5 Best Climate Change Stocks To Buy According To Hedge Funds

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

Number of Hedge Fund Holders: 59

NextEra Energy, Inc. (NYSE:NEE) is a Juno Beach, Florida-based electric utility company with a generation capacity of 58 GW and a headcount of 14,900 employees. The company already has 16,000 megawatts (MW) of zero-emission power generation capacity through wind energy.

NextEra Energy, Inc. (NYSE:NEE) has a significant backlog of renewable energy projects in the pipeline that have a favorable recovery on investments due to support provided by regulatory recovery mechanisms in place. One of its subsidiaries, in the form of FPL, is the biggest solar energy generator in Florida, with an output of 2,700 MW through its 40 facilities. Given the company’s profile and financial outlook, James Thalacker from BMO Capital increased the price target on NextEra Energy, Inc. (NYSE:NEE) stock from $92 to $100 and maintained an Outperform rating on September 16. The analyst believes that NextEra Energy, Inc. (NYSE:NEE) stock should trade at a premium valuation based on its fundamentals and growth drivers.

NextEra Energy, Inc. (NYSE:NEE) is considered one of the best climate change stocks currently, with 59 hedge funds having a stake in the company as of Q2 2022.