5 Best Hydrogen and Fuel Cell Stocks To Buy For 2024

In this article, we discuss 5 best hydrogen and fuel cell stocks to buy for 2024. If you want to read our discussion on the hydrogen and fuel cell market, head over to 10 Best Hydrogen and Fuel Cell Stocks To Buy For 2024. 

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

Number of Hedge Fund Holders: 43

Air Products and Chemicals, Inc. (NYSE:APD) is a global provider of atmospheric gases, process and specialty gases, and related services, catering to diverse industries, including refining, manufacturing, electronics, and healthcare. Air Products and Chemicals, Inc. (NYSE:APD) also designs and manufactures equipment for air separation, hydrocarbon recovery, natural gas liquefaction, and the transport and storage of liquid helium and hydrogen. It is one of the best hydrogen stocks to invest in. 

On November 15, Air Products and Chemicals, Inc. (NYSE:APD) declared a $1.75 per share quarterly dividend, in line with previous. The dividend is distributable on February 12, 2024 to shareholders of record on January 2. 

According to Insider Monkey’s third quarter database, Air Products and Chemicals, Inc. (NYSE:APD) was part of 43 hedge fund portfolios, same as the prior quarter. Ken Griffin’s Citadel Investment Group is the leading stakeholder of the company, with 988,701 shares worth $280 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.”