5 High-Flying Energy Stocks Trouncing The Markets

By Alex Kimani – Jan 28, 2026, 6:00 PM CST

Last year, the energy sector emerged as one of the notable laggards in an otherwise red-hot U.S. stock market. The sector notched a respectable, but below-market, return of 7.9%, falling to match the 16.4% gain by the S&P 500 in large part due to a big pullback in oil prices in the second half of 2025. Thankfully, oil and gas stocks are looking to flip the script in the early innings of the new year, with the energy sector up 11.2% in the year-to-date, the best sector performance so far in the year and incomparable to a 1.9% gain by the broad-market benchmark. Energy stocks are outperforming due to a “flight to quality” by investors seeking strong balance sheets, high free cash flow (estimated over 7% at $65 Brent), and the sector’s role as a defensive, high-yield alternative to volatile tech stocks.

Natural gas stocks in particular are seeing plenty of momentum, with U.S. natural gas futures surging nearly 120% in the five days through Monday, their biggest 5-day gain since 1990, thanks to the massive winter storm that disrupted refinery operations and spiked heating demand.

“Natural gas supply outages have emerged across the U.S. in the wake of winter storm Fern, with an initial loss of 2B cf/day from the Bakken, Rockies and Mid-Continent, followed by a more abrupt drop of 12B cf/day, primarily driven by the Permian and broader Gulf Coast region,” said Rystad Energy analyst Matthew Bernstein in a note. “We expect significant outages to persist throughout the first half of the week followed by a swift recovery Sunday.“

However, this year’s top gainers span diverse industries across the energy universe. Here are the top 5 best-performing energy stocks that have left the markets in the dust.

#1. Bloom Energy

Market Cap: $36.0B

Year-to-Date Returns: 87.2%

San Jose, California-based Bloom Energy Corp. (NYSE:BE) designs and manufactures solid-oxide fuel cell systems that convert natural gas, biogas or hydrogen into power behind the meter. The company’s technology is used for large-scale applications including data centers, manufacturing, and hospitals, providing a solution to grid constraints and enhancing energy security.

Bloom Energy shares have enjoyed a humungous rally, with stock vaulting nearly 700% over the past 12 months, primarily due to intense investor demand for its solid oxide fuel cells to power artificial intelligence (AI) data centers. Over the past year, Bloom has secured a flurry of multi-billion dollar deals to provide on-site power for AI data centers. In July, Bloom Energy partnered with Oracle (NYSE:ORCL) to power Oracle Cloud Infrastructure (OCI) data centers. This deal addresses the rapid, high-power needs of AI, delivering behind-the-meter, on-site energy in roughly 90 days. In October, Bloom Energy and Brookfield Asset Management (NYSE:BAM) announced a strategic partnership valued at up to $5 billion to deploy Bloom’s solid-oxide fuel cell technology to power AI data centers. This collaboration positions Bloom Energy as the preferred onsite power provider for Brookfield’s global AI infrastructure. Earlier this year, Bloom announced it had expanded an agreement with American Electric Power (NASDAQ:AEP) involving a $2.65 billion deal for 900 megawatts of fuel cells.

#2. Uranium Energy Corp.

Market Cap: $9.3B

YTD Returns: 64.9%

Texas-based Uranium Energy Corp. (NYSE:UEC) is a vertically integrated uranium mining company focused on exploring, developing, and extracting uranium using low-cost in-situ recovery (ISR) methods. The company operates in the United States, Canada, and Paraguay.

Shares of uranium producers have enjoyed a big rally over the past couple of years thanks to strong, sustained demand for nuclear power to fuel AI data centers, rising spot uranium prices, and favorable U.S. policy support for domestic production. UEC’s rally has spilled over into the new year after the company signaled a production ramp-up and launched its new UF6 business line. UEC has launched a new subsidiary, United States Uranium Refining & Conversion Corp. (URC), aimed at becoming the only U.S.-based, vertically integrated supplier with both uranium mining and UF6 (uranium hexafluoride) conversion capabilities. This initiative strengthens UEC’s position in the domestic nuclear fuel supply chain, responding to federal policy to increase U.S. nuclear capacity and reduce reliance on foreign suppliers. The new division aims to produce ~10,000 MtU per year of UF6, supporting the production of low-enriched uranium (LEU) and high-assay low-enriched uranium (HALEU) for advanced reactors, including small modular reactors (SMRs).

#3. Northern Graphite Corp.

Market Cap: $31.5 million

YTD Returns: 52.0%

Northern Graphite Corporation (OTCQB:NGPHF) is a Canadian company that engages in the development and production of graphite and other mineral properties. Northern Graphite and other graphite stocks have been rallying primarily due to a projected massive surge in demand for electric vehicle (EV) batteries, combined with severe supply chain constraints and geopolitical moves to reduce reliance on Chinese supplies. Last year, China, which controls over 90% of processed graphite supply, introduced export restrictions on certain graphite products, raising concerns about availability and encouraging Western, non-Chinese alternatives. On the other hand, the U.S. Department of Commerce imposed nearly 100% anti-dumping duties on Chinese graphite imports, with total effective tariffs reaching 160% in some cases. This makes non-Chinese, domestic, or partner-country producers (like those in Canada or Australia) highly competitive.

Meanwhile, battery-grade graphite demand is forecast to grow 8–10x by 2030, driven by the EV market. While lithium grabs headlines, graphite is a critical material in the anode of lithium-ion batteries, representing 10–28% of the battery’s total weight. Experts estimate that up to 150 new, diverse mining operations are needed by 2035 to meet the growing demand, and the current supply is failing to keep up, setting the stage for a long-term deficit.

#4. Fluence Energy

Market Cap: $5.2B

YTD Returns: 51.0%

Fluence Energy, Inc. (NASDAQ:FLNC) is a Virginia-based energy company that designs and delivers utility-scale battery technology, software, and services to enhance grid reliability and accelerate the renewable energy transition.

FLNC shares are rallying in early 2026 due to a combination of record-breaking project backlogs, strong fiscal 2026 guidance, and increased investor confidence following analyst price target upgrades. The company is benefiting from high demand for utility-scale energy storage, particularly in relation to AI-driven data center expansion. Fluence has forecast 50% revenue growth in FY 2026, highlighting robust demand for its energy storage solutions. Wall Street firms like UBS and Susquehanna raised their FLNC price targets in early 2026, citing improved gross margin visibility and a strong growth trajectory.

#5. Plug Power

Market Cap: $3.3B

YTD Returns: 26.9%

Slingerlands, New York-based Plug Power (NASDAQ:PLUG) develops hydrogen fuel cells product solutions for global markets. PLUG shares are rallying in early 2026 due to a combination of analyst upgrades, significant operational milestones, and strategic efforts to secure funding. Clear Street analyst Tim Moore upgraded Plug Power to “Buy,” noting a potential path to profitability driven by cost-saving initiatives and higher product pricing. Last year, Plug Power announced it had completed the installation of a 5MW GenEco proton exchange membrane (PEM) electrolyzer at Cleanergy Solutions Namibia’s Hydrogen Dune site in Walvis Bay. This facility, inaugurated in September 2025, is Africa’s first fully integrated commercial green hydrogen plant, using a 5MW solar park and 5.9 MWh battery storage to produce hydrogen for local transport and industrial applications. Recently, Plug Power reached a significant agreement with Walmart (NYSE:WMT) to cancel a 2017 stock warrant deal, a move that successfully alleviated investor concerns regarding substantial future stock dilution. This restructuring removes a “long-standing equity overhang” that had previously acted as a drag on the company’s valuation.

Despite these positive catalysts, PLUG has historically faced volatility due to high capital expenditures and a lack of profitability, making it a high-risk, high-reward stock.

By Alex Kimani for Oilprice.com

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