In this piece, we will take a look at the five most profitable renewable energy stocks. If you want to skip our primer on the renewable energy sector and the latest news, then take a look at 13 Most Profitable Renewable Energy Stocks.
5. CPFL Energia S.A. (BVMF:CPFE3.SA)
Latest TTM Net Income: $1 billion
CPFL Energia S.A. (BVMF:CPFE3.SA) is one of the oldest companies on our list since it was set up in 1912. Headquartered in Campinas, SP, Brazil, the firm provides electricity to all kinds of users in its home country. Out of its four latest quarters, the firm has beaten analyst EPS estimates in three. Its shares are rated Buy on average and analysts have set an average share price target of BRL39.23 to price in a percentage upside of just 1.4%.
4. Companhia Energética de Minas Gerais – CEMIG (NYSE:CIG)
Latest TTM Net Income: $1 billion
Companhia Energética de Minas Gerais – CEMIG (NYSE:CIG) is a Brazilian utility headquartered in Belo Horizonte, Brazil. It is one of the biggest energy companies in Brazil and accounts for more than ten percent of the country’s power generation capacity.
During Q3 2023, 15 out of the 910 hedge funds covered by Insider Monkey’s research had bought and owned Companhia Energética de Minas Gerais – CEMIG (NYSE:CIG)’s shares. Douglas Harold Hart Polunin’s Polunin Capital was the firm’s biggest hedge fund investor as it owned 12.1 million shares that were worth $29.3 million.
Follow Companhia Energetica De Minas Gerais (NYSE:CIG)
Follow Companhia Energetica De Minas Gerais (NYSE:CIG)
3. Brookfield Renewable Corporation (NYSE:BEPC)
Latest TTM Net Income: $1.5 billion
Brookfield Renewable Corporation (NYSE:BEPC) is an American renewable energy utility with a presence in several countries and a power generation capacity of more than twelve thousand megawatts. Even though the firm has missed analyst EPS estimates in all four of its latest quarters, the shares are rated Strong Buy on average and the average share price target is $34.33.
2. Chubu Electric Power Company, Incorporated (OTC:CHUEF)
Latest TTM Net Income: $2.73 billion
Chubu Electric Power Company, Incorporated (OTC:CHUEF) is a Japanese utility headquartered in Nagoya, Japan. It is another old company since the firm has been in business for more than a century after being set up in 1889. Chubu Electric Power Company, Incorporated (OTC:CHUEF) generates electricity through nuclear, hydroelectric, wind, and other clean sources. December 2023 has been a controversial month for the firm as a Japanese regulator is fining it for engaging in bribery.
1. China Yangtze Power Co., Ltd. (SHA:600900.SS)
Latest TTM Net Income: $3 billion
China Yangtze Power Co., Ltd. (SHA:600900.SS) is a Chinese utility company with a presence in several Asian and South American countries. It is one of the biggest renewable energy companies in the world, known particularly for generating power through hydroelectric plants. Notably, China Yangtze Power Co., Ltd. (SHA:600900.SS) operates the world’s largest dam, the Three Gorges Dam that is capable of generating more than 20,000 megawatts of electricity. However, the Three Gorges Dam isn’t the only one in China Yangtze Power Co., Ltd. (SHA:600900.SS)’s portfolio, with other assets also capable of generating tens of thousands of megawatts of clean and renewable energy.
Disclosure: None. You can also take a look at 14 Best Automation Stocks To Buy Now and 12 Most Promising Gene Editing Stocks According to Hedge Funds
