With energy prices feeding through to inflation in several regions, reliable baseload power is back in focus for policymakers and utilities. That spotlight puts nuclear energy stocks on many watchlists, as investors look for ways to link long term power demand with companies tied to uranium and reactor infrastructure. This article highlights three stocks from the Nuclear Energy Stocks screener that merit closer attention right now.

The stocks covered below are only a sample of the nuclear energy stocks on the radar. The full screen surfaces 32 more companies that also have detailed narratives and data points that are not covered here. To identify and analyze the highest conviction ideas for your own watchlist, head straight into the Nuclear Energy Stocks screener.

NuScale Power (SMR)

Overview: NuScale Power is a pure play on nuclear power generation through its NuScale Power Module, a 77 MWe small modular light water reactor, and the full suite of services needed to license, build, operate, fuel, and maintain these plants. Beyond the core SMR design, the company focuses on helping utilities and industrial customers run nuclear projects across the entire lifecycle, from regulatory approvals and training to outage support.

Operations: NuScale Power currently generates around US$11 million in revenue from electric utility related services, all from customers in the United States.

Market Cap: US$3.9 billion

For investors interested in nuclear energy, NuScale Power offers direct exposure to small modular reactors that could serve utilities and power hungry data centers, backed by an NRC approved design and a growing pipeline that includes projects in Romania and potential large deployments with TVA. The investment case depends on whether the company can turn its SMR technology and end to end services into meaningful revenue. NuScale is still loss making, relies heavily on external funding, and faces execution risk around long term power contracts and manufacturing scale up. Recent news on AI assisted engineering tools and fuel cycle partnerships reflects ongoing developments, but the open questions on timing, profitability, and potential future dilution may make NuScale a candidate for further research before making any investment decisions.

NuScale Power sits at the crossroads of nuclear and data center demand, yet the real story may be whether its funding, losses and project pipeline truly line up. Get the full picture in the analysis report for NuScale Power

Constellation Energy (CEG)

Overview: Constellation Energy is a large US power producer that owns and operates a roughly 31,676 MW fleet, with a major contribution from nuclear plants that supply carbon free baseload electricity to utilities, businesses, and households. Alongside this nuclear backbone, it also sells power from wind, solar, gas, and hydro assets, as well as energy related products and sustainability solutions to a wide mix of commercial, industrial, public sector, and residential customers.

Operations: Constellation Energy generates about US$31.3b in revenue from its Generation segment, which includes its nuclear, wind, solar, natural gas, and hydroelectric power assets across regions such as the Midwest, Mid Atlantic, New York, ERCOT, and other US power markets.

Market Cap: US$96.9b

Constellation Energy gives you direct exposure to one of the largest US nuclear fleets. This business is increasingly tied to long duration, premium priced contracts with data center operators and corporates that want reliable, 24/7 carbon free power. At the same time, the company carries meaningful debt, depends on centralized assets and regulation sensitive nuclear plants, and recently booked a US$2.3b one off gain that complicates short term earnings signals. If you want to understand how the growing book of 15 to 20 year nuclear PPAs, projects like the Crane Clean Energy Center restart, and acquisitions such as Calpine could interact with these funding and regulatory risks, Constellation Energy deserves a closer look beyond the headline growth story.

Constellation Energy’s long dated nuclear PPAs with data centers could be reshaping its earnings profile, while that US$2.3b gain and debt load keep the full story murky. Get the detailed read in the analysis report for Constellation Energy

GE Vernova (GEV)

Overview: GE Vernova is an energy infrastructure company that provides equipment and services to generate, move, and manage electricity worldwide, with its Power segment supplying nuclear steam turbines, reactor components, and long term service contracts for operating reactors alongside gas, hydro, and steam technologies. The company is also active in wind power and grid electrification, which broadens its reach across the wider power system beyond its nuclear focused equipment and servicing work.

Operations: GE Vernova generates about US$21.0b from Power, US$8.5b from Wind, and US$12.2b from Electrification, with a small offsetting amount from other revenues and intersegment eliminations.

Market Cap: US$250.9b

GE Vernova gives you exposure to the nuts and bolts of nuclear power, since its Power segment supplies nuclear steam turbines, reactor hardware, and multi decade service and modernization contracts that keep existing reactors running and any future projects operating reliably. In addition, the company is closely linked to AI data center and grid build outs, supported by a reported US$176b backlog and very high current and forecast returns on equity, which indicate strong underlying economics. The situation is not risk free, with a weaker Wind segment, a large one off gain that affects recent earnings, and a balance sheet funded through external borrowing. For investors who want to understand whether this mix justifies current expectations, GE Vernova warrants a deeper look.

GE Vernova’s reported US$176b backlog and exposure to nuclear, grid and data center build outs suggest that the story is still developing. The real question is how that mix translates into returns and balance sheet risk in the analysis report for GE Vernova

Curious About What You Might Be Missing?

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• Position ahead of infrastructure and electrification themes by tracking the curated 38 power grid technology and infrastructure stocks and see which grid players could gain from rising demand.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.