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U.S. Utilities Sector Analysis

UpdatedFeb 22, 2026
DataAggregated Company Financials
Companies113
  • 7D-0.6%
  • 3M3.7%
  • 1Y16.0%
  • YTD6.3%

The Utilities industry has stayed flat over the last week. As for the the longer term, the industry is up 16% over the past 12 months. 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, 23 Feb 2026US$1.7tUS$567.0bUS$69.2b21.6x24.1x2.9x
Wed, 21 Jan 2026US$1.6tUS$556.5bUS$68.8b20.5x22.8x2.8x
Fri, 19 Dec 2025US$1.5tUS$556.5bUS$68.5b19.6x22.1x2.7x
Sun, 16 Nov 2025US$1.6tUS$559.6bUS$68.1b20.5x23.3x2.8x
Tue, 14 Oct 2025US$1.6tUS$549.9bUS$63.6b21.3x25.3x2.9x
Thu, 11 Sep 2025US$1.5tUS$549.2bUS$63.7b20.2x23.1x2.7x
Sat, 09 Aug 2025US$1.5tUS$548.2bUS$63.6b20.9x24x2.8x
Mon, 07 Jul 2025US$1.4tUS$540.7bUS$63.8b20.6x22.6x2.7x
Wed, 04 Jun 2025US$1.4tUS$540.1bUS$64.0b20.7x22.5x2.7x
Fri, 02 May 2025US$1.4tUS$529.6bUS$64.4b21.1x21.6x2.6x
Sun, 30 Mar 2025US$1.4tUS$526.8bUS$63.5b20.9x21.6x2.6x
Tue, 25 Feb 2025US$1.4tUS$525.5bUS$62.1b20.6x22.5x2.7x
Thu, 23 Jan 2025US$1.4tUS$528.1bUS$58.6b19.7x23.8x2.6x
Sat, 21 Dec 2024US$1.3tUS$532.1bUS$61.1b19.8x21.4x2.5x
Mon, 18 Nov 2024US$1.4tUS$533.4bUS$61.6b20.5x22.5x2.6x
Wed, 16 Oct 2024US$1.4tUS$522.9bUS$60.5b20x23.2x2.7x
Fri, 13 Sep 2024US$1.3tUS$522.9bUS$60.5b19.7x22.1x2.6x
Sun, 11 Aug 2024US$1.3tUS$522.9bUS$60.7b19.4x21.2x2.5x
Tue, 09 Jul 2024US$1.2tUS$517.6bUS$60.4b17.9x19.8x2.3x
Thu, 06 Jun 2024US$1.2tUS$518.1bUS$60.4b18.1x20.6x2.4x
Sat, 04 May 2024US$1.2tUS$524.8bUS$58.2b18.8x20.4x2.3x
Mon, 01 Apr 2024US$1.2tUS$561.5bUS$56.9b18.5x20.9x2.1x
Wed, 28 Feb 2024US$1.1tUS$532.1bUS$55.9b17.6x19x2x
Fri, 26 Jan 2024US$1.1tUS$544.0bUS$53.2b18.2x19.9x1.9x
Sun, 24 Dec 2023US$1.1tUS$543.9bUS$53.5b19.2x20.7x2x
Tue, 21 Nov 2023US$1.1tUS$544.3bUS$53.4b18.8x20.3x2x
Thu, 19 Oct 2023US$1.0tUS$549.7bUS$50.8b18.9x20.2x1.9x
Sat, 16 Sep 2023US$1.1tUS$549.8bUS$50.8b20.3x21.9x2x
Mon, 14 Aug 2023US$1.1tUS$549.3bUS$49.6b20.9x22.7x2.1x
Wed, 12 Jul 2023US$1.1tUS$551.7bUS$45.7b20.5x25.1x2.1x
Fri, 09 Jun 2023US$1.2tUS$549.4bUS$46.6b20.5x24.8x2.1x
Sun, 07 May 2023US$1.2tUS$546.9bUS$45.5b20.9x26.2x2.2x
Tue, 04 Apr 2023US$1.2tUS$532.0bUS$45.1b20.8x25.9x2.2x
Thu, 02 Mar 2023US$1.1tUS$532.0bUS$45.2b19.8x24.5x2.1x
Price to Earnings Ratio

24.5x


Total Market Cap: US$1.1tTotal Earnings: US$45.2bTotal Revenue: US$532.0bTotal 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 2.9x.
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 2.1% 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 Market1.04%
Utilities-0.57%
Gas Utilities-0.31%
Electric Utilities-0.35%
Renewable Energy-0.38%
Other Utilities-0.99%
Water Utilities-2.57%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 75.3x.
    • Analysts are expecting annual earnings growth of 29.5%, 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 25.3x.
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 8.6% 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$294.842.2%
+US$2.3b		3.7%PE39x
NRG NRG EnergyUS$179.184.0%
+US$1.5b		69.1%PE28x
SO SouthernUS$94.30-0.7%
US$1.0b		6.7%PE24.3x
EIX Edison InternationalUS$73.743.2%
+US$877.6m		41.3%PE6.4x
POR Portland General ElectricUS$52.44-2.9%
US$482.1m		18.2%PE21.4x

Latest News

EIX
US$73.74
Edison International
7D
3.2%
1Y
41.3%
EVRG
US$80.26
Evergy
7D
-2.9%
1Y
17.9%
SRE
US$93.55
Sempra
7D
-1.3%
1Y
7.4%

SRE: Refined Profitability And P/E Assumptions Will Support Constructive Future Returns

Analysts have nudged their Sempra price target slightly higher to $100.06 from $99.60, citing small refinements in fair value, profit margin assumptions, and forward P/E expectations. Valuation Changes Fair Value has risen slightly from $99.60 to $100.06, reflecting a modest upward refinement in the model.
NRG
US$179.18
NRG Energy
7D
4.0%
1Y
69.1%

NRG: Future Cash Returns From Gas Assets And Dividends Will Matter

Analysts have nudged their blended price target for NRG Energy higher to $153, reflecting updated assumptions that pair a slightly higher fair value estimate with modest tweaks to revenue growth, profit margin, discount rate, and future P/E expectations. Analyst Commentary Recent Street research around NRG Energy shows a mix of optimism and caution, with price targets moving in both directions and ratings holding steady in the middle of the range.
CNP
US$43.00
CenterPoint Energy
7D
1.1%
1Y
25.4%

CNP: Future Returns Will Reflect AI Power Demand And Regulatory Visibility

CenterPoint Energy's analyst price target has edged higher to $43.44 from $42.50, as analysts point to a modestly higher fair value estimate, updated views on long term load growth and infrastructure plans, and recent research that includes multiple price target raises tied to earnings, regulatory clarity and tax guidance. Analyst Commentary Recent research updates on CenterPoint Energy highlight a mix of optimism around growth and execution, along with some valuation and sector level caution.
NEE
US$92.18
NextEra Energy
7D
-1.7%
1Y
28.8%

NEE: Long Term EPS Roadmap And Data Center Demand Will Matter

Analysts have lifted their fair value estimate for NextEra Energy from $103.00 to $111.00, reflecting updated price targets that point to steadier growth assumptions, slightly higher profit margins, and a richer future P/E multiple supported by recent research highlighting stronger long term EPS ambitions and resilient utility fundamentals. Analyst Commentary Recent research around NextEra Energy is generally constructive, with several bullish analysts adjusting their price targets and ratings in response to the company’s updated long term guidance and perceived earnings power.
SO
US$94.30
Southern
7D
-0.7%
1Y
6.7%

SO: Fair Value Outlook Will Balance Higher Profitability And Slightly Lower Future P/E

Analysts have reduced their price target for Southern by about $1, reflecting updated assumptions about fair value, discount rate, revenue growth, profit margin, and future P/E expectations. Valuation Changes Fair Value was reduced slightly from $99.23 to $98.13, reflecting updated model inputs.
ETR
US$104.02
Entergy
7D
-1.0%
1Y
22.2%
ED
US$109.81
Consolidated Edison
7D
-3.4%
1Y
11.8%
PCG
US$18.36
PG&E
7D
1.1%
1Y
14.8%
DUK
US$126.78
Duke Energy
7D
-1.1%
1Y
9.7%

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

The updated analyst price target for Duke Energy shifts slightly higher to about $136, with recent mixed target moves across firms linking this to adjusted growth, margin, and P/E assumptions rather than a major change in the fundamental story. Analyst Commentary Recent updates from research desks show a mix of small upward and downward price target moves, which keeps the overall narrative on Duke Energy fairly balanced rather than shifting it in a single clear direction.
AWK
US$129.37
American Water Works Company
7D
-3.1%
1Y
-2.5%
POR
US$52.44
Portland General Electric
7D
-2.9%
1Y
18.2%
CEG
US$294.84
Constellation Energy
7D
2.2%
1Y
3.7%

CEG: Nuclear Fleet And Calpine Data Center Deals Will Define Balanced Outlook

Narrative Update Overview The analyst price target for Constellation Energy has shifted by $32.98, as analysts balance Wells Fargo's $18 target cut with TD Cowen's new $440 target. The new target highlights both elevated regulatory risk and potential upside from the Calpine integration and gas PPA deals tied to the nuclear fleet.
EXC
US$47.79
Exelon
7D
-1.4%
1Y
10.1%

Exelon's (NASDAQ:EXC) Shareholders Will Receive A Bigger Dividend Than Last Year

Feb 16
Exelon's (NASDAQ:EXC) Shareholders Will Receive A Bigger Dividend Than Last Year
ATO
US$180.97
Atmos Energy
7D
1.0%
1Y
20.7%

ATO: Future Share Authorization And Governance Changes Will Shape Steady Earnings Outlook

Analysts have slightly trimmed their price target on Atmos Energy to about US$176.82 from roughly US$177.55, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Affirmed fiscal 2026 earnings guidance in a range of US$8.15 to US$8.35 per diluted share, giving investors a reference point for the company’s medium term earnings plans (Corporate Guidance).