Here’s a breakdown of some of the stand-out stocks that have surpassed key price milestones already in 2026 and look set to remain popular investment vehicles for thematic positioning across the North American energy space in 2026.
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THE GUTS OF THE GRID
Firms that produce parts, components and software that help connect and power electric grids and facilities are well placed to benefit from the ongoing AI and data center boom, which looks set to extend into 2026 and beyond.
Several North American companies specialize in developing materials and services dedicated to the grid space, including Fluor Corporation, MYR Group and MasTec. Their share prices have climbed 12% to 15% in 2026.
However, the top year-to-date performer is Wesco International, which is up over 17% and has dedicated segments covering communications, power generation and distribution, electrical and lighting, and security services.
“We believe core themes of data center, electrification, and grid investments will drive healthy growth” for Wesco, Jefferies equity analysts said in a recent report.
POWER GRABS
Firms exposed to the rush to generate and distribute more power across the country are also gaining.
Stand-out firms in this category include Baker Hughes, which manufactures and services gas extraction equipment as well as high-efficiency gas turbines which are in high demand among utilities and data center operators alike.
Baker Hughes’ shares are up over 20% year-to-date to their highest since 2008.
“One advantage some investors may not appreciate is how core industrial and energy technology is to our Baker Hughes thesis. This business has inherently higher returns and growth than just about any sub-industry in oilfield services,” Morningstar analysts noted this month.
Bloom Energy also manufactures products that are in high demand among utilities, and recently signed a record-large deal with utility American Electric Power for Bloom-made fuel cells that help convert natural gas into electricity.
Data centers that want to generate their own power – rather than rely on connecting to local grids – are also viable customers for Bloom, which has seen its share price soar 60% this year.
“Behind-the-meter power solutions are in the early stages of ramping up and (Bloom Energy) is well-positioned to capture high market share if it can increase its production capacity quickly enough this year,” Clean Street analysts wrote this month.
Fluence Energy is also riding the power demand wave, with its shares up over 35% year-to-date.
The energy storage giant has over 46 gigawatt hours of energy storage assets in operation across 48 markets globally, and is “one of the few players able to deliver compliant solutions at scale,” Jefferies analysts wrote this week.
REACTOR FUEL AND BATTERY ANODES
Uranium Energy is another high-flier this year, gaining over 55% already in 2026 as U.S. power firms and authorities look to revive the domestic nuclear power industry.
As the only vertically-integrated nuclear fuel supplier in the U.S., UEC is almost unique in the U.S. nuclear power supply chain.
“By owning production, processing capacity and eventually, conversion, UEC has the potential to capitalize on the need for a domestic uranium market amid the most significant supply shock in decades,” H.C. Wainwright analysts published this week.
Northern Graphite, a Canadian company that mines and refines graphite for use in battery anodes, fuel cells and other applications, is another niche play that has seen its share price gain over 50% this year.
The highly volatile penny stock ranged from 8 Canadian cents to 22 cents in 2025, but has since climbed beyond the 30 cents mark for the first time since 2023 on news of a joint venture with an investment company to build and operate a battery anode production facility in Saudi Arabia.
The move is part of Saudi Vision 2030, Saudi Arabia’s plan to electrify 30% of its vehicle fleet by 2030 and generate new jobs and industries within the Kingdom.
Northern Graphite is also the only graphite producer in North America, so the company will likely also benefit from the ongoing near-shoring push to ensure supplies of critical materials are not wholly controlled by China.
The opinions expressed here are those of the author, a columnist for Reuters.
Reporting by Gavin Maguire; Editing by Sonali Paul
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