5 Best Energy Stocks to Buy Now

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

Number of Hedge Fund Holders: 63

NextEra Energy, Inc. (NYSE: NEE) distributes electric power to retail and wholesale customers in North America, using wind, solar, nuclear, and other energy sources to generate its electricity. The company ranks 2nd on our list of the best energy stocks to buy now.

President Biden’s infrastructure plan has resulted in certain clean energy stocks standing to benefit from extensions of investment and production tax credit meant to uplift commercial solar and wind, and NextEra Energy, Inc. (NYSE: NEE) is one of those stocks. Barclays has an Equal Weight rating on the shares as of this May and the company has offered guidance indicating an adjusted EPS growth of 6-8% for 2022 and 2023.

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 a gross profit margin of 55.97% and the stock has gained 19.25% 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.