5 Best Energy Stocks for Inflation

In this article, we discuss 5 best energy stocks for inflation. If you want to see more stocks in this selection, click 10 Best Energy Stocks for Inflation.  

5. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 57

Enphase Energy, Inc. (NASDAQ:ENPH) was incorporated in 2006 and is headquartered in Fremont, California. The company specializes in home energy solutions for the solar photovoltaic industry in the United States and internationally. On July 14, after the Biden administration announced it would allocate $56 million to programs for elevating U.S. manufacturing of solar energy products, Enphase Energy, Inc. (NASDAQ:ENPH) stock gained 2.2%. 

On July 20, JPMorgan analyst Mark Strouse raised the price target on Enphase Energy, Inc. (NASDAQ:ENPH) to $247 from $240 and reiterated an Overweight rating on the shares. The analyst is “generally positive” on the alternative energy sector in the second half of 2022, noting secular trends will thrive regardless of the economic cycle. Soaring fossil fuel prices and increasing efforts for energy security are building higher demand for renewables, despite supply chain constraints and elevated input costs, the analyst told investors in a research note.

According to Insider Monkey’s data, Enphase Energy, Inc. (NASDAQ:ENPH) was part of 57 hedge fund portfolios at the end of Q1 2022, up from 50 funds in the prior quarter. Bruce Emery’s Greenvale Capital is a prominent shareholder of the company, with 500,000 shares worth about $101 million. 

Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q1 2022 investor letter:

“Enphase Energy (NASDAQ:ENPH) is a key solar holding that should be able to take advantage of greater incentives for solar installations in many geographies. The company was also a strong contributor for the quarter, overcoming pressures of a higher discount rate on their strong projected future earnings, raw material inflation and supply chain challenges as their long-term value was reaffirmed.”