In this article, we will take a look at the 5 Best Renewable Energy Stocks to Buy According to Billionaires. For a deeper discussion and analysis, please refer to the 10 Best Renewable Energy Stocks to Buy According to Billionaires.
5. Shoals Technologies Group, Inc. (NASDAQ:SHLS)
Number of Billionaire Holders: 16
Shoals Technologies Group, Inc. (NASDAQ:SHLS) is a leading provider of electrical balance of systems (EBOS) solutions for solar, energy storage, and data centers.
On May 29, TD Cowen raised its price target on Shoals Technologies Group, Inc. (NASDAQ:SHLS) from $10 to $14, while maintaining a ‘Buy’ rating on the shares. The target boost reflects an upside potential of 13% from the current share price.
The move comes after the analyst firm recently met with the company’s management to discuss several key topics. These include the prospects of revenue growth, long-tail BLA mix, the partnership with ON.energy, the AirLink white-space opportunity, manufacturing consolidation efforts, and the competitive macro-environment.
Shoals Technologies Group, Inc. (NASDAQ:SHLS) exceeded expectations in its Q1 2026 report last month. The company grew its revenue by 75% YoY to over $140 million, driven by strong underlying demand of its products, the impact of market share capture initiatives, and an increase in volume of projects in the current year.
Shoals Technologies Group, Inc. (NASDAQ:SHLS) raised its full-year 2026 revenue guidance to between $600 million and $640 million, compared to $560 million to $600 million previously. Moreover, its adjusted EBITDA for the year is now expected in the range of $118 million to $132 million, up from its previous forecast of $110 million to $130 million.
4. Enphase Energy, Inc. (NASDAQ:ENPH)
Number of Billionaire Holders: 18
Enphase Energy, Inc. (NASDAQ:ENPH) is a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems.
On May 29, TD Cowen doubled its price target on Enphase Energy, Inc. (NASDAQ:ENPH) from $35 to $70, but maintained a ‘Hold’ rating on the shares. The revision, which reflects an upside of just over 1% from the current levels, comes after the analyst firm had a meeting with the company’s management. The key topic of discussion was the potential opportunity surrounding the solid-state transformer (SST) technology, which has garnered increased investor interest and optimism.
Purpose-built for AI data centers, Enphase’s IQ SST technology is designed to replace traditional centralized power conversion with a distributed “supercluster” architecture. The company expects the initial annual US addressable opportunity for the system in AI data centers to exceed 11 GW by 2031. Enphase projects the full system demonstrations of the platform later this year, with customer pilots expected in 2027 and volume shipments in 2028.
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.
2. Bloom Energy Corporation (NYSE:BE)
Number of Billionaire Holders: 21
Bloom Energy Corporation (NYSE:BE) designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally
On June 1, UBS reaffirmed its ‘Buy’ rating on Bloom Energy Corporation (NYSE:BE) and assigned the stock a price target of $322, indicating an upside of over 10% from the current levels.
The share price of Bloom Energy Corporation (NYSE:BE) has more than doubled over the last couple of months. The company received widespread investor attention in April when it struck an expanded deal with Oracle to supply as much as 2.8 gigawatts of fuel-cell power for the software company’s data centers.
Bloom Energy further received a boost when it crushed Wall Street estimates in its first quarter report, topping estimates in revenue, margins, and profits. The strong performance was driven by the rising demand for digital power as part of the ongoing artificial intelligence boom. .
Moreover, given the impressive start to the year, Bloom Energy Corporation (NYSE:BE) raised its guidance for FY 2026. The company is now forecasting adjusted earnings of between $1.85 to $2.25 per share, up from its previous range of $1.33 to $1.48. Moreover, it boosted its revenue target range for the year from $3.1 billion – $3.3 billion to $3.4 billion – $3.8 billion, reflecting a robust growth of 80% at the midpoint compared to last year.
1. NextEra Energy, Inc. (NYSE:NEE)
Number of Billionaire Holders: 24
Topping our list of the Best Clean Energy Stocks is NextEra Energy, Inc. (NYSE:NEE). With a market cap of over $176 billion as of the writing of this article, NextEra is the most valuable utility company in the world. The company boasts a diverse mix of energy sources, including natural gas, nuclear, renewable energy, and battery storage.
On May 26, Barclays slightly bumped up its price target on NextEra Energy, Inc. (NYSE:NEE) from $89 to $90, while maintaining an ‘Equal Weight’ rating on the shares. The raised target reflects an upside of over 6% from the current price level.
On the other hand, earlier on May 21, Morgan Stanley lowered its price target on NextEra Energy, Inc. (NYSE:NEE) from $115 to $111, but kept its ‘Overweight’ rating on the shares.
The mixed sentiment comes after Nextera announced plans to acquire Dominion Energy earlier on May 18. The $66.8 billion deal will create the largest regulated electric utility in the world, and comes at a time when the US power consumption is expected to soar to record levels amid the AI boom.
The transaction is expected to close in 12 to 18 months, with the combined entity emerging as the global leader in clean energy and battery storage.
While we acknowledge the potential of NEE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NEE and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 14 Best Oil and Gas Stocks to Buy According to Hedge Funds and 15 Best Nuclear Power Stocks to Buy According to Wall Street Analysts
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
