In this article, we are going to discuss the energy and utility stocks that are on fire in April.
While the S&P Energy index has lost some momentum in the month of April, it is still up by just under 24% since the beginning of the year. Similarly, the S&P Utilities index has also posted YTD gains of almost 7%, despite remaining largely flat in April.
The energy sector’s strong start to the year was driven by the skyrocketing oil prices amid the US-Iran war. As a result, many American oil operators have reported positive windfalls in the ongoing Q1 earnings season, with several Big Oil names currently hovering around their all-time highs. While it appears that the sector has recently lost steam following the ceasefire and the ongoing efforts for a potential peace deal, analysts expect the conflict to have a lasting structural impact on global crude prices.
Similarly, the utilities sector has also witnessed the strongest start to the year since 2019, benefiting from an investor retreat from riskier assets during the Middle East conflict and the strong electricity demand from firms building out AI infrastructure. As a result, we have seen a number of utility firms signing long-term deals with hyperscalers and boosting their CapEx spending to make sure they have enough energy available to power the ongoing AI boom.
With that said, here are the Energy and Utility Stocks that are on Fire in April.
Our Methodology
To collect data for this article, we have referred to several stock screeners to find energy and utility stocks that have surged the most between April 1 and April 27, 2026. The following are the Energy and Utility Stocks that are on Fire in April. The stocks are ranked according to their share price surge during this period.
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7. SLB N.V. (NYSE:SLB)
Share Price Gains Between Apr. 1 – Apr. 27: 10.39%
SLB N.V. (NYSE:SLB) engages in the provision of technology for the energy industry worldwide.
SLB N.V. (NYSE:SLB) shot up after reporting its Q1 2026 results on April 24. The company reported adjusted earnings of $0.52 per share for the quarter, and while this was down by $0.20 compared to the same period last year, it still fell in line with market expectations. However, revenue for the quarter grew by just under 3% YoY to $8.72 billion and beat estimates by $60 million.
It has been a challenging quarter for SLB N.V. (NYSE:SLB), with the company witnessing a 10% YoY drop in the Middle East and Asia. The company’s operations in the region were hurt by Qatar declaring force majeure on its LNG exports, as well as production constraints and security concerns in Iraq and offshore operations across the region.
That said, SLB N.V. (NYSE:SLB)’s nascent data center solutions unit was a major silver lining during the quarter, jumping by 45% YoY and 10% sequentially, and helping offset declines across several other business units stemming from the Middle East conflict.
SLB N.V. (NYSE:SLB) also revealed that it has agreed to acquire the upstream geoscience and petroleum engineering software portfolio of S&P Global’s energy division, helping make the company more competitive in the US shale market.
SLB N.V. (NYSE:SLB) received significant positive attention following the better-than-expected Q1 report, with analysts from Morgan Stanley, JPMorgan, Barclays, and several others raising their respective price targets on the stock.
6. Cameco Corporation (NYSE:CCJ)
Share Price Gains Between Apr. 1 – Apr. 27: 10.78%
Cameco Corporation (NYSE:CCJ) operates globally, producing uranium and nuclear fuel products for the generation of clean, safe, and reliable electricity.
Cameco Corporation (NYSE:CCJ)’s surge in April has been helped by a rebound in nuclear fuel prices, with uranium futures in the US currently hovering above $86.5 per pound, near their highest level in two months. This is mainly due to the bullish view on the longer-term adoption of nuclear power, especially in the United States.
President Trump signed an executive order last year to quadruple the country’s nuclear energy capacity to 400 GW by 2050. The government has recently taken some important steps to achieve this goal, with the Utility Power Reactor Incremental Scaling Effort (UPRISE) program being a great example. The initiative is meant to help nuclear companies uprate their reactors and bring dormant facilities back online, potentially increasing the country’s existing nuclear fleet’s power capacity by a further 5 GW by 2029.
Additionally, Cameco Corporation (NYSE:CCJ) also received a lift on April 20 when William Blair initiated coverage of the stock with an ‘Outperform’ rating, while assigning it a fair value estimate of $165 per share (read more details here).
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