.7b18.7x19.9x1.9x
Thu, 07 Sep 2023US$1.1tUS$549.7bUS$50.8b19.4x21.1x2x
Sat, 05 Aug 2023US$1.1tUS$548.4bUS$48.6b20.8x23x2x
Price to Earnings Ratio

23x


Total Market Cap: US$1.1tTotal Earnings: US$48.6bTotal Revenue: US$548.4bTotal 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 13% per year over the last three years.
  • Revenues for these companies have grown 2.3% 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-1.50%
Utilities0.74%
Water Utilities4.13%
Gas Utilities1.93%
Other Utilities1.62%
Electric Utilities1.30%
Renewable Energy-8.33%
Industry PE
  • Investors are most optimistic about the Water Utilities industry, which is trading close to its 3-year average PE ratio of 23.9x.
    • Analysts are expecting annual earnings growth of 9.6%, which is higher than its past year's earnings growth of 4.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings decline of 8.3% per year.
  • In contrast, the Other Utilities industry is expected to see its earnings grow by 6.0% 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$96.783.1%
+US$3.3b		1.7%PE25x
NEE NextEra EnergyUS$89.281.5%
+US$2.8b		24.1%PE20x
DUK Duke EnergyUS$129.242.6%
+US$2.6b		8.2%PE19.9x
EXC ExelonUS$47.313.1%
+US$1.5b		6.8%PE17.4x
AEP American Electric Power CompanyUS$133.021.9%
+US$1.4b		21.8%PE19.8x

Latest News

EXC
US$47.31
Exelon
7D
3.1%
1Y
6.8%
FRVO
US$21.12
Fervo Energy
7D
-21.7%
1Y
n/a
Seeking Alpha • 18h

Fervo Energy Remains Unattractive Even After A 44% Correction From Highs

Summary Fervo Energy Company is initiated at Hold, reflecting a stretched valuation despite ambitious geothermal expansion plans and strong demand signals. FRVO’s Cape Station project targets 100 MW by early 2027 and 500 MW by 2029, with a total site potential of 4.3GW and significant contracted backlog. Despite negligible current revenue, FRVO commands a $7 billion valuation, underpinned by $7.2 billion in binding PPAs and a vast pipeline exceeding 40GW. Valuation concerns persist, with FRVO trading at 80x FY27 and 16x FY29 revenue, and execution risks remain given limited operational history. Read the full article on Seeking Alpha
SO
US$96.78
Southern
7D
3.1%
1Y
1.7%
OKLO
US$39.58
Oklo
7D
-10.3%
1Y
-44.3%
ES
US$75.39
Eversource Energy
7D
3.2%
1Y
13.6%
Narrative Update • Jul 27

ES: Modest Assumption Shifts Will Likely Keep Fair Value Steady

Analysts have raised their price target for Eversource Energy to about $74 from roughly $72, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. What’s in the News for Eversource Energy No recent company specific news items for Eversource Energy were provided in the available sources.
NEE
US$89.28
NextEra Energy
7D
1.5%
1Y
24.1%
VST
US$148.64
Vistra
7D
-8.4%
1Y
-24.9%
Seeking Alpha • Jul 27

Vistra Corp.'s Strategic Edge: Capitalizing On Rising Energy Demand

Summary Vistra Corp. reported record Q1 earnings back in May, reaffirmed 2026 guidance, and sees strong demand growth driven by data centers and hyperscalers. Q2 results will probably set a new record for the quarter. VST's capital allocation prioritizes share repurchases, supported by a $3B buyback/dividend plan and a 10b5-1 repurchase program. Assuming the 2027 EBITDA midpoint and a conservative 12x multiple, VST's fair value is estimated at $200–$222 per share. Read the full article on Seeking Alpha
NRG
US$127.56
NRG Energy
7D
-3.1%
1Y
-20.2%
DUK
US$129.24
Duke Energy
7D
2.6%
1Y
8.2%
AEP
US$133.02
American Electric Power Company
7D
1.9%
1Y
21.8%
AWK
US$138.04
American Water Works Company
7D
4.9%
1Y
-2.1%
CEG
US$259.82
Constellation Energy
7D
-0.9%
1Y
-21.4%
Seeking Alpha • Jul 19

Constellation Energy: The Inventory Is Smaller Than The Gap

Summary Constellation Energy is uniquely positioned with the largest deliverable carbon-free inventory, controlling over half of the US merchant nuclear pool. CEG’s investment case hinges on structural scarcity: its uncontracted nuclear inventory is smaller than the massive data-center-driven supply gap, supporting durable pricing power. Guidance excludes upside from ~147 TWh of uncontracted nuclear, offering a free, unmodeled option potentially worth +$1.5 to $4 EPS over five years. I rate CEG a Buy for its downside-protected, contracted base and mispriced optionality, favoring entry on weakness toward the mid-$250s. Read the full article on Seeking Alpha
CNP
US$44.10
CenterPoint Energy
7D
3.2%
1Y
15.2%
TLN
US$326.05
Talen Energy
7D
-10.9%
1Y
-9.7%
Narrative Update • Jul 16

TLN: PJM Capacity Auction Reliance Will Constrain Upside From Current Levels

Talen Energy's updated analyst price target framework reflects a higher Street range, with several firms lifting targets into the $470 to $508 area. The internal fair value estimate adjusts to $333.82 as analysts temper revenue growth, margin, and future P/E assumptions in light of mixed signals from recent PJM auction outcomes and evolving contracted cash flow expectations.
BEPC
US$32.54
Brookfield Renewable
7D
-4.8%
1Y
-10.7%
Seeking Alpha • Jul 04

Brookfield Renewable Corporation: The Simplification Catalyst May Favor Brookfield Renewable Partners

Summary Brookfield Renewable Corporation is evaluating a merger with Brookfield Renewable Partners to create a single publicly traded entity. BEPC trades at a 7.7% premium to BEP despite identical economic exposure, payments, and platform access, largely due to structural advantages. I rate BEPC a Hold, preferring BEP until the merger terms clarify whether BEPC's premium will be preserved or eliminated. Brookfield Renewable's operational outlook is strong, with robust liquidity, a large development pipeline, and the pending Boralex acquisition supporting long-term growth. Read the full article on Seeking Alpha
ORA
US$98.47
Ormat Technologies
7D
-6.3%
1Y
11.7%