5 Best Energy Stocks to Buy Now

In this article, we will be looking at the 5 best energy stocks to buy now. To see our detailed analysis of the energy industry, you can go directly to the 15 Best Energy Stocks to Buy Now.

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

Number of Hedge Fund Holders: 49

Enphase Energy, Inc. (NASDAQ: ENPH) is a renewable energy company operating in the business of home energy solutions for the solar photovoltaic industry. The company ranks 5th on our list of the best energy stocks to buy now.

This July, Goldman Sachs raised its price target on Enphase Energy, Inc. (NASDAQ: ENPH) from $187 to $202, while keeping its Buy rating on the shares. The month before, Enphase Energy, Inc. (NASDAQ: ENPH) also launched its Encharge battery storage system in Germany, marking the company’s first step into an international market.

In the first quarter of 2021, the EPS of Enphase Energy, Inc. (NASDAQ: ENPH) came in at $0.56, beating estimates by $0.12, and its revenue came in at $301.75 million, representing an increase of 46.81% year over year and beating estimates by $9.32 million. Enphase Energy, Inc. (NASDAQ: ENPH) has a gross profit margin of 44.59% and has gained 222.08% in the past year.

By the end of the first quarter of 2021, 49 hedge funds out of the 866 tracked by Insider Monkey held stakes in Enphase Energy, Inc. (NASDAQ: ENPH). The total value of their stakes was roughly $803 million. This is compared to the previous quarter’s 48 hedge fund holders with a total stake value of approximately $988 million.