5 Best Hydrogen and Fuel Cell Stocks To Buy

In this article, we discuss the top 5 best hydrogen and fuel cell stocks to buy. If you want to see our detailed analysis of the hydrogen and fuel cell market, check out 11 Best Hydrogen and Fuel Cell Stocks To Buy. 

5. Air Products and Chemicals, Inc. (NYSE:APD)

Number of Hedge Fund Holders: 48

Air Products and Chemicals, Inc. (NYSE:APD) is a provider of atmospheric gasses, process and specialty gasses, including hydrogen and liquid hydrogen. On May 18, Air Products and Chemicals, Inc. (NYSE:APD) declared a $1.75 per share quarterly dividend, in line with previous. The dividend is payable on August 14, to shareholders of record on July 3. It is one of the premier hydrogen stocks to invest in. 

On May 30, TD Cowen analyst Marc Bianchi increased the price target for Air Products and Chemicals, Inc. (NYSE:APD to $385 from $375, while maintaining an Outperform rating on the shares. The analyst cited the second quarter earnings report and guidance, as well as the recent acquisition of Uzbekneftegaz’s Industrial Gas facility for the target raise.

According to Insider Monkey’s first quarter database, 48 hedge funds were bullish on Air Products and Chemicals, Inc. (NYSE:APD), compared to 41 funds in the prior quarter. Phill Gross and Robert Atchinson’s Adage Capital Management is the biggest stakeholder of the company, with 222,340 shares worth $63.8 million. 

ClearBridge Large Cap Value Strategy made the following comment about Air Products and Chemicals, Inc. (NYSE:APD) in its Q4 2022 investor letter:

“In the materials sector, Air Products and Chemicals, Inc. (NYSE:APD)’s ability to recover higher energy costs, particularly in Europe as it continues to execute on its growth projects, has helped it to generate a positive return for the year and made it a strong contributor. The capital APD is deploying into hydrogen products globally is finally getting noticed as Europe is looking to diversify away from Russian natural gas and the Inflation Reduction Act (IRA) benefits domestic investments in renewables, such as APD’s $4.5 billion blue hydrogen project in Louisiana and its $4 billion green hydrogen production facility in Texas. APD is also teaming up with World Energy to build a $2.5 billion sustainable aviation fuel production facility in Southern California, a project that should also benefit from the IRA.”