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U.S. Utilities Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies112
  • 7D-1.3%
  • 3M8.5%
  • 1Y20.5%
  • YTD7.0%

Over the last 7 days, the Utilities industry has dropped 2.2%, driven by a pullback from NRG Energy of 11%. Over the past 12 months, the industry was up 21%. 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
Tue, 10 Mar 2026US$1.7tUS$567.9bUS$67.3b21.8x24.9x3x
Thu, 05 Feb 2026US$1.6tUS$558.9bUS$67.7b20.4x23.1x2.8x
Sat, 03 Jan 2026US$1.5tUS$556.5bUS$68.6b19.6x22.2x2.7x
Mon, 01 Dec 2025US$1.6tUS$558.0bUS$68.7b20.7x23.4x2.9x
Wed, 29 Oct 2025US$1.6tUS$550.7bUS$64.0b21.7x25.5x3x
Fri, 26 Sep 2025US$1.5tUS$549.9bUS$63.6b20.8x24.2x2.8x
Sun, 24 Aug 2025US$1.5tUS$549.2bUS$63.7b20.9x23.8x2.8x
Tue, 22 Jul 2025US$1.5tUS$540.6bUS$63.8b21.4x23.2x2.7x
Thu, 19 Jun 2025US$1.4tUS$540.2bUS$64.0b20.4x22x2.6x
Sat, 17 May 2025US$1.4tUS$540.1bUS$64.0b20.9x22.2x2.6x
Mon, 14 Apr 2025US$1.3tUS$526.8bUS$63.6b20.4x21.1x2.5x
Wed, 12 Mar 2025US$1.4tUS$526.8bUS$63.1b19.8x21.5x2.6x
Fri, 07 Feb 2025US$1.4tUS$523.9bUS$60.8b20.2x22.5x2.6x
Sun, 05 Jan 2025US$1.3tUS$523.4bUS$59.9b20.2x22.4x2.6x
Tue, 03 Dec 2024US$1.4tUS$533.3bUS$61.2b21x23.7x2.7x
Thu, 31 Oct 2024US$1.4tUS$524.3bUS$61.8b19.5x22.4x2.6x
Sat, 28 Sep 2024US$1.4tUS$522.9bUS$60.5b20x22.9x2.7x
Mon, 26 Aug 2024US$1.3tUS$522.9bUS$60.5b19.4x21.7x2.5x
Wed, 24 Jul 2024US$1.2tUS$517.6bUS$60.4b19.1x20.5x2.4x
Fri, 21 Jun 2024US$1.2tUS$517.6bUS$60.4b18x19.8x2.3x
Sun, 19 May 2024US$1.3tUS$518.1bUS$60.4b18.7x20.8x2.4x
Tue, 16 Apr 2024US$1.1tUS$528.1bUS$57.4b18.1x19.6x2.1x
Thu, 14 Mar 2024US$1.1tUS$526.3bUS$57.9b17.9x19.1x2.1x
Sat, 10 Feb 2024US$1.1tUS$539.4bUS$54.2b17.7x19.5x2x
Mon, 08 Jan 2024US$1.1tUS$543.9bUS$53.5b19.6x21.2x2.1x
Wed, 06 Dec 2023US$1.1tUS$543.9bUS$53.5b19.1x20.6x2x
Fri, 03 Nov 2023US$1.0tUS$548.3bUS$52.2b19.3x20.1x1.9x
Sun, 01 Oct 2023US$1.0tUS$554.7bUS$51.7b18.7x19.9x1.9x
Tue, 29 Aug 2023US$1.1tUS$549.7bUS$50.8b19.9x21.7x2x
Thu, 27 Jul 2023US$1.2tUS$553.8bUS$47.0b21.5x25.4x2.2x
Sat, 24 Jun 2023US$1.1tUS$551.9bUS$45.7b20x24.8x2.1x
Mon, 22 May 2023US$1.1tUS$549.1bUS$46.5b20.3x24.6x2.1x
Wed, 19 Apr 2023US$1.2tUS$531.9bUS$45.0b21.4x26.5x2.2x
Fri, 17 Mar 2023US$1.2tUS$532.0bUS$45.0b21x25.9x2.2x
Price to Earnings Ratio

25.9x


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 22.4x202420252026
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 24.9x which is higher than its 3-year average PE of 22.4x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 3.0x.
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-1.50%
Utilities-1.31%
Water Utilities1.52%
Other Utilities-0.98%
Gas Utilities-1.08%
Electric Utilities-1.50%
Renewable Energy-2.18%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry, which is trading close to its 3-year average PE ratio of 21.8x.
    • Analysts are expecting annual earnings growth of 10.7%, which is higher than its past year's earnings growth of 6.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings decline of 22% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings grow by 9.0% 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
AWK American Water Works CompanyUS$137.731.7%
+US$447.0m		-7.8%PE24.2x
DTE DTE EnergyUS$148.960.9%
+US$272.2m		12.8%PE21.2x
HTO H2O AmericaUS$58.577.6%
+US$267.7m		5.0%PE23.9x
WTRG Essential UtilitiesUS$40.851.7%
+US$198.2m		0.7%PE18.8x
EXC ExelonUS$49.140.4%
+US$184.1m		13.2%PE18.2x

Latest News

NEE
US$92.01
NextEra Energy
7D
-0.8%
1Y
20.8%
DTE
US$148.96
DTE Energy
7D
0.9%
1Y
12.8%

DTE: Future Earnings And Dividend Will Be Balanced By Equity Offering

Analysts have reiterated their $151.50 price target on DTE Energy, citing unchanged assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. This keeps their outlook and valuation framework effectively steady.
SRE
US$93.51
Sempra
7D
-2.3%
1Y
34.6%

SRE: Long Term EPS Guidance And Dividend Policy Will Support Future Returns

Analysts have raised their price target on Sempra by about $1, reflecting updated assumptions around fair value, profit margins and future P/E, which they view as slightly more supportive for the stock. What's in the News Sempra issued full year 2027 earnings guidance, targeting EPS in a range of $5.10 to $5.70.
XEL
US$82.10
Xcel Energy
7D
-2.0%
1Y
18.4%

XEL: Data Center Agreements And Grid Projects Will Shape Future Returns

The analyst price target for Xcel Energy has been raised by $7 to $91, as analysts cite updated sector views for regulated utilities, recent target revisions from several firms, and evolving expectations related to data center demand and political considerations. Analyst Commentary Recent research on Xcel Energy highlights a mix of optimism and caution as analysts refresh their views on regulated utilities and adjust price targets around sector updates and data center related demand expectations.
PCG
US$18.17
PG&E
7D
-4.9%
1Y
14.2%
CNP
US$43.48
CenterPoint Energy
7D
0.3%
1Y
26.3%

CNP: Future Returns Will Reflect Load Timing Shifts And Regulatory Execution

Our CenterPoint Energy analyst price target edges up to $44.06 from $43.44 as analysts refine forecasts around steadier margins, updated Q4 earnings commentary and ongoing adjustments to long term growth expectations. Analyst Commentary Recent Street research on CenterPoint Energy clusters around a generally constructive view on growth visibility, balanced by questions around capital intensity and regulatory execution.
NRG
US$155.42
NRG Energy
7D
-11.5%
1Y
83.2%

NRG: LS Power Deal Will Likely Overstate Long Term Earnings Upside

Narrative Update: NRG Energy The updated analyst price target for NRG Energy has shifted from about $145 to about $113 as analysts factor in the LS Power acquisition, which they say doubles generation capacity, reshapes the retail and wholesale mix, and adds potential benefits to key financial metrics. Analyst Commentary Recent Street research around NRG Energy focuses on the LS Power asset acquisition, with several firms updating coverage and targets as they incorporate this deal into their models.
ETR
US$104.65
Entergy
7D
-1.9%
1Y
30.1%

ETR: Gulf Coast Demand And Regulation Will Shape Future Balanced Outlook

The analyst price target for Entergy in this update edges higher to about $107, with analysts pointing to refreshed Q4 earnings season estimates, reaffirmed long term EPS growth guidance, and an expanded 2026 to 2029 capital and sales growth plan as key supports for their outlook. Analyst Commentary Bullish and cautious voices are both active around Entergy, with recent research pointing to updated earnings estimates, refreshed long term guidance, and a larger capital plan as key inputs into valuation and risk assessments.
ORA
US$109.85
Ormat Technologies
7D
2.5%
1Y
50.6%

ORA: Long Term Geothermal PPAs Will Support Stronger Medium Term Outlook

Analysts have nudged their price target for Ormat Technologies slightly lower, from $128.60 to $128.00. This adjustment reflects updated assumptions on discount rates, forecast revenue growth, profit margins, and future P/E levels.
CEG
US$322.99
Constellation Energy
7D
-1.3%
1Y
59.7%

CEG: PJM Backstop And Contracting Momentum Will Drive Future Upside

Analysts have adjusted their price targets on Constellation Energy within a wide range, from $330 to $454. This reflects differing views on contracting momentum through 2026 and evolving PJM market developments.
WTRG
US$40.85
Essential Utilities
7D
1.7%
1Y
0.7%
HTO
US$58.57
H2O America
7D
7.6%
1Y
5.0%
AWK
US$137.73
American Water Works Company
7D
1.7%
1Y
-7.8%
MDU
US$21.34
MDU Resources Group
7D
2.4%
1Y
26.4%

MDU: Equity Raise And EPS Guidance Will Shape Future P E Expectations

Analysts have fine tuned their view on MDU Resources Group, with the consensus price target moving slightly as firms adjusted their outlook in response to changes such as Citi's recent $4 increase and BofA's $1 reduction, reflecting updated assumptions on revenue growth, profit margins and future P/E levels. Analyst Commentary Recent research updates around MDU Resources Group highlight a mixed but increasingly cautious tone, as price targets are adjusted to reflect updated views on revenue, margins and acceptable P/E levels.
EIX
US$70.73
Edison International
7D
-5.0%
1Y
24.1%
EXC
US$49.14
Exelon
7D
0.4%
1Y
13.2%

EXC: Regulatory Visibility Through 2027 Will Balance Affordability And Grid Investment Risks

Analysts have nudged our Exelon fair value estimate to $49.94 from $48.75, reflecting modestly higher modeled revenue growth, a slightly stronger profit margin profile, and a small uptick in the assumed future P/E multiple following a series of upward price target revisions across the Street. Analyst Commentary Recent Street research around Exelon has been active, with several price target revisions and rating changes clustering over the past few months.