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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
Dividends Score
Market Cap
Dividend Yield
Payout Ratio
Last Dividend
Annual Dividend
Dividend Percentile
Dividend Dropped Count (L10Y)
Ex-dividend Date
Div. Payment Date
ENLT
ENLIGHT RENEWABLE ENERGY LTD
$2.04BN/A0.00%N/AN/AN/AN/A
NEP
NEXTERA ENERGY PARTNERS LP
$2.71B11.88%158.00%$0.8800$3.4495%0
EE
EXCELERATE ENERGY INC
$1.71B0.16%6.50%$0.0250$0.032%0
RNW
RENEW ENERGY GLOBAL PLC
$2.18BN/A0.00%N/AN/AN/AN/A
ELLO
ELLOMAY CAPITAL LTD
$199.73MN/A0.00%$0.2250N/AN/A0
ORA
ORMAT TECHNOLOGIES INC
$4.00B0.72%23.00%$0.1200$0.4813%5
AQN
ALGONQUIN POWER & UTILITIES CORP
$4.31B8.68%1,446.70%$0.1085$0.5491%12024-04-15
FLNC
FLUENCE ENERGY INC
$2.97BN/A0.00%N/AN/AN/AN/A
ADN
ADVENT TECHNOLOGIES HOLDINGS INC
$11.57MN/A0.00%N/AN/AN/AN/A
NRGV
ENERGY VAULT HOLDINGS INC
$254.45MN/A0.00%N/AN/AN/AN/A
AMPS
ALTUS POWER INC
$758.82MN/A0.00%N/AN/AN/AN/A
CWEN
CLEARWAY ENERGY INC
$4.52B7.01%230.10%$0.4033$1.5788%1
AY
ATLANTICA SUSTAINABLE INFRASTRUCTURE PLC
$2.64B9.79%601.40%$0.4450$1.7893%3
BEP
BROOKFIELD RENEWABLE PARTNERS LP
$6.65B5.91%-427.50%$0.3550$1.3784%22024-03-28
CREG
SMART POWERR CORP
$9.00MN/A0.00%N/AN/AN/AN/A
CEG
CONSTELLATION ENERGY CORP
$58.55B0.15%11.20%$0.2820$0.282%0
VGAS
VERDE CLEAN FUELS INC
$125.96MN/AN/AN/AN/AN/AN/A
WAVE
ECO WAVE POWER GLOBAL AB (PUBL)
$5.77MN/A0.00%N/AN/AN/AN/A
BNRG
BRENMILLER ENERGY LTD
$5.06MN/A0.00%N/AN/AN/AN/A
BEPC
BROOKFIELD RENEWABLE CORP
$9.14B1.38%N/A$0.3380$0.3428%0
HTOO
FUSION FUEL GREEN PLC
$24.71MN/A0.00%N/AN/AN/AN/A

Renewable Energy Stocks FAQ

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

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

1. Enlight Renewable Energy (NASDAQ:ENLT)


Enlight Renewable Energy (NASDAQ:ENLT) is the top renewable energy stock with a Zen Score of 51, which is 22 points higher than the renewable energy industry average of 29. It passed 17 out of 33 due diligence checks and has strong fundamentals. Enlight Renewable Energy has seen its stock return 2.18% over the past year.

Enlight Renewable Energy has an average 1 year price target of $19.00, an upside of 9.76% from Enlight Renewable Energy's current stock price of $17.31.

Enlight Renewable Energy stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Enlight Renewable Energy, 66.67% have issued a Strong Buy rating, 0% have issued a Buy, 33.33% 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 48, which is 19 points higher than the renewable energy industry average of 29. It passed 17 out of 38 due diligence checks and has strong fundamentals. Nextera Energy Partners has seen its stock lose -52.58% over the past year, underperforming other renewable energy stocks by -55 percentage points.

Nextera Energy Partners has an average 1 year price target of $33.96, an upside of 17.09% from Nextera Energy Partners's current stock price of $29.00.

Nextera Energy Partners stock has a consensus Buy recommendation according to Wall Street analysts. Of the 11 analysts covering Nextera Energy Partners, 18.18% have issued a Strong Buy rating, 18.18% have issued a Buy, 54.55% have issued a hold, while 9.09% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Excelerate Energy (NYSE:EE)


Excelerate Energy (NYSE:EE) is the third best renewable energy stock with a Zen Score of 42, which is 13 points higher than the renewable energy industry average of 29. It passed 17 out of 38 due diligence checks and has strong fundamentals. Excelerate Energy has seen its stock lose -20.09% over the past year, underperforming other renewable energy stocks by -23 percentage points.

Excelerate Energy has an average 1 year price target of $21.60, an upside of 37.14% from Excelerate Energy's current stock price of $15.75.

Excelerate Energy stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Excelerate Energy, 0% have issued a Strong Buy rating, 60% have issued a Buy, 40% 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 6 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 11.88%, which is 7 percentage points higher than the renewable energy industry average of 5.08%. 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 158% 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 9.79%, which is 5 percentage points higher than the renewable energy industry average of 5.08%. 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 601.4% 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 8.68%, which is 4 percentage points higher than the renewable energy industry average of 5.08%. 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 1,446.7% indicates that its high dividend yield might not be sustainable for the long-term.

Why are renewable energy stocks up?

Renewable energy stocks were up 1.25% in the last day, and up 3.4% over the last week.

We couldn't find a catalyst for why renewable energy stocks are up.

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 71, which is 44 points higher than the renewable energy industry average of 27. It passed 5 out of 7 valuation due diligence checks.

Nextera Energy Partners's stock has dropped -52.58% in the past year. It has underperformed other stocks in the renewable energy industry by -55 percentage points.

2. Enlight Renewable Energy (NASDAQ:ENLT)


Enlight Renewable Energy (NASDAQ:ENLT) is the second most undervalued renewable energy stock based on WallStreetZen's Valuation Score. Enlight Renewable Energy has a valuation score of 71, which is 44 points higher than the renewable energy industry average of 27. It passed 5 out of 7 valuation due diligence checks.

Enlight Renewable Energy's stock has gained 2.18% in the past year. It has performed in line with other stocks in the renewable energy industry.

3. Ellomay Capital (NYSEMKT:ELLO)


Ellomay Capital (NYSEMKT:ELLO) is the third most undervalued renewable energy stock based on WallStreetZen's Valuation Score. Ellomay Capital has a valuation score of 71, which is 44 points higher than the renewable energy industry average of 27. It passed 5 out of 7 valuation due diligence checks.

Ellomay Capital's stock has gained 38.75% in the past year. It has overperformed other stocks in the renewable energy industry by 36 percentage points.

Are renewable energy stocks a good buy now?

42.86% of renewable energy stocks rated by analysts are a buy right now. On average, analysts expect renewable energy stocks to rise by 13.39% 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 30.19x.
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