Most people think AI is just about the tech story. But, actually it’s also part of the energy story. And right now, natural gas is at the center of it. Data centers need constant, reliable power, and this kind of power doesn’t come from wind turbines or solar panels; it comes from burning fuel. As demand surges, natural gas producers, exporters, and pipeline operators are all getting a new tailwind.
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Here are five publicly listed stocks already moving with the trend.
EQT Is the Cleanest Way to Bet on U.S. Gas
EQT (EQT) is the largest producer of natural gas in the U.S., and it just got even bigger. Its recent deal to buy Equitrans Midstream (ETRN) gave it control over more pipelines, which means it now handles more of its own delivery and logistics.
That’s a big deal as AI data centers multiply and need consistent fuel. EQT has already rallied over 14% this year, and the stock just pulled back after touching a 52-week high. Traders are watching the $46–$50 zone for support, with a potential move toward $70 if gas demand keeps climbing.
Expand Energy Is the New Giant in Town
Expand Energy (EXE), formed from the merger of Chesapeake (CHK) and Southwestern (SWN), is now one of the biggest gas players in the U.S. Its footprint runs through key shale basins like the Haynesville and Marcellus, both of which are near major AI infrastructure zones.
EXE stock has gained around 43% in the last 12 months and is sitting just above the $100 mark. A pullback to $96 or lower could be a solid entry point. Expand Energy has scale, location, and a fresh post-merger structure backing it; therefore it is well-positioned to ride the demand surge.
NextDecade’s Export Deal Is What Changed the Game
NextDecade (NEXT) is building one of the largest LNG export terminals in Texas, and it just signed a series of deals to ship gas to Europe and Asia. The market has noticed. The stock is up 44% year to date.
The breakout above $10 last month was a technical shift. The chart shows a clean move out of a multi-year base. Analysts are eyeing a price target near $15. For traders looking for pullbacks, the $10.50 range looks like a solid area to build a position.
Cheniere Energy Is the Face of U.S. LNG
Cheniere Energy (LNG) runs two of America’s largest LNG terminals and handles more than half of all U.S. gas exports, and this number will keep growing. In July, the EU signed a new agreement to import $250 billion worth of U.S. LNG over three years.
Cheniere’s stock popped 9% after the announcement. It’s a steady play for investors who want direct exposure to the U.S. becoming a global gas superpower.
Kinder Morgan Gets Paid No Matter Who Buys the Gas
Kinder Morgan (KMI) owns 40% of the natural gas pipelines in the United States. It doesn’t drill or export, but it’s in the business of moving gas from where it’s found to where it’s needed. That includes AI data centers, LNG terminals, and industrial users.
The company runs a tollbooth model, whereby it charges for access to its network. So as gas volumes rise, Kinder Morgan’s revenue does too. It’s not super glamorous, but it’s reliable, and it will benefit directly from the infrastructure needed to support AI’s growth trajectory.
Investors Can Compare These Stocks Side-by-Side on TipRanks
Every time an AI company builds a new data center, the grid has to supply more power. Right now, natural gas is the fastest and most scalable way to meet that demand. These five stocks—EQT, Expand Energy, NextDecade, Cheniere, and Kinder Morgan—are positioned across the entire value chain. EQT leads in production, Expand Energy brings size and scale, NextDecade focuses on LNG development, Cheniere dominates U.S. gas exports, and Kinder Morgan controls the pipelines and terminals that move gas where it’s needed.
According to TipRanks, we can see that all five stocks have upside potential, with EQT, EXE, NEXT, and LNG rated Strong Buys by Wall Street analysts. Only KMI has a slightly lower consensus with a Moderate Buy, though it holds the highest Smart Score at 9. The average price targets suggest potential gains ranging from 13% for KMI to over 35% for NextDecade. Analysts see EQT climbing from $52.34 to $64.38, while EXE could jump from $101.97 to $134.28. Click on the image below to break down each stock’s price target, valuation, and fundamentals using the TipRanks Stock Comparison Tool.
