12 Best Electric Utility Stocks to Buy for the Data Center Power Surge

8. Duke Energy Corporation (NYSE:DUK)

Number of Hedge Fund Holders: 51

Duke Energy Corporation (NYSE:DUK) engages in the distribution of natural gas and energy-related services. The company owns and operates a diverse mix of regulated power plants – including hydro, coal, nuclear, natural gas, solar, and battery storage.

Duke Energy Corporation (NYSE:DUK) exceeded Wall Street estimates in its Q1 2026 report on May 5, driven by the recovery of rate-based infrastructure investments ​and favorable weather. The company’s adjusted profit of $1.93 beat expectations by $0.13, while its revenue grew by over 11% YoY to $9.18 billion and topped forecasts by $690 million.

Duke Energy Corporation (NYSE:DUK) signed an additional 2.7 GW of electric service agreements with data center customers during the first quarter, bringing its total executed agreements to approximately 7.6 GW. Moreover, the company revealed that it was in advanced discussions on ​an additional 15.4 GW of data centers.

Duke Energy Corporation (NYSE:DUK) announced that it remains on track to achieve its 2026 EPS guidance range of $6.55 to $6.80, in addition to reaffirming its target of 5% to 7% long-term EPS growth rate through 2030.

Duke Energy Corporation (NYSE:DUK) also declared a quarterly dividend of $1.065 per share on May 7. The stock currently boasts an impressive annual dividend yield of 3.40% and was recently included in our list of the 10 Best Nuclear Energy Stocks to Buy for Dividends.