5 Best Renewable Energy Stocks to Buy According to Billionaires

3. Duke Energy Corporation (NYSE:DUK)

Number of Billionaire Holders: 18

Duke Energy Corporation (NYSE:DUK) engages in the distribution of natural gas and energy-related services. The company owns and operates a diverse mix of regulated power plants – including hydro, nuclear, solar, battery storage, etc.

On June 2, BTIG trimmed its price target on Duke Energy Corporation (NYSE:DUK) from $141 to $139, but maintained a ‘Buy’ rating on the shares. The lowered target still indicates an upside of almost 15% from the current levels.

BTIG believes that Duke Energy Corporation (NYSE:DUK)’s relatively new management has improved the company’s financial execution. The analyst firm also expressed optimism regarding the utility’s scale, geographical diversity, and prudent approach to managing the soaring load growth.

Duke Energy Corporation (NYSE:DUK) has also emerged as a key energy supplier in the ongoing AI boom. The utility signed 2.7 GW of electric service agreements with data center customers during the first quarter, bringing its total executed agreements to around 7.6 GW. Moreover, the company announced that it was in advanced discussions on ​a further 15.4 GW of data centers.

With a robust annual dividend yield of 3.52%, Duke Energy Corporation (NYSE:DUK) was also recently included in our list of the 12 Best Dividend Stocks to Invest In According to Hedge Funds.