On May 23, PPL (PPL) was trading at a PE multiple of 13x compared to its five-year historical average of 14x. It recently traded at an enterprise-value-to-EBITDA multiple of 9.5x. Its five-year historical average is 11x. PPL is trading at a discounted valuation to its historical multiple.
Xcel Energy (XEL) is trading at a PE multiple of 20x against its historical average of 18x. It’s trading at a premium valuation to its historical average.
The largest regulated utility in the country, Duke Energy (DUK), is trading at a PE ratio of 22x. Its five-year historical average valuation is 21x. DUK stock is trading at a premium compared to its historical valuation.