11 Best Alternative Energy Stocks to Buy Now

6. NRG Energy, Inc. (NYSE:NRG)

Number of Hedge Funds Holders: 53

NRG Energy, Inc. (NYSE:NRG) is a dominant energy supplier in the U.S. and Canada, offering home services, power generation, and retail electricity. With a portfolio covering solar, natural gas, and battery storage solutions, the company runs across multiple segments, including East, West, Texas, and Vivint Smart Home.

NRG Energy, Inc. (NYSE:NRG) surpassed the midpoint of its increased guidance of EPS by 8%, marking 45% growth from 2023. It reported adjusted earnings per share of $6.83 for 2024, exhibiting strong financial performance in the full year ended December 31, 2024, as well as Q4. Its robust performance across its retail and energy operations was reflected by achieving record adjusted EBITDA of $3.8 billion and free cash flow before growth of $2.1 billion.

Furthermore, NRG Energy, Inc. (NYSE:NRG) has formed a strategic collaboration with GE Vernova and Kiewit’s TIC subsidiary to expedite the development of over 5 gigawatts of new natural gas combined cycle power plants in ERCOT and PJM markets, marking a key milestone. Increasing electricity demand from AI-driven data centers and industrial expansion is to be addressed by the first 1.2 GW, predicted to come online in 2029. NRG Energy (NYSE:NRG) is well-positioned as a prominent player in the growing energy landscape due to this partnership.

In addition, NRG Energy, Inc. (NYSE:NRG) is advancing on its 1.5 GW of brownfield development projects and acquiring agreements with data center operators for long-term power supply in Texas to expand its footprint there. To capitalize on growing power demand, the company focuses on utilizing its retail platform and generation assets.

Furthermore, NRG Energy reinforced its dedication to shareholder value by increasing its quarterly dividend by 8% to $0.44 per share, which aligns with its capital return strategy. While maintaining financial discipline and operational excellence, NRG continues to remain strongly positioned to implement its prolonged growth strategy for the future. It is one of the Best Clean Energy Stocks.