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U.S. Utilities Sector Analysis

UpdatedJul 02, 2026
DataAggregated Company Financials
Companies116
  • 7D-2.0%
  • 3M-3.5%
  • 1Y9.7%
  • YTD2.3%

Over the last 7 days, the Utilities industry has dropped 2.0%, driven by a pullback from Constellation Energy of 12%. Over the past 12 months, the industry was up 9.7%. 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 Jul 2026US$1.6tUS$587.1bUS$69.1b21.6x23.8x2.8x
Sat, 30 May 2026US$1.6tUS$597.8bUS$70.2b21.2x23.2x2.7x
Mon, 27 Apr 2026US$1.7tUS$569.3bUS$69.1b21.8x24.2x2.9x
Wed, 25 Mar 2026US$1.6tUS$567.9bUS$67.5b20.9x23.9x2.8x
Fri, 20 Feb 2026US$1.6tUS$565.8bUS$69.3b21.6x23.7x2.9x
Sun, 18 Jan 2026US$1.6tUS$556.5bUS$68.6b20.5x22.9x2.8x
Tue, 16 Dec 2025US$1.5tUS$558.0bUS$68.7b19.6x22.2x2.7x
Thu, 13 Nov 2025US$1.6tUS$559.5bUS$68.0b20.4x23.6x2.9x
Sat, 11 Oct 2025US$1.6tUS$549.9bUS$63.6b21.2x25.4x2.9x
Mon, 08 Sep 2025US$1.5tUS$549.2bUS$63.7b20.4x23.2x2.7x
Wed, 06 Aug 2025US$1.5tUS$547.0bUS$63.8b20.9x24.2x2.8x
Fri, 04 Jul 2025US$1.4tUS$540.7bUS$63.8b20.6x22.6x2.7x
Sun, 01 Jun 2025US$1.4tUS$540.1bUS$64.0b20.9x22.4x2.7x
Tue, 29 Apr 2025US$1.4tUS$528.6bUS$62.1b20.8x22.2x2.6x
Thu, 27 Mar 2025US$1.4tUS$526.8bUS$63.5b20.5x21.3x2.6x
Sat, 22 Feb 2025US$1.4tUS$525.9bUS$62.1b20.6x22.5x2.7x
Mon, 20 Jan 2025US$1.4tUS$528.1bUS$58.6b19.9x23.4x2.6x
Wed, 18 Dec 2024US$1.3tUS$532.1bUS$61.1b19.8x22x2.5x
Fri, 15 Nov 2024US$1.4tUS$533.4bUS$61.3b20.2x22.4x2.6x
Sun, 13 Oct 2024US$1.4tUS$522.9bUS$60.5b19.6x22.8x2.6x
Tue, 10 Sep 2024US$1.3tUS$522.9bUS$60.5b19.5x22x2.5x
Thu, 08 Aug 2024US$1.3tUS$522.0bUS$60.8b19.4x20.9x2.4x
Sat, 06 Jul 2024US$1.2tUS$517.6bUS$60.4b18x19.8x2.3x
Mon, 03 Jun 2024US$1.3tUS$518.1bUS$60.4b18.3x20.9x2.4x
Wed, 01 May 2024US$1.2tUS$525.8bUS$57.8b18.9x20.2x2.2x
Fri, 29 Mar 2024US$1.2tUS$528.3bUS$57.3b18.5x20.6x2.2x
Sun, 25 Feb 2024US$1.1tUS$534.3bUS$54.4b17.6x19.9x2x
Tue, 23 Jan 2024US$1.1tUS$543.9bUS$53.5b18x20x2x
Thu, 21 Dec 2023US$1.1tUS$543.9bUS$53.5b18.9x21x2.1x
Sat, 18 Nov 2023US$1.1tUS$545.0bUS$53.3b18.8x20.3x2x
Mon, 16 Oct 2023US$1.0tUS$554.7bUS$51.7b19x20.3x1.9x
Wed, 13 Sep 2023US$1.1tUS$549.8bUS$50.8b20.1x21.7x2x
Fri, 11 Aug 2023US$1.1tUS$548.7bUS$49.5b20.9x22.7x2x
Sun, 09 Jul 2023US$1.1tUS$551.7bUS$45.7b20.4x24.9x2.1x
Price to Earnings Ratio

24.9x


Total Market Cap: US$1.1tTotal Earnings: US$45.7bTotal Revenue: US$551.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Utilities Sector Price to Earnings3Y Average 22.2x202420252026
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 22.2x.
  • 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 2.1% 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 Market1.64%
Utilities-2.01%
Water Utilities1.80%
Gas Utilities-0.61%
Other Utilities-1.02%
Electric Utilities-2.13%
Renewable Energy-6.48%
Industry PE
  • Investors are most optimistic about the Water Utilities industry, which is trading close to its 3-year average PE ratio of 24.1x.
    • Analysts are expecting annual earnings growth of 10.0%, which is higher than its past year's earnings growth of 2.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 8.3% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings grow by 9.9% 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$131.791.7%
+US$419.9m		-6.1%PE23.4x
WEC WEC Energy GroupUS$116.220.5%
+US$198.7m		12.0%PE23.1x
ES Eversource EnergyUS$72.200.7%
+US$184.3m		12.0%PE15.5x
IDA IDACORPUS$150.121.9%
+US$157.9m		30.4%PE25.1x
AWR American States WaterUS$83.344.3%
+US$136.0m		7.7%PE24.5x

Latest News

ES
US$72.20
Eversource Energy
7D
0.7%
1Y
12.0%
FRVO
US$29.07
Fervo Energy
7D
-10.5%
1Y
n/a
CEG
US$236.50
Constellation Energy
7D
-11.7%
1Y
-22.9%
WEC
US$116.22
WEC Energy Group
7D
0.5%
1Y
12.0%
Seeking Alpha • 22h

WEC Energy Group: Data Centers Make This Utility Growth Story More Attractive

Summary WEC Energy Group (WEC) is rated a buy, driven by a visible earnings growth runway fueled by surging data-center demand. WEC's $37.5 billion regulated capital plan through 2030 supports management's 7%–8% long-term EPS growth target and robust dividend growth. The Very Large Customer tariff structure mitigates risk by shifting project-specific exposure to hyperscale customers, supporting regulatory approval and earnings visibility. Key risks include regulatory outcomes, tariff terms, and financing execution, but the data-center opportunity and capital plan underpin substantial upside potential. Read the full article on Seeking Alpha
AWK
US$131.79
American Water Works Company
7D
1.7%
1Y
-6.1%
MGEE
US$81.11
MGE Energy
7D
3.0%
1Y
-9.1%
PCG
US$16.57
PG&E
7D
-3.2%
1Y
18.4%
Seeking Alpha • Jun 29

PG&E Continues To Incrementally Improve Its Portfolio

Summary PG&E Corporation is targeting robust EPS growth, aiming for $1.65 in 2026 and $2.33 by 2030, with no new equity issuance. PCG's aggressive wildfire mitigation and infrastructure upgrades, including $15 billion in undergrounding, are designed to reduce risk and improve reliability. Rate base is projected to grow 9% annually, supporting a 20%+ dividend payout ratio and a potential 3% yield by 2030. Execution on capital plans and sustained customer quality improvements are critical for long-term PCG returns amid high rates and reputational challenges. Read the full article on Seeking Alpha
TLN
US$360.79
Talen Energy
7D
-11.1%
1Y
30.6%
VST
US$153.16
Vistra
7D
-6.0%
1Y
-18.1%
PNW
US$106.30
Pinnacle West Capital
7D
0.9%
1Y
17.9%
NEE
US$86.37
NextEra Energy
7D
-1.4%
1Y
18.3%
CWT
US$49.04
California Water Service Group
7D
3.7%
1Y
6.1%
IDA
US$150.12
IDACORP
7D
1.9%
1Y
30.4%
Narrative Update • Jun 25

IDA: Equity Issuance And Utility Repricing Will Shape 2026 Earnings Profile

Analysts have nudged their IDACORP price targets higher, with one firm lifting its view to $152 from $147 as part of a broader reset of North American regulated utility valuations. Others have made smaller target adjustments based on updated assumptions for revenue growth, profit margins and future P/E levels.
D
US$67.79
Dominion Energy
7D
-2.1%
1Y
18.1%
Narrative Update • Jun 25

D: Merger With NextEra And AI Power Demand Will Guide Future Returns

Analysts have slightly raised their price target for Dominion Energy to about $69.33 per share from roughly $69.25, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E that remain broadly consistent with prior estimates. What's in the News NextEra Energy has agreed to acquire Dominion Energy in an all stock transaction valued at about US$66.8b to US$67.4b, creating what is described as the world's largest regulated electric utility.
AWR
US$83.34
American States Water
7D
4.3%
1Y
7.7%
Narrative Update • Jun 24

AWR: Fair Outlook Balances Equity Issuance Overhang With Stable Dividend Track Record

Analysts have maintained their price target for American States Water at $76.00, indicating no changes to assumptions about fair value, discount rate, revenue growth, profit margin, or future P/E expectations. What's in the News American States Water Company reported the successful completion of its US$200 million at the market equity offering program, fully utilizing the maximum aggregate offering capacity under the plan.
XEL
US$79.70
Xcel Energy
7D
-2.2%
1Y
18.0%