If you’re an investor looking for growth stocks in the energy sector, start by searching for companies that are benefiting from the increasing electricity demands of data centers and the increased use of nuclear power in the U.S.
Vistra (NYSE: VST) and Constellation Energy (NASDAQ: CEG) fit those descriptions, and both of their shares are worth holding on to for the next decade.
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Vistra is the largest unregulated power producer in the U.S., and partners with Amazon (NASDAQ: AMZN) and Meta Platforms (NASDAQ: META) to help them meet their power needs. The Texas-based company generates 44,000 megawatts (MW) of energy through nuclear, natural gas, coal, and battery energy storage facilities. Its shares are down by a little more than 1% so far in 2026, but are up more than 46% over the past year.
In 2025, Vistra’s revenue rose 2.9% to $17.7 billion, thanks to an AI-driven surge in electricity demand from data centers. Net income fell 52.5% to $233 million due to higher interest expenses and costs related to recent acquisitions.
The company is expected to close its $4 billion deal to buy Cogentrix Energy later this year, adding roughly 5,500 MW of natural gas-fueled generation capacity. It closed a 2,600 MW acquisition from Lotus Infrastructure Partners in November for $1.9 billion.
For 2026, management is guiding for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $6.8 billion to $7.6 billion, which would be a 22% increase at the midpoint. Analysts currently project a one-year earnings per share (EPS) growth rate exceeding 230% as the company’s newer nuclear agreements and natural gas expansions in the Permian Basin come online.
The company has a 20-year agreement to provide Amazon Web Services with up to 1,200 MW of electricity from its Comanche Peak Nuclear Power Plant, and a similar deal to provide 2,600 MW to Meta from a trio of nuclear plants.
One of the more subtle reasons to buy Vistra is its dividend. Thanks to the stock’s rise, the yield has fallen from the 2.2% to 3.5% range it lived in just a few years ago to around 0.6% currently. However, the company has raised its payouts (admittedly, by small increments) for 17 consecutive quarters. Despite those increases, the payout ratio is only 41.2%, leaving it room for further dividend hikes.
