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U.S. Utilities Sector Analysis

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies114
  • 7D1.9%
  • 3M-1.8%
  • 1Y12.3%
  • YTD2.0%

The Utilities industry is up 1.9% in the last week, with NextEra Energy up 2.3%. In the same time, Oklo was down 11%. In the last 12 months, the industry was up 12%. 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
Wed, 11 Feb 2026US$1.6tUS$560.9bUS$67.7b20.9x23.2x2.8x
Fri, 09 Jan 2026US$1.5tUS$556.5bUS$68.6b19.6x21.8x2.7x
Sun, 07 Dec 2025US$1.5tUS$558.0bUS$68.7b19.7x22.4x2.8x
Tue, 04 Nov 2025US$1.6tUS$556.4bUS$65.1b21.2x24.4x2.9x
Thu, 02 Oct 2025US$1.6tUS$549.9bUS$63.6b21x24.5x2.8x
Sat, 30 Aug 2025US$1.5tUS$549.2bUS$63.7b20.6x23.5x2.7x
Mon, 28 Jul 2025US$1.5tUS$541.4bUS$64.2b21.6x23.2x2.8x
Wed, 25 Jun 2025US$1.4tUS$540.2bUS$64.0b20.6x22.5x2.7x
Fri, 23 May 2025US$1.4tUS$540.1bUS$64.0b20.7x22.2x2.6x
Sun, 20 Apr 2025US$1.4tUS$526.6bUS$63.6b20.8x21.5x2.6x
Tue, 18 Mar 2025US$1.4tUS$526.8bUS$63.1b20.5x21.8x2.6x
Thu, 13 Feb 2025US$1.4tUS$524.3bUS$61.9b20.5x22.3x2.6x
Sat, 11 Jan 2025US$1.3tUS$528.1bUS$58.6b19.2x22.6x2.5x
Mon, 09 Dec 2024US$1.4tUS$533.3bUS$61.2b20.7x22.8x2.6x
Wed, 06 Nov 2024US$1.4tUS$530.4bUS$63.3b20x21.4x2.6x
Fri, 04 Oct 2024US$1.4tUS$522.9bUS$60.5b19.8x23.4x2.7x
Sun, 01 Sep 2024US$1.3tUS$522.9bUS$60.5b19.5x21.9x2.5x
Tue, 30 Jul 2024US$1.3tUS$518.2bUS$59.8b19.4x20.9x2.4x
Thu, 27 Jun 2024US$1.2tUS$517.6bUS$60.4b17.9x20x2.3x
Sat, 25 May 2024US$1.2tUS$518.1bUS$60.4b18.1x20.4x2.4x
Mon, 22 Apr 2024US$1.1tUS$528.1bUS$57.4b18.7x19.9x2.2x
Wed, 20 Mar 2024US$1.1tUS$527.9bUS$57.4b18.2x19.5x2.1x
Fri, 16 Feb 2024US$1.1tUS$539.1bUS$53.2b18.2x19.9x2x
Sun, 14 Jan 2024US$1.1tUS$543.9bUS$53.5b19x20.8x2x
Tue, 12 Dec 2023US$1.1tUS$543.9bUS$53.5b19.1x20.7x2x
Thu, 09 Nov 2023US$1.1tUS$545.4bUS$53.1b18.6x20.1x2x
Sat, 07 Oct 2023US$1.0tUS$554.7bUS$51.7b18.7x19.7x1.8x
Mon, 04 Sep 2023US$1.1tUS$549.7bUS$50.8b19.7x21.4x2x
Wed, 02 Aug 2023US$1.2tUS$550.6bUS$46.9b20.9x24.7x2.1x
Fri, 30 Jun 2023US$1.1tUS$551.9bUS$45.7b20x24.7x2x
Sun, 28 May 2023US$1.1tUS$549.1bUS$46.5b19.9x24.1x2x
Tue, 25 Apr 2023US$1.2tUS$531.9bUS$45.0b21.8x26.9x2.3x
Thu, 23 Mar 2023US$1.1tUS$532.0bUS$45.0b20x24.8x2.1x
Sat, 18 Feb 2023US$1.2tUS$527.6bUS$47.2b21x25.1x2.2x
Price to Earnings Ratio

25.1x


Total Market Cap: US$1.2tTotal Earnings: US$47.2bTotal Revenue: US$527.6bTotal 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 2.8x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 13% 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 Market0.99%
Utilities1.90%
Renewable Energy3.24%
Other Utilities2.20%
Electric Utilities1.80%
Gas Utilities1.24%
Water Utilities-0.54%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 77.0x.
    • Analysts are expecting annual earnings growth of 29.0%, 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 25.4x.
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 8.5% 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
NEE NextEra EnergyUS$90.832.3%
+US$4.2b		29.1%PE27.7x
PCG PG&EUS$16.759.2%
+US$3.1b		6.1%PE14.2x
VST VistraUS$159.604.3%
+US$2.2b		-4.8%PE56.3x
D Dominion EnergyUS$63.793.8%
+US$2.0b		14.5%PE20.9x
SRE SempraUS$89.703.1%
+US$1.8b		7.5%PE27.8x

Latest News

DUK
US$123.64
Duke Energy
7D
1.6%
1Y
6.0%
OTTR
US$86.93
Otter Tail
7D
-2.2%
1Y
8.8%
SRE
US$89.70
Sempra
7D
3.1%
1Y
7.5%
PCG
US$16.75
PG&E
7D
9.2%
1Y
6.1%

PCG: Cost Of Capital Decision Will Shape Future Returns Outlook

Analysts have raised their average price target for PG&E by US$1, citing updated assumptions around the California cost of capital decision, as well as modest adjustments to expected growth, margins, and future P/E multiples. Analyst Commentary Bullish Takeaways Bullish analysts point to the US$1 price target increase as a sign that updated cost of capital assumptions and modest changes to growth and margins still support their valuation framework for PG&E.
EIX
US$65.46
Edison International
7D
6.5%
1Y
28.8%

EIX: Future Returns Will Be Pressured By California ROE Cut Risk

Analysts have trimmed their average price target on Edison International by about $1 to reflect a slightly lower fair value estimate of $54.00. They have incorporated updated views on California's allowed returns, modestly higher revenue growth assumptions, and a somewhat lower future P/E multiple.
AWK
US$125.03
American Water Works Company
7D
-0.7%
1Y
-0.04%

AWK: Essential Utilities Merger Path Will Shape A More Constructive Outlook

Analysts have trimmed their fair value estimate for American Water Works Company from $143.00 to $138.70, citing slightly higher discount rate assumptions, a modestly lower future P/E outlook, and updated expectations around revenue growth, margins, and the potential impact of the Essential Utilities merger. Analyst Commentary Recent Street research has focused heavily on how the proposed Essential Utilities merger could reshape the risk and reward profile for American Water Works Company.
MDU
US$20.32
MDU Resources Group
7D
-2.8%
1Y
19.6%

Analysts Have Made A Financial Statement On MDU Resources Group, Inc.'s (NYSE:MDU) Yearly Report

Feb 08
Analysts Have Made A Financial Statement On MDU Resources Group, Inc.'s (NYSE:MDU) Yearly Report
D
US$63.79
Dominion Energy
7D
3.8%
1Y
14.5%

D: Offshore Wind Court Win And Stable Outlook Will Support Measured Returns

Analysts have nudged their fair value estimate for Dominion Energy slightly higher, from $63.44 to $63.50. This reflects updated views on discount rate, revenue growth, profit margin and future P/E assumptions, even without new published Street research behind the change.
WTRG
US$37.66
Essential Utilities
7D
-0.6%
1Y
6.4%

WTRG: Pending Merger And Special Meeting Will Shape Bullish Return Profile

Analysts have lowered their price target on Essential Utilities to about US$42.17 from US$43.00. This change reflects updated assumptions for slightly different fair value, discount rate, growth, and margin profiles in light of the potential merger impact highlighted in recent research.
UGI
US$37.66
UGI
7D
-5.9%
1Y
17.2%

UGI: Share Repurchases And Higher Margin Outlook Will Support Future Upside

Analysts have nudged their price target for UGI to $44.50 from $44.00, citing updated assumptions around revenue growth, profit margins and future P/E that slightly adjust their valuation view. What's in the News From July 1, 2025 to September 30, 2025, UGI repurchased 500,000 shares for $16.53 million, representing 0.23% of its shares.
BKH
US$72.40
Black Hills
7D
-2.2%
1Y
20.6%

BKH: Dividend Increase And Wyoming Project Completion Will Support Future Upside Potential

Analysts have lifted their fair value estimate for Black Hills from $75.75 to $80.50, pointing to updated assumptions around discount rates, revenue growth, profit margins, and future P/E as key drivers behind the higher price target. Analyst Commentary Bullish Takeaways Bullish analysts view the higher fair value estimate of $80.50 as better aligned with their updated discount rate assumptions, suggesting the shares may be more fairly priced against the company’s perceived risk profile.
NEE
US$90.83
NextEra Energy
7D
2.3%
1Y
29.1%

NEE: Nuclear Optimism Will Likely Outpace Execution On New Data Center Deals

Narrative Update The updated analyst work trims our fair value estimate for NextEra Energy by a small amount to $70.45, reflecting slightly lower revenue growth assumptions, a modestly higher discount rate, and a future P/E of about 19.2x that remains aligned with the recent series of upward price target revisions from multiple firms. Analyst Commentary Street research on NextEra Energy has leaned constructive on the headline price targets, but there are still some points you should watch closely.
ETR
US$99.71
Entergy
7D
2.4%
1Y
21.6%
OKLO
US$69.47
Oklo
7D
-10.9%
1Y
38.7%
ORA
US$124.02
Ormat Technologies
7D
-4.4%
1Y
95.5%

ORA: Geothermal Projects And Data Center Agreement Will Support Balanced Medium Term Outlook

Analysts have adjusted their price target on Ormat Technologies from US$123.70 to US$126.30, citing updated assumptions for the discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News Ormat was awarded the Telaga Ranu Geothermal Working Area in Halmahera, North Maluku, Indonesia, following a competitive tender with four qualified bidders, securing long term exploration and development rights for a geothermal resource within an approved feed in tariff zone (Key Developments).
VST
US$159.60
Vistra
7D
4.3%
1Y
-4.8%

VST: Long Term Meta Nuclear Agreements Will Support PJM Data Center Demand

Analysts have nudged their average price targets on Vistra higher into a range around $217 to $293, citing recent long term nuclear power agreements with Meta, as well as updated expectations for execution and market conditions as key drivers behind the recalibration. Analyst Commentary Recent Street research around Vistra reflects mixed adjustments to price targets, but the tone from several bullish analysts remains constructive.