The Top 3 Nuclear Energy Stocks to Buy Right Now

With the war in Iran pushing oil and gas prices higher, and the AI revolution contributing to higher electricity prices, alternative energy sources are looking pretty attractive right now.

Perhaps none are looking as attractive as nuclear power, which has the advantage of not requiring constant refueling from unpredictable suppliers and the ability to be built anywhere. Some nuclear stocks are still in the exciting start-up phase, and some have been around for decades.

Here are the top three nuclear stocks to buy right now for investors who want to ride this exciting energy trend.

Image source: Getty Images.

1. Oklo

Early-stage nuclear start-up Oklo (NYSE: OKLO) has already scored some big wins in its quest to make small modular nuclear reactors (SMRs) a reality.

The company began construction on its first nuclear facility on the grounds of the Idaho National Laboratory in 2025 as part of the U.S. Department of Energy's (DoE) Reactor Pilot Program. When completed, the reactor facility -- dubbed the "Aurora Powerhouse" -- is expected to generate 75 megawatts of clean power.

The company expects the Idaho Aurora Powerhouse to begin commercial operations by late 2027, and is still awaiting a crucial approval by the U.S. Nuclear Regulatory Agency (NRC). However, last week, the company announced it had received DoE approval for the Nuclear Safety Design Agreement (NSDA) for the plant, and has moved on to the next step: review of its Preliminary Documented Safety Analysis.

At the same time, Oklo's wholly owned subsidiary Atomic Alchemy received an NRC materials license to handle, process, and distribute isotopes, as well as DoE approval for its NSDA for an isotopes test reactor in Texas. These regulatory advances suggest that Oklo is on track to complete its regulatory journey prior to the Aurora Powerhouse's late 2027 launch.

Investors should be aware, however, that Oklo is still in its pre-commercial stage, and there is still a lot that could potentially derail its ultimate commercial success, including regulatory setbacks and operational challenges. It's an inherently risky and speculative stock, and only the very risk-tolerant should even consider investing in Oklo at this stage, and even they should only invest money they can afford to lose. That said, for growth-focused nuclear investors, Oklo is a top buy right now.

2. NuScale Power

Regardless of whether nuclear power someday supplants oil and gas as a power source, the world may still be reliant on oil and gas for crucial petrochemicals. However, nuclear start-up NuScale Power (NYSE: SMR) -- which, like Oklo, focuses on SMRs -- just signed an agreement that could help petrochemical plants become more energy-efficient.

NuScale is partnering with Ebara Elliott Energy, a manufacturer of industrial turbomachinery, to field test a commercial-scale, high-temperature steam compressor powered by NuScale's SMRs. If successful, these compressors could use SMRs to provide process heat for petrochemical plants. While standard light water reactors were previously believed to be unable to reliably produce process steam for industrial applications at a temperature of 500 degrees Celsius or higher, NuScale believes its SMRs are up to the task.

Image source: Getty Images.

If successful, this test could open up a massive new market opportunity for NuScale's SMRs. While most nuclear power plants do rely on the steam generated by heat from the reactor core to power steam turbines that produce electricity, that steam can also be used to provide controlled heat and optimal conditions for petrochemical distillation or evaporation.

Like Oklo, NuScale is an early-stage start-up that carries a number of risks for its shareholders. Shares of both NuScale and Oklo have been particularly volatile, and that volatility is expected to continue, so only risk-tolerant investors should consider buying NuScale shares now.

3. Duke Energy

If you're not a risk-tolerant investor, or you aren't looking for a pure-play nuclear company, but instead just want to make sure your balanced portfolio includes some nuclear energy stocks, you might consider utility Duke Energy (NYSE: DUK). Duke Energy is the second-largest U.S. utility stock, with a $100 billion market cap, and it also has the second-largest nuclear generation portfolio of any U.S. utility company.

Unlike NuScale's and Oklo's, Duke's nuclear power plants are powered by standard light water reactors and have been in service for decades. Also, unlike the two start-ups, Duke's share price is up 10% year to date.

For investors looking for stability, Duke pays a solid dividend that currently yields 3.3%, which the company has raised every year since 2010. Duke Energy may not be as exciting a stock as Oklo or NuScale, but it's certainly more reliable and a much safer place for nuclear-focused investors to put their money.

John Bromels has positions in Oklo. The Motley Fool recommends Duke Energy and NuScale Power. The Motley Fool has a disclosure policy.