In this article, we will list the 5 Undervalued Infrastructure Stocks to Buy Now. Please visit 8 Undervalued Infrastructure Stocks to Buy Now if you’d like to see an extended list and the methodology behind it.
5. NRG Energy, Inc. (NYSE:NRG)
Forward Price-to-Earnings Multiple: 11.88x
Number of Hedge Fund Holders: 76
NRG Energy, Inc. (NYSE:NRG) is one of the undervalued infrastructure stocks to buy now. The stock’s sharp pullback has drawn attention, but the underlying fundamentals tell a more nuanced story.
On June 10, 2026, NRG Energy, Inc. (NYSE:NRG) hit a 52-week low of $120.11, extending a decline of more than 20% year-to-date and nearly 17% over the past year. Despite the slide, over 80% of covering analysts remain constructive on the stock, with a median price target of $200.
The most recent analyst move came on May 21, 2026, when Morgan Stanley raised its price target on NRG Energy, Inc. (NYSE:NRG) to $162 from $159 while keeping an Equal Weight rating, as part of a broader update to North American utility and IPP targets. The firm noted utilities underperformed the S&P 500 that month.
That update followed a difficult first quarter. On May 6, 2026, NRG Energy, Inc. (NYSE:NRG) reported Q1 revenue of $10.26 billion, up from $8.59 billion a year earlier, but adjusted EPS of $1.49 missed the consensus estimate of $1.78. Operating costs rose 33.4% to $9.93 billion, and interest expenses climbed to $285 million from $163 million, reflecting costs tied to the $12 billion acquisition of LS Power generation assets. Texas adjusted EBITDA fell 27.8% to $216 million amid a nearly 30% drop in heating degree days, while East segment EBITDA slipped 2% to $464 million due to higher power supply costs during Winter Storm Fern.
NRG Energy, Inc. (NYSE:NRG) expects its 415-megawatt T.H. Wharton facility in Texas to begin commercial operations by the end of May and now sees up to 2 gigawatts of uprate and conversion opportunities within its existing fleet, up from nearly 1 gigawatt previously disclosed.
NRG Energy, Inc. (NYSE:NRG) is a utilities company that specializes in energy and home services through its Texas, East, West/Other, Vivint Smart Home, and Corporate Activities segments. The company provides its services to a diverse range of customers, from data centers to wholesale.
4. AECOM (NYSE:ACM)
Forward Price-to-Earnings Multiple: 10.41x
Number of Hedge Fund Holders: 49
AECOM (NYSE:ACM) ranks among the undervalued infrastructure stocks to buy now. The stock looks cheap on the surface, but the debate right now is whether that discount is an opportunity or a trap.
On May 19, 2026, Barclays lowered its price target on AECOM (NYSE:ACM) to $90 from $110, keeping an “Equal Weight” rating after the fiscal second-quarter report. The firm acknowledged the company’s record of strong multi-year growth and free cash flow, but said those qualities were being overshadowed by an asset-light re-rating and a lack of near-term catalysts. Barclays described the stock as optically cheap but without a clear re-rating path.
Against that backdrop, AECOM (NYSE:ACM) has kept moving.
On June 10, 2026, AECOM (NYSE:ACM) entered into a new $500 million revolving credit agreement with a lender syndicate led by Bank of America, maturing June 9, 2028, with no borrowings outstanding at inception. The facility is secured by assets of AECOM and certain subsidiaries, carries leverage-based pricing and unused commitment fees, and includes a maximum consolidated leverage ratio covenant of 4.0 to 1, reinforcing the company’s liquidity while imposing standard financial discipline.
Then on June 12, 2026, AECOM (NYSE:ACM) appointed David Rottblatt as Senior Vice President and Director of Strategic Private Sector Client Growth in its Aviation Market Sector. Based in California, Rottblatt will focus on expanding AECOM’s reach across private sector aviation clients and emerging aviation markets. He joins from Supernal, where he served as Chief Operating Officer, and brings more than two decades of leadership experience, including 15 years in the global aviation industry.
AECOM (NYSE:ACM) delivers expert infrastructure consulting services to commercial and government organizations. Its services portfolio includes advising and consultation, engineering solutions, construction, and management services. It provides these services across various segments, including transportation, water, and energy. It is also involved in developing and investing in real estate ventures.
3. PG&E Corporation (NYSE:PCG)
Forward Price-to-Earnings Multiple: 10.28x
Number of Hedge Fund Holders: 80
PG&E Corporation (NYSE:PCG) is one of the undervalued infrastructure stocks to buy now. Two analysts recently trimmed their price targets on the stock, yet the underlying demand story has not gone quiet.
On May 21, 2026, Morgan Stanley lowered its price target on PG&E Corporation (NYSE:PCG) to $22 from $23, keeping an “Equal Weight” rating, as part of a broader update to North American Regulated and Diversified Utilities and IPP targets.
Three days earlier, on May 18, 2026, Truist made the same price target move, cutting to $22 from $23 while keeping a “Buy” rating on PG&E Corporation (NYSE:PCG). The adjustment came as part of a broader model update ahead of the American Gas Association’s Financial Forum. Truist noted the sector is now in year three of the data center wave, with investment and growth expectations continuing to climb. The firm views vertically integrated electric utilities as clear winners in building the infrastructure needed to serve that load growth.
Meanwhile, PG&E Corporation (NYSE:PCG) added a milestone of its own. On June 4, 2026, the company announced it had surpassed 1 million customers with solar systems connected to its electric grid. Jason Glickman, Executive Vice President of Strategy and Growth, said PG&E has enabled more solar adoption than any utility in the country.
PG&E Corporation (NYSE:PCG) sells electricity and natural gas across the U.S. market. The company uses fossil fuel-fired, fuel cells, photovoltaic, nuclear, and hydroelectric sources to generate electricity. It serves residential, commercial, industrial, and agricultural customers, as well as natural gas-fired electricity generation facilities. The company operates through various interconnected transmission lines.
2. Venture Global, Inc. (NYSE:VG)
Forward Price-to-Earnings Multiple: 9.24x
Number of Hedge Fund Holders: 50
Venture Global, Inc. (NYSE:VG) ranks among the undervalued infrastructure stocks to buy now. With geopolitical tensions reshaping global energy flows, Venture Global is finding itself in the middle of a trade that the market may not yet fully appreciate.
On June 4, 2026, JPMorgan upgraded Venture Global, Inc. (NYSE:VG) to “Overweight” from “Neutral” and raised its price target to $17 from $16. The firm cited the Middle East conflict as having reset the LNG supply and demand backdrop, inducing significant volatility and underscoring the importance of diversified energy supply security. JPMorgan believes the market underappreciates the likelihood of elevated LNG volatility continuing, and that geopolitical developments are playing into Venture Global’s strengths, which should drive outsized margin capture and medium- and long-term contracting.
That analyst conviction has since been backed by tangible commercial momentum.
On June 11, 2026, Venture Global, Inc. (NYSE:VG) and Atlantic-SEE LNG Trade of Greece announced an expansion of their existing Sales and Purchase Agreement, doubling the contracted volume from 0.5 million tons per annum to 1.0 MTPA for twenty years starting in 2030. Atlantic-SEE is a joint venture between Greek companies AKTOR Group and DEPA Commercial. The expanded deal follows Venture Global’s previously announced investment in regasification capacity at the Alexandroupolis LNG import terminal in Greece, which currently accounts for approximately 25% of that terminal’s total capacity.
Earlier, in mid-May 2026, Venture Global, Inc. (NYSE:VG) announced binding agreements with TotalEnergies for approximately 0.85 MTPA over roughly five years starting in 2026, and expanded its existing deal with Vitol to 1.7 MTPA from 1.5 MTPA.
Venture Global Inc. (NYSE:VG) is a major American energy infrastructure company that produces and exports liquefied natural gas (LNG). They convert natural gas into a liquid state so it can be safely transported via ships to global utility and energy markets.
1. The AES Corporation (NYSE:AES)
Forward Price-to-Earnings Multiple: 6.38x
Number of Hedge Fund Holders: 72
The AES Corporation (NYSE:AES) is one of the undervalued infrastructure stocks to buy now.
The AES Corporation (NYSE:AES) is navigating a shifting energy landscape, where fresh capital, evolving policy support, and a complicated data center buildout backdrop are all moving at once.
On June 11, 2026, The AES Corporation (NYSE:AES) priced a dual-tranche senior notes offering totaling $1 billion, consisting of $600 million of 5.200% notes due 2029 and $400 million of 5.750% notes due 2033. The closing is expected on June 16, 2026, subject to customary conditions.
That capital raise arrived against a nuanced backdrop for power demand.
On June 5, 2026, Jefferies flagged intensifying local opposition to data center construction across the United States, citing a May 2026 Embold Research survey showing approximately 71% of respondents either somewhat or strongly opposed to data centers being built near their communities. That figure was up from roughly 51% in February and approximately 42% in September. The firm identified the Midwest, Southeast, Texas, and Northwest as mostly constructive regions for continued build-out, with lower population density, lower median incomes, and Republican-leaning composition cited as net favorable factors.
The same Jefferies note touched on The AES Corporation (NYSE:AES) more directly. The Department of Energy announced support for 13 coal-fired power plants alongside a new $500 million coal export infrastructure investment fund. Jefferies said that support includes AES’s Maryland and Puerto Rico coal sites, adding a policy dimension to the company’s existing asset mix.
The AES Corporation (NYSE:AES) is a global power company. It develops, owns, and operates a diversified portfolio of electricity generation and distribution assets, and its operations are increasingly focusing on renewable energy and energy storage. The company deploys utility-scale battery energy storage systems across multiple markets.
While we acknowledge the potential of AES 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 AES and that has 100x upside potential, check out our report about the cheapest AI stock.
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