5 High Growth Utility Stocks to Buy

2. Genie Energy Ltd (NYSE:GNE)

Latest YoY Quarterly Revenue Growth: 53.84%

Number of Hedge Fund Holders: 7

Based in Newark, New Jersey, Genie Energy Ltd (NYSE:GNE) is a retail energy and renewable energy solutions provider. Its retail energy division supplies electricity, and natural gas to residential and small business customers in the United States while its renewables division is a provider of commercial, community, and utility-scale solar energy solutions.

On November 6, Genie Energy Ltd (NYSE:GNE) released its financial results for Q3 2023. Its revenue surged by 54% y-o-y to $125 million, while net income declined by 21% y-o-y to $14.5 million.

Following the strong financial performance in the first nine months of the year, Genie Energy Ltd (NYSE:GNE) raised its 2023 Adjusted EBITDA guidance range of $47 to $55 million to $52 to $57 million.

Like other stocks such as Exelon Corporation (NYSE:EXC), Fluence Energy, Inc. (NASDAQ:FLNC), and Northwest Natural Holding Company (NYSE:NWN), Genie Energy Ltd (NYSE:GNE) is among the 12 high growth utility stocks to buy.