5 Best Wind Power and Solar Stocks To Buy

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

Number of Hedge Fund Holders: 55

NextEra Energy, Inc. (NYSE:NEE) generates, 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. In 2020, NextEra Energy, Inc. (NYSE:NEE) added 13 wind farms in ten states which grew its wind portfolio by over 2,300 MW. The company expects to bring about 3,700 to 4,400 MW of additional wind energy in 2022 and currently operates 136 wind projects that span over 19 U.S. states and 4 Canadian provinces. NextEra Energy, Inc. (NYSE:NEE) is one of the world’s largest producers of wind and solar energy and is, therefore, the second-best wind power and solar stock to buy.

This April NextEra Energy, Inc. (NYSE:NEE) reported earnings for the fiscal first quarter of 2022 in which it beat EPS estimates by $0.02. The company generated quarterly revenues of $2.89 billion and registered an EPS of $0.74.

Credit Suisse analyst Nicholas Campanella sees NextEra Energy, Inc. (NYSE:NEE) as “fundamentally attractive”, and on April 25, assumed coverage of the company with an Outperform rating and an $87 price target. Campanella contends that NextEra Energy, Inc. (NYSE:NEE) is well-positioned to benefit from current cost inflation and has a competitive advantage over rivals due to its size and scale.

Hedge funds are making sizeable investments in NextEra Energy, Inc. (NYSE:NEE). At the close of the fourth quarter of 2021, 55 hedge funds were long NextEra Energy, Inc. (NYSE:NEE) with stakes worth $2.61 billion. This is compared to 53 hedge funds in Q3 2021 with stakes of $2.37 billion. The hedge fund sentiment for the stock is positive.

As of the end of this March, Fisher Asset Management owns the most shares of NextEra Energy, Inc. (NYSE:NEE), approximately 15.66 million, which makes it the dominating shareholder in the company. The fund’s stakes are valued at $1.32 billion, which covers 0.78% of Ken Fisher’s hedge fund portfolio.