Scotiabank Names Top Utility Stocks Amid Data Center Growth

What happened: Scotiabank named its top five U.S. regulated utility picks ahead of earnings season: Entergy (ETR), CenterPoint (CNP), Black Hills (BKH), NextEra (NEE), and FirstEnergy (FE), citing growth prospects and data center trends. Key numbers: Target prices and potential returns: ETR $121.00, 17.6%; CNP $46.00, 15.8%; Why it matters: Scotiabank expects bullish guidance commentary and says favorable weather and demand trends should let most utilities point to the high end of 2026 earnings ranges, with sizable capex increases expected as utilities invest to support data center demand. Market: +1.4% today ($79.34), +13.9% YTD, 0.3x vol — as of 17:02 UTC

Scotiabank named its top five U.S. regulated utility picks ahead of earnings season: Entergy (ETR), CenterPoint (CNP), Black Hills (BKH), NextEra (NEE), and FirstEnergy (FE), citing growth prospects and data center trends.

Scotiabank expects bullish guidance commentary and says favorable weather and demand trends should let most utilities point to the high end of 2026 earnings ranges, with sizable capex increases expected as utilities invest to support data center demand. Market: +1.4% today ($79.34), +13.9% YTD, 0.3x vol — as of 17:02 UTC