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Best Renewable Energy Stocks to Buy Now (2023)
Top renewable energy stocks in 2023 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
Country
Market Cap
Shares
Institutional %
Insider %
Net Insider (L12M)
Net Insider (L3M)
ENLT
ENLIGHT RENEWABLE ENERGY LTD
Israel
$2.15B117,638,00830.69%0.00%
FLNC
FLUENCE ENERGY INC
United States
$3.90B177,894,40050.28%49.72%Net SellingNet Selling
AMPS
ALTUS POWER INC
United States
$843.13M159,986,14136.74%63.26%Net BuyingNet Selling
NEP
NEXTERA ENERGY PARTNERS LP
United States
$2.43B93,432,53776.25%0.53%Net Selling
NRGV
ENERGY VAULT HOLDINGS INC
United States
$343.07M143,545,72137.64%62.36%Net SellingNet Selling
ADN
ADVENT TECHNOLOGIES HOLDINGS INC
United States
$19.88M62,531,23211.30%38.90%Net Selling
EE
EXCELERATE ENERGY INC
United States
$1.77B108,282,55521.88%76.32%Net SellingNet Selling
AY
ATLANTICA SUSTAINABLE INFRASTRUCTURE PLC
United Kingdom
$2.90B116,149,00039.09%0.00%
RNW
RENEW ENERGY GLOBAL PLC
United Kingdom
$2.53B366,410,43735.00%0.00%
ORA
ORMAT TECHNOLOGIES INC
United States
$4.27B60,354,08245.87%54.13%Net SellingNet Selling
CREG
SMART POWERR CORP
China
$9.24M7,963,4440.07%99.93%
BEP
BROOKFIELD RENEWABLE PARTNERS LP
Bermuda
$6.95B275,358,75064.60%0.00%
CEG
CONSTELLATION ENERGY CORP
United States
$35.52B319,381,68482.43%0.06%Net SellingNet Buying
ELLO
ELLOMAY CAPITAL LTD
Israel
$178.39M12,852,58511.07%0.00%
BEPC
BROOKFIELD RENEWABLE CORP
United States
$9.80B361,818,09833.50%0.00%
VGAS
VERDE CLEAN FUELS INC
United States
$82.27M31,887,8363.83%96.17%Net Buying
CWEN
CLEARWAY ENERGY INC
United States
$5.03B202,079,80046.16%0.65%Net Selling
WAVE
ECO WAVE POWER GLOBAL AB (PUBL)
Sweden
$7.49M44,394,8440.12%0.00%
AQN
ALGONQUIN POWER & UTILITIES CORP
Canada
$4.18B688,759,09851.95%0.00%
HTOO
FUSION FUEL GREEN PLC
Ireland
$14.77M13,805,64820.98%0.00%
ELIQ
ELECTRIQ POWER HOLDINGS INC
United States
$15.03M41,754,3459.55%27.67%Net Buying
BNRG
BRENMILLER ENERGY LTD
Israel
$12.67M2,151,03045.86%0.00%

Renewable Energy Stocks FAQ

What are the best renewable energy stocks to buy right now in Dec 2023?

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 44, which is 18 points higher than the renewable energy industry average of 26. It passed 15 out of 33 due diligence checks and has strong fundamentals.

Enlight Renewable Energy has an average 1 year price target of $18.33, an upside of 0.51% from Enlight Renewable Energy's current stock price of $18.24.

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. Altus Power (NYSE:AMPS)


Altus Power (NYSE:AMPS) is the second best renewable energy stock with a Zen Score of 43, which is 17 points higher than the renewable energy industry average of 26. It passed 14 out of 33 due diligence checks and has strong fundamentals. Altus Power has seen its stock lose -17.4% over the past year, overperforming other renewable energy stocks by 5 percentage points.

Altus Power has an average 1 year price target of $9.08, an upside of 72.35% from Altus Power's current stock price of $5.27.

Altus Power stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Altus Power, 83.33% have issued a Strong Buy rating, 16.67% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Fluence Energy (NASDAQ:FLNC)


Fluence Energy (NASDAQ:FLNC) is the third best renewable energy stock with a Zen Score of 43, which is 17 points higher than the renewable energy industry average of 26. It passed 14 out of 33 due diligence checks and has strong fundamentals. Fluence Energy has seen its stock return 43.33% over the past year, overperforming other renewable energy stocks by 66 percentage points.

Fluence Energy has an average 1 year price target of $31.69, an upside of 44.51% from Fluence Energy's current stock price of $21.93.

Fluence Energy stock has a consensus Buy recommendation according to Wall Street analysts. Of the 13 analysts covering Fluence Energy, 46.15% have issued a Strong Buy rating, 15.38% have issued a Buy, 38.46% 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 9 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 12.99%, which is 8 percentage points higher than the renewable energy industry average of 4.9%. 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 259.8% 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 8.91%, which is 4 percentage points higher than the renewable energy industry average of 4.9%. 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 517.4% 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 8.34%, which is 3 percentage points higher than the renewable energy industry average of 4.9%. 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 -140.6% 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 0.31% in the last day, and down -3.04% 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 57, which is 36 points higher than the renewable energy industry average of 21. It passed 4 out of 7 valuation due diligence checks.

Nextera Energy Partners's stock has dropped -65.72% in the past year. It has underperformed other stocks in the renewable energy industry by -43 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 43, which is 22 points higher than the renewable energy industry average of 21. It passed 3 out of 7 valuation due diligence checks.

3. Altus Power (NYSE:AMPS)


Altus Power (NYSE:AMPS) is the third most undervalued renewable energy stock based on WallStreetZen's Valuation Score. Altus Power has a valuation score of 43, which is 22 points higher than the renewable energy industry average of 21. It passed 3 out of 7 valuation due diligence checks.

Altus Power's stock has dropped -17.4% in the past year. It has overperformed other stocks in the renewable energy industry by 5 percentage points.

Are renewable energy stocks a good buy now?

50% of renewable energy stocks rated by analysts are a buy right now. On average, analysts expect renewable energy stocks to rise by 24.77% 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 15.12x.
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Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.