10 Best Alternative Fuel Stocks To Buy According to Hedge Funds

3. NextEra Energy, Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 69

NextEra Energy, Inc. (NYSE:NEE) is a leading player in the renewable energy and utility sectors. Headquartered in Juno Beach, Florida, NextEra Energy, Inc. (NYSE:NEE) operates through its subsidiaries, Florida Power & Light Company (FPL) and NextEra Energy Resources, to deliver low-cost, reliable, and clean electricity to millions of customers across the United States by using alternative fuels such as solar, wind, and nuclear.

NextEra Energy, Inc. (NYSE:NEE) is actively expanding its renewable energy portfolio through a combination of new project developments and strategic partnerships. The company has added approximately 3 gigawatts of renewables and storage to its backlog in Q3, bringing the running four-quarter total to approximately 11 gigawatts. NextEra Energy, Inc. (NYSE:NEE) is also focused on driving cost efficiency and innovation across its operations. Additionally, the company is investing in battery storage technology, as storage can be deployed quickly and paired with renewables to provide both energy and capacity. By leveraging its extensive experience and technical expertise, NextEra Energy, Inc. (NYSE:NEE) is well-positioned to capitalize on the significant growth opportunities in the renewable energy market.

FPL, a subsidiary of NextEra Energy, Inc. (NYSE:NEE) is making substantial investments in building a stronger, smarter, and more resilient grid. This includes significant hardening, undergrounding, and automation initiatives, which will be effective in mitigating the impact of severe weather events. The company’s commitment to grid resilience is not only crucial for maintaining reliable service to customers but also for supporting the integration of renewable energy sources.