5 Most Undervalued Renewable Energy Stocks To Buy According To Hedge Funds

3. NextEra Energy, Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 59

NextEra Energy, Inc. (NYSE:NEE) is one of the global leaders in clean energy. The company has 67 gigawatts of generation capability and a majority of it is through renewable sources. The company plans to completely eliminate its carbon emissions by 2045 according to its ‘Real Zero’ plan.

NextEra Energy, Inc. (NYSE:NEE) inked two deals in August to supply a combined 335 megawatts of solar energy to two companies. The first one was signed with Nucor Corporation (NYSE:NUE) for 250 megawatts and the second was signed with Ingevity Corporation (NYSE:NGVT) for 85 megawatts.

In the second quarter, NextEra Energy, Inc. (NYSE:NEE)’s revenue increased by 42% year-over-year to $7.35 billion, beating the market expectations by $1.18 billion. The company reported a non-GAAP EPS of $0.88, compared to $0.82 estimates.

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