5 Best Alternative Energy Stocks To Buy Now

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

Number of Hedge Fund Holders: 59

NextEra Energy, Inc. (NYSE:NEE) is a Florida-based company that generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, coal, and natural gas facilities. NextEra Energy, Inc. (NYSE:NEE) is one of the best clean energy stocks to buy now. On October 14, the company declared a quarterly dividend of $0.425 per share, in line with previous. The dividend is payable on December 15, to shareholders of record on November 25. 

On October 24, Guggenheim analyst Shahriar Pourreza maintained a Buy rating on NextEra Energy, Inc. (NYSE:NEE) but trimmed the price target on the shares to $99 from $108. The analyst updated select estimates ahead of Q3 earnings season from the Power and Utilities group to reflect “known and measurable year-over-year items,” to adjust for seasonality, and to re-mark to the latest commodity curves.

According to the second quarter database of Insider Monkey, 59 hedge funds were bullish on NextEra Energy, Inc. (NYSE:NEE), compared to 64 funds in the last quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 16.2 million shares worth $1.25 billion. 

In its Q2 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and NextEra Energy, Inc. (NYSE:NEE) was one of them. Here is what the fund said:

“We increased our exposure to the energy transition during the quarter with new positions in Iberdrola (OTCPK:IBDSF), a Spanish-based integrated utility that is also one of the leading renewable energy developers in the world, and NextEra Energy, Inc. (NYSE:NEE), an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. The war has opened the eyes of the world that energy independence is critical. Renewables are for many countries the only way to get to the target. It is expected that existing renewable project pipelines will be executed faster, and more projects added to existing pipelines.

The energy transition would be extremely helpful for climate change and Iberdrola ranks well on our ESG matrix. NextEra, meanwhile, recently raised future earnings forecasts, citing a very favorable macro environment for rapid renewable generation expansion driven by decarbonization of the U.S. economy and the relative attractiveness of renewable generation in the context of high natural gas and power prices.”

You can also take a look at 10 Best Data Center Stocks To Buy and Goldman Sachs Energy Stocks. 

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