Tariff power that stretches up to 100% on key Russian energy importers puts trade relationships, inflation, and company cost structures back in the spotlight. That kind of policy shock can quickly separate potential winners from stocks that may struggle. This article walks through three U.S. utilities and infrastructure stocks that appear positioned on the positive side of this story and explains why their businesses could matter for your watchlist now.

The stocks covered below are just a starting sample, and the full utilities and infrastructure screen surfaced 11 more U.S. companies with equally compelling narratives that are not included in this article. To identify potential ideas that fit your own risk and return profile, head straight to the U.S. Utilities and Infrastructure screener to filter and analyze the wider opportunity set.

Argan (AGX)

Overview: Argan is an engineering and construction contractor that builds and maintains large power plants, industrial facilities, and telecom and power networks across the U.S., Ireland, and the U.K. Its subsidiaries handle everything from project design and equipment procurement to on site construction, commissioning, and ongoing maintenance for utilities, industrial customers, and government agencies.

Operations: Argan generates most of its revenue from its Power segment at about $822.8 million, supported by $196.7 million from Industrial services and $22.4 million from Teledata, with the vast majority earned in the United States.

Market Cap: $8.4b

Investors considering Argan are looking at a contractor tied directly into two powerful themes. The first is aging power and water infrastructure in the U.S. and the growing need for new gas, solar, and grid projects, which has helped Argan build a sizeable, multi year backlog across power, water, and recycling. The second is rising electricity demand from AI data centers, which keeps attention on utility scale projects where Argan already has deep experience. At the same time, the company leans heavily on large natural gas plants and relies on external borrowing, and there has been recent insider selling, so execution and capital discipline matter. The picture has both positives and risks, which is why Argan may warrant a closer look for some investors.

Argan’s power focused backlog and AI data center angle may look clear, but the real story sits in the trade off between projects, funding, and resilience. Weigh those moving parts in the 2 key rewards and 1 important warning sign

Build your own power and infrastructure shortlist

Argan and the other two stocks in this article all surfaced from a single screener, but the real edge comes when you tailor the filters yourself. Use our flexible Screener to combine valuation, growth, quality and risk checks into a watchlist that fits your style, or jump straight into any of our curated Investing Ideas.

Granite Construction (GVA)

Overview: Granite Construction is a U.S. based civil contractor and materials supplier that builds and rehabilitates roads, bridges, rail, airports, water infrastructure, data center sites, and energy related projects for federal, state, local, and private sector clients, while also selling aggregates, asphalt, and recycled materials.

Operations: Granite Construction generates about $4.1 billion from its Construction segment and $1.2 billion from its Materials segment, offset by $358.8 million of intersegment eliminations.

Market Cap: $5.6 billion

Granite Construction sits at the intersection of U.S. infrastructure spending and data center build outs, with a record contract backlog, raised 2026 revenue guidance, and growing exposure to transportation, rail, and utility projects that are less tied to global trade frictions. The company’s push into vertically integrated materials and technology can support more stable margins as input costs swing, and a recent board addition with deep infrastructure experience suggests continued focus on execution. At the same time, high debt, ongoing acquisition activity, materials cost pressure, and recent insider selling mean you are not getting a free ride. For investors who want U.S. focused infrastructure and potential tariff insulation, the key question is whether Granite’s balance sheet and project mix justify that growth story.

Granite Construction’s growing backlog and materials footprint could be masking a much bigger story around resilience and capital intensity. Get the full picture in the 4 key rewards and 2 important warning signs

Imperial Petroleum (IMPP)

Overview: Imperial Petroleum is a Greece based shipping company that provides seaborne transportation of refined petroleum products, crude oil, and dry bulk commodities worldwide through a fleet of tankers and drybulk carriers serving producers, refiners, traders, and industrial customers.

Operations: Imperial Petroleum generates about US$191 million from transportation and shipping services, with all reported revenue attributed to Greece.

Market Cap: US$208 million

Imperial Petroleum sits at the intersection of energy trade, freight rates, and today’s tariff risks. This small cap can attract investor attention among those watching supply chains. The company has a diversified fleet that can shift between petroleum products and drybulk cargo, reports strong recent earnings momentum, and trades on a low P/E and at a steep discount to some fair value estimates. At the same time, short term charter exposure, funding risk from external borrowing, and the potential for new emissions rules contribute to volatility. With U.S. tariff power adding fresh uncertainty to global trade routes, that mix of upside and risk makes Imperial Petroleum a stock that may warrant closer inspection for some investors.

Imperial Petroleum’s low P/E and fleet flexibility could be masking a very different risk reward profile. Get the fuller story in the 4 key rewards and 1 important major warning sign

Seeking Fresh Alternatives Before Others Do

Some of the most interesting stocks move from quiet to crowded fast. Consider fresh ideas with real momentum while they are still under the radar, and act based on your own research and objectives.

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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.