The S&P/ASX 200 Index (ASX: XJO) rose by 6.8% and delivered total returns, including dividends, of 10.32% last year.
The energy sector endured a second difficult 12-month period, with the S&P/ASX 200 Energy Index (ASX: XEJ) falling 2.25%.
An average dividend yield of 5.46% brought the sector into the green, delivering a total return of 3.21%.
This was a vast improvement on 2024, when ASX 200 energy shares fell 18.83% and gave a negative total return of 13.87%.
The top three ASX 200 energy shares for capital growth last year were uranium explorers and producers.
The uranium price was volatile last year but gained momentum in 2H CY25, hitting a 15-month high of $83.50 per tonne in September.
This was partly due to the US strengthening its commitment to nuclear power.
This included locking in an $80 billion deal with Canadian Westinghouse Electric to build nuclear reactors.
Also, supply was strained, with Canada's Cameco Corp and the world's top producer NAC Kazatomprom JSC cutting production guidance.
The uranium price was also supported in 2H CY25 by physical uranium investment funds buying up more yellowcake.
The world's largest fund, Sprott Physical Uranium Trust, announced the purchase of $200 million of uranium in June.
Today, the uranium price is US$81.95 per pound.
Let's take a look at last year's strongest stocks.
5 best ASX 200 energy shares for capital growth
These were the five best-performing energy shares for price growth in 2025.
1. Deep Yellow Ltd (ASX: DYL)
ASX 200 uranium explorer Deep Yellow came out on top, rising 63% to close at $1.84 per share on 31 December.
The stock's 52-week high was $2.49.
Ord Minnett has a buy rating on Deep Yellow with a 12-month share price target of $2.
Goldman Sachs gives the stock a hold rating with a target of $1.85.
2. Nexgen Energy (Canada) CDI (ASX: NXG)
Canadian uranium explorer Nexgen Energy had the second-best capital gain last year.
Nexgen Energy shares increased 30% to close at $14 per share on 31 December.
The stock's 52-week high was $15.21 per share.
NexGen ascended into the benchmark ASX 200 Index in the December quarter rebalance.
Shaw & Partners has a buy rating on the ASX 200 energy share with a price target of $17.70.
Petra Capital also has a buy rating on Deep Yellow shares and a target of $17.14.
3. Paladin Energy Ltd (ASX: PDN)
The market's largest ASX 200 uranium share, Paladin Energy, is next in line.
The Paladin Energy share price rose 27% to close the year at $9.59. Its 52-week high was $9.98.
UBS has a buy rating on Paladin Energy shares with a 12-month target of $9.
Goldman Sachs gives the stock a hold rating with a target of $9.05.
4. Whitehaven Coal Ltd (ASX: WHC)
Shares in ASX 200 coal miner Whitehaven lifted 25% to finish 2025 at $7.75 per share.
The ASX 200 energy share's 52-week high was $8.03.
UBS has a sell rating on Whitehaven Coal with a price target of $7.15.
Macquarie has a buy rating with an $8 target.
5. Ampol Ltd (ASX: ALD)
Fuel retailer Ampol rounds out the top five ASX 200 energy shares for 2025.
The Ampol share price increased 13% to finish the year at $31.93 per share. The 52-week high was $33.14.
Ord Minnett says Ampol shares are a buy.
The broker gives the stock a 12-month target of $37.
RBC Capital also says buy with a $35 target.
The post 5 best ASX 200 energy shares of 2025 appeared first on The Motley Fool Australia.
Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Cameco, Goldman Sachs Group, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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