5 Best Wind Power and Solar Stocks To Buy

In this piece, we will take a look at the five best wind power and solar stocks to buy. For more stocks, head on over to 11 Best Wind Power and Solar Stocks To Buy.

5. TPI Composites, Inc. (NASDAQ:TPIC)

Number of Hedge Fund Holders: 29

TPI Composites, Inc. (NASDAQ:TPIC) is a backend wind power equipment provider. The firm makes and sells wind turbine blades and assembly solutions. It is a global firm with operations in the U.S., Europe, Mexico, the Middle East, and Africa. TPI Composites, Inc. (NASDAQ:TPIC) is headquartered in Scottsdale, Arizona.

TPI Composites, Inc. (NASDAQ:TPIC) has a whopping $2.7 billion of incoming revenue from contracts until 2024, which is significantly higher than the firm’s current market capitalization of $472 million. The firm is expected to grow its sales by 9% next year and post a 7% operating income growth in 2024. It also has a strong balance sheet with $981 million in total assets and $586 million in liabilities.

Insider Monkey’s Q3 2022 survey of 920 hedge funds revealed that 29 had invested in TPI Composites, Inc. (NASDAQ:TPIC).

TPI Composites, Inc. (NASDAQ:TPIC)’s largest shareholder is Israel Englander’s Millennium Management which owns one million shares that are worth $11 million.

4. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 59

Enphase Energy, Inc. (NASDAQ:ENPH) is a pureplay solar energy company. The firm makes and sells solar power products such as inverters and battery storage systems. It is headquartered in Fremont, California, the United States.

Enphase Energy, Inc. (NASDAQ:ENPH)’s third quarter saw the firm report a stunning 80% annual revenue growth, with its European revenue posting a 70% growth. Revenue during the quarter stood at $634 million, which also marked a 20% sequential, or quarterly, growth. At the same time, Enphase Energy, Inc. (NASDAQ:ENPH)’s margins stood at 43%, despite the inflationary wave that has rocked the industry in 2022.

Consequently, Enphase Energy, Inc. (NASDAQ:ENPH)’s shares are up by 69% year to date, and 59 out of the 920 hedge funds polled by Insider Monkey during this year’s third quarter had bought its shares.

John Overdeck and David Siegel’s Two Sigma Advisors is Enphase Energy, Inc. (NASDAQ:ENPH)’s largest investor. It owns 1.4 million shares that are worth $393 million.

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

Number of Hedge Fund Holders: 73

NextEra Energy, Inc. (NYSE:NEE) generates electricity through wind, solar, nuclear, coal, and natural gas. The firm has close to 29,000 megawatts of power generation capacity and it is headquartered in Juno Beach, Florida.

NextEra Energy, Inc. (NYSE:NEE) is one of the largest energy companies in the U.S., as it is responsible for providing 5% of the country’s electricity. Its power generation assets are present in 39 American states and four Canadian provinces, and NextEra Energy, Inc. (NYSE:NEE)’s customer base covered 11 million people as of December 2021. Additionally, roughly 95% of the firm’s power generation is served through clean energy sources including natural gas, wind, and solar.

As of this year’s September quarter, 73 out of the 920 hedge funds part of Insider Monkey’s research had invested in NextEra Energy, Inc. (NYSE:NEE).

NextEra Energy, Inc. (NYSE:NEE)’s largest shareholder is Ken Fisher’s Fisher Asset Management which owns 9.4 million shares that are worth $741 million.

2. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 88

Tesla, Inc. (NASDAQ:TSLA) is the world’s largest electric vehicle company. While it is commonly thought of as a car maker, the firm is in reality a diversified renewable energy provider as it also sells solar panels and storage systems. The company is headquartered in Austin, Texas.

Tesla, Inc. (NASDAQ:TSLA)’s latest quarter saw the company grow its solar deployments to 94 megawatts for a 13% annual growth. The growth was fueled by residential power projects. During the same quarter, Tesla, Inc. (NASDAQ:TSLA)’s energy storage platforms grew to a whopping 2.1 gigawatts, for a new record that saw the company continue to face higher demand than it can supply.

88 out of the 920 hedge funds part of Insider Monkey’s Q3 2022 survey had bought Tesla, Inc. (NASDAQ:TSLA)’s shares.

Tesla, Inc. (NASDAQ:TSLA)’s largest investor is Catherine D. Wood’s ARK Investment Management which owns four million shares that are worth $1 billion.

1. Berkshire Hathaway Inc. (NYSE:BRK-A)

Number of Hedge Fund Holders: 104

Berkshire Hathaway Inc. (NYSE:BRK-A) is an American investment firm that has interests in a host of different businesses such as consumer technology, energy, automotive, insurance, banking, and finance. The firm is headquartered in Omaha, Nebraska.

Berkshire Hathaway Inc. (NYSE:BRK-A) operates in the renewable energy sector through its Berkshire Hathaway Energy division. The firm’s Berkshire Wind Power Project is the second largest wind project in Massachusetts, and it has an installed power generation capacity of 19.6 megawatts. Additionally, Berkshire Hathaway Energy also partakes in the solar power business, and it has 1,550 megawatts of solar power generation capacity under its belt through some of the largest solar power facilities in the U.S.

Insider Monkey scanned 920 hedge fund portfolios for this year’s third quarter and discovered that 104 had bought a stake in Berkshire Hathaway Inc. (NYSE:BRK-A).

Out of these, Michael Larson’s Bill & Melinda Gates Foundation Trust is Berkshire Hathaway Inc. (NYSE:BRK-A)’s largest shareholder through a $7.9 billion stake that comes via 26 million shares.

Disclosure: None. You can also take a look at 5 Most Valuable Beverage Companies in the World and 10 Best Safe Dividend Stocks for Retirement Portfolios.

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