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U.S. Utilities Sector Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies110
  • 7D1.7%
  • 3M7.0%
  • 1Y16.3%
  • YTD5.6%

The Utilities industry is up 1.7% in the last week, with Entergy up 11%. In the same time, Constellation Energy was down 7.9%. This takes the industry's 12 month performance to a gain of 16%. Earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Apr 2026US$1.7tUS$567.9bUS$67.5b21.6x24.5x2.9x
Sat, 28 Feb 2026US$1.7tUS$568.2bUS$67.5b22.1x25.2x3x
Mon, 26 Jan 2026US$1.5tUS$556.5bUS$68.6b20.4x22.4x2.8x
Wed, 24 Dec 2025US$1.5tUS$556.5bUS$68.5b19.4x22.1x2.7x
Fri, 21 Nov 2025US$1.6tUS$558.1bUS$68.4b20.2x23x2.8x
Sun, 19 Oct 2025US$1.6tUS$549.9bUS$63.6b21.4x25.7x3x
Tue, 16 Sep 2025US$1.5tUS$549.2bUS$63.7b20.4x23.7x2.7x
Thu, 14 Aug 2025US$1.5tUS$549.0bUS$63.6b20.8x24x2.8x
Sat, 12 Jul 2025US$1.4tUS$540.7bUS$63.8b20.8x22.6x2.7x
Mon, 09 Jun 2025US$1.4tUS$540.1bUS$64.0b20.7x22.2x2.6x
Wed, 07 May 2025US$1.4tUS$536.6bUS$64.0b21x21.9x2.6x
Fri, 04 Apr 2025US$1.4tUS$526.8bUS$63.6b21.1x22x2.7x
Sun, 02 Mar 2025US$1.4tUS$527.4bUS$63.2b20.2x21.8x2.6x
Tue, 28 Jan 2025US$1.4tUS$526.6bUS$58.6b20.1x23.6x2.6x
Thu, 26 Dec 2024US$1.3tUS$523.4bUS$60.0b20.1x22.1x2.5x
Sat, 23 Nov 2024US$1.4tUS$533.4bUS$62.0b21.1x23.1x2.7x
Mon, 21 Oct 2024US$1.4tUS$522.9bUS$60.5b20.1x23.5x2.7x
Wed, 18 Sep 2024US$1.4tUS$522.9bUS$60.5b20.1x22.7x2.6x
Fri, 16 Aug 2024US$1.3tUS$522.9bUS$60.6b19.4x21.3x2.5x
Sun, 14 Jul 2024US$1.2tUS$517.6bUS$60.4b18.9x20.6x2.4x
Tue, 11 Jun 2024US$1.2tUS$518.0bUS$60.4b17.9x20.3x2.4x
Thu, 09 May 2024US$1.2tUS$520.0bUS$59.3b18.8x20.5x2.3x
Sat, 06 Apr 2024US$1.2tUS$561.5bUS$56.9b18.4x20.6x2.1x
Mon, 04 Mar 2024US$1.1tUS$528.5bUS$57.9b17.4x18.6x2x
Wed, 31 Jan 2024US$1.1tUS$544.0bUS$53.2b18.3x20.4x2x
Fri, 29 Dec 2023US$1.1tUS$543.9bUS$53.5b19.4x20.8x2x
Sun, 26 Nov 2023US$1.1tUS$543.9bUS$53.5b18.8x20.3x2x
Tue, 24 Oct 2023US$1.0tUS$549.7bUS$50.8b18.5x19.7x1.8x
Thu, 21 Sep 2023US$1.1tUS$549.8bUS$50.8b20.2x21.9x2x
Sat, 19 Aug 2023US$1.1tUS$549.3bUS$49.6b20.1x22.1x2x
Mon, 17 Jul 2023US$1.2tUS$551.7bUS$45.7b20.8x25.4x2.1x
Wed, 14 Jun 2023US$1.2tUS$551.3bUS$46.4b20.5x24.8x2.1x
Fri, 12 May 2023US$1.2tUS$549.1bUS$46.6b21.1x25.4x2.2x
Sun, 09 Apr 2023US$1.2tUS$532.0bUS$45.0b21.7x26.9x2.3x
Price to Earnings Ratio

26.9x


Total Market Cap: US$1.2tTotal Earnings: US$45.0bTotal Revenue: US$532.0bTotal 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 2.4x 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 Market-0.32%
Utilities1.67%
Other Utilities2.41%
Water Utilities2.19%
Electric Utilities1.41%
Gas Utilities1.36%
Renewable Energy1.27%
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
ETR EntergyUS$113.5810.5%
+US$5.4b		31.1%PE29.6x
NEE NextEra EnergyUS$92.851.9%
+US$3.5b		31.7%PE28.3x
SO SouthernUS$96.942.5%
+US$2.6b		6.2%PE25x
DUK Duke EnergyUS$130.902.1%
+US$2.1b		8.7%PE20.8x
AEP American Electric Power CompanyUS$131.672.6%
+US$1.8b		22.2%PE19.9x

Latest News

AEP
US$131.67
American Electric Power Company
7D
2.6%
1Y
22.2%
ETR
US$113.58
Entergy
7D
10.5%
1Y
31.1%
CEG
US$279.46
Constellation Energy
7D
-7.9%
1Y
30.3%

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.
SRE
US$97.41
Sempra
7D
2.2%
1Y
33.7%
DUK
US$130.90
Duke Energy
7D
2.1%
1Y
8.7%
UGI
US$36.07
UGI
7D
-0.9%
1Y
7.0%

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).
NEE
US$92.85
NextEra Energy
7D
1.9%
1Y
31.7%
SO
US$96.94
Southern
7D
2.5%
1Y
6.2%
XEL
US$79.71
Xcel Energy
7D
2.6%
1Y
12.4%

XEL: Data Center Agreements And Transmission Expansion Will Shape Future Returns

Analysts have nudged their Xcel Energy fair value estimate higher, reflecting a modest increase in the target to $89.76 from $88.94 as they factor in updated price targets and discussion around data center demand, affordability, and political considerations in recent research. Analyst Commentary Recent price target changes around Xcel Energy highlight a mixed but engaged view from the Street, with several firms revisiting their assumptions on valuation, data center exposure, and regulatory risk.
NRG
US$149.90
NRG Energy
7D
-0.8%
1Y
45.7%

NRG: Future Cash Returns From LS Power Assets And Dividends Will Matter

Analysts have nudged their fair value estimate for NRG Energy slightly lower to about $202 per share. This reflects updated views on more moderate revenue growth, a somewhat higher profit margin, and a richer future P/E, driven in part by recent research citing the impact of LS Power acquisitions and a more balanced retail and wholesale mix.
OKLO
US$48.07
Oklo
7D
-13.0%
1Y
111.8%

Advanced Nuclear Policy And Fuel Progress Will Support Long-Term Clean Power And Isotope Demand

Catalysts About Oklo Oklo develops and deploys advanced nuclear reactors, fuel cycle capabilities and radioisotope facilities through an integrated power, fuel and isotopes platform. What are the underlying business or industry changes driving this perspective?
NFG
US$92.87
National Fuel Gas
7D
-1.6%
1Y
16.1%
HNRG
US$15.87
Hallador Energy
7D
-10.0%
1Y
28.9%
ED
US$113.91
Consolidated Edison
7D
3.5%
1Y
4.0%
ELLO
US$24.31
Ellomay Capital
7D
-3.9%
1Y
65.9%
VIVO
US$2.08
VivoPower
7D
-27.3%
1Y
-44.4%