5 Best Clean Energy Stocks to Invest In

2. NextEra Energy Inc. (NYSE:NEE)

Number of Hedge Fund Holdings: 59

Based in Juno Beach, Florida, NextEra Energy (NYSE:NEE) is an American energy company with over 58GWs of generating capacity. As of Q2 2022, NextEra Energy Resources is the world’s largest generator of renewable energy, with approximately 65% of NextEra Energy’s (NYSE:NEE) generating capacity coming from renewables like wind, solar, and hydroelectric power.

On September 14, Credit Suisse analyst Nicholas Campanella raised the price target on NextEra Energy (NYSE:NEE) to $98 from $79, keeping an Outperform rating on the shares.

Here is what ClearBridge Investments had to say about NextEra Energy (NYSE:NEE) in their Q2 2022 investor letter:

“We increased our exposure to the energy transition during the quarter with new positions in Iberdrola (OTCPK:IBDSF), a Spanish-based integrated utility that is also one of the leading renewable energy developers in the world, and NextEra Energy, Inc. (NYSE:NEE), an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. The war has opened the eyes of the world that energy independence is critical. Renewables are for many countries the only way to get to the target. It is expected that existing renewable project pipelines will be executed faster, and more projects added to existing pipelines.

The energy transition would be extremely helpful for climate change and Iberdrola ranks well on our ESG matrix. NextEra, meanwhile, recently raised future earnings forecasts, citing a very favorable macro environment for rapid renewable generation expansion driven by decarbonization of the U.S. economy and the relative attractiveness of renewable generation in the context of high natural gas and power prices.”