In this article, we discuss the 5 best clean energy stocks to invest in. If you want to read our detailed analysis of the renewable energy industry, go directly to the 15 Best Clean Energy Stocks to Invest In.
5. Chevron Corporation (NYSE: CVX)
Number of Hedge Fund Holders: 41
Chevron Corporation (NYSE: CVX) is a company involved in integrated energy, chemicals, and petroleum operations across the globe. The company is also investing in renewable fuels, products, and power to reduce the carbon intensity of its operations. It has two segments, namely the Upstream and Downstream segments. The company ranks 5th on our list of the best clean energy stocks to invest in.
This April, Forbes report that Chevron Corporation (NYSE: CVX) was the first major US oil company to invest in a renewable energy project. The company has invested in an offshore wind power project this year. On June 15th, the company announced that it would be restarting its Train 3 at the Gorgon liquefied natural gas plant in Australia in the coming weeks. In the first quarter of 2021, Chevron Corporation (NYSE: CVX) had $0.9 in EPS and $32.03 billion in revenue. The stock has gained 26.2% in the past 6 months and 26.48% year to date.
By the end of the first quarter of 2021, 41 hedge funds out of the 866 tracked by Insider Monkey held stakes in Chevron Corporation (NYSE: CVX). The total value of their stakes was roughly $4.86 billion. This is compared to the previous quarter’s 50 hedge fund holders with a total stake value of approximately $5.39 billion.
ClearBridge Investments, an investment management firm, mentioned Chevron Corporation (NYSE: CVX) in their first-quarter 2021 investor letter. Here’s what they said:
“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names, (including) Chevron. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”
4. Enphase Energy, Inc. (NASDAQ: ENPH)
Number of Hedge Fund Holders: 49
Enphase Energy, Inc. (NASDAQ: ENPH) sells home energy solutions for the solar photovoltaic industry. The company operates in the US and internationally. It also offers semiconductor-based microinverters, which convert energy at the solar module level. The company ranks 4th on our list of the best clean energy stocks to invest in.
This May, Enphase Energy, Inc. (NASDAQ: ENPH) launched a $500 million buyback program to repurchase shares. In the first quarter of 2021, the EPS of Enphase Energy, Inc. (NASDAQ: ENPH) came in at $0.56, beating estimates by $0.12, and its revenue came in at $301.75 million, representing an increase of 46.81% year over year and beating estimates by $9.32 million. The stock has gained 272.86% in the past year.
By the end of the first quarter of 2021, 49 hedge funds out of the 866 tracked by Insider Monkey held stakes in Enphase Energy, Inc. (NASDAQ: ENPH). The total value of their stakes was roughly $803 million. This is compared to the previous quarter’s 48 hedge fund holders with a total stake value of approximately $988 million.
3. Ford Motor Company (NYSE: F)
Number of Hedge Fund Holders: 49
Ford Motor Company (NYSE: F) is an automobile manufacturing company that has also begun dabbling in the EV business as of late. The company has three segments: Automotive, Mobility, and Ford Credit. The company ranks 3rd on our list of the best clean energy stocks to invest in.
On June 23rd, Ford Motor Company’s (NYSE: F) subsidiary Spin launched its electric scooter, the S-100T. Additionally, Barclays has also raised its price target for Ford Motor Company (NYSE: F) this month to $17 per share as opposed to the previous $15 value. The firm made favorable comments about the company because of mid-month pricing checks coming stronger than expected due to rising car prices and spending power. The new model is said to be the fastest and longest-lasting among Spin’s portfolio. In the first quarter of 2021, Ford Motor Company (NYSE: F) had an EPS of $0.89, beating estimates by $0.68, and its revenue came in at $33.55 billion, showcasing an increase of 7.06% year over year and beating estimates by $1.34 billion. The stock has gained 71.65% in the past 6 months and 79.11% year to date.
By the end of the first quarter of 2021, 49 hedge funds out of the 866 tracked by Insider Monkey held stakes in Ford Motor Company (NYSE: F). The total value of their stakes was roughly $2.19 billion. This is compared to the previous quarter’s 41 hedge fund holders with a total stake value of approximately $1.65 billion.
2. Tesla, Inc. (NASDAQ: TSLA)
Number of Hedge Fund Holders: 62
Tesla, Inc. (NASDAQ: TSLA) is a manufacturer of EVs and energy generation and storage systems in the US, China, and internationally. The company has two segments, Automotive, and Energy Generation, and Storage. It ranks 2nd on our list of the best clean energy stocks to invest in.
On June 24th, Tesla, Inc. (NASDAQ: TSLA) confirmed that it would be opening the Supercharger network to other automakers by September next year, while just a day before this announcement, the company also opened its first charging station in China with solar and energy storage facilities. The company has mentioned that it plans on developing an energy business in China. Tesla, Inc.’s (NASDAQ: TSLA) Model 3 also ranked 1st on the cars.com 2021 American-Made Index, while the Model Y ranked 3rd, resulting in the stock rallying in the aftermath.
In the first quarter of 2021, the EPS for Tesla, Inc. (NASDAQ: TSLA) was $0.93, beating estimated by $0.15, while its revenue came in at $10.39 billion, increasing by 73.58% year over year and beating estimates by $112.38 million. The stock has gained 2.43% in the past 6 months.
By the end of the first quarter of 2021, 62 hedge funds out of the 866 tracked by Insider Monkey held stakes in Tesla, Inc. (NASDAQ: TSLA). The total value of their stakes was roughly $10.01 billion. This is compared to the previous quarter’s 68 hedge fund holders with a total stake value of approximately $12.3 billion.
1. NextEra Energy, Inc. (NYSE: NEE)
Number of Hedge Fund Holders: 63
NextEra Energy, Inc. (NYSE: NEE) is a distributor of electric power to retail and wholesale customers in North America. The electricity sold by the company is generating from wind, solar, nuclear, and other energy sources. The company ranks 1st on our list of the best clean energy stocks to invest in.
NextEra Energy, Inc. (NYSE: NEE) is among the clean energy stocks set to benefit from the extension of investment and production tax credit meant to uplift commercial solar and wind coming about as a result of President Biden’s infrastructure plan. This May, NextEra Energy, Inc. (NYSE: NEE) announced its dividend of $0.385 per share with a forward yield of 2.07%. In the first quarter of 2021, NextEra Energy, Inc. (NYSE: NEE) had an EPS of $0.67, beating estimates by $0.06, while its revenue came in at $3.73 billion. The company has gained 21.89% in the past year.
By the end of the first quarter of 2021, 63 hedge funds out of the 866 tracked by Insider Monkey held stakes in NextEra Energy, Inc. (NYSE: NEE). The total value of their stakes was roughly $2.72 billion. This is compared to the previous quarter’s 61 hedge fund holders with a total stake value of approximately $3.07 billion.
You can also take a peek at 10 Best Renewable Energy Stocks to Buy Now and 10 Best Alternative Fuel Stocks to Buy Now.
