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U.S. Utilities Sector Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies114
  • 7D-0.1%
  • 3M-7.7%
  • 1Y14.8%
  • YTD-0.6%

Over the last 7 days, the Utilities industry has remained flat, although notably NRG Energy declined by 5.7%. As for the the longer term, the industry is up 15% over the past 12 months. 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, 15 Jan 2026US$1.5tUS$556.5bUS$68.6b20x22.5x2.8x
Sat, 13 Dec 2025US$1.5tUS$558.0bUS$68.7b19.5x22.3x2.7x
Mon, 10 Nov 2025US$1.6tUS$559.3bUS$68.0b20.4x23.6x2.9x
Wed, 08 Oct 2025US$1.6tUS$549.9bUS$63.6b21.3x25.2x2.9x
Fri, 05 Sep 2025US$1.5tUS$549.2bUS$63.7b20.5x23.2x2.7x
Sun, 03 Aug 2025US$1.5tUS$545.9bUS$63.5b20.6x23.8x2.8x
Tue, 01 Jul 2025US$1.4tUS$540.3bUS$64.0b20.4x22.4x2.7x
Thu, 29 May 2025US$1.4tUS$540.1bUS$64.0b20.6x22.4x2.7x
Sat, 26 Apr 2025US$1.4tUS$528.6bUS$62.1b20.9x22.3x2.6x
Mon, 24 Mar 2025US$1.4tUS$526.8bUS$63.1b20.6x21.8x2.6x
Wed, 19 Feb 2025US$1.4tUS$525.1bUS$62.8b20.8x21.9x2.6x
Fri, 17 Jan 2025US$1.3tUS$528.1bUS$58.6b19.8x22.8x2.5x
Sun, 15 Dec 2024US$1.4tUS$532.1bUS$61.1b20.1x22.2x2.5x
Tue, 12 Nov 2024US$1.4tUS$533.4bUS$61.3b20.5x22.6x2.6x
Thu, 10 Oct 2024US$1.4tUS$522.9bUS$60.5b19.4x22.8x2.6x
Sat, 07 Sep 2024US$1.3tUS$522.9bUS$60.5b19.4x21.8x2.5x
Mon, 05 Aug 2024US$1.3tUS$521.9bUS$60.6b19.8x21.4x2.5x
Wed, 03 Jul 2024US$1.2tUS$517.6bUS$60.4b17.9x19.6x2.3x
Fri, 31 May 2024US$1.2tUS$518.1bUS$60.4b17.9x20.5x2.4x
Sun, 28 Apr 2024US$1.2tUS$525.9bUS$57.8b18.5x20x2.2x
Tue, 26 Mar 2024US$1.1tUS$528.0bUS$57.4b18.3x19.5x2.1x
Thu, 22 Feb 2024US$1.1tUS$536.6bUS$54.4b18.1x19.7x2x
Sat, 20 Jan 2024US$1.1tUS$543.9bUS$53.5b18.1x20.1x2x
Mon, 18 Dec 2023US$1.1tUS$543.9bUS$53.5b19.2x20.9x2.1x
Wed, 15 Nov 2023US$1.0tUS$545.0bUS$53.4b18.9x19.4x1.9x
Fri, 13 Oct 2023US$1.1tUS$554.7bUS$51.7b18.9x20.4x1.9x
Sun, 10 Sep 2023US$1.1tUS$549.8bUS$50.8b19.9x21.5x2x
Tue, 08 Aug 2023US$1.1tUS$548.4bUS$48.6b20.9x23x2x
Thu, 06 Jul 2023US$1.2tUS$551.7bUS$45.7b20.7x25.4x2.1x
Sat, 03 Jun 2023US$1.1tUS$549.2bUS$46.5b20x24.3x2.1x
Mon, 01 May 2023US$1.2tUS$536.1bUS$47.0b21.5x25.4x2.2x
Wed, 29 Mar 2023US$1.1tUS$532.0bUS$45.0b20.6x25.4x2.2x
Fri, 24 Feb 2023US$1.2tUS$530.5bUS$47.1b20.6x24.5x2.2x
Sun, 22 Jan 2023US$1.2tUS$531.4bUS$50.1b20.9x23.9x2.3x
Price to Earnings Ratio

23.9x


Total Market Cap: US$1.2tTotal Earnings: US$50.1bTotal Revenue: US$531.4bTotal 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 11% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the U.S. Utilities sector?

US Market0.24%
Utilities-0.13%
Water Utilities2.08%
Other Utilities1.04%
Gas Utilities0.59%
Electric Utilities-0.67%
Renewable Energy-0.85%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 126x.
    • Analysts are expecting annual earnings growth of 23.8%, which is higher than its past year's earnings decline of 3.5% per year.
  • Investors are most pessimistic about the Gas Utilities industry, which is trading below its 3-year average of 30.4x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 24% 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
CEG Constellation EnergyUS$330.38-2.4%
US$14.0b		9.8%PE43.7x
NEE NextEra EnergyUS$81.984.6%
+US$7.5b		18.3%PE26.3x
VST VistraUS$168.979.3%
+US$4.9b		-0.1%PE59.6x
SRE SempraUS$91.325.7%
+US$3.2b		10.8%PE28.3x
D Dominion EnergyUS$60.255.6%
+US$2.7b		12.3%PE19.7x

Latest News

NEE
US$81.98
NextEra Energy
7D
4.6%
1Y
18.3%
BEPC
US$38.76
Brookfield Renewable
7D
-0.2%
1Y
51.8%
MNTK
US$1.42
Montauk Renewables
7D
-7.2%
1Y
-65.9%

MNTK: Lower RINs And Higher Capex Will Shape Undervalued Bullish Setup

Analysts have trimmed their price target on Montauk Renewables to $4.00 from $4.50, citing lower assumed valuation multiples tied to softer RINs pricing, higher maintenance capex, slower EBITDA growth and greater cash burn assumptions, along with a higher projected P/E multiple and slightly adjusted discount rate, revenue growth and profit margin inputs in updated models. Analyst Commentary Bearish analysts are signaling a more cautious stance on Montauk Renewables, centering their concerns on the balance between growth expectations, required investment, and current profitability assumptions.
SRE
US$91.32
Sempra
7D
5.7%
1Y
10.8%
AEP
US$118.11
American Electric Power Company
7D
3.9%
1Y
24.2%

AEP: Data Center Demand And Grid Investments Will Shape Balanced Outlook

Analysts have nudged their price targets on American Electric Power higher into a roughly $117 to $133 range, pointing to a solid balance sheet, a large planned capital program, exposure to rising power demand including data centers, and constructive regulatory support as key reasons for the updated valuations. Analyst Commentary Recent research on American Electric Power Company shows a mix of optimism around growth opportunities and prudence around valuation and execution risk.
NWN
US$46.48
Northwest Natural Holding
7D
-0.7%
1Y
18.1%

NWN: Stable Guidance And Completed Buyback Will Support Undervalued Share Price

Analysts have kept their price target for Northwest Natural Holding steady at about $52.75, reflecting only immaterial model tweaks to discount rate, revenue growth, profit margin and future P/E assumptions, rather than a change in their overall view of the stock. What's in the News Northwest Natural Holding reported that from July 1, 2025 to September 30, 2025, it repurchased 0 shares for $0 million, and that the buyback program announced on May 29, 2024 has been completed with a total of 0 shares repurchased for $0 million (Key Developments).
D
US$60.25
Dominion Energy
7D
5.6%
1Y
12.3%

D: Offshore Wind Project And Earnings Guidance Will Support Measured Forward Returns

Analysts have slightly increased their price target for Dominion Energy, raising fair value from about $63.73 to roughly $63.81 as they incorporate expectations for modestly higher revenue, a slightly higher future P/E multiple, and a small adjustment to anticipated profit margins. What's in the News Dominion Energy highlighted the Coastal Virginia Offshore Wind Project as critical for U.S. national security and meeting what it describes as Virginia’s rapidly growing energy demand.
CEG
US$330.38
Constellation Energy
7D
-2.4%
1Y
9.8%
DUK
US$118.68
Duke Energy
7D
2.1%
1Y
11.5%
AES
US$14.00
AES
7D
-3.1%
1Y
18.9%
TXNM
US$59.10
TXNM Energy
7D
-0.05%
1Y
22.0%

TXNM: Pending Blackstone Takeover And Dividend Policy Will Shape Future Returns

Narrative Update on TXNM Energy The analyst price target for TXNM Energy has shifted slightly higher to about $60.79 from $60.63, as analysts align their models more closely with the recently cited $61.25 per share takeout reference and adjust assumptions around revenue growth, margins, and future P/E. Analyst Commentary Recent research on TXNM Energy has centered on the proposed Blackstone Infrastructure takeover at $61.25 per share, with current ratings and price targets largely anchored to that reference point.
VST
US$168.97
Vistra
7D
9.3%
1Y
-0.1%

VST: Data Center Demand Will Drive Long-Term Power Pricing Upside

The analyst price target for Vistra has inched higher to approximately $233 per share from about $231, as analysts factor in a slightly lower discount rate, a modestly stronger margin outlook, and supportive sector research highlighting rising power prices and data-center-driven demand for electric utilities. Analyst Commentary Bullish analysts remain constructive on Vistra, highlighting that the combination of rising power prices, data center demand, and improving cash flows supports a premium valuation versus historical levels.
OKLO
US$95.97
Oklo
7D
-1.7%
1Y
297.1%
WAVE
US$5.90
Eco Wave Power Global
7D
-2.1%
1Y
-39.2%
SO
US$88.42
Southern
7D
2.5%
1Y
7.4%

SO: Composite Equity Units Offering Will Support Future Shareholder Value Upside

Analysts have modestly lowered their price target on Southern by approximately $0.10 to reflect a slightly higher discount rate and marginally less favorable long term valuation assumptions, while leaving core growth and profitability expectations essentially unchanged. What's in the News Southern has completed a $1.75 billion composite equity units offering, issuing 35 million equity derivative units priced at $50 per unit, with a $0.875 discount per security (Key Developments).