We have recently seen and reported on a fast-growing and strong trend: Big tech is starting to partner with major utility companies to advance the use of nuclear power to help bridge the widening gap between power generation and needs. Microsoft Corp. (NASDAQ: MSFT) and Constellation Energy Corp. (NYSE: CEG) are discussing reopening a closed-down reactor at 3 Mile Island, while Amazon.com Inc. (NASDAQ: AMZN) announced it has signed an agreement with Dominion Energy Inc. (NYSE: D), Virginia’s utility company, to explore the development of a small modular nuclear reactor, near Dominion’s existing North Anna nuclear power station.
Many of the top analysts on Wall Street in both the tech and utility sectors feel that the collaboration between tech stocks and electric utilities is the natural outcome of the tech industry’s increasing energy demands, a growing challenge to forge a commitment to sustainability, and the need for innovation in energy management and infrastructure.
We screened our 24/7 Wall Street utility sector database and found four top large-cap companies that could be next to hop in bed with a tech giant. All four pay big and dependable dividends and are Buy-rated at top Wall Street firms.
This post originally appeared at 24/7 Wall St.