10 Most Undervalued Renewable Energy Stocks To Buy Right Now

7. National Grid plc (NYSE:NGG)

PE Ratio as of April 30: 26.85

Number of Hedge Fund Holders: 17

National Grid plc (NYSE:NGG) is a London-based company involved in transmitting and distributing electricity and gas. National Grid Renewables, launched in October 2020, is the US branch of NGG dedicated to speeding up the clean energy transition. It develops, owns, and operates large-scale solar, wind, and battery storage projects across the country. National Grid plc (NYSE:NGG) is one of the most undervalued stocks to invest in.

On April 29, UBS analysts downgraded National Grid plc (NYSE:NGG) from Buy to Neutral, and trimmed the price target to £11.50 from £11.60. UBS downgraded National Grid, noting the stock does not have much room to grow since it is already trading close to its 52-week high. Analysts commented that the benefits of recent regulatory updates and a rise in US returns are likely already reflected in the share price.

National Grid has proposed Sea Link, a 138 km electricity connection linking Kent to Suffolk, as part of its Great Grid Upgrade. The project includes mostly offshore cables and aims to deliver more renewable energy to meet growing demand. It is in the pre-examination phase as of April 24, 2025, and the company welcomes public input before the Secretary of State makes a final decision. Sea Link is expected to strengthen energy security and support a cleaner power network.

According to Insider Monkey’s fourth quarter database, 17 hedge funds were bullish on National Grid plc (NYSE:NGG), compared to 19 funds in the prior quarter. Jim Simons’ Renaissance Technologies was the largest stakeholder of the company, with 3.1 million shares worth $185.2 million.