Bloom Energy Corp. (BE) and Cheniere Energy Inc. (LNG) are identified as the two most likely energy companies to be included in the S&P 500 index during its quarterly rebalancing at the end of September, according to Stephens analyst Melissa Roberts. If added, they would be the first energy inclusions since 2022. Both companies exceed the minimum market capitalization requirement of $22.7 billion, with Bloom Energy having a market capitalization of $69.25 billion and Cheniere Energy at $60.05 billion. Cheniere, in particular, has been eligible for some time, and its inclusion is further supported by the current strength in the energy sector.
Roberts anticipates two or three changes to the index and also named Astera Labs Inc. (ALAB) and Everpure Inc. (P) as strong candidates for admission. Other companies mentioned as possibilities include Credo Technology Group Holdings Ltd. (CRDO), Heico Corp. (HEI), Rocket Companies Inc. (RKT), and Royalty Pharma Inc. (RPRX). The inclusion in the S&P 500 brings prestige to companies and often leads to a stock price increase, such as Marvell Technology (MRVL) seeing a 9% jump after its June 22 inclusion.
To be eligible for S&P 500 inclusion, a company must be U.S.-based, have a market capitalization of at least $22.7 billion, and report positive GAAP earnings in the latest quarter and cumulatively over the past four quarters. Additionally, at least 10% of its shares must be publicly available, and it must meet specific liquidity, trading volume, and public trading duration (at least 12 months) requirements. Index funds, which hold an estimated 30% or more of the S&P 500, often purchase shares of newly added companies, further benefiting them.
Retail investor sentiment for both Bloom Energy and Cheniere Energy is positive, with Stocktwits users expressing bullish views ahead of the potential S&P 500 announcement. Bloom Energy's stock has surged over 138% year-to-date in 2026, while Cheniere Energy has gained approximately 47% over the same period. Bloom Energy recently reported strong Q2 2026 revenue of $1.065 billion, a 165.5% year-over-year increase, with Q2 earnings of $196.29 million and a profit margin of 18.42%.
