4 Renewable Energy Stocks To Watch Before May
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Popular Renewable Energy Stocks Gaining Momentum Right Now
For investors searching for the most active stocks today, renewable energy stocks could be worth considering. If anything, the green investing movement continues to pick up momentum on the stock market today. This is likely because of the overall focus on the transition towards greener and more environmentally friendly energy sources globally. While climate change may be heating the globe, investors continue to turn their attention towards the best renewable energy stocks now. For example, we could look at renewable energy giants such as SunPower (NASDAQ: SPWR) and Enphase Energy (NASDAQ: ENPH). Both companies’ shares are currently up by over 320% in the past year. The question is, can the industry keep up this momentum?
For one thing, President Joe Biden’s recent announcement could continue to boost the rising renewable energy industry. As of yesterday, Biden is pledging to cut U.S. greenhouse gas emissions in half by the year 2030. Notably, the target is more than twice the country’s earlier commitment under the 2015 Paris climate agreement. This aggressive move is no doubt part of his administration’s plans for a net-zero emission U.S. by 2050. By extension, all this would result in more attention on the renewable energy industry now. While investors have their eyes peeled for the top renewable energy stocks to watch right now, you might be interested as well. If that is the case, here are four trending names in the stock market now.
Top Renewable Energy Stocks To Watch Now
- NextEra Energy Inc. (NYSE: NEE)
- FuelCell Energy Inc. (NASDAQ: FCEL)
- Beam Global (NASDAQ: BEEM)
- Bloom Energy Corporation (NYSE: BE)
NextEra Energy Inc.
NextEra is a leading clean energy company that owns the Florida Power & Light Company (FPL). FPL is the largest rate-regulated electric utility in the U.S and serves more than 5.6 million customer accounts. NextEra also owns a competitive clean energy business, NextEra Energy resources which together with its affiliated entities, is the world’s largest generator of renewable energy from wind and sun. Through its subsidiaries, NextEra generates clean, emissions-free electricity from seven commercial nuclear power units. NEE stock currently trades at $78.47 as of 1:24 p.m. ET.
On Wednesday, the company reported its first-quarter 2021 financial results. In it, the company continues to deliver strong financial and operational results. Firstly, the company reported a net income of $1.66 billion or earnings per share of $0.84. Secondly, FPL’s continued investments will help further advance its customer value proposition. This would result in residential bills well below the national average and best-ever service reliability in the energy market.
The company’s strong first-quarter results could make it well-positioned to meet its 2021 and longer-term growth prospects. Given all of this, will you consider buying NEE stock?
FuelCell Energy Inc.
FuelCell is a renewable energy company that designs, manufactures, operates, and services fuel cell power plants. The company also provides turnkey power generation solutions to its customers. This would include power plant installation, operations, and maintenance. Its main businesses include utility companies, government entities, and a range of industrial and commercial enterprises. FCEL currently trades at $9.81 as of 1:31 p.m. ET on Friday and is up by over 400% from a year ago.
Last month, it reported its first-quarter fiscal results. In detail, the company posted revenue of $14.9 million. Impressively, it has a backlog of $1.27 billion in projects as of January 31, 2021. It also entered into a power purchase agreement for a 2.8-megawatt project in Derby, Connecticut in February.
Furthermore, the company also commenced operation and testing of a prototype solid oxide electrolysis hydrogen platform during the quarter. Evidently, the company has been strengthening its balance sheet by raising capital, paying down debt, and executing its core business backlog. Given all of this, will you consider adding FCEL stock into your portfolio?
Beam is a solar energy company that designs and manufactures solar products and technology solutions focusing on various verticals. In detail, this would include electric vehicle (EV) charging infrastructure, energy security, and disaster preparedness. BEEM stock currently trades at $33.67 as of 1:30 p.m. ET and is up a modest 3.98% during Friday’s afternoon trading session. Earlier in April, the company expanded its sustainable EV charging program with a leading Georgia utility for public use.
Beam Global CEO Desmond Wheatley had this to say, “Utilities are adopting Beam’s innovative infrastructure solution, implementing off-grid EV charging powered by locally generated and locally stored energy. These systems are becoming part of an emerging energy resilience strategy for utilities.”
In January, the company reported record fourth-quarter deliveries for its EV ARC charging systems in 2020. The majority of the deliveries were to enterprise and government customers in California. As the adoption of EVs continues to pick up at full momentum, Beam could be well-positioned for growth as it continues to push out record deployments of its flagship EV ARC sustainable charging systems. The company also expects to see a significant increase in consumer demand for new EVs such as pickup trucks and SUVs that will be released this year. With such developments surrounding the EV industry, will you consider adding BEEM stock to your portfolio?
Bloom Energy Corporation
Last but not least, we have upcoming green energy player, Bloom Energy. In brief, Bloom Energy manufactures and markets solid oxide fuel cells that produce electricity on site. According to the company, it’s Bloom Energy Server delivers reliable, uninterrupted, round-the-clock power that is clean and sustainable.
Additionally, Bloom Energy’s key clients include 25 of the Fortune 100 companies. Given the nation’s current focus on lowering emissions, BE stock could be a go-to for investors now. Likewise, the company’s shares are currently sitting on gains of over 200% in the past year. This could be thanks to its update on the operational front.
Earlier today, Bloom Energy announced that it is appointing new international leadership. In turn, the company aims to accelerate global expansion efforts, enhance competitive positioning, and support the deployment of its tech globally. Specifically, Bloom Energy is now operating out of a new office in Dubai that will “serve as a strategic global anchor”. With current industry tailwinds and Bloom Energy kicking into high gear, could BE stock be a buy?