latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/54586314 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

NextEra becomes 1st US power company to join $100B market cap club

Case Study: A Utility Company Efficiently Sharpens Its Focus on the Credit Risk of New Customers

Energy Evolution Podcast

Energy Evolution Why solar energy could get even cheaper

Energy Evolution Podcast

US energy officials push innovation to meet evolving energy needs

Energy Evolution Podcast

Energy futurist sees major challenges for renewables in next 30 years


NextEra becomes 1st US power company to join $100B market cap club

NextEra Energy Inc. became the first U.S.-headquartered power company to surpass $100 billion in market capitalization.

During the third quarter, NextEra recorded a 13.8% quarter-over-quarter increase in market cap to $111.63 billion, cementing its first-place spot on the list of the top 20 U.S. electric and multi-utility companies by market cap as of Sept. 30, according to data compiled by S&P Global Market Intelligence.

The Juno Beach, Fla.-headquartered company, which closed its $1 billion acquisition of an underwater transmission cable system in California in July, is considering merging Gulf Power Co. with its flagship utility, Florida Power & Light Co. NextEra purchased Gulf Power from Southern Co. in January, in a deal valued at about $4.35 billion in cash, with the assumption of about $1.30 billion in debt.

NextEra was followed by Duke Energy Corp. with a market cap of $69.84 billion and Dominion Energy Inc. with a market cap of $65.11 billion as of Sept. 30.

Overall, the U.S. utility companies' market capitalization grew to $776.79 billion at the end of the third quarter, up from $711.35 billion in the second quarter, with no company recording declines in their market cap. Of the total, 16 utilities retained their rankings on the list and nine utilities posted double-digit percentage increases in their market cap, compared to the second quarter.

SNL Image

California utility Edison International posted the steepest gain in market cap of 23% to $27.01 billion, improving its ranking on the list by three spots to 13th position from 16th position. Entergy Corp. improved its ranking by one position to the 16th spot, after posting a 14.3% gain in market cap to $23.33 billion.

Other companies recording double-digit percentage increases included FirstEnergy Corp. at 14.5%, WEC Energy Group Inc. at 14.1%, Eversource Energy at 12.9% and Southern Co. at 12.2%.

DTE Energy Co. and PPL Corp. were the only two utilities that saw their rankings slip; they dropped two spots to the 15th and 17th positions, respectively. DTE Energy posted a 4% quarter-over-quarter increase in market cap to $24.37 billion, and PPL saw its market cap increase 1.6% to $22.74 billion.

SNL Image

In the third quarter, S&P 500 utility indexes outperformed the broad S&P 500 index, with the S&P 500 Electric Utilities Sub Industry index posting a total return of 10.4%, followed by the S&P 500 Utilities index with a 9.3% gain and the S&P 500 Multi-Utilities index with a 7.9% gain. The S&P 500 index saw a total return of 1.7%.