While much of the market debates AI winners and tech rotations, utilities are doing something far less dramatic and often more powerful: they are trending higher with improving fundamentals and strong relative strength.
These are regulated, cash-flowing businesses tied directly to population growth, electrification, renewable buildouts, and increasingly, data center demand. Several names are now approaching or breaking through multiyear resistance levels, which is not typical behavior for this sector.
Here are three utilities worth keeping on your radar.
NextEra Energy (NEE)
A Two-Engine Growth Utility Near Multiyear Highs
NextEra trades around $92 and is pressing toward recovery highs not seen in roughly five years.
What makes NextEra different from a typical utility is its structure. It combines Florida Power & Light, a regulated utility benefiting from Florida’s population growth, with NextEra Energy Resources, one of the largest renewable energy businesses in the world. That second engine gives it more growth potential than most peers.
Recent earnings support the move. EPS rose 8% year over year, beating guidance. Management is targeting more than 8% compounded annual EPS growth through 2032. That is meaningful for a utility. Investors also collect a 2.7% dividend yield while that growth compounds.
Technically, the stock formed a higher low near $80 during the 2025 swoon. The 50-day moving average is near $84 and rising, with the 200-day around $78 and turning higher. The $88 to $90 zone now acts as first support.
If this push toward prior highs holds, it could mark the start of a longer multiyear breakout phase.
FirstEnergy (FE)
Breaking Out of a Five-Year Base
FirstEnergy trades around $50 and has just cleared the entire post-2019 trading range.
This is a pure-play regulated electric utility serving Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. The story is straightforward: steady rate base growth and disciplined capital deployment.
Full-year 2025 EPS came in at $2.55, up 7.6% and at the top end of guidance. Revenue rose 12% to $15.1 billion. Capital investments totaled $5.6 billion, up 25% year over year.
Management guided for 2026 EPS of $2.62 to $2.82, roughly 7% growth, supported by a $36 billion five-year capex plan targeting 10% annual rate base growth. Next earnings are April 23, with investors watching progress on a data center pipeline that has more than doubled to 12.9 gigawatts.
From a technical perspective, this is the most interesting chart of the group. The stock has broken above the $45 to $47 ceiling that capped it for years. The 50-day moving average sits near $46 and rising, while the 200-day is near $44 and trending higher.
If the stock can hold above that prior resistance zone on a monthly basis, this breakout has structural implications.
Duke Energy (DUK)
Re-Testing Prior Highs With Improving Momentum
Duke trades in the $130 area and serves more than 8 million customers across the Carolinas, Florida, and the Midwest.
Management is guiding for 5% to 7% annual EPS growth, supported by rate base expansion. The dividend yield sits around 3.4%, offering steady income alongside earnings growth.
The stock previously failed at the $130 level, so this price area matters. Markets have memory. A clean break above that level on strong volume would carry more weight than anticipating it.
Momentum has been improving, with RSI steadily rising. If it clears resistance convincingly, it could rejoin the leadership group.
The Big Picture
Utilities are not supposed to be exciting. They are supposed to be stable. When they start breaking out of multiyear bases while guiding for steady EPS growth and investing billions into infrastructure, it is worth paying attention.
NextEra offers a hybrid regulated plus renewable growth model.
FirstEnergy is executing a clean structural breakout.
Duke is setting up for a potential second attempt at new highs.
If leadership continues to favor physical infrastructure and electrification themes, this sector may remain stronger than many expect.
