Goldman Sachs maintains Buy ratings on American Electric Power, Xcel Energy, and NextEra Energy ahead of Q1 2026 earnings.
AEP identified $5‑$8 billion incremental capex opportunities beyond its $72 billion base plan, with details expected in upcoming earnings calls.
Xcel Energy sees roughly $10 billion incremental capex from RFPs, transmission awards, and data‑center demand, to be incorporated into its plan.
NextEra Energy could gain earnings upside from a large load announcement in Florida and its strong position serving data‑center customers.