Goldman Sachs has identified several high‑rated stocks that are driving growth in data‑center infrastructure, with a few also delivering attractive dividend yields. The firm’s latest “Ten Buys” list, focused on energy and power equities, highlights five key investment themes: merger‑driven upside, optimism for refining margins, mean‑reversion opportunities in Big Oil, compelling risk‑reward in international oil services, and the expanding data‑center and power generation narrative. Kodiak Gas Services and The Williams Companies feature in the data‑center power segment and offer dividend yields that exceed the S&P 500’s current 1.04 % yield. Kodiak Gas Services, a Texas‑based infrastructure firm specializing in natural‑gas compression, is viewed by Goldman as a particularly interesting mid‑stream mid‑cap opportunity. The company is projected to achieve roughly 15 % EBITDA growth through 2030, driven by its core compression operations and expansion into behind‑the‑meter power generation—energy produced or stored on the customer side of the meter, which enables data centers to meet power needs without overloading the local grid. In early May, Kodiak partnered with Baker Hughes to secure multiyear gas turbines and generators for its behind‑the‑meter initiatives. Goldman’s buy rating on Kodiak aligns with consensus, as all 15 analysts covering the stock rate it a buy or strong buy, according to LSEG. While the consensus price target implies 27 % upside, Goldman’s $89 target suggests a more than 36 % increase from the prior closing price. The stock has risen nearly 75 % year‑to‑date and currently boasts a 3 % dividend yield. The Williams Companies, headquartered in Oklahoma, are described by Goldman as “one of the more compelling Buys” in large‑cap midstream coverage, benefitting from rising natural‑gas demand. Although traditional pipeline projects have been modest, the firm’s diversification into behind‑the‑meter contracts is seen as particularly attractive. Leadership highlighted three new initiatives—Neo, a behind‑the‑meter project with a leading hyperscaler; Atlas, a gas‑infrastructure agreement to serve a large investment‑grade data‑center customer in the Northeast; and Silver Spur, an expansion of the Northwest Pipeline system. Goldman’s $82 price target represents nearly 12 % upside from the latest close, with shares up about 24 % YTD and a 2.8 % dividend yield. Analyst sentiment is similarly bullish, with 20 of 25 covering firms rating the stock a buy or strong buy. Other dividend‑paying names on Goldman’s “Ten Buys” list include Expro Group Holdings (≈1.9 % yield), Marathon Petroleum (≈1.3 % yield), and ConocoPhillips (≈2.8 % yield).
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