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Best Renewable Energy Stocks to Buy Now (2024)
Top renewable energy stocks in 2024 ranked by overall Zen Score. See the best renewable energy stocks to buy now, according to analyst forecasts for the utilities - renewable industry.

Industry: Utilities - Renewable
Ticker
Company
Forecast Score
Market Cap
Price
Price Target
Upside/Downside
Top Analysts Upside/Downside
Consensus
Top Analysts Consensus
Analysts
Top Analysts
Fore. Revenue Growth
Fore. Earnings Growth
Forecast ROE
Forecast ROA
NEP
NEXTERA ENERGY PARTNERS LP
$2.48B$26.47$32.4322.51%Hold715.07%-45.43%5.44%0.87%
FLNC
FLUENCE ENERGY INC
$2.96B$16.49$27.6467.59%Strong Buy1130.69%N/A56.02%15.13%
AY
ATLANTICA SUSTAINABLE INFRASTRUCTURE PLC
$3.20B$22.05$21.80-1.13%Buy53.20%39.28%8.31%1.31%
ENLT
ENLIGHT RENEWABLE ENERGY LTD
$1.91B$16.23$18.6715.05%Strong Buy328.76%17.19%16.59%4.25%
RNW
RENEW ENERGY GLOBAL PLC
$2.00B$5.46$9.0064.84%Strong Buy115.84%37.30%7.24%0.87%
ADN
ADVENT TECHNOLOGIES HOLDINGS INC
$9.25M$4.44N/AN/AN/AN/A2,013.75%N/A191.94%112.89%
ORA
ORMAT TECHNOLOGIES INC
$4.53B$75.05$81.808.99%Buy56.72%7.86%7.68%3.27%
AMPS
ALTUS POWER INC
$673.22M$4.19$6.7059.90%Strong Buy521.52%N/AN/AN/A
NRGV
ENERGY VAULT HOLDINGS INC
$169.69M$1.14$2.31102.89%Hold4-3.66%N/A-11.92%-8.85%
CEG
CONSTELLATION ENERGY CORP
$59.04B$187.28$231.1123.40%Buy92.17%14.34%40.71%8.85%
CREG
SMART POWERR CORP
$8.05M$0.96N/AN/AN/AN/AN/AN/AN/AN/A
AQN
ALGONQUIN POWER & UTILITIES CORP
$4.08B$5.91$7.3324.08%Buy34.59%N/A7.79%2.07%
VGAS
VERDE CLEAN FUELS INC
$137.93M$4.32N/AN/AN/AN/AN/AN/AN/AN/A
WAVE
ECO WAVE POWER GLOBAL AB (PUBL)
$13.48M$2.43N/AN/AN/AN/AN/AN/AN/AN/A
CWEN
CLEARWAY ENERGY INC
$5.09B$25.18$29.4016.76%Buy55.28%27.07%18.76%2.60%
ELLO
ELLOMAY CAPITAL LTD
$153.72M$11.96N/AN/AN/AN/AN/AN/AN/AN/A
BEPC
BROOKFIELD RENEWABLE CORP
$10.72B$28.65$33.0015.18%Hold129.96%N/A-7.11%-0.83%
BNRG
BRENMILLER ENERGY LTD
$1.87M$0.87N/AN/AN/AN/AN/AN/AN/AN/A
BEP
BROOKFIELD RENEWABLE PARTNERS LP
$7.00B$24.39$31.0027.10%Buy2-10.44%N/A5.10%0.25%
ALCE
ALTERNUS CLEAN ENERGY INC
$28.90M$0.36N/AN/AN/AN/AN/AN/AN/AN/A
SUUN
SOLARBANK CORP
$147.08M$5.42N/AN/AN/AN/AN/AN/AN/AN/A
GEV
GE VERNOVA INC
$44.26B$161.49$178.9610.82%Buy12N/AN/A26.21%4.91%
HTOO
FUSION FUEL GREEN PLC
$16.10M$0.93$3.50277.56%Buy1N/AN/AN/AN/A

Renewable Energy Stocks FAQ

What are the best renewable energy stocks to buy right now in Jul 2024?

According to Zen Score, the 3 best renewable stocks to buy right now are:

1. Fluence Energy (NASDAQ:FLNC)


Fluence Energy (NASDAQ:FLNC) is the top renewable energy stock with a Zen Score of 36, which is 14 points higher than the renewable energy industry average of 22. It passed 12 out of 33 due diligence checks and has average fundamentals. Fluence Energy has seen its stock lose -47.03% over the past year, underperforming other renewable energy stocks by -40 percentage points.

Fluence Energy has an average 1 year price target of $27.64, an upside of 67.59% from Fluence Energy's current stock price of $16.49.

Fluence Energy stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 11 analysts covering Fluence Energy, 54.55% have issued a Strong Buy rating, 27.27% have issued a Buy, 18.18% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Nextera Energy Partners (NYSE:NEP)


Nextera Energy Partners (NYSE:NEP) is the second best renewable energy stock with a Zen Score of 36, which is 14 points higher than the renewable energy industry average of 22. It passed 12 out of 38 due diligence checks and has average fundamentals. Nextera Energy Partners has seen its stock lose -55.23% over the past year, underperforming other renewable energy stocks by -48 percentage points.

Nextera Energy Partners has an average 1 year price target of $32.43, an upside of 22.51% from Nextera Energy Partners's current stock price of $26.47.

Nextera Energy Partners stock has a consensus Hold recommendation according to Wall Street analysts. Of the 7 analysts covering Nextera Energy Partners, 0% have issued a Strong Buy rating, 28.57% have issued a Buy, 42.86% have issued a hold, while 0% have issued a Sell rating, and 28.57% have issued a Strong Sell.

3. Atlantica Sustainable Infrastructure (NASDAQ:AY)


Atlantica Sustainable Infrastructure (NASDAQ:AY) is the third best renewable energy stock with a Zen Score of 35, which is 13 points higher than the renewable energy industry average of 22. It passed 12 out of 38 due diligence checks and has average fundamentals. Atlantica Sustainable Infrastructure has seen its stock lose -6.33% over the past year, overperforming other renewable energy stocks by 1 percentage points.

Atlantica Sustainable Infrastructure has an average 1 year price target of $21.80, a downside of -1.13% from Atlantica Sustainable Infrastructure's current stock price of $22.05.

Atlantica Sustainable Infrastructure stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Atlantica Sustainable Infrastructure, 20% have issued a Strong Buy rating, 20% have issued a Buy, 60% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the renewable energy stocks with highest dividends?

Out of 4 renewable energy stocks that have issued dividends in the past year, the 3 renewable energy stocks with the highest dividend yields are:

1. Nextera Energy Partners (NYSE:NEP)


Nextera Energy Partners (NYSE:NEP) has an annual dividend yield of 13.2%, which is 8 percentage points higher than the renewable energy industry average of 4.94%. Nextera Energy Partners's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Nextera Energy Partners's dividend has shown consistent growth over the last 10 years.

Nextera Energy Partners's dividend payout ratio of 112.2% indicates that its high dividend yield might not be sustainable for the long-term.

2. Atlantica Sustainable Infrastructure (NASDAQ:AY)


Atlantica Sustainable Infrastructure (NASDAQ:AY) has an annual dividend yield of 8.07%, which is 3 percentage points higher than the renewable energy industry average of 4.94%. Atlantica Sustainable Infrastructure's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Atlantica Sustainable Infrastructure's dividend has shown consistent growth over the last 10 years.

Atlantica Sustainable Infrastructure's dividend payout ratio of 542.7% indicates that its high dividend yield might not be sustainable for the long-term.

3. Algonquin Power & Utilities (NYSE:AQN)


Algonquin Power & Utilities (NYSE:AQN) has an annual dividend yield of 7.34%, which is 2 percentage points higher than the renewable energy industry average of 4.94%. Algonquin Power & Utilities's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Algonquin Power & Utilities's dividend has shown consistent growth over the last 10 years.

Algonquin Power & Utilities's dividend payout ratio of -88.6% indicates that its high dividend yield might not be sustainable for the long-term.

Why are renewable energy stocks down?

Renewable energy stocks were down -1.24% in the last day, and down -7.69% over the last week. Ge Vernova was the among the top losers in the utilities - renewable industry, dropping -2.62% yesterday.

GE Vernova shares are trading lower following turbine blade damage at the Vineyard Wind Offshore Wind Farm.

What are the most undervalued renewable energy stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued renewable energy stocks right now are:

1. Nextera Energy Partners (NYSE:NEP)


Nextera Energy Partners (NYSE:NEP) is the most undervalued renewable energy stock based on WallStreetZen's Valuation Score. Nextera Energy Partners has a valuation score of 43, which is 31 points higher than the renewable energy industry average of 12. It passed 3 out of 7 valuation due diligence checks.

Nextera Energy Partners's stock has dropped -55.23% in the past year. It has underperformed other stocks in the renewable energy industry by -48 percentage points.

2. Brookfield Renewable (NYSE:BEPC)


Brookfield Renewable (NYSE:BEPC) is the second most undervalued renewable energy stock based on WallStreetZen's Valuation Score. Brookfield Renewable has a valuation score of 14, which is 2 points higher than the renewable energy industry average of 12. It passed 1 out of 7 valuation due diligence checks.

Brookfield Renewable's stock has dropped -9.62% in the past year. It has underperformed other stocks in the renewable energy industry by -3 percentage points.

3. Advent Technologies Holdings (NASDAQ:ADN)


Advent Technologies Holdings (NASDAQ:ADN) is the third most undervalued renewable energy stock based on WallStreetZen's Valuation Score. Advent Technologies Holdings has a valuation score of 14, which is 2 points higher than the renewable energy industry average of 12. It passed 1 out of 7 valuation due diligence checks.

Advent Technologies Holdings's stock has dropped -84.21% in the past year. It has underperformed other stocks in the renewable energy industry by -77 percentage points.

Are renewable energy stocks a good buy now?

53.33% of renewable energy stocks rated by analysts are a buy right now. On average, analysts expect renewable energy stocks to rise by 18.93% over the next year.

What is the average p/e ratio of the utilities - renewable industry?

The average P/E ratio of the utilities - renewable industry is 10.68x.
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