American Electric Power vs. GE Vernova: Which Utilities Stock Is a Better Buy in 2026?

Both American Electric Power and GE Vernova are benefiting from unprecedented demand driven by the AI data center boom. AEP operates the largest U.S. electric transmission system with steady 11% rate base growth projected through 2030, while GE Vernova is a global power generation leader with a massive $163 billion backlog expected to reach $200 billion by 2027. Despite AEP's conservative valuation and stable dividend, the analyst recommends GE Vernova due to its superior growth trajectory and record free cash flow generation.