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

In this article, we will take a look at the 5 Best Electric Utility Stocks to Buy for the Data Center Power Surge. For a deeper discussion and analysis, please refer to the 12 Best Electric Utility Stocks to Buy for the Data Center Power Surge.

5. American Electric Power Company, Inc. (NASDAQ:AEP)

Number of Hedge Fund Holders: 60

American Electric Power Company, Inc. (NASDAQ:AEP) is one of the nation’s largest electricity producers with approximately 29,000 megawatts of diverse generating capacity.

American Electric Power Company, Inc. (NASDAQ:AEP) reported strong results for its Q1 2026 on May 5. The company posted an adjusted profit of $1.64 per share, up from $1.54 in the same period last year, and beat estimates by $0.07. The utility also grew its revenue by over 10% YoY to $6 billion and exceeded forecasts by $251 million.

AEP contracted an additional 7 GW of load in the first quarter, and the company’s incremental load is expected to grow to 63 GW by 2030, up from the 56 GW it shared previously. Nearly ​90% of this expected incremental contracted load is from ⁠data centers, including hyperscalers. As a result, the utility raised its five-year capital investment plan to $78 billion, up from the prior $72 billion.

American Electric Power Company, Inc. (NASDAQ:AEP) reaffirmed its full-year 2026 operating earnings guidance of $6.15 to $6.45 per share. The company also reiterated its premium operating earnings growth rate target of 7% to 9% for 2026 through 2030. Moreover, given its boosted capital investment plan, AEP increased its expected long-term operating earnings CAGR to greater than 9%.