Sector AnalysisETF: XLUUpdated Jun 21, 2026

Utilities Sector Stocks

Utilities includes regulated electric, gas, and water companies along with independent power businesses. Investors treat it as a defensive income sector for its stable demand and recurring dividends, but utilities are sensitive to interest rates, regulation, and capital spending needs. XLU is the standard benchmark. Screening helps compare yield, balance sheet risk, and valuation rather than treating every utility alike.

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Research ByVCP Scanner Editorial Team

Performance Dashboard

How the Utilities Sector sector has traded against the market

Track the XLU sector ETF performance vs S&P 500. The basket shows equal-weight returns of top 50 stocks by market cap.

XLU +10.2%SPY +24.4%Basket +19.8%

XLU Sector ETFS&P 500Equal-weight sector basket (top 50)

Top 1M Performers

Momentum

TLN$436.29

Talen Energy Corporation

+34.5%

YTD +10%$19.94B

VST$163.75

Vistra Corp.

+19.7%

YTD -1%$55.21B

GEV$1109.73

GE Vernova Inc.

+9.6%

YTD +63%$298.21B

NRG$135.06

NRG Energy, Inc.

+7.6%

YTD -19%$28.5B

EIX$71.89

Edison International

+5%

YTD +18%$27.66B

Bottom 1M Performers

Pressure

SBS$5.25

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

-10.3%

YTD +8%$17.94B

AXIA$9.98

AXIA Energia S.A.

-8.2%

YTD +8%$22.45B

NGG$79.44

National Grid plc

-5.2%

YTD +1%$79.05B

ATO$170.11

Atmos Energy Corporation

-4.7%

YTD +0%$28.39B

SOJC$20.93

The Southern Company JR 2017B NT 77

-3%

YTD -4%$20.92B

Loading performance data...

Live Screener

Rank the Utilities Sector Stocks with live market and fundamental data

Scan the sector leaders, compare valuations and fundamentals, then open the full screener to refine your criteria.

Quick screens:Large Cap Utilities→Dividend Utilities→Profitable Utilities→Growth Utilities→

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Compare Top 3 Open Screener

Ticker	Company	Price	Mkt Cap	P/E	ROE	Div Yield
GEV	GE Vernova Inc.	$1109.73	$298.21B	62.7	42.7%	0.1%
NEE	NextEra Energy, Inc.	$86.75	$180.9B	26.4	10.7%	2.6%
SO	The Southern Company	$93.09	$104.94B	23.7	11.5%	2.9%
CEG	Constellation Energy Corporation	$274.06	$98.99B	37.0	16.3%	0.6%
DUK	Duke Energy Corporation	$123.86	$96.56B	19.6	9.5%	3.4%
NGG	National Grid plc	$79.44	$79.05B	18.2	8.5%	2.8%
AEP	American Electric Power Company, Inc.	$127.69	$69.48B	19.2	12.1%	3%
D	Dominion Energy, Inc.	$68.39	$60.12B	19.8	9.4%	3.9%
SRE	Sempra	$90.69	$59.28B	33.0	4.6%	2.7%
VST	Vistra Corp.	$163.75	$55.21B	74.1	17.7%	0.5%
ETR	Entergy Corporation	$111.11	$50.87B	28.4	10.9%	2.1%
XEL	Xcel Energy Inc.	$77.41	$48.32B	22.6	9.4%	2.8%
EXC	Exelon Corporation	$45.81	$46.87B	16.7	9.9%	3.5%
PEG	Public Service Enterprise Group Incorporated	$79.89	$39.84B	19.0	12.8%	3.1%
ED	Consolidated Edison, Inc.	$106.36	$39.2B	18.9	8.8%	3.1%
WEC	WEC Energy Group, Inc.	$112.17	$36.54B	23.2	11.6%	3.1%
PCG	PG&E Corporation	$16.48	$36.29B	14.0	8.6%	0.6%
DTE	DTE Energy Company	$147.56	$30.7B	20.9	12.2%	2.9%
AEE	Ameren Corporation	$108.67	$30.06B	20.3	11.3%	2.6%
NRG	NRG Energy, Inc.	$135.06	$28.5B	33.7	41.5%	1.5%
FTS	Fortis Inc.	$56.09	$28.46B	23.3	7%	1.9%
ATO	Atmos Energy Corporation	$170.11	$28.39B	22.8	9.3%	2%
CNP	CenterPoint Energy, Inc.	$42.82	$27.96B	26.8	9.6%	2%
EIX	Edison International	$71.89	$27.66B	6.2	24.6%	4.6%
FE	FirstEnergy Corp.	$46.45	$26.87B	26.4	7.4%	3.8%
PPL	PPL Corporation	$35.38	$26.62B	22.1	8.2%	3%
ES	Eversource Energy	$69.59	$26.16B	15.3	10.7%	4.2%
AWK	American Water Works Company, Inc.	$125.07	$24.42B	21.9	10.5%	2.6%
CMS	CMS Energy Corporation	$73.38	$22.67B	20.8	11.6%	3%
NI	NiSource Inc.	$47.26	$22.66B	24.2	8.3%	2.4%

GEV

GE Vernova Inc.

$1109.73Price

Mkt Cap$298.21B

P/E62.7

ROE42.7%

Div Yield0.1%

NEE

NextEra Energy, Inc.

$86.75Price

Mkt Cap$180.9B

P/E26.4

ROE10.7%

Div Yield2.6%

The Southern Company

$93.09Price

Mkt Cap$104.94B

P/E23.7

ROE11.5%

Div Yield2.9%

CEG

Constellation Energy Corporation

$274.06Price

Mkt Cap$98.99B

P/E37.0

ROE16.3%

Div Yield0.6%

DUK

Duke Energy Corporation

$123.86Price

Mkt Cap$96.56B

P/E19.6

ROE9.5%

Div Yield3.4%

NGG

National Grid plc

$79.44Price

Mkt Cap$79.05B

P/E18.2

ROE8.5%

Div Yield2.8%

AEP

American Electric Power Company, Inc.

$127.69Price

Mkt Cap$69.48B

P/E19.2

ROE12.1%

Div Yield3%

Dominion Energy, Inc.

$68.39Price

Mkt Cap$60.12B

P/E19.8

ROE9.4%

Div Yield3.9%

SRE

Sempra

$90.69Price

Mkt Cap$59.28B

P/E33.0

ROE4.6%

Div Yield2.7%

VST

Vistra Corp.

$163.75Price

Mkt Cap$55.21B

P/E74.1

ROE17.7%

Div Yield0.5%

ETR

Entergy Corporation

$111.11Price

Mkt Cap$50.87B

P/E28.4

ROE10.9%

Div Yield2.1%

XEL

Xcel Energy Inc.

$77.41Price

Mkt Cap$48.32B

P/E22.6

ROE9.4%

Div Yield2.8%

EXC

Exelon Corporation

$45.81Price

Mkt Cap$46.87B

P/E16.7

ROE9.9%

Div Yield3.5%

PEG

Public Service Enterprise Group Incorporated

$79.89Price

Mkt Cap$39.84B

P/E19.0

ROE12.8%

Div Yield3.1%

Consolidated Edison, Inc.

$106.36Price

Mkt Cap$39.2B

P/E18.9

ROE8.8%

Div Yield3.1%

WEC

WEC Energy Group, Inc.

$112.17Price

Mkt Cap$36.54B

P/E23.2

ROE11.6%

Div Yield3.1%

PCG

PG&E Corporation

$16.48Price

Mkt Cap$36.29B

P/E14.0

ROE8.6%

Div Yield0.6%

DTE

DTE Energy Company

$147.56Price

Mkt Cap$30.7B

P/E20.9

ROE12.2%

Div Yield2.9%

AEE

Ameren Corporation

$108.67Price

Mkt Cap$30.06B

P/E20.3

ROE11.3%

Div Yield2.6%

NRG

NRG Energy, Inc.

$135.06Price

Mkt Cap$28.5B

P/E33.7

ROE41.5%

Div Yield1.5%

FTS

Fortis Inc.

$56.09Price

Mkt Cap$28.46B

P/E23.3

ROE7%

Div Yield1.9%

ATO

Atmos Energy Corporation

$170.11Price

Mkt Cap$28.39B

P/E22.8

ROE9.3%

Div Yield2%

CNP

CenterPoint Energy, Inc.

$42.82Price

Mkt Cap$27.96B

P/E26.8

ROE9.6%

Div Yield2%

EIX

Edison International

$71.89Price

Mkt Cap$27.66B

P/E6.2

ROE24.6%

Div Yield4.6%

FirstEnergy Corp.

$46.45Price

Mkt Cap$26.87B

P/E26.4

ROE7.4%

Div Yield3.8%

PPL

PPL Corporation

$35.38Price

Mkt Cap$26.62B

P/E22.1

ROE8.2%

Div Yield3%

Eversource Energy

$69.59Price

Mkt Cap$26.16B

P/E15.3

ROE10.7%

Div Yield4.2%

AWK

American Water Works Company, Inc.

$125.07Price

Mkt Cap$24.42B

P/E21.9

ROE10.5%

Div Yield2.6%

CMS

CMS Energy Corporation

$73.38Price

Mkt Cap$22.67B

P/E20.8

ROE11.6%

Div Yield3%

NiSource Inc.

$47.26Price

Mkt Cap$22.66B

P/E24.2

ROE8.3%

Div Yield2.4%

See all 50 stocks →

Market Comparison

Utilities Sector vs S&P 500 in one glance

This should answer the only question that matters here: are you getting something better than the market for the price you are paying?

Price vs market

Cheaper

28% below S&P 500 trailing P/E

Quality vs market

Lower quality

Net margin 17.4% vs 25.7%; ROE 24.1% vs 47.7%

Income vs market

Higher yield

Sector yield 2.20% vs 1.00%

Comparison table

Winner should register in under three seconds.

Metric	Utilities Sector	S&P 500	Delta	Winner
Trailing P/E Sector is cheaper	24.8x	34.5x	-28%	Sector cheaper
Forward P/E Sector is cheaper	20.4x	24.2x	-16%	Sector cheaper
EV/EBITDA Sector is cheaper	15.2x	23.1x	-34%	Sector cheaper
Net Margin Market is stronger	17.4%	25.7%	-32%	S&P 500 stronger
ROE Market is stronger	24.1%	47.7%	-49%	S&P 500 stronger
Dividend Yield Sector is stronger	2.2%	1.0%	+121%	Sector yields more

History check

Is the current premium normal?

1-year contextNear normal

42th percentile; range 23.2x to 27.1x

5-year contextCheap vs history

2th percentile; range 10.9x to 792.2x

Internal health

Median revenue growth9.1%

Median gross margin31.8%

Median FCF margin-14.7%

Against the S&P 500, Utilities Sector currently trades at 24.8x trailing earnings versus 34.5x for the broad market. That premium only makes sense if investors keep believing the sector deserves better margins, stronger returns on equity, and more durable growth than the index overall.

Industry Breakdown

Where the real weight sits inside Utilities Sector

These cards are built from the full sector universe, then ranked by market cap so you can see which pockets are leading, rich, resilient, or dangerously concentrated.

Industry Scoreboard

Fast scan of Utilities Sector industry setups

Use this table to spot heavyweights, cheap pockets, leaders, and genuinely beaten-down areas before opening the detailed cards below.


Electric Utilities 55 stocks	61.1% $1.43T	Neutral -2.3% median 3M	Fair 16.5x median Fwd P/E	Mixed 10.6% median ROE	Average 10.6% rev growth	Mixed Diversified
Renewable Energy 24 stocks	20.4% $477.42B	Neutral -0.6% median 3M	Premium 23.0x median Fwd P/E	Mixed 0.0% median ROE	Strong 10.2% rev growth	Mixed One-name heavy
Diversified Utilities 16 stocks	5.6% $130.36B	Neutral +0.2% median 3M	Fair 15.4x median Fwd P/E	Weak 8.7% median ROE	Weak 3.9% rev growth	Mixed One-name heavy
Independent Power 7 stocks	5.0% $117.12B	Neutral +1.6% median 3M	Premium 17.0x median Fwd P/E	Weak 2.7% median ROE	Weak 9.1% rev growth	Mixed One-name heavy
Gas Utilities 15 stocks	4.0% $93.9B	Neutral -6.8% median 3M	Fair 18.1x median Fwd P/E	Mixed 8.9% median ROE	Average 4.5% rev growth	Mixed Concentrated
Water Utilities 14 stocks	2.8% $65.5B	Neutral -1.3% median 3M	Premium 20.6x median Fwd P/E	Mixed 8.5% median ROE	Weak 4.6% rev growth	Mixed One-name heavy
Utilities 1 stocks	1.2% $27.96B	Neutral -0.9% median 3M	Premium 22.4x median Fwd P/E	Mixed 9.6% median ROE	Average 5.2% rev growth	Mixed One-name heavy

Showing 7 of 7 industries in Utilities Sector.

Setup is a quick read of value, quality, growth, momentum, and concentration together.

61.1% OF SECTOR

Electric Utilities

Fairly pricedMixed qualityNeutralAverage growthDiversified

Electric Utilities is a core pocket of utilities, moving broadly in line with the rest of the sector; growth is near the sector average, quality signals are mixed, and valuation is close to sector norms.

Median 3M return

-2.3%

Forward P/E

16.5x

Top 3 weight

26.7%

Market cap

$1.43T

Coverage

55 stocks

Breadth

26% pos. in 3M

Open filtered screener

20.4% OF SECTOR

Renewable Energy

Premium vs sectorMixed qualityNeutralStrong growthOne-name heavy

Renewable Energy is a core pocket of utilities, moving broadly in line with the rest of the sector; growth is running above sector norms, quality signals are mixed, and valuation still carries a premium. Leadership is extremely concentrated in one or two names.

Median 3M return

-0.6%

Forward P/E

23.0x

Top 3 weight

87.9%

Market cap

$477.42B

Coverage

24 stocks

Breadth

50% pos. in 3M

Open filtered screener

5.6% OF SECTOR

Diversified Utilities

Fairly pricedWeak qualityNeutralWeak growthOne-name heavy

Diversified Utilities is a meaningful pocket of utilities, moving broadly in line with the rest of the sector; growth is softer than the sector average, quality metrics trail the sector median, and valuation is close to sector norms. Leadership is extremely concentrated in one or two names.

Median 3M return

+0.2%

Forward P/E

15.4x

Top 3 weight

66.8%

Market cap

$130.36B

Coverage

16 stocks

Breadth

57% pos. in 3M

Open filtered screener

5.0% OF SECTOR

Independent Power

Premium vs sectorWeak qualityNeutralWeak growthOne-name heavy

Independent Power is a smaller pocket of utilities, moving broadly in line with the rest of the sector; growth is softer than the sector average, quality metrics trail the sector median, and valuation still carries a premium. Leadership is extremely concentrated in one or two names.

Median 3M return

+1.6%

Forward P/E

17.0x

Top 3 weight

88.5%

Market cap

$117.12B

Coverage

7 stocks

Breadth

57% pos. in 3M

Open filtered screener

4.0% OF SECTOR

Gas Utilities

Fairly pricedMixed qualityNeutralAverage growthConcentrated

Gas Utilities is a smaller pocket of utilities, moving broadly in line with the rest of the sector; growth is near the sector average, quality signals are mixed, and valuation is close to sector norms. Leadership is concentrated in a few names.

Median 3M return

-6.8%

Forward P/E

18.1x

Top 3 weight

62.1%

Market cap

$93.9B

Coverage

15 stocks

Breadth

27% pos. in 3M

Open filtered screener

2.8% OF SECTOR

Water Utilities

Premium vs sectorMixed qualityNeutralWeak growthOne-name heavy

Water Utilities is a smaller pocket of utilities, moving broadly in line with the rest of the sector; growth is softer than the sector average, quality signals are mixed, and valuation still carries a premium. Leadership is extremely concentrated in one or two names.

Median 3M return

-1.3%

Forward P/E

20.6x

Top 3 weight

80.6%

Market cap

$65.5B

Coverage

14 stocks

Breadth

43% pos. in 3M

Open filtered screener

1.2% OF SECTOR

Utilities

Premium vs sectorMixed qualityNeutralAverage growthOne-name heavy

Utilities is a smaller pocket of utilities, moving broadly in line with the rest of the sector; growth is near the sector average, quality signals are mixed, and valuation still carries a premium. Leadership is extremely concentrated in one or two names.

Median 3M return

-0.9%

Forward P/E

22.4x

Top 3 weight

100.0%

Market cap

$27.96B

Coverage

1 stocks

Breadth

0% pos. in 3M

Open filtered screener

Sector Outlook

Utilities Sector Outlook - Q1 2026

Updated Q1 2026

Utilities in 2026 are shaped by interest rates, grid investment, and power demand from electrification and data centers. These themes support long-term capital programs but raise financing questions.

Rate-case outcomes and balance sheet discipline remain central. The sector regains favor quickly in risk-off environments, but quality utilities stand out by combining income with credible growth.

Look for earnings progression underneath the dividend story, not just a static yield trade.

Earnings Calendar

Upcoming Earnings in Utilities Sector

Earnings reports are the biggest near-term catalysts for sector moves. Track which names report in the next 60 days and size your positions accordingly.

No earnings in the next 60 days

Check individual stock pages for the latest earnings dates and estimated EPS.

Learn

Understanding the Utilities Sector Sector

What Is the Utilities Sector?

Utilities provide essential electricity, gas, and water. Many are regulated monopolies with steadier revenues than cyclical sectors.

The defensive label can be misleading if you ignore balance sheets and regulation. Returns often depend on what regulators allow utilities to earn on infrastructure investments.

Utilities are evaluated on dividend yield, valuation, leverage, rate-base growth, and rate sensitivity rather than raw top-line growth.

How to Invest in Utilities Stocks

XLU is the simplest way to access the utility sector. Stock selection helps when comparing regulated electric, gas, water, and power companies with different generation mixes.

Key risks: higher rates, regulatory setbacks, elevated capital needs, weather variability, and project overruns. Valuations compress when bond yields become more competitive.

The screener helps compare dividend-paying utilities on profitability, size, and valuation. Balance yield against balance sheet quality and growth visibility.

Explore Further

Related Themes & Screens in Utilities Sector

ThemeRenewable Energy ThemeNuclear Energy

Frequently Asked Questions

Regulated electric, gas, and water companies plus selected power producers. The screener above shows the live list sortable by cap, yield, and valuation.

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