In this article, we will list down the 15 biggest publicly owned utility companies in the US.
Utilities supply essential goods and services to the public, such as electricity, natural gas, and water. In the US, there are over 3,300 electric utility companies, with roughly 200 of them providing power to the majority of the population. Over 450,000 miles of high-voltage transmission lines and around 2.5 million miles of feeder lines connect the energy grid. Industrial, business and residential customers are the three types of utility customers, with the latter accounting for the majority of retail electricity sales. Residential electricity users in the United States purchased 1.43 petawatt hours of power in 2019.
While many utility firms make a profit, governments often closely regulate them. Public power utilities are community-owned, non-profit electric companies that offer safe, affordable electricity to more than 49 million Americans while also conserving the environment. A public power provider provides electricity to homes and businesses in 2,000 communities across the United States. These utilities, which operate in 49 states, serve one out of every seven electrical users in the United States.
After reaching multiyear highs in the mid-$70s per barrel earlier this summer, oil prices have remained steady in the high $60s this month as the resurgent coronavirus prompts international travel restrictions and the number of individuals seeking vaccinations continues to grow. According to Rob Thummel, senior portfolio manager at TortoiseEcofin in Overland Park, Kansas, oil prices are projected to remain stable while the world economy recovers from the global pandemic.
Data from the U.S. Energy Information Administration (EIA) indicates that there were around 3,000 utility distribution companies in operation in the US in 2017. The EIA further divides utilities into three classifications: investor-owned utilities, publicly run or managed utilities and cooperatives. In this post, we will focus on publicly-owned utilities. Apart from government subsidies, political subdivisions also run POUs, often known as public utility districts. With 1.47 million customers, the two largest POU’s are the state-run Puerto Rico Electric Power Authority (PREPA) and the Los Angeles Department of Water and Power, a municipal utility. There are 1,958 POUs in the United States, each with an average of 12,100 electrical subscribers.
Our Methodology
In terms of 12-month trailing (TTM) revenue, the 15 largest publicly-owned utility enterprises in the United States are detailed below. This list contains companies that are publicly listed in the United States. Since certain companies report earnings semi-annually rather than quarterly, the 12-month trailing data for those companies may be older than those for companies that report quarterly. The data is taken from Seeking Alpha. All data is from 2021’s second quarter. The EIA collects data on generating capacity, annual wholesale purchases, monthly generation, monthly sales to ultimate customers, income from sales to ultimate customers, and utility ultimate customer numbers. Although steady, a utility’s ownership type may vary over time because of changing or growing jurisdiction boundaries, or market conditions.
Here are the 15 biggest publicly owned utility companies in the US:
15 Biggest Publicly Owned Utility Companies in the US
15. Chesapeake Utilities Corporation (NYSE: CPK)
Revenue (TTM): $540.7 million
In Delaware and Maryland, Chesapeake Utilities Corporation (NYSE: CPK) serves nearly 60,000 consumers. The Delaware-based diversified energy company distributes natural gas and propane gas. Chesapeake Utilities Corporation bought Western Natural Gas Corporation in 2020, allowing the company to grow into Florida. The company’s market capitalization is $2.14 billion. Chesapeake Utilities Corporation reported an EPS of $1.96 in the first quarter of 2021, exceeding predictions of $1.83. The company’s revenue in the second quarter of 2021 was $111.1 million, up from $97.1 million in the second quarter of 2020.
14. Western Midstream Partners (NYSE: WES)
Revenue (TTM): $2.720 billion
Western Midstream Partners (NYSE: WES) is an MLP with assets in New Mexico, the Rocky Mountains, Pennsylvania, and Texas. It reported $719 million in revenues in the second quarter. The partnership pays out a 6.9% dividend return to stockholders. MLPs with a high free-cash-flow yield attract investors, which can lead to reduced debt levels and higher dividends. In 2022, these free cash flow yields are expected to rise.
13. American Water Works Company Inc (NYSE: AWK)
Revenue (TTM): $3.889 billion
The corporation, headquartered in New Jersey, operates water and wastewater utilities in over 16 US states. It has a market capitalization of $30.35 billion and a $1.44 dividend yield. The company’s EPS for the first quarter of 2021 was $0.73, which was in line with expectations. The revenue of American Water Works Company Inc (NYSE: AWK) in the second quarter of 2021 was $999 million, up from $931 million in the same quarter last year. American Water Works Company Inc announced on May 19th that it will invest $2.7 million in its Illinois water system. The money will be used to repair six water facilities and replace 3,300 feet of water main.
12. CMS Energy Corp (NYSE: CMS)
Revenue (TTM): $7.067 billion
The Michigan-based energy firm serves electricity and natural gas to over 6 million consumers in the state. The company, which was formed in 1886, also provides support for power-producing plants all around the world. CMS Energy Corp (NYSE: CMS) declared earlier this month that it intends to be one of the country’s first coal-free utility firms by 2025. CMS Energy Corp reported an adjusted EPS of $1.21 in the first quarter of 2021, topping estimates by $1.14. CMS Energy Corp reported $1.558 billion in revenue at the end of the second quarter, up from $1.382 billion the previous year.
11. MPLX LP (NYSE: MPLX)
Revenue (TTM): $8.935 billion
Marathon Petroleum Corp (NYSE: MPLX) is a midstream energy logistics company that distributes and stores gas and refined petroleum products. As of August 10, the dividend yield is 10.1 percent. The corporation recorded $2.329 billion in second-quarter revenues, compared to $1.992 billion in the same quarter of 2020. Its management team is well run, and the partnership’s excess cash flow has been used to buy back units since 2020.
10. Eversource Energy (NYSE: ES)
Revenue (TTM): $9.526 billion
The Massachusetts-based firm uses both non-renewable and renewable energy sources to deliver its electricity. Eversource Energy (NYSE: ES) serves nearly 3.6 million customers in Connecticut, Massachusetts, and New Hampshire. Revenues were $2.122 billion in the second quarter of 2021, compared to $1.953 billion in the same quarter of 2020.
9. Cheniere Energy Inc. (NYSE: LNG)
Revenue (TTM): $10.354 billion
Cheniere Energy owns and manages facilities that liquefy natural gas so that it may be loaded onto ships and shipped around the world. Cheniere Energy, the largest liquefied natural gas (LNG) operator in the United States, is a favorite, according to Thummel. “The United States has a real chance to lead the world in liquefied natural gas,” he argues. “By the middle of the decade, the United States might be the world’s largest LNG provider.” The company’s consistent, fee-based nature might be a plus point for it. “During the pandemic, this approach was put to the test, and the company generated a consistent, expanding source of cash flow,” Thummel explains. Cheniere Energy Inc. announced second-quarter revenue of $3.388 billion. “As the company generates more free cash flow to pay down debt and establish a dividend, the market will begin to recognize Cheniere’s potential.”
8. Entergy Corporation (NYSE: ETR)
Revenue (TTM): $10.940 billion
Electricity is distributed to nearly 3 million users by the New Orleans-based energy company. Electric power production and retail distribution are two of the company’s main businesses in Arkansas, Louisiana, Mississippi, and Texas. Wells Fargo analyst Neil Kalton boosted Entergy Corporation’s (NYSE: ETR) price objective to $119 from $105 on April 29th, citing that Entergy Corporation is one of his most creative relative worth thoughts. The company has a market cap of $20.62 billion and a 3.70 percent dividend yield. Entergy Corporation reported an adjusted EPS of $1.47 in the first quarter of 2021, exceeding projections by $1.16. The company’s revenue in the second quarter was $2.822 billion, up from $2.412 billion in the same quarter of 2020.
7. Sempra Energy (NYSE: SRE)
Revenue (TTM): $11.82 billion
Sempra Energy (NYSE: SRE) was raised to a Buy rating by Mizuho analyst, Anthony Crowdell, in April, with a price objective of $148 per share, up from $129. SRE will use the revenues from the company’s 20% sale of Sempra Infrastructure Partners for its California and Texas utilities, according to the analyst. The company’s market capitalization is $41.19 billion. Sempra Energy reported an EPS of $2.95 in the first quarter of 2021, exceeding projections by $2.71. Revenues during the second quarter of 2020 were $2.741 billion, up from $2.526 billion the previous year.
6. Dominion Energy Inc (NYSE: D)
Revenue (TTM): $14.036 billion
The Virginia-based utility firm serves more than 7 million customers around the world. People of North Carolina, West Virginia, Ohio, Pennsylvania, and Utah are among the company’s main customers. Dominion Energy Inc (NYSE: D) was upgraded from a Sector Perform to an Outperform rating by Scotiabank analyst, Andrew Weisel, who also lifted the price objective to $92 from $88. Scotiabank also gave Dominion Energy Inc an Outperform rating and a $92 price target. The company’s market capitalization is $60.75 billion. Dominion Energy Inc posted an operating EPS of $1.09 in the first quarter of 2021, exceeding projections by $0.02. The company’s revenue in the second quarter was $3.038 billion.
5. NRG Energy Inc. (NYSE: NRG)
Revenue (TTM): $18.170 billion
NRG is a prominent integrated power company in the United States, fueled by people and built on a foundation of dynamic retail brands and varied generation assets. NRG Energy, Inc. is a power generation company that owns and runs a wide portfolio of power plants. NRG Energy posted a revenue generation of $5.243 billion in the second quarter. Michael Underhill, CIO of Capital Innovations in Pewaukee, Wisconsin, states that the company pays a 3% dividend yield, and its cash flow is expected to increase.
4. Southern Company (NYSE: SO)
Revenue (TTM): $21.845 billion
The Georgia-based gas and electric holding business serves over 9 million consumers in seven states with a market capitalization of $67.6 billion. The Illinois Commerce Commission recently approved Southern Company’s (NYSE: SO) Nicor Gas Interconnection Pilot programme. The company’s first-quarter EPS came in at $0.98, exceeding the $0.83 average estimate. Southern Company’s (NYSE: SO) revenue in the second quarter was $5.198 billion, up from $4.620 billion in the previous quarter.
3. Duke Energy Corporation (NYSE: DUK)
Revenue (TTM): $ 23.991 Billion
Duke Energy Corporation (NYSE: DUK) serves about 840,000 customers with electricity and 525,000 with natural gas. On July 26, Duke Energy Florida announced plans to build ten additional solar power facilities in Florida, with completion scheduled by the end of 2024. The company’s dividend yield, according to analysts, makes the stock appealing in the low-interest rate business. The company’s market capitalization is $80.36 billion. Duke Energy Corporation reported an adjusted EPS of $1.26 in the first quarter of 2021, topping estimates by $1.20. The company’s sales for the second quarter were $5.758 billion, up from $5.421 billion in the same quarter of 2020. Overall, the company confirmed a 5-7 percent long-term growth rate off the midpoint of 2021.
2. Exelon Corp. (NASDAQ: EXC)
Revenue (TTM): $34.775 billion
Exelon Corp. (NASDAQ: EXC) is a utility holding corporation that serves hundreds of millions of customers in Pennsylvania, Illinois, and other parts of the United States. The corporation, which has a market value of $48.716 billion, is among the main domestic power generators, with power generated by fuels such as gas, wind, hydroelectric, nuclear as well as solar stations. The corporation earned $7.915 billion in the second quarter. Exelon committed $5.5 billion in capital to modernize its electric system and aimed to invest another $6.5 billion to ensure that its customers receive reliable service.
1. Chevron Corp. (NYSE: CVX)
Revenue (TTM): $116.033 billion
Chevron is committed to remaining a classic oil firm and pays a 5.3% dividend return. The corporation earned $36.117 billion in revenues in the second quarter. In October 2020, the oil behemoth paid $13 billion for Noble Energy, another oil company, including debt, which is an industry record. The transaction was finalized in the fourth quarter. During the next seven years, Chevron expects to invest $3 billion in technologies to eradicate harmful emissions from its facilities.
You can also go through the 10 Best Entertainment Stocks To Buy and 25 Highest-Grossing Movies of All Time.
