Which Energy Stocks To Buy Now – When considering which stocks to buy today, investors may want to consider renewable energy stocks today. For the most part, this part of the stock market remains popular. After all, despite the world’s best efforts, the global effects of climate change are getting worse and worse in recent years. At the very least, climate change is reported to make events like deadly floods in Germany up to 9 times more likely, according to the World Weather Attribution Initiative. Meanwhile, carbon emissions from the global electricity sector now exceed pre-pandemic levels according to London-based environmental think tank Ember.
What does all this mean for renewable energies? Well, simply put, all these factors provide demand for industrial services. This will happen as countries around the world strive to join the global green movement. If anything, the industry seems to be getting harder to work with anywhere. Today, electric vehicle (EV) truck company Lordstown Motors (NASDAQ: RIDE ) named Daniel Ninivaggi as its new CEO. With Ninivaggi’s background in the automotive and transportation industry, some would argue that Lordstown could be looking to jumpstart its EV truck plans.
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In addition, companies in the solar energy space like Daqo New Energy (NYSE: DQ ) are also making progress. Just last week, Daqo reported solid numbers in its fiscal second quarter. This includes a massive year-over-year jump of 72% in total revenue and 178% in net income. After reading all of this, you may want to invest in the top renewable energy stocks in the stock market today. In that case, here are four worth paying attention to now.
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Plug Power is a renewable energy company headquartered in New York. The company basically develops a hydrogen cell system that replaces conventional batteries in devices and vehicles using electricity. It has also revolutionized the materials handling industry with its full-service GenKey solutions designed to increase productivity, reduce operating costs and reduce carbon footprints. PLUG stock has gained more than 95% in the past year alone.
On August 10, 2021, the company announced that it had broken ground on a new green hydrogen production facility in Camden County, Georgia, where 15 tons of liquid green hydrogen will be produced per day. Plug Power has invested $84 million in the facility as it reaffirms its commitment to building North America’s first green hydrogen supply network.
Impressively, the company also acquired the largest liquid hydrogen in the world. This plays into the prediction that green hydrogen will play an important role in meeting the goal of greenhouse gas emissions worldwide and benefiting plug power in the long term. Therefore, would you consider buying PLUG shares?
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Brookfield Renewable Partners (BEP) is a company that operates renewable energy assets. With a presence in more than 30 countries, it has one of the largest renewable energy assets. In detail, it has about 21,000 megawatts of generating capacity. Its assets are located around the world and consist of a diverse base of hydro, wind, utility-scale solar, and renewable technologies.
Earlier in the month, the company announced strong second quarter results. This strong quarter is the result of progress on several strategic initiatives, which include 25-year contracts to support nearly 1.5 gigawatts of offshore wind. BEP has also initiated one of the largest onshore wind repowering projects in the world and has entered into a strategic partnership with the world’s largest renewable energy company.
The company also generated funds from operations (FFO) of $268 million, an increase of 23% on a normalized per unit basis year over year. It also signed 28 agreements for about 800 GWh of renewable generation with corporate off-takers in all major industries. All things considered, should you buy BEP stock now?
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Enphase is a renewable energy company headquartered in California. It is the world’s largest supplier of micro-inverter-based solar plus storage systems. Also, it offers an intelligent, easy-to-use solution that combines solar generation, storage and energy management in one intelligent platform.
Furthermore, the company’s semiconductor-based microinverter system converts energy at the individual solar module level, improving efficiency. ENPH shares have risen more than 130% in the past year.
Today, the company announced that it has renewed its partnership with GRID Alternatif, a national nonprofit that provides access to clean, affordable renewable energy. At the end of July, the company also reported its second quarter financials. Among the highlights include revenue of $316.1 million for the quarter and shipping more than 2.3 million microinverters or 796 megawatt DC and 43 megawatt enphase storage systems. Are the impressive quarter, ENPH stock buy for you?
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Last but not least we have Tesla, an electric vehicle and clean energy company. Essentially designs and manufactures electric cars and energy storage. In 2020, the company’s sales of battery electric vehicles and plug-in electric vehicles captured 16% of the plug-in market and 23% of the battery-electric market. The company Tesla Energy is the leading installer of photovoltaic systems in the United States.
Even if all is well, Tesla doesn’t seem to be slowing down on the operational front anytime soon. Earlier today, there was news that the company had started deliveries of its Model Ys in Europe ahead of schedule. To achieve this, Tesla is now shipping some Model Ys from its Shanghai facility. This will be a strategic play by the company to keep up with the rising demand in the region. Not to mention, Tesla continues to refine the technology behind its EV offerings. In particular, the company announced its supercomputer brain, Dojo.
According to CEO Elon Musk, neural network training computers process image data four times faster than normal computing systems. Ideally, this will provide a significant boost to existing autonomous driving technology. Could all this make TSLA your best bet right now? The system can double your portfolio by predicting where stocks will be in 21 trading days, with 82% accuracy.
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Energy stocks have been easy to invest in over the past two years. At the start of the pandemic in 2020, energy stocks are cratering due to a historic drop in demand. However, the US economy began to open in early 2021 and demand increased.
As that demand grew, the Biden administration took action to slow domestic supply. This creates a perfect storm for traditional oil and gas stocks on the one hand and renewable energy on the other. The storm is likely to continue in the 2022 market.
Demand should remain high despite the uncertainty surrounding the virus. With inflation likely to remain high for the first half of the year, many investors will look to energy stocks for reliable dividends.
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That doesn’t mean you can just close your eyes and throw arrows at the energy sector, but it does mean there are opportunities to buy some of the best stocks in traditional and alternative energy companies.
As 2021 begins, MPC shares are down nearly 30%. However, investors have started to see signs of recovery. That’s because it was around that time that the first Covid-19 vaccine was delivered.
If you buy shares at that time, you will be rewarded with a profit of almost 56%. Should investors expect the same in 2022? That seems unlikely. But oil prices are likely to remain high and analysts are giving the stock a 13% gain over the next 12 months.
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Marathon pays a regular dividend of 3.68% with a three-year average growth rate of over 26%. The company has increased its dividend in each of the past nine years.
If you believe that the “both/and” approach is needed as a bridge to a clean energy future, then Chevron should definitely be in your consideration set.
CVX shares have risen 40% in the past 12 months, but it has analysts worried that it may have reached its peak. However, opportunistic investors can see each dip as an opportunity to buy shares of this best oil and gas stock.
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Chevron CEO Mike Wirth gave an interview with Barron’s Streetwise this summer in which he predicted that oil and gas prices will remain high for the foreseeable future.
Chevron is also making strategic investments in renewable energy, particularly renewable natural gas, renewable diesel and sustainable aviation fuel.
Although the company has no plans for the wind or solar market, it is investing in hydrogen and carbon capture as long-term opportunities.
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There is no reason to believe that clean energy will become less important. That alone is reason enough to invest in NextEra Energy.
However, when it comes to investing in energy stocks, location is an issue. That’s another reason to buy NextEra Energy stock. The company is based in Florida and has over 11 million residential customers who help the company generate over $16 billion in annual revenue.
With the stock up almost 25% in the last 12 months, that may be fair for investors.