5 Solar Energy Stocks That Billionaires Are Piling Into

In this piece, we will take a look at the five solar energy stocks that billionaires are piling into. For a deeper dive into the latest happenings in the solar industry, read 12 Solar Energy Stocks That Billionaires Are Piling Into.

5. Sunrun Inc. (NASDAQ:RUN)

Number of Billionaire Investors In Q3 2023: 10

Sunrun Inc. (NASDAQ:RUN) is an American solar energy systems provider headquartered in San Francisco, California. After its shares dropped by more than 40% year to date, Evercore ISI issued an optimistic note which shared that Sunrun Inc. (NASDAQ:RUN) is now presenting an attractive entry point. Evercore’s share price target for the firm is $42.

By Q3 of 2023 end, 26 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in Sunrun Inc. (NASDAQ:RUN). William B. Gray’s Orbis Investment Management owned the biggest stake which was worth $175 million.

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

Number of Billionaire Investors In Q3 2023: 10

Enphase Energy, Inc. (NASDAQ:ENPH) sells microinverters, batteries, and other products that are used in solar power systems. The firm’s investors were in for some bad news in December 2023, as the stock was removed from the illustrious NASDAQ 100 stock index.

As of September 2023, 40 out of the 910 hedge funds surveyed by Insider Monkey had owned the firm’s shares. Enphase Energy, Inc. (NASDAQ:ENPH)’s largest hedge fund shareholder is Bruce Emery’s Greenvale Capital due to its $117 million investment.

3. First Solar, Inc. (NASDAQ:FSLR)

Number of Billionaire Investors In Q3 2023: 11

First Solar, Inc. (NASDAQ:FSLR) is an industrial grade solar module provider which caters to the needs of utilities and other large organizations. It has beaten analyst EPS estimates in three out of its four latest quarters and the stock is rated Buy on average.

Insider Monkey scoured through 910 hedge funds for their September quarter of 2023 shareholdings to find 49 First Solar, Inc. (NASDAQ:FSLR) shareholders. Robert Pohly’s Samlyn Capital was the biggest investor through its $293 million stake.

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

Number of Billionaire Investors In Q3 2023: 15

NextEra Energy, Inc. (NYSE:NEE) is one of the biggest solar power generation companies in the U.S., capable of generating more than three thousand megawatts of solar electricity. The firm has beaten analyst EPS estimates in all four of its latest quarters, and it aims to add 30 million solar panels to its portfolio by 2030.

By the end of this year’s third quarter, 58 out of the 910 hedge funds surveyed by Insider Monkey had bought the firm’s shares. NextEra Energy, Inc. (NYSE:NEE)’s largest hedge fund shareholder is Ken Fisher’s Fisher Asset Management as it owns 9.7 million shares that are worth $560 million.

1. Tesla, Inc. (NASDAQ:TSLA)

Number of Billionaire Investors In Q3 2023: 18

Tesla, Inc. (NASDAQ:TSLA), while mostly known for its cars, is also one of America’s biggest solar companies. Not only does it sell its own solar panels, but also a solar home energy storage system called the Tesla Powerwall. These days, the firm is embroiled in fresh controversy as a whistleblower claims that private employee data of its global employee base was readily available to workers in China.

During Q3 2023, 81 out of the 910 hedge funds profiled by Insider Monkey had held a stake in Tesla, Inc. (NASDAQ:TSLA). Catherine D. Wood’s ARK Investment Management was the firm’s biggest investor through its $1 billion investment.

Disclosure: None. You can also take a look at 12 Healthcare Stocks Billionaires Like the Most and Little Known $4 Billion Hedge Fund’s Leveraged Bets on US Stocks.

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