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U.S. Utilities Sector Analysis

UpdatedMay 24, 2026
DataAggregated Company Financials
Companies115
  • 7D3.3%
  • 3M-2.6%
  • 1Y12.5%
  • YTD4.2%

Over the last 7 days, the Utilities industry has risen 3.3%, driven by gains from Constellation Energy of 10%. In the same time, NextEra Energy was down 5.2%. This means that the industry has gained 12% over the past year. 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
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
Mon, 03 Jul 2023US$1.1tUS$551.7bUS$45.7b20.3x25x2.1x
Wed, 31 May 2023US$1.1tUS$549.1bUS$46.5b19.9x24x2x
Price to Earnings Ratio

24x


Total Market Cap: US$1.1tTotal Earnings: US$46.5bTotal Revenue: US$549.1bTotal 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 2.8x.
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 2.9% 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 Market1.06%
Utilities3.33%
Renewable Energy6.72%
Other Utilities4.38%
Electric Utilities2.76%
Gas Utilities1.48%
Water Utilities1.37%
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 12.5%, which is higher than its past year's earnings growth of 10.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 3.3% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings grow by 9.5% 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
CEG Constellation EnergyUS$294.0710.1%
+US$9.7b		-1.1%PE28x
VST VistraUS$156.2711.9%
+US$5.6b		-1.2%PE25.7x
D Dominion EnergyUS$67.679.6%
+US$5.2b		20.2%PE20.4x
DUK Duke EnergyUS$125.673.9%
+US$3.7b		7.9%PE19.4x
AEP American Electric Power CompanyUS$131.595.1%
+US$3.5b		27.9%PE19.6x

Latest News

NEE
US$88.55
NextEra Energy
7D
-5.2%
1Y
30.7%
DUK
US$125.67
Duke Energy
7D
3.9%
1Y
7.9%
NRG
US$137.65
NRG Energy
7D
7.7%
1Y
-12.8%
Narrative Update • May 23

NRG: LS Power Capacity Shift Will Reshape Future Margin And Earnings Mix

Analysts have adjusted the fair value estimate for NRG Energy to $274.77 from $282.66 as they factor in updated sector price targets, mixed revisions across firms, and the impact of the LS Power assets acquisition on growth assumptions and valuation inputs. Analyst Commentary Recent research points to a generally constructive stance on NRG Energy, with several bullish analysts highlighting the LS Power assets acquisition, changes in generation capacity, and shifts in the retail and wholesale mix as key factors in their updated views.
ANNA
US$3.21
AleAnna
7D
-6.4%
1Y
-68.3%
AEP
US$131.59
American Electric Power Company
7D
5.1%
1Y
27.9%
OTTR
US$87.35
Otter Tail
7D
-0.5%
1Y
14.7%
CEG
US$294.07
Constellation Energy
7D
10.1%
1Y
-1.1%
SO
US$94.55
Southern
7D
2.2%
1Y
5.5%
Seeking Alpha • May 22

Southern Company: Data Center Demand Is Becoming A Long-Term Growth Driver

Summary Southern Company is rated Buy with a $102 target, offering 9% upside as data center-driven electricity demand accelerates revenue growth. Q1 results exceeded expectations: revenue up 8% YoY, adjusted EPS up 7.3% YoY, with data centers boosting wholesale electric sales by 30%. SO's valuation remains attractive; multiples are at or below five-year averages, and the DCF model assumes a 4.61% revenue CAGR and rising margins through 2030. Balance sheet pressure persists from high net debt ($75B, Net Debt/EBITDA 5.17x), but dividends remain robust; key risks include regulatory changes and capex overruns. Read the full article on Seeking Alpha
NFG
US$80.92
National Fuel Gas
7D
-0.4%
1Y
-1.8%
D
US$67.67
Dominion Energy
7D
9.6%
1Y
20.2%
EXC
US$46.23
Exelon
7D
6.6%
1Y
5.9%
VST
US$156.27
Vistra
7D
11.9%
1Y
-1.2%
HNRG
US$17.96
Hallador Energy
7D
-1.0%
1Y
2.9%
Analysis Article • May 15

There May Be Underlying Issues With The Quality Of Hallador Energy's (NASDAQ:HNRG) Earnings

Unsurprisingly, Hallador Energy Company's ( NASDAQ:HNRG ) stock price was strong on the back of its healthy earnings...
FRVO
US$38.35
Fervo Energy
7D
-6.6%
1Y
n/a
Seeking Alpha • May 14

Fervo Energy: Energized From The Ground

Summary Fervo Energy surged 40% on IPO debut, reflecting investor enthusiasm for its scalable geothermal energy vision. Fervo boasts $7B in contracted revenue, 658MW under PPAs, and high-profile clients like Google, but has yet to commence commercial operations. Significant risks persist: no operational track record, large capital expenditures, technical and economic uncertainties, and concentrated project exposure. Despite compelling clean energy potential, conviction is tempered by execution risk and the need for proven durability and reliability. Read the full article on Seeking Alpha
ELLO
US$22.20
Ellomay Capital
7D
-2.8%
1Y
52.0%
PCYO
US$10.04
Pure Cycle
7D
-4.0%
1Y
-3.1%