5 Best Fast Money Stocks To Buy According To Hedge Funds

4. NextEra Energy, Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 59  

NextEra Energy, Inc. (NYSE:NEE) transmits, distributes, and sells electric power to retail and wholesale customers in North America. It is one of the top fast money stocks to invest in. On September 16, BMO Capital analyst James Thalacker maintained an Outperform rating on NextEra Energy, Inc. (NYSE:NEE) stock and raised the price target to $100 from $92, noting that the company’s industry-leading profile within the sector warrants a premium valuation given its fundamental and thematic drivers. 

At the end of the second quarter of 2022, 59 hedge funds in the database of Insider Monkey held stakes worth $2.76 billion in NextEra Energy, Inc. (NYSE:NEE), compared to 64 in the preceding quarter worth $2.85 billion. 

In its Q2 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and NextEra Energy, Inc. (NYSE:NEE) was one of them. Here is what the fund said:

“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.”