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Dear Fellow Investor,
Artificial intelligence hasn’t just fueled upside in tech stocks.
It’s also fueling massive upside in energy stocks.
Look at Sempra Energy (SYM: SRE), for example. Since June, it ran from about $74 to a high of $84 thanks in part to the explosive energy demand of AI data centers.
But this is just the start.
As noted by Reuters, “some power companies projecting electricity sales growth several times higher than estimates just months earlier. Nine of the top 10 U.S. electric utilities said data centers were a main source of customer growth, leading many to revise up capital expenditure plans and demand forecasts.”
Goldman Sachs is bullish on the industry, estimating about 47 gigawatts (GW) of additional power generation capacity will be needed to accommodate growth.
“AI data centers alone are expected to add about 323 terawatt hours of electricity demand in the U.S. by 2030, according to Wells Fargo. The forecast power demand from AI alone is seven times greater than New York City’s current annual electricity consumption of 48 terawatt hours. Goldman Sachs projects that data centers will represent 8% of total U.S. electricity consumption by the end of the decade,” added CNBC.
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That being said, investors should seriously consider energy stocks, such as:
Company: PG&E Corporation. (SYM: PCG)
PG&E Corp. is a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers.
It specializes in energy, utility, power, gas, electricity, solar and sustainability. It’s also the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California.
PCG will also benefit from growing electricity demand in California, which is projected to increase significantly over the next two decades. All thanks to calls for clean energy policies and continued electrification of buildings, transportation and other sectors of the economy.
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Company: Sempra Energy (SYM: SRE)
With a yield of 2.94%, Sempra is a leading North American energy infrastructure company focused on delivering energy to nearly 40 million consumers.
As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving the energy resilience of some of the world's most significant economic markets, including California, Texas, Mexico and global energy markets.
There are substantial reasons to buy and hold Sempra long term.
For one, while we wait for Sempra to push aggressively higher on data center power demand, we can collect its current yield of 2.94%.
Two, with the artificial intelligence story gaining traction, the demand for more power and the demand for more data centers could create a sizable market opportunity.
Helping, analysts at Bank of America also reinstated its buy rating on SRE with a $94 target. The firm says, “the company's pre-funded equity raise provides balance sheet flexibility for the first time in recent memory,” as noted by Seeking Alpha.
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