5 Best Wind Power and Solar Stocks To Buy

3. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 50

Enphase Energy, Inc. (NASDAQ:ENPH) is another industry-leading designer, developer, and seller of home energy solutions for the solar photovoltaic industry in the United States and internationally. By the end of the fourth quarter of 2021, Enphase Energy Inc. (NASDAQ:ENPH) was spotted on 50 hedge fund portfolios. The stakes of these hedge funds totaled $763.28 million, up from $637.78 million in the prior quarter with 52 positions.

In addition to being a top stock pick among investor circles, Enphase Energy, Inc. (NASDAQ:ENPH) is being closely watched by expert analysts as well. On May 2, 2022, leading American bank holding company Truist assumed coverage of Enphase Energy, Inc. (NASDAQ:ENPH) with a Buy rating and a $205 price target.

This April, Enphase Energy, Inc. (NASDAQ:ENPH) reported market-beating earnings for the fiscal first quarter of 2022. The company reported earnings per share of $0.79, beating estimates by $0.10. The company’s revenues grew 46.24% year over year and came in at $441.29 million, outperforming market consensus by $7.64 million. Enphase Energy, Inc. (NASDAQ:ENPH) is surging and as of May 13, the stock’s trailing twelve-month returns are up 22.97%, which makes it a high-momentum wind power and solar stock to buy.

As of the end of this March, Quaero Capital is the top shareholder in Enphase Energy, Inc. (NASDAQ:ENPH). The fund upped its Q4 2021 stakes by 6%, bringing its Q1 2022 stakes to $10.52 million, which covers 6.61% of Quaero Capital’s 13F portfolio.

ClearBridge Investments mentioned Enphase Energy, Inc. (NASDAQ:ENPH) in its “Sustainability Leaders Strategy” first-quarter 2022 investor letter. Here is what the investment management firm had to say:

“Enphase Energy (NASDAQ:ENPH) is a key solar holding that should be able to take advantage of greater incentives for solar installations in many geographies. The company was also a strong contributor for the quarter, overcoming pressures of a higher discount rate on their strong projected future earnings, raw material inflation and supply chain challenges as their long-term value was reaffirmed.”