1 Energy Stock That Actually Benefits From $100 Oil (It's Not Who You Think)

By Todd Shriber – Mar 26, 2026 at 12:30PM ESTKey PointsShares of NextEra Energy declined in recent weeks, but that may be a case of markets missing the mark.The company’s deep renewable energy exposure could make it a winner if $100-a-barrel oil lasts awhile.The utility is also levered to rising demand for natural gas -- a cheaper alternative when crude is expensive.When petroleum prices surge, investors often rush to embrace the usual suspects. Those include exploration and production equities as well as shares of integrated oil giants. With conflict raging in Iran, that approach has been rewarded. Still, there are other beneficiaries of elevated oil prices, some of which may surprise investors. Renewable energy stocks, including solar energy names, have a knack for shining when oil surges because the commodity is costlier to consume, and the economic allure of renewables comes into focus. That brings us to NextEra Energy (NEE 0.11%). This utility stock could be a $100 oil winner. Image source: Getty Images. As NextEra operates a regulated utility, it would be reasonable to expect the stock to show its defensive mettle during geopolitical turmoil; however, it's actually down 2.5% over the past month. Obviously, that's disappointing. After all, utilities stocks are viewed as shelter-from-the-storm plays when market turbulence runs hot. A case can be made that NextEra's recent lethargy is an example of the market getting it wrong, or that the stock is a baby being thrown out with the bathwater, because the company has multiple avenues to potentially benefit from $100-per-barrel oil. First, NextEra is one of the top renewable energy developers and operators in the country. It was quick to embrace wind power, allowing it to secure long-term contracts and prime locations for wind farms. It's also a major player in the solar energy arena. So if oil prices stay "higher for longer," NextEra doesn't need to pivot to benefit because it's already where it needs to be to capitalize on that scenario. ExpandNYSE: NEENextEra EnergyToday's Change(-0.11%) $-0.10Current Price$91.06Key Data PointsMarket Cap$190BDay's Range$90.56 - $92.0052wk Range$61.72 - $95.91Volume3.5MAvg Vol9.7MGross Margin36.20%Dividend Yield2.55% Second, NextEra is also a prominent natural gas utility. Previous eras of high oil prices confirm that when crude is expensive, end users often switch to cheaper natural gas. Put these two points together, and it's fair to say NextEra covers a lot of high oil price bases. And for good measure, the company's natural gas footprint gives it some exposure to the data center trade because that commodity powers some data center hubs. Read NextMar 24, 2026 •By Reuben Gregg BrewerPrediction: The Next Phase of Artificial Intelligence (AI) Won't Be About Chips. Here are the Stocks That Win in 2026.Mar 22, 2026 •By Matt DiLalloThe Best 3 Renewable Energy Stocks to Buy and Hold for DecadesMar 22, 2026 •By Courtney Carlsen2 Brilliant Energy Stocks to Buy Now and Hold for the Long TermMar 21, 2026 •By Reuben Gregg Brewer3 Green Energy Stocks to Buy in MarchMar 19, 2026 •By James HiresThis Nuclear Dividend Stock Could Turn $1,000 Into a Lifetime Income StreamMar 18, 2026 •By Matt DiLalloRecession-Proof Stocks: Industries That Thrive During RecessionsStocks MentionedNextEra EnergyNYSE: NEE$90.92(-0.26%)-$0.24*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.