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U.S. Utilities Sector Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies110
  • 7D1.6%
  • 3M7.3%
  • 1Y24.8%
  • YTD6.2%

NextEra Energy is up 1.2%, leading the way for the Utilities industry, which has gained 1.6%. During this same period, the Constellation Energy underperformed, falling 8.6%. This takes the industry's 12 month performance to a gain of 25%. 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, 06 Apr 2026US$1.7tUS$568.0bUS$67.5b21.8x24.8x2.9x
Wed, 04 Mar 2026US$1.7tUS$567.9bUS$67.3b22.3x25.3x3x
Fri, 30 Jan 2026US$1.6tUS$558.5bUS$69.1b20.5x22.6x2.8x
Sun, 28 Dec 2025US$1.5tUS$556.5bUS$68.5b19.4x22.2x2.7x
Tue, 25 Nov 2025US$1.6tUS$558.0bUS$68.7b20.4x22.8x2.8x
Thu, 23 Oct 2025US$1.6tUS$549.9bUS$63.6b21.8x25.4x2.9x
Sat, 20 Sep 2025US$1.5tUS$549.9bUS$63.6b20.3x23.6x2.7x
Mon, 18 Aug 2025US$1.5tUS$549.2bUS$63.7b20.5x23.7x2.7x
Wed, 16 Jul 2025US$1.5tUS$540.7bUS$63.8b20.8x22.9x2.7x
Fri, 13 Jun 2025US$1.4tUS$540.1bUS$64.0b20.8x22.2x2.6x
Sun, 11 May 2025US$1.4tUS$538.9bUS$63.6b20.7x22.2x2.6x
Tue, 08 Apr 2025US$1.3tUS$526.8bUS$63.6b19.6x20.6x2.5x
Thu, 06 Mar 2025US$1.4tUS$526.8bUS$63.1b19.9x21.6x2.6x
Sat, 01 Feb 2025US$1.4tUS$527.0bUS$60.4b20x22.6x2.6x
Mon, 30 Dec 2024US$1.3tUS$523.4bUS$60.0b20x22x2.5x
Wed, 27 Nov 2024US$1.4tUS$533.3bUS$61.2b21.4x23.3x2.7x
Fri, 25 Oct 2024US$1.4tUS$523.4bUS$61.4b19.8x23.2x2.7x
Sun, 22 Sep 2024US$1.4tUS$522.9bUS$60.5b20x22.9x2.7x
Tue, 20 Aug 2024US$1.3tUS$522.9bUS$60.6b19.4x21.5x2.5x
Thu, 18 Jul 2024US$1.2tUS$517.6bUS$60.4b19.2x20.4x2.4x
Sat, 15 Jun 2024US$1.2tUS$518.0bUS$60.4b18x20.1x2.3x
Mon, 13 May 2024US$1.2tUS$518.4bUS$60.2b18.7x20.7x2.4x
Wed, 10 Apr 2024US$1.2tUS$528.1bUS$57.4b18.7x20.1x2.2x
Fri, 08 Mar 2024US$1.1tUS$526.3bUS$57.9b17.9x19.2x2.1x
Sun, 04 Feb 2024US$1.1tUS$544.3bUS$53.5b18.6x20.2x2x
Tue, 02 Jan 2024US$1.1tUS$543.9bUS$53.5b19.4x20.9x2.1x
Thu, 30 Nov 2023US$1.1tUS$543.9bUS$53.5b18.7x20.4x2x
Sat, 28 Oct 2023US$1.0tUS$549.9bUS$50.2b18.9x20.3x1.9x
Mon, 25 Sep 2023US$1.1tUS$549.8bUS$50.8b19.7x21.7x2x
Wed, 23 Aug 2023US$1.1tUS$549.3bUS$49.6b20.1x22.1x2x
Fri, 21 Jul 2023US$1.2tUS$551.7bUS$45.7b21.3x25.8x2.1x
Sun, 18 Jun 2023US$1.2tUS$551.4bUS$46.6b20.7x25x2.1x
Tue, 16 May 2023US$1.2tUS$549.1bUS$46.6b20.7x25.3x2.1x
Thu, 13 Apr 2023US$1.2tUS$531.9bUS$45.0b21.7x26.8x2.3x
Price to Earnings Ratio

26.8x


Total Market Cap: US$1.2tTotal Earnings: US$45.0bTotal Revenue: US$531.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Utilities Sector Price to Earnings3Y Average 22.3x202420252026
Current Industry PE
  • Investors are optimistic on the American Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 24.8x which is higher than its 3-year average PE of 22.3x.
  • The 3-year average PS ratio of 2.4x 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 14% per year over the last three years.
  • Revenues for these companies have grown 2.2% 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 Market3.46%
Utilities1.59%
Other Utilities3.00%
Gas Utilities2.55%
Water Utilities1.61%
Electric Utilities1.14%
Renewable Energy-0.17%
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 11.5%, which is higher than its past year's earnings growth of 6.8% 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 9.1% 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$149.806.1%
+US$1.8b		71.7%PE40.3x
ETR EntergyUS$114.573.2%
+US$1.6b		44.4%PE29.8x
NEE NextEra EnergyUS$92.730.7%
+US$1.6b		42.5%PE28.3x
VST VistraUS$151.592.7%
+US$1.4b		47.6%PE68.2x
SRE SempraUS$98.011.5%
+US$934.3m		53.4%PE35.7x

Latest News

XEL
US$80.39
Xcel Energy
7D
1.5%
1Y
19.9%

XEL: Data Center Agreements And Capital Plans Will Shape Future Returns

Analysts have made a modest trim to the consolidated price target on Xcel Energy, with the updated fair value estimate moving by about $0.24 to $89.53. Recent target changes from UBS, Morgan Stanley, RBC Capital, and Barclays reflect fine tuning of assumptions around discount rates, growth, margins, and future P/E levels rather than a shift in the core thesis.
NEE
US$92.73
NextEra Energy
7D
0.7%
1Y
42.5%

NEE: Data Center Power Demand Will Support Long Term EPS Roadmap

Analysts have raised their average price targets on NextEra Energy by a few dollars per share, pointing to stronger expected revenue growth supported by rising power demand from data centers and new generation projects, while still factoring in execution risks around long term EPS goals and gas plant contracts. Analyst Commentary Bullish analysts have been increasing their price targets on NextEra Energy by low single digit dollar amounts, citing stronger expected revenue supported by new generation projects and rising power demand from large load customers such as data centers.
NRG
US$149.80
NRG Energy
7D
6.1%
1Y
71.7%

NRG: LS Power Acquisition And Margin Expansion Will Drive Future Repricing

NRG Energy's updated analyst price target has edged lower to $282.26 from $312.69, as analysts factor in assumptions of slower revenue growth along with higher expected profit margins and a richer future P/E multiple. Analyst Commentary Recent Street research around NRG Energy points to a mix of views, but several high profile firms highlight potential upside tied to execution on recent acquisitions and expectations for stronger profitability.
DUK
US$131.41
Duke Energy
7D
-0.2%
1Y
12.5%

DUK: Data Center Load And Storage Projects Will Support Balanced Future Outlook

Narrative Update The updated analyst price target for Duke Energy is $139. This reflects recent research in which several firms adjusted targets higher or lower as analysts weighed constructive views on the utility's load growth pipeline and regulated exposure against the impact of a roughly 15% share advance since early December.
ETR
US$114.57
Entergy
7D
3.2%
1Y
44.4%

ETR: Gulf Coast Demand And Regulation Will Guide Data Center Capital Plans

Entergy's fair value estimate has moved from $109.15 to $113.56 as analysts lift price targets across the sector, citing updated earnings guidance, increased capital plans, and expectations for continued industrial and data center driven demand. Analyst Commentary Recent research shows a cluster of price target revisions around Entergy, with most firms raising their targets and a smaller group trimming them.
ANNA
US$7.81
AleAnna
7D
-23.7%
1Y
-13.5%
PEG
US$81.05
Public Service Enterprise Group
7D
-0.4%
1Y
5.1%

Public Service Enterprise Group: The Upside Remains Uncompelling

Apr 02
BEPC
US$41.27
Brookfield Renewable
7D
5.9%
1Y
61.8%
VST
US$151.59
Vistra
7D
2.7%
1Y
47.6%
EXC
US$48.94
Exelon
7D
-0.3%
1Y
9.5%
CEG
US$275.16
Constellation Energy
7D
-7.9%
1Y
53.0%

CEG: PJM Contracting Acceleration Through 2026 Will Drive Bullish Outlook

Analysts now set a revised fair value estimate of $330.00 for Constellation Energy, up from $296.83. This reflects updated views on longer term earnings power, slightly higher assumed profit margins, and a richer future P/E multiple, despite more cautious revenue growth assumptions and a recent mix of target cuts and reaffirmed optimism across Street research.
EIX
US$73.59
Edison International
7D
2.4%
1Y
37.2%
SRE
US$98.01
Sempra
7D
1.5%
1Y
53.4%
UGI
US$36.30
UGI
7D
-1.1%
1Y
19.0%

UGI: Expanded Buybacks And Stable Margins Will Support Future Upside

Analysts have kept their UGI price target steady at about $44.50 per share, citing essentially unchanged assumptions for the discount rate, revenue growth, profit margins and future P/E as the basis for maintaining their view. What's in the News From October 1, 2025 to December 31, 2025, UGI repurchased 300,000 shares for $11.54 million, representing 0.14% of shares under its existing buyback program (Key Developments).
AWK
US$137.91
American Water Works Company
7D
-0.7%
1Y
-3.1%

AWK: Pending Essential Utilities Merger Will Shape Neutral Yet Balanced Outlook

Analysts recently raised their price target on American Water Works Company to $139 from $117, highlighting their view that earlier concerns are already reflected in the stock. They also noted that these concerns could be further addressed if the pending Essential Utilities merger is ultimately approved.
NFG
US$94.40
National Fuel Gas
7D
-0.6%
1Y
28.9%