Top Nuclear Stocks to Buy in 2026: Comparing Cameco and Duke Energy

The nuclear energy sector is experiencing unprecedented momentum as investors seek reliable energy solutions amid rising artificial intelligence demand. Two compelling nuclear stocks to buy for income-focused portfolios are Cameco (NYSE: CCJ) and Duke Energy (NYSE: DUK), each offering distinct advantages depending on your investment objectives. While both represent solid nuclear stocks to buy, they cater to different investor profiles—one emphasizing capital appreciation and the other prioritizing consistent dividend income.

The Nuclear Energy Sector: Why Now Matters

Nuclear power is undergoing a significant renaissance in the United States. Three converging forces are driving this transformation: artificial intelligence creating unprecedented electricity demand, government policies shifting decisively toward nuclear power promotion, and public perception increasingly viewing nuclear energy favorably. However, investing in nuclear infrastructure requires patience—building a single reactor typically spans multiple years, with an operational lifespan of approximately 40 years that can extend to 80 years with proper maintenance. This reality makes nuclear stocks to buy particularly suitable for long-term, passive income strategies seeking exposure to this fundamental energy transition.

Cameco: Mining the Nuclear Opportunity

Cameco operates as the world’s second-largest uranium mining company, trailing only Kazakhstan’s state-owned Kazatomprom. The company’s business model is straightforward: extract and refine uranium fuel for global nuclear reactors.

Financial Performance: The company’s financial metrics reflect strong operational execution. Cameco generated 17% of the world’s uranium supply in 2024 and maintains impressive operational efficiency with a 15.18% net income margin. Most notably, the company has achieved a three-year revenue compound annual growth rate (CAGR) of 24.18%, demonstrating robust expansion momentum.

Stock Performance & Dividend: Cameco’s equity price has substantially outpaced major market benchmarks, appreciating 124% over the trailing 12 months—far exceeding the S&P 500’s performance during the same period. However, this growth focus comes with a trade-off on income. The company distributes an annual dividend of $0.17 per share, translating to a modest 0.16% yield at prevailing prices. While Cameco has modestly increased its dividend over the past two years, the distribution remains limited for income-focused investors.

Duke Energy: Nuclear Assets with Superior Dividend Economics

Duke Energy operates as a major power generation company headquartered in Charlotte, North Carolina, serving the southeastern and midwestern United States. Beyond its diverse energy portfolio encompassing fossil fuel and renewable resources, Duke operates 11 nuclear reactors distributed across six facilities in the Carolinas—providing meaningful exposure to nuclear energy generation.

Strategic Market Position: The Carolinas benefit from significant demographic tailwinds. U.S. Census data indicates the southern United States represents the nation’s most populous region with 132.6 million residents, while the Carolinas specifically are experiencing among the fastest population growth rates. This secular demand expansion supports steady electricity consumption growth independent of data center construction needs.

Financial Profile & Dividend Appeal: Duke Energy demonstrates solid financial fundamentals with a 15.97% net profit margin and a three-year revenue CAGR of 5.29%—notably more conservative than Cameco but reflecting its mature utility profile. The dividend advantage becomes immediately apparent: Duke distributes $4.26 annually per share ($1.07 quarterly), generating a 3.65% yield at current market prices. More impressively, Duke maintains a 15-year track record of consecutive dividend increases, providing shareholders with proven income growth.

Duke’s 10% total return over the past 12 months may trail Cameco’s explosive growth but actually strengthens the dividend sustainability profile, maintaining an attractive and reliable income stream.

Choosing Your Nuclear Stock Strategy

Both companies represent legitimate ways to gain nuclear energy exposure, but your choice depends on investment priorities:

Select Cameco If: You prioritize capital appreciation and long-term growth potential, accept minimal dividend income, and have the tolerance for higher-volatility equity markets. Cameco offers concentrated uranium sector exposure with impressive fundamental momentum.

Select Duke Energy If: You seek immediate and growing dividend income with lower volatility, prefer established utility economics, and value the demographic tailwinds supporting long-term electricity demand in fast-growing U.S. regions.

The Bottom Line

Among nuclear stocks to buy for income generation, Duke Energy delivers superior dividend yield and proven distribution growth despite offering more modest price appreciation than Cameco. The choice ultimately reflects your personal financial objectives—growth-oriented investors might favor Cameco’s expansion trajectory, while income investors should seriously consider Duke Energy’s compelling 3.65% yield paired with consistent dividend increases and demographic growth support in its service territories.