Goldman Sachs Solar and Green Energy Stocks: Top 5 Stock Picks

In this article, we will be taking a look at Goldman Sachs solar and green energy stocks: top 5 stock picks. To read our detailed analysis of the green energy market and Goldman Sachs’ second quarter holdings, you can go directly to see the Goldman Sachs Solar and Green Energy Stocks: Top 10 Stock Picks.

5. Eaton Corporation plc (NYSE:ETN)

Goldman Sachs’ Q2 Stake Value: $761.4 million

Number of Hedge Fund Holders: 51

John Eade at Argus Research maintains a Buy rating and a $250 price target on Eaton Corporation plc (NYSE:ETN) shares as of August 3.

Based in Dublin, Ireland, Eaton Corporation plc (NYSE:ETN) is a power management company. It is working with renewable electricity and solar and wind technologies to improve the quality of life for its customers while also contributing to saving the environment.

There were 51 hedge funds long Eaton Corporation plc (NYSE:ETN) in the second quarter, with a total stake value of $1.1 billion.

ClearBridge Investments said the following about Eaton Corporation plc (NYSE:ETN) in its fourth-quarter 2022 investor letter:

“Also within the secular category, our asset-light industrials names have flexed their strength through the bear market. Eaton Corporation plc (NYSE:ETN) is positioned in the sweet spot of several secular trends: two-way electricity solutions, microgrids and charging infrastructure for electric vehicles. While the company’s housing business is susceptible to near-term weakness, we believe Eaton can grow revenues in the mid-to-high single digits for several decades as its core utility customers have the rate base to cover ongoing electric infrastructure upgrades and buildouts.”

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

Goldman Sachs’ Q2 Stake Value: $943.3 million

Number of Hedge Fund Holders: 59

NextEra Energy, Inc. (NYSE:NEE) is based in Juno Beach, Florida. It sells electric power to retail and wholesale customers and generates this electricity through wind, solar, nuclear, coal, and natural gas facilities.

As of August 23, Morgan Stanley analysts have an Overweight rating and a $90 price target on NextEra Energy, Inc. (NYSE:NEE) shares.

A total of 59 hedge funds were long NextEra Energy, Inc. (NYSE:NEE) in the second quarter, with a total stake value of $918.3 million.

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

Goldman Sachs’ Q2 Stake Value: $1 billion

Number of Hedge Fund Holders: 50

KeyCorp analysts have an Overweight rating and a $200 price target on Enphase Energy, Inc. (NASDAQ:ENPH) shares as of August 17.

We saw 50 hedge funds long Enphase Energy, Inc. (NASDAQ:ENPH) in the second quarter. Their total stake value was $772.7 million.

Enphase Energy, Inc. (NASDAQ:ENPH) sells home energy solutions for the solar photovoltaic industry. It is based in Fremont, California.

2. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Goldman Sachs’ Q2 Stake Value: $1.7 billion

Number of Hedge Fund Holders: 43

SolarEdge Technologies, Inc. (NASDAQ:SEDG) sells direct current optimized inverter systems for solar photovoltaic installations worldwide. It is based in Herzliya, Israel.

In total, 43 hedge funds were long SolarEdge Technologies, Inc. (NASDAQ:SEDG) in the second quarter, with a total stake value of $1.3 billion

Truist analysts have a Buy rating and a $340 price target on SolarEdge Technologies, Inc. (NASDAQ:SEDG) shares as of August 3.

1. NRG Energy, Inc. (NYSE:NRG)

Goldman Sachs’ Q2 Stake Value: $3.3 billion

Number of Hedge Fund Holders: 39

Our hedge fund data shows 39 hedge funds long NRG Energy, Inc. (NYSE:NRG) in the second quarter, with a total stake value of $1.1 billion.

NRG Energy, Inc. (NYSE:NRG) is a provider of electricity and related products through natural gas, solar, nuclear, gas, and other facilities. It is based in Houston, Texas.

As of August 9, BMO Capital holds a Market Perform rating and a $46 price target on NRG Energy, Inc. (NYSE:NRG) shares.

See also Goldman Sachs Tech Stocks: Top 12 Stock Picks and 15 Biggest Green Tech Companies in the World.