5 Best Hydrogen and Fuel Cell Stocks To Buy

2. Linde plc (NYSE:LIN)

Number of Hedge Fund Holders: 70

Linde plc (NYSE:LIN) is an industrial gas company that provides oxygen, nitrogen, argon, carbon dioxide, helium, and hydrogen, among others. Linde plc (NYSE:LIN) is one of the best hydrogen stocks to invest in. On April 24, the company declared a $1.275 per share quarterly dividend, in line with previous. The dividend is payable on June 16, to shareholders of record on June 2. 

On May 12, Berenberg raised its price target on Linde plc (NYSE:LIN) to $415 from $375, while maintaining a Buy rating on the shares. According to the firm, Linde is prioritizing the “take-or-pay” model for industrial gas volumes, leaning towards stability over taking on price risks associated with clean hydrogen or ammonia. The current primary business of Linde is performing strongly, Berenberg wrote in a research note to investors.

According to Insider Monkey’s first quarter database, 70 hedge funds were bullish on Linde plc (NYSE:LIN), compared to 56 funds in the earlier quarter. 

Madison Funds made the following comment about Linde plc (NYSE:LIN) in its fourth quarter 2022 investor letter:

“Linde plc (NYSE:LIN) stock was strong during the fourth quarter following a solid third quarter. Linde remains well positioned with the passage of the Inflation Reduction Act and energy transition with carbon dioxide sequestration opportunities, gasification services, and various hydrogen projects. Linde and Schlumberger announced that they entered into a collaboration of carbon capture, utilization, and sequestration (CCUS) projects to accelerate decarbonization solutions across industrial and energy sectors. The collaboration will combine decades of experience in carbon dioxide capture and sequestration. The collaboration will focus on hydrogen and ammonia production where carbon dioxide is a by-product. The International Energy Agency estimates that 6 Gigatons of carbon dioxide will need to be abated with CCUS in order to reach net zero by 2050. During the quarter, Linde also announced that it became a signatory to the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative. As a signatory, Linde has committed to aligning its strategy and activities with the UNGC’s Ten Principles across human rights, labor, environment, and anti-corruption.”