The Best 3 Nuclear Energy Stocks to Buy and Hold for Decades
Key Points
Oklo recently announced a collaboration with Nvidia and the Los Alamos National Laboratory.
Constellation Energy is targeting 20% earnings-per-share growth through 2029.
Cameco is the second-largest producer of uranium in the world.
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The nuclear resurgence is underway, driven by the energy needs of artificial intelligence (AI) infrastructure, data centers, and growing populations. Nuclear is a strategically important energy source, and will remain so for the foreseeable future.
Three nuclear energy stocks stand out as great options to buy and hold for the long term. Cameco (NYSE: CCJ), Constellation Energy (NASDAQ: CEG), and Oklo (NYSE: OKLO) all have their own reasons why they will shine in the coming decades.
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Nuclear needs Cameco's uranium
Cameco is the world's second-largest uranium producer, having produced 17% of all the world's uranium in 2024. Uranium is the fuel that nuclear reactors rely upon, so Cameco is a powerful player in the industry. This also gives the company an incredible competitive moat that will be difficult to penetrate.
The company's financials tell a compelling story. Overall, revenue grew 11% to $3.48 billion in 2025. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2025 grew 26%. Cameco has a strong backlog of uranium commitments, providing it with excellent revenue visibility and consistent cash flow.
Its stock has risen dramatically in the past 12 months, up more than 120%. Cameco is trading at a significant premium now, with both its forward and trailing P/E ratios above 120. This can be justified, however, if investors take a long-term approach to the stock and believe in the company's growth trajectory.
Cameco is due to report its first-quarter 2026 earnings results on Tuesday, May 5.
Constellation's growth is more than compelling
Constellation's growth story is eye-popping. The nuclear facility operator is targeting earnings-per-share (EPS) growth of more than 20% through 2029. It currently operates the largest nuclear fleet in the U.S.
The company has a non-replicable set of facilities but also benefits from incredible data center energy requirements -- a powerful combination. To meet demand, the company is strategically investing nearly $4 billion in growth capital expenditures, expecting double-digit returns. This competitive moat will serve the company and its shareholders well for years to come.
Constellation announced in its last quarterly earnings report that it expects to increase the dividend by another 10% in 2026, following a 10% increase in 2025. Constellation also plans to buy back another $5 billion in shares this year, another bullish sign for investors.
As of this writing, Constellation's stock has dropped 13% since the beginning of 2026. This drop in share price marks an appealing entry point for investors still on the sidelines.
Oklo is the nuclear stock of the future
You may be surprised to see a pre-revenue company on this list of nuclear stocks to buy and hold for decades. Admittedly, Oklo is a far higher-risk investment than Cameco or Constellation, but the upside potential is also massive for this designer of small nuclear reactors.
The company's partnerships are gaining real momentum. It recently announced a high-profile collaboration with Nvidia and the Los Alamos National Laboratory to support the federal government's Genesis Mission. Inclusion in this deal is a real boost for the company's credibility and future commercial viability.
Oklo is awaiting full licensing approval from the Nuclear Regulatory Commission (NRC) to become fully operational. The company could start generating real revenue by 2027.
The stock is quite volatile. The 52-week range spans from a low of $22 per share to a high of $193 per share. Oklo is best suited for those who can withstand wild price swings. As of this writing, Oklo is trading around $70 per share, which is a decent entry point considering the bullish partnership pipeline.
Nuclear is here to stay
Nuclear energy is increasingly becoming more efficient and clean. In a world with insatiable energy demand and a growing appetite for sustainability, nuclear will play a significant role. Cameco, Constellation, and Oklo each have their own charted paths within this sector, but will all play hugely impactful parts.
Depending on your time horizon and risk profile, these three companies are worth buying and holding onto for decades.
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Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cameco, Constellation Energy, and Nvidia. The Motley Fool has a disclosure policy.
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