This S&P 500 Stock Is Now Beating Palantir As The Year's Winner

Move aside Palantir Technologies (PLTR). There's a new top stock in the S&P 500 so far this year — thanks to a stellar April.

Shares of Houston-based electric utility NRG Energy (NRG) are up 72% this year. Much of that gain is due to a 42% jump just in the month of April. It makes NRG the top-performing S&P 500 stock this year, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge. It even edges out defense company Palantir, which is up 68% on the year.

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NRG, like many other utilities, is well-positioned for the Trump administration. It relies mainly on U.S. consumers and uses nuclear power. The administration is easing rules on nuclear power use.

"The outlook for utilities remains constructive and largely insulated from tariffs. Be they electric, gas or water utilities, these businesses predominantly service local catchments and do not have direct exposure to international trade," said Shane Hurst, portfolio manager at ClearBridge Investments. "Certain components of a U.S. utility's supply chain, such as electric components, may be sourced from overseas with exposure relatively limited."

Big Gains In May

May was a good month for the S&P 500 beyond just NRG. The S&P 500 rose 6.4% in the month, breaking a three-month losing streak.

And May's rally undid much of the damage during the year. The S&P 500 is now up 0.6% on the year. That's a big relief as the S&P 500 was flirting with a bear market just weeks ago. Half of the stocks in the S&P 500 are now in the black for the year.

NRG Turning On The Jets

NRG is just one utility capitalizing on higher power demands due to AI. Training AI models consumes large amounts of electricity. Analysts think the company's profit will rise 9% in 2026 following a 9% drop in 2025. The EPS Rating is 77, but thanks to its surging stock the RS Rating is 97. It's not a buy, though, as shares are extended 50% from the buy point.

Constellation Energy (CEG), too, shot up more than 35% this year. It now has an RS Rating of 93. Analysts think the Maryland-based utility will put up 8% earnings growth this year and 17% in 2026.

Looks like Palantir is getting some competition for stock of the year.

Top S&P 500 Stocks This Year

Sources: S&P Global Market Intelligence, IBD