In this article, we will take a look at the 12 Best Nuclear Energy Stocks to Buy Now.
According to McKinsey & Co., capital spending tied to data centers could reach $6.7 trillion globally by 2030, driven largely by the acceleration of AI workloads. That figure matters because AI infrastructure does not just need more power. It needs electricity that is reliable, continuous, and scalable. As hyperscalers plan larger and denser data centers, nuclear energy has become a more central part of the discussion as one of the few sources capable of delivering steady baseload electricity at scale.
Recent demand forecasts have reinforced that view. BloombergNEF updated its outlook in December 2025, estimating that U.S. data center electricity demand could reach 106 gigawatts by 2035. That represents a 36% increase from a forecast published just seven months earlier, suggesting earlier assumptions underestimated how quickly AI-related power needs are rising.
Policy signals have followed a similar path. Executive orders issued last year by Donald Trump focused on accelerating nuclear deployment, supporting domestic fuel supply, and streamlining permitting. Those steps eased some of the regulatory friction that has long weighed on the sector.
Taken together, growing AI-driven power demand and a more supportive policy backdrop have pushed nuclear energy into focus.
Photo by Frédéric Paulussen on Unsplash
Our Methodology
We shortlisted the uranium and nuclear energy stocks using VanEck’s NLR ETF. Then we ranked these stocks using Insider Monkey’s proprietary hedge fund sentiment data, as of Q3 2025. Our article presents the best nuclear energy stocks to buy, according to the 1,000 hedge funds tracked by Insider Monkey.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
12. NuScale Power Corporation (NYSE:SMR)
Number of Hedge Fund Holders: 26
On January 28, 2026, Texas Capital initiated coverage of NuScale Power Corporation (NYSE:SMR) with a Buy rating and a $23 price target. The firm highlighted NuScale’s position as the only small modular reactor developer with U.S. Nuclear Regulatory Commission approval, noting that its design relies on conventional low-enriched uranium that is already widely available. That fuel choice was cited as a key differentiator, reducing supply chain risk compared with many advanced nuclear peers. Texas Capital said NuScale offers differentiated exposure to advanced nuclear development with comparatively lower regulatory, supply chain, and execution risk.
Earlier, on January 9, 2026, Bank of America upgraded NuScale to Neutral from Underperform and set a $28 price target, down from $34. The firm said the recent pullback in the stock brings deployment expectations closer to its base case. BofA pointed to the derisked light-water reactor design and the company’s first-mover licensing position, anchored by Tennessee Valley Authority as credibility drivers. At the same time, it flagged front-loaded dilution tied to ENTRA1 and limited contract visibility as constraints on near-term upside. More broadly, the firm described 2026 as a screening year rather than a build year for small modular reactors, arguing that policy momentum reduces friction but does not materially accelerate timelines.
In the third quarter of 2025, TVA and ENTRA1, NuScale’s exclusive global strategic partner, announced an agreement covering the potential deployment of up to 6 gigawatts of new nuclear capacity using NuScale’s SMR technology.
NuScale Power Corporation (NYSE:SMR) develops small modular reactor systems centered on its NuScale Power Module, a light-water reactor design capable of generating 77 megawatts per unit, positioning the company as one of the more advanced public plays in the SMR space.
11. Centrus Energy Corp. (NYSE:LEU)
Number of Hedge Fund Holders: 31
On January 24, 2026, Tennessee state officials announced a major expansion involving Centrus Energy Corp. (NYSE:LEU) in East Tennessee, with plans to transition the company’s Oak Ridge facility into a high-rate manufacturing plant. The expansion is expected to create nearly 430 jobs and involve more than $560 million in investment in Anderson County over the coming years, supporting workforce growth and the production of thousands of advanced centrifuges.
The Tennessee announcement aligns with Centrus’ previously outlined plans to expand its Ohio uranium enrichment operations, which are positioned as a key piece of the U.S. commercial and national security fuel supply. The first centrifuges manufactured in Tennessee are expected to be deployed in Ohio starting in 2029.
On January 8, 2026, Roth Capital raised its price target on Centrus Energy to $125 from $117 and maintained a Neutral rating. The firm pointed to the $900 million award from the Department of Energy as a catalyst that positions Centrus to move forward with capacity expansion tied to high-assay low-enriched uranium production.
A day earlier, on January 7, 2026, Northland raised its price target to $325 from $300 and reiterated an Outperform rating after Centrus received the official $900 million DOE award to help jump-start the domestic nuclear fuel supply chain. Northland said the higher target reflects a faster path to market in 2029, compared with its prior 2030 expectation, along with reduced funding risk.
Centrus Energy Corp. (NYSE:LEU) is a U.S.-based supplier of nuclear fuel and related services, focused on supporting the nuclear power industry as demand for domestic, carbon-free energy and secure fuel supply continues to grow.
10. Denison Mines Corp. (NYSE:DNN)
Number of Hedge Fund Holders: 35
On January 15, 2026, Raymond James raised its price target on Denison Mines Corp. (NYSE:DNN) to C$5.05 from C$4.30 and maintained an Outperform rating. The adjustment came as part of the firm’s broader mining sector update.
Earlier, on January 6, 2026, Canaccord also lifted its price target on Denison Mines to C$5 from C$4.40, while keeping a Speculative Buy rating, adding to the run of positive analyst revisions around the stock.
On January 2, 2026, Denison Mines said it is ready to move to a final investment decision on its Phoenix in-situ recovery uranium mine, pending final regulatory approvals. The company considers the project construction-ready after progress made in 2025, with a two-year build timeline and first production targeted for mid-2028 if approvals are secured in Q1 2026.
Denison also raised its initial capital estimate to about $600 million, roughly 20% higher than the 2023 feasibility study, reflecting inflation and project refinements. The company said most major equipment and materials are already contracted or in advanced bidding, helping support the current construction and production timeline.
Denison Mines Corp. (NYSE:DNN) is a uranium mining, development, and exploration company focused on Canada’s Athabasca Basin. The company holds an effective 95% interest in its flagship Wheeler River Uranium Project, one of the largest undeveloped uranium assets in the eastern Athabasca region.
9. Energy Fuels Inc. (NYSE:UUUU)
Number of Hedge Fund Holders: 38
On January 28, 2026, Roth Capital analyst Joe Reagor upgraded Energy Fuels Inc. (NYSE: UUUU) to Neutral from Sell and raised the firm’s price target to $15.50 from $13. The analyst acknowledged that valuation looks stretched, but said strong market sentiment and a rising uranium spot price could offset any near-term pullback. Roth Capital added that upcoming catalysts and sentiment trends appear skewed to the upside in the near term.
On January 23, 2026, Canaccord raised its price target on Energy Fuels to C$37 from C$26 and reiterated a Buy rating. A few days earlier, on January 20, 2026, B. Riley lifted its price target to $27 from $22 while maintaining a Buy rating. The firm noted that the stock has outperformed peers so far in 2026, driven by confidence in White Mesa’s rare earth refining capabilities and supportive U.S. policy aimed at securing critical minerals. B. Riley said full-year performance will hinge on execution, downstream M&A, offtake progress, terbium oxide validation, and a final investment decision on the Donald project.
Operational updates late last year also helped reinforce the bull case. In fourth-quarter 2025, Energy Fuels reported that it exceeded previously disclosed guidance for finished uranium production, mined uranium ore output, and uranium concentrate sales for the full year. The company’s Pinyon Plain Mine in Arizona and La Sal Complex in Utah mined more than 1.6 million pounds of uranium in 2025, topping the high end of prior guidance by 11%. The White Mesa Mill in Utah also produced over one million pounds of finished U3O8 during the year.
Energy Fuels Inc. (NYSE: UUUU) is a U.S.-focused uranium producer engaged in the extraction and recovery of uranium, operating across in-situ recovery and conventional uranium segments.
8. Oklo Inc. (NYSE:OKLO)
Number of Hedge Fund Holders: 38
On January 28, 2026, Texas Capital initiated coverage of Oklo Inc. (NYSE:OKLO) with a Buy rating and a $138 price target. The firm called Oklo the “best vehicle to express a bullish view on advanced nuclear solutions,” pointing to the company’s Aurora reactor and its broader ecosystem that spans advanced reactor design, fuel reprocessing, and radioisotope production. Texas Capital said Oklo’s projected economics can compete directly with other firm power generation sources, while its integrated business model leaves room for additional value creation over time.
A week earlier, on January 21, 2026, Bank of America upgraded Oklo to Buy from Neutral and raised its price target to $127 from $111. The upgrade followed Oklo’s signing of a firm, binding agreement with Meta Platforms Inc. to develop a phased 1.2-gigawatt advanced nuclear campus. While the initial megawatt contribution was described as modest, BofA said the agreement marked a meaningful step forward by demonstrating execution capability and securing a committed counterparty. The firm also highlighted Meta’s willingness to commit capital years ahead of delivery as a signal of how critical nuclear power is becoming as AI and data center demand accelerate.
That agreement was formally announced on January 9, 2026, when Meta disclosed its partnership with Oklo to deploy up to 1.2 gigawatts of clean baseload power. The deal includes Meta prepaying for power and providing funding to help advance project certainty for Oklo’s Aurora powerhouse deployment.
Oklo Inc. (NYSE:OKLO) is a nuclear fission technology company focused on deploying advanced power plants and recycling nuclear fuel, with the goal of delivering clean, reliable energy at scale.
7. Public Service Enterprise Group Incorporated (NYSE:PEG)
Number of Hedge Fund Holders: 39
On January 21, 2026, Morgan Stanley raised its price target on Public Service Enterprise Group Inc. (NYSE:PEG) to $92 from $89 and kept an Overweight rating. The change came as the firm refreshed its Regulated and Diversified Utilities and IPP coverage in North America, noting that utilities lagged the S&P 500’s return in December.
A day earlier, on January 20, 2026, Wells Fargo analyst Shahriar Pourreza upgraded PSEG to Overweight from Equal Weight and lifted the price target to $92 from $88. The firm acknowledged that 2026 could bring negative headlines tied to New Jersey-related developments, but said fundamentals appear to be converging with valuation. Wells Fargo also highlighted the potential opening of regulated generation in the state as an accretive opportunity.
On January 7, 2026, Ladenburg Thalmann upgraded its rating on PSEG from Neutral to Buy and raised its price target to $87.50, adding to a string of positive analyst actions around the stock.
On December 30, 2025, PSEG announced that the New York State comptroller granted final approval for the extension of its operations services agreement with the Long Island Power Authority. The extension began on January 1, 2026, and runs through December 31, 2030. PSEG Long Island has operated the electric grid on behalf of LIPA since 2014.
Public Service Enterprise Group Inc. (NYSE:PEG) is a utility holding company with operations spanning electricity and natural gas transmission, distribution, and generation. Through its subsidiaries, the company serves customers primarily in New Jersey and Long Island and maintains exposure to merchant nuclear assets.
6. Uranium Energy Corp. (NYSE:UEC)
Number of Hedge Fund Holders: 41
On February 4, Goldman Sachs lifted its price target on Uranium Energy Corp. (NYSE:UEC) to $18 from $16 and reiterated its Buy rating. In its latest research note, the firm pointed to updates from the February Global Reactor Tracker, which outlines recent activity across North America, Europe, and Asia. The analysts also highlighted the strong rally in uranium spot prices at the start of the year and shared updated mark-to-market pricing expectations heading into the company’s Q4 earnings report.
Uranium Energy Corp. (NYSE:UEC)’s fiscal first-quarter 2026 results showed 1.36 million pounds of U3O8 in inventory, all of it unhedged. That structure gives the company direct exposure to spot uranium prices, with little insulation from short-term swings. As uranium markets have tightened, that lack of hedging has increasingly stood out as a potential lever to upside if prices remain firm or move higher.
Uranium Energy Corp. (NYSE:UEC) is a U.S.-focused uranium producer with operations centered on in-situ recovery projects in Wyoming and Texas. The company is viewed as one of the few newer uranium suppliers globally.
5. NexGen Energy Ltd. (NYSE:NXE)
Number of Hedge Fund Holders: 45
On January 15, 2026, Raymond James raised its price target on Nexgen Energy Ltd (NYSE:NXE) to C$17 from C$14 while maintaining an Outperform rating. The adjustment came as part of the firm’s broader mining sector update. While Raymond James reiterated that it continues to favor copper within the base metals complex due to expected medium- to long-term supply deficits, the higher target on NexGen signaled growing confidence in uranium-linked names.
Attention has increasingly centered on regulatory milestones at NexGen’s flagship Rook I project. Part 1 of the Canadian Nuclear Safety Commission hearing was held on November 19, 2025, with Part 2 scheduled for February 9 through February 13, 2026. Following the completion of these sessions, the Canadian Nuclear Safety Commission is expected to issue an approval decision, a key step in determining the project’s path toward development.
Based on feasibility studies, Rook I is estimated to contain well over 200 million pounds of U3O8, giving it the scale that only a few undeveloped uranium projects have. NexGen has described the asset as one of the most strategic uranium deposits globally, a characterization that has kept the stock on investor watchlists as permitting and regulatory decisions approach.
Nexgen Energy Ltd (NYSE:NXE) is a Canada-based uranium developer advancing its flagship Rook I Project toward large-scale production. The wholly owned property hosts several high-grade discoveries, including the Arrow deposit, South Arrow, Harpoon, Bow, and the Cannon area.
4. BWX Technologies Inc. (NYSE:BWXT)
Number of Hedge Fund Holders: 54
On January 26, 2026, BWX Technologies Inc. (NYSE:BWXT) announced the opening of its Centrifuge Manufacturing Development Facility in Oak Ridge, Tennessee. The facility is aimed at rebuilding a fully domestic uranium enrichment capability aligned with U.S. national security objectives. The announcement followed a $1.5 billion contract awarded in September by the Department of Energy’s National Nuclear Security Administration, supporting its strategy to secure a reliable supply of enriched uranium for defense fuel needs.
On January 9, 2026, Truist analyst Michael Ciarmoli raised his price target on BWX Technologies Inc. to $205 from $200 while maintaining a Hold rating. In a sector note, the firm said the Aerospace and Defense space remains bullish heading into 2026, supported by higher aircraft production and steady aftermarket demand. Defense-specific catalysts may be fewer, but Truist pointed to recapitalization cycles, geopolitical tensions, and replenishment needs as factors that should continue to support demand, making stock selection more important amid elevated valuations, especially among SMID defense technology names.
On January 15, 2026, BNP Paribas initiated coverage of BWX Technologies with a Neutral rating and a $215 price target, adding another data point to the growing analyst focus on the stock.
The stock was named among CLSA’s top picks for 2026, reinforcing the view that the company stands to benefit from long-term spending tied to nuclear and defense priorities.
BWX Technologies Inc. (NYSE:BWXT) is a manufacturing and engineering company focused on nuclear technologies across defense, clean energy, environmental remediation, medical applications, and space. Its operations span 20 major sites in the U.S., Canada, and the U.K., along with joint ventures that manage multiple Department of Energy and NASA facilities.
3. Cameco Corporation (NYSE:CCJ)
Number of Hedge Fund Holders: 79
On January 15, 2026, Raymond James analyst Brian MacArthur raised the firm’s price target on Cameco Corporation (NYSE:CCJ) to C$165 from C$150 while keeping an Outperform rating. The move came as part of a broader mining update.
On January 7, 2026, Bernstein also adjusted its view, lifting its price target on Cameco to $101 from $100 and reiterating an Outperform rating. The firm pointed to a higher uranium price deck as the primary driver behind the update.
The growth in nuclear generation has tightened the market for uranium, resulting in rising uranium prices. Based on CCJ’s data, Uranium Spot Price reached $81.55 by the end of 2025, over 10% higher year-on-year. CCJ sold 33.6 million pounds of uranium in 2024, among the largest globally.
On November 25, 2025, Reuters reported that Canada and India were nearing a 10-year uranium supply agreement valued at $2.8 billion. If finalized, the deal would position Cameco Corp. as a long-term supplier to India’s expanding nuclear fleet, adding another layer of demand visibility.
Cameco Corporation (NYSE:CCJ) is one of the world’s largest uranium suppliers, with operations anchored by high-grade reserves and low-cost production. The company also maintains exposure across the nuclear fuel cycle through strategic investments, including stakes in Westinghouse Electric Company and Global Laser Enrichment.
2. PG&E Corporation (NYSE:PCG)
Number of Hedge Fund Holders: 79
On January 27, 2026, PG&E Corporation (NYSE:PCG), alongside Lockheed Martin, Salesforce, and Wells Fargo, announced the launch of EMBERPOINT LLC, a joint venture focused on wildfire detection, prevention, and response. The companies said EMBERPOINT will combine artificial intelligence, autonomous systems, and integrated command-and-control tools to help first responders detect fires earlier and improve coordination during mitigation efforts. PG&E is contributing its wildfire mitigation experience across geographically diverse service areas, while Lockheed Martin is supplying prediction, detection, and autonomous response capabilities. Salesforce is providing the digital platform, and Wells Fargo is backing the venture through a capital investment.
On January 21, 2026, Morgan Stanley raised its price target on PG&E Corporation to $21 from $20 while keeping an Equal Weight rating. The update came as the firm refreshed its Regulated & Diversified Utilities and IPP coverage in North America, noting that utilities lagged the S&P 500’s return in December.
In December 2025, J.P. Morgan and TD Cowen both reiterated their ‘Buy’ ratings on PG&E Corporation (NYSE:PCG) with identical price targets of $21. The firms see PCG as “a compelling recovery story” following the wildfires early in 2025. Notably, PCG’s growth is expected to be driven by electrification trends and wildfire mitigation opportunities. TD Cowen also pointed out PCG’s “compelling valuation” among the key factors for their ‘Buy’ rating.
PG&E Corporation (NYSE:PCG) is a California-based utility holding company whose primary subsidiary, Pacific Gas and Electric Company, supplies electricity and natural gas to roughly 16 million customers across Northern and Central California, covering about 70,000 square miles.
1. Constellation Energy Corporation (NASDAQ:CEG)
Number of Hedge Fund Holders: 91
On January 20, 2026, Wells Fargo analyst Shahriar Pourreza lowered the firm’s price target on Constellation Energy Corp. (NASDAQ:CEG) to $460 from $478 while still maintaining an Overweight rating. The firm continues to highlight the stock as its Best IPP Idea, pointing to a pipeline of asset opportunities and multiple data-center related deals still in motion.
On January 9, 2026, TD Cowen initiated coverage with a Buy rating and a $440 price target, well above where the shares were trading at the time. Analyst Eli Mingos singled out the Calpine integration as a “compelling opportunity for contracting,” arguing that it could reshape how Constellation locks in long-term power agreements.
TD Cowen expects contracting activity to remain active through 2026, with deals signed above the forward curve. The firm also sees gas power purchase agreements as “intriguing upside potential” layered on top of Constellation’s nuclear fleet.
That setup was formalized on January 7, 2026, when Constellation completed its acquisition of Calpine Corporation, combining its nuclear assets with Calpine’s natural gas and geothermal portfolio. “This isn’t just about two great companies coming together—it’s about strengthening America’s future,” said Joe Dominguez, president and CEO of Constellation.
Constellation Energy Corp. (NASDAQ:CEG) operates the largest clean energy fleet in the U.S., with roughly 55 gigawatts of generating capacity across nuclear, natural gas, geothermal, hydro, wind, and solar.
While we acknowledge the potential of CEG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CEG and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 13 Companies that Just Started Paying Dividends and 12 Best Stocks to Buy for the Long Term.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
