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Nuclear Energy’s Comeback: 7 Stocks Set to Power the Future

It wasn't so long ago that nuclear energy was a pariah, even among advocates for clean energy. Although nuclear energy is one of the cleanest forms of energy, the well-publicized accidents at nuclear facilities have weighed down the sector.

But times change. In 2025, the renewable energy transition is in full swing. It will still be several decades before the world can move away from fossil fuels in a meaningful way, but the current demand for power creates a need for more than existing energy forms can provide.  

As evidence of this growing demand, the International Atomic Energy Agency (IAEA) now projects that world nuclear capacity will increase 2.5x from 2023 levels by 2050. That will mean a rapid acceleration in the deployment of nuclear energy.

That's why nuclear stocks are back in fashion. And it's why investors should looking carefully at this sector as a space for long-term gains. This special presentation showcases seven stocks that could help investors capitalize on the significant growth opportunities expected as nuclear energy gains increasing importance among corporations and policymakers.

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  1. Constellation Energy
  2. GE Vernova
  3. BWX Technologies
  4. NuScale Power
  5. Cameco Corp.
  6. Duke Energy
  7. Range Nuclear Renaissance ETF

#1 - Constellation Energy (NASDAQ:CEG)

Some investors know Constellation Energy Corp. (NASDAQ: CEG) as their utility provider. The company generates and distributes electricity and natural gas across 16 states and the District of Columbia. However, with over 20 nuclear reactors, Constellation is also the nation’s largest nuclear power plant operator. This is a key reason that Constellation produces 10% of the nation’s total clean energy. 

Investors who weren’t aware of Constellation’s position in the nuclear sector became aware of it in 2024. At that time, the company announced its partnership with Microsoft Corp. (NASDAQ: MSFT) to restart the nuclear plant at Three Mile Island in Pennsylvania. Constellation also operates six nuclear power plants in Illinois. It’s not a coincidence that Iron Mountain Inc. (NYSE: IRM) is planning some of its largest data center expansion in that state.  

CEG stock soared after the company went public in 2022, growing more than 480% through the end of 2024. Gains of over 100% per year are not likely, but investors can look at Constellation’s leadership position in nuclear energy as a key catalyst for long-term growth.  



About Constellation Energy

Constellation Energy Corporation generates and sells electricity in the United States. It operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. The company sells natural gas, energy-related products, and sustainable solutions. It has approximately 33,094 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. Read More 
Current Price
$243.84
Consensus Rating
Moderate Buy
Ratings Breakdown
10 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$280.43 (15.0% Upside)






#2 - GE Vernova (NYSE:GEV)

The demand for lower power cooling is growing right along with demand for more data centers. That brings us to the next company on our list, GE Vernova (NYSE: GEV), the former energy division of General Electric Co. (NYSE: GE) which spun off in 2024.  

At the beginning of 2025, the company is using natural gas to power data centers. However, as nuclear energy becomes a viable option in coming years, the company is well positioned to deliver nuclear power solutions through its GE Hitachi Nuclear Energy Alliance, a world-leading provider of advanced reactors, fuel, and nuclear services.  

The company’s BWRX-300 small modular reactor (SMR) is of specific interest to the nuclear sector. It features an innovative, simplified configuration that results in less concrete and steel for a cost-competitive solution. Analysts expect this to be the next stage of nuclear development.    

Growth in nuclear power is one reason that GE Vernova is forecasting high single-digit revenue growth through 2028. To help facilitate that growth, the company has plans for about $5 billion in research and development in that period.



About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions. Read More 
Current Price
$366.30
Consensus Rating
Moderate Buy
Ratings Breakdown
21 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$314.35 (14.2% Downside)






#3 - BWX Technologies (NYSE:BWXT)

Like GE Vernova, BWX Technologies Inc. (NYSE: BWXT) supplies the nuclear industry with technologies, components, and fuel. Prior to 2024, the company was primarily known as a defense contractor for naval submarines and aircraft carriers. But today, analysts see an opportunity for BWX to become a major player in the commercial nuclear power segment. 

For that to happen, the company will have to see continued demand growth for SMRs, which may meet some resistance due to concerns over using military technology for commercial purposes. However, BWX Technologies already has deals and partnerships in place with GE Vernova, the Wyoming Energy Authority, and TerraPower (the SMR company backed by Bill Gates).  

BWXT stock began trading publicly in 2011 and grew over 700% by the end of 2024 and over 250% in the last 10 years. That's better than the S&P 500 during that time. Not surprisingly, the largest, and most consistent gains, have occurred since 2020.  



About BWX Technologies

BWX Technologies, Inc, together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments, Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; fabrication activities; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers. Read More 
Current Price
$114.26
Consensus Rating
Moderate Buy
Ratings Breakdown
6 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$124.57 (9.0% Upside)






#4 - NuScale Power (NYSE:SMR)

Speaking of SMRs, our next stock actually uses SMR as its ticker symbol: NuScale Power Corp. (NYSE: SMR). The company’s flagship product is its NuScale Power Module, which features a groundbreaking design that can generate up to 60 megawatts of electricity. 

NuScale is the only provider and producer of SMRs whose technology has received regulatory approval from the U.S. government. That means the company faces fewer barriers to commercial deployment.  

While the demand for SMRs is undeniable, so is the growth of competitors in this space, including GE Vernova and BWX Technologies. But one thing that sets NuScale apart is its exclusive partnership with independent global energy development and production company ENTRA1 Energy, which uses NuScale’s SMRs in its commercial projects.  

Unlike the other companies on this list, NuScale was not profitable as of January 2025 and continues to generate very little revenue. However, speculative investors looking for companies with the potential for long-term gains might find SMR stock an attractive choice.  



About NuScale Power

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs. Read More 
Current Price
$19.74
Consensus Rating
Moderate Buy
Ratings Breakdown
5 Buy Ratings, 1 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$10.39 (47.4% Downside)






#5 - Cameco Corp. (NYSE:CCJ)

So far, we’ve looked at companies on the hardware side of the nuclear sector. However, just like increased fossil fuel demand is bullish for oil prices, increased demand for nuclear power is bullish for uranium prices. That sets up the bullish case for Cameco Corp. (NYSE: CCJ).  

Cameco is the world’s largest publicly listed uranium company and the second-largest uranium miner. At the beginning of 2025, the company’s land holdings spanned about 1.8 million acres, which sets it apart from other uranium miners still in the exploration stage.  

Cameco is forecasting annual uranium deliveries of between 32 million and 34 million pounds. However, increased demand for nuclear power is likely to lead to higher uranium demand. 

Cameco started publicly trading in 1997, but it took until 2021 for the stock to begin charging forward. In the five years ending December 31, 2024, CCJ stock is up more than 480%. 



About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services. Read More 
Current Price
$51.37
Consensus Rating
Buy
Ratings Breakdown
7 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$66.56 (29.6% Upside)






#6 - Duke Energy (NYSE:DUK)

Duke Energy Corp. (NYSE: DUK) is the second-largest operator of nuclear plants in the United States. The company serves customers in North Carolina, where it has six active nuclear reactors. Approximately 28% of the Duke Energy's electric power generation comes from nuclear power, which plays a central role in the company’s strategy to achieve net-zero carbon emissions from electricity production by 2050.

This positions Duke Energy to capitalize on the increasing demand for electricity driven by data center expansions from companies like Meta Platforms Inc. (NASDAQ: META), Apple Inc. (NASDAQ: AAPL), and Alphabet Inc. (NASDAQ: GOOGL), which have been buying land in North Carolina to build more data centers.  

Utility stocks are not considered growth stocks. However, DUK's 560% return in the last 20 years may make investors reconsider that premise. That total return includes the company’s growing dividend, which is backed by safe, predictable revenue and earnings.  



About Duke Energy

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest. Read More 
Current Price
$108.30
Consensus Rating
Moderate Buy
Ratings Breakdown
7 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$122.23 (12.9% Upside)






#7 - Range Nuclear Renaissance ETF (NYSEARCA:NUKZ)

As tantalizing as the opportunity in nuclear energy may be, it can be difficult for risk-averse investors to stomach buying individual stocks. Another way to gain exposure is through an exchange-traded fund (ETF) such as the Range Nuclear Renaissance Index ETF (NYSEARCA: NUKZ).  

One key attribute of the NUKZ ETF is its broad exposure to the nuclear sector. Many ETFs focus heavily on uranium miners, but this ETF invests in companies throughout the entire nuclear supply chain.  

The fund has only been trading since February 2024. Some investors criticize the fund's 0.85% expense ratio and utility stock component, which is likely to weigh down returns when the economy is roaring. And they aren't completely wrong; the fund only delivered a return of about 5% in 2024. But with nuclear demand likely to become an increasing part of power generation, this could be a shrewd investment.



About Range Nuclear Renaissance Index ETF

The Range Nuclear Renaissance Index ETF (NUKZ) is an exchange-traded fund that is based on the Range Nuclear Renaissance index. The fund tracks a market cap-weighted index of stocks of companies from around the world that are operating within the nuclear fuel and energy industry. NUKZ was launched on Jan 23, 2024 and is issued by Range.
Current Price
$43.22
Consensus Rating
N/A
Ratings Breakdown
0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
N/A





 

As this presentation shows, there are many catalysts supporting a revival of nuclear power in the coming years. But the good news for investors is that this is still an opportunity that's in the early stages. Ideas like Small Modular Reactors (SMRs) are still in the early innings. And even large-scale nuclear reactors take years to become operational. 

That means you don't have to be in a hurry to go all in on any one of these investments. You can build a position over time with the expectation that there will be some volatility in this sector along the way.  

If you're not comfortable investing in nuclear stocks but want to add energy exposure to your portfolio, you can check out our premium report, 7 Energy Stocks to Buy and Hold Forever. This report highlights investable ideas in both fossil fuel and renewable energy companies. It's available as an immediate download for MarketBeat All-Access members.  

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