13 Best Utility Stocks to Buy According to Analysts

8. GE Vernova Inc. (NYSE:GEV)

Average estimated analysts’ upside: 21.31%

Number of Hedge Fund Holders: 111

​GE Vernova Inc. (NYSE:GEV) is a spin-off from General Electric that went public in 2024 and operates through three main segments: Power, Wind, and Electrification. The Power segment manufactures and services gas, nuclear, hydro, and steam technologies, while the Wind segment offers onshore and offshore wind turbines and blades. The Electrification segment provides grid solutions, power conversion, solar and storage solutions, and electrification software for electricity operations. GEV ranked 1^st on our recent list of 10 Best Hydrogen Stocks to Buy According to Billionaires.

GE Vernova Inc. (NYSE:GEV) demonstrated strong performance in 2024, booking $44 billion in orders with $35 billion in revenue, while achieving EBITDA margin expansion across all segments and generating over $1 billion improvement in free cash flow. The company grew its backlog to $119 billion and nearly doubled its cash balance to over $8 billion since the spin, partly through strategic value creation opportunities such as partial stake sales of GEV T&D India and China XD Electric, which generated $1.3 billion of pretax proceeds.

GE Vernova Inc. (NYSE:GEV) is experiencing robust market demand, particularly in Power, where gas generation drove significant orders growth, with approximately 20 gigawatts of gas orders booked in 2024, double the previous year’s level, and securing 9 gigawatts of slot reservation agreements for 2025-2026 deliveries. In Electrification, demand remains strong with equipment orders more than doubling in Q4 2024, driven by customers modernizing and investing in critical grid components, while the Wind segment showed progress in its turnaround, cutting EBITDA losses by almost half despite lower revenues. The company is positioning itself for future growth by expanding production capacity to produce 70 to 80 heavy-duty gas turbines per year beginning in the second half of 2026, up from 48 currently. Besides a 21.31% estimated average analysts’ upside, GEV is also widely held by hedge funds, making it one of the best utility stocks on our list.