In this article, we will look at the 8 Best Infrastructure Stocks to Buy with Highest Upside Potential.
The listed infrastructure universe stretches across multiple segments, including energy infrastructure, transport networks, grid and utility systems infrastructure, and digital infrastructure, among others. First Sentier describes that opportunity set as including “toll roads, airports, railroads, utilities and renewables, energy midstream,” and argues these sectors often share “barriers to entry and pricing power.” Infrastructure can still offer a mix of defensiveness and growth, which matters especially when investors want exposure to real assets with room for earnings expansion rather than just cyclical trades.
Wellington says enduring infrastructure assets include “utilities, transportation, midstream energy, and data infrastructure,” with “steady revenue and stable cash flow generation” and business models that can be “less sensitive to economic swings.” That is why the sector keeps coming back into favor when the market starts worrying about volatility, rates, or uneven growth. J.P. Morgan Asset Management adds a newer leg to the story, saying “electricity demand is expected to accelerate,” which will require “careful planning and investment in power generation and infrastructure,” with beneficiaries emerging from the coming “electrical infrastructure build-out cycle.” This is especially important now because AI, industrial reshoring, transport electrification, and grid modernization are all starting to pull in the same direction.
Against that backdrop, we will look at the 8 Best Infrastructure Stocks to Buy with Highest Upside Potential.
Our Methodology
We used the Finviz screener to identify infrastructure stocks that offer notable upside based on analysts’ price targets. We then limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
8. The Williams Companies, Inc. (NYSE:WMB)
On April 19, 2026, Goldman Sachs upgraded The Williams Companies, Inc. (NYSE:WMB) to Buy from Neutral and set an $82 price target. The firm said the company’s core transmission asset, the Transcontinental Gas Pipeline, is one of the most strategically positioned pipeline networks in the country, stretching from the Northeast to the Gulf Coast. Goldman said it expects Williams to accelerate natural gas transmission project announcements as demand grows from LNG exports, utilities, and data centers.
On April 10, 2026, Jefferies analyst Julien Dumoulin-Smith raised his price target on The Williams Companies, Inc. (NYSE:WMB) to $83 from $81 while maintaining a Buy rating. Ahead of first-quarter results, the firm said investor attention has shifted from long-term growth targets to execution on the company’s power infrastructure opportunities. Jefferies said it remains confident in that opportunity and views the current risk-reward profile as compelling.
Earlier in April, RBC Capital raised its price target on The Williams Companies, Inc. (NYSE:WMB) to $82 from $78 and maintained an Outperform rating after speaking with management. The firm said Williams is well-positioned to benefit from rising natural gas and electricity demand. RBC also noted that the company has limited direct exposure to commodity price swings, while structurally higher energy prices could still support long-term infrastructure demand.
The Williams Companies, Inc. (NYSE:WMB) operates natural gas infrastructure assets across the United States.
7. ONEOK, Inc. (NYSE:OKE)
On April 28, 2026, ONEOK, Inc. (NYSE:OKE) reported first-quarter EPS of $1.23, missing consensus estimates of $1.32, while adjusted EBITDA rose to $1.997 billion from $1.775 billion a year earlier. CEO Pierce Norton said the quarter reflected year-over-year volume growth and continued operational execution across ONEOK’s integrated asset base. He added that strong performance across multiple segments and a constructive market backdrop are improving the company’s outlook for the rest of the year.
ONEOK raised its 2026 net income guidance to a range of $3.21 billion to $3.79 billion. The company also increased adjusted EBITDA guidance to $8.0 billion to $8.5 billion while keeping capital spending guidance unchanged at approximately $2.7 billion to $3.2 billion.
On April 13, 2026, Scotiabank raised its price target on ONEOK, Inc. (NYSE:OKE) to $92 from $91 and maintained an Outperform rating. The firm said higher commodity prices are having a more muted effect on fiscal 2026 earnings than expected and added that upstream development activity is still likely to remain stable this year.
Earlier in April, Morgan Stanley raised its price target on ONEOK, Inc. (NYSE:OKE) to $113 from $104 while maintaining an Overweight rating as part of its broader North American midstream and renewable infrastructure update.
ONEOK, Inc. (NYSE:OKE) provides gathering, processing, fractionation, transportation, storage, and marine export services across the U.S. energy infrastructure market.
6. Targa Resources Corp. (NYSE:TRGP)
On April 22, 2026, Morgan Stanley named Targa Resources Corp. (NYSE:TRGP) its top pick in the midstream energy infrastructure space. The firm said associated gas production in the Permian Basin could accelerate faster than the market expects as new pipeline takeaway projects come online in the second half of 2026. Morgan Stanley maintained an Overweight rating and a $327 price target on the shares.
On April 20, 2026, Goldman Sachs analyst John Mackay raised his price target on Targa Resources Corp. (NYSE:TRGP) to $268 from $242 while keeping a Buy rating. The firm said the sector has outperformed this year due to investor rotation into energy stocks and disruptions tied to Middle East tensions. Goldman added that rising U.S. natural gas demand from LNG exports and data center power needs, along with potential upside in Permian-related gas and water activity, remain key tailwinds.
Earlier in the month, Targa Resources Corp. (NYSE:TRGP) raised its quarterly dividend to $1.25 per share from $1.00. The dividend is scheduled to be paid on May 15, 2026, to shareholders of record as of April 30.
Targa Resources Corp. (NYSE:TRGP) owns, operates, acquires, and develops energy infrastructure assets across North America.
While we acknowledge the potential of TRGP 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 TRGP and that has 100x upside potential, check out our report about the cheapest AI stock.
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