Ken Fisher’s Top 5 Energy Stock Picks

In this piece, we will take a look at Ken Fisher’s top five energy stock picks. If you want to take a detail look at recent events in the energy industry and some of Mr. Fisher’s predictions, then take a look at Ken Fisher’s Top 15 Energy Stock Picks.

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

Fisher Investments’ Q2 2023 Stake: $717 million

NextEra Energy, Inc. (NYSE:NEE) is a utility company with more than thirty thousand megawatts of power generation capacity. While it is best known for its electricity transmission, NextEra Energy, Inc. (NYSE:NEE) also has one of the biggest renewable energy production capacities in the U.S. – a key factor when considering the firm’s long term prospects.

Insider Monkey’s Q2 2023 survey of 910 hedge funds revealed that 59 had bought NextEra Energy, Inc. (NYSE:NEE)’s shares. Out of these, the firm’s largest investor is Mr. Fisher’s investment firm since it owns 9.6 million shares that are worth $717 million.

4. ConocoPhillips (NYSE:COP)

Fisher Investments’ Q2 2023 Stake: $742.9 million

ConocoPhillips (NYSE:COP) is a global oil and gas production company with a presence on several continents. The firm is currently looking to aggressively expand its presence in Canada, by acquiring an oil facility for a whopping $3 billion.

Ken Fisher’s Fisher Investments owns 7.1 million shares of the oil company, allowing it to own a $742 million stake. Along with his firm, 62 of the 910 hedge funds part of Insider Monkey’s second quarter of 2023 research have also invested in ConocoPhillips (NYSE:COP). Natixis Global Asset Management’s Harris Associates is the company’s biggest hedge fund shareholder, courtesy of its $1.5 billion stake.

3. Chevron Corporation (NYSE:CVX)

Fisher Investments’ Q2 2023 Stake: $1.1 billion

Chevron Corporation (NYSE:CVX) is a diversified oil giant which not only produces crude oil, but also refines, transports, and sells it to the end consumer. The firm scored a win in August when Mizuho upgraded its share price rating to Buy and upgraded the share price target to $209 citing optimism about Chevron Corporation (NYSE:CVX)’s long term cash generation prospects.

73 of the 910 hedge funds polled by Insider Monkey had bought Chevron Corporation (NYSE:CVX)’s shares as of June 2023. Out of these, Warren Buffett’s Berkshire Hathaway is the firm’s largest investor through a stake worth $19.3 billion.

2. TotalEnergies SE (NYSE:TTE)

Fisher Investments’ Q2 2023 Stake: $1.17 billion

TotalEnergies SE (NYSE:TTE) is another diversified oil and gas company that also has a sizeable presence in the renewable energy sector. Analysts have penned in a $10 share price upside for the firm and it won a massive offshore wind farm contract in Germany in July.

After sifting through 910 hedge funds for their second quarter of 2023 portfolios, Insider Monkey discovered that 20 had held a stake in the company. TotalEnergies SE (NYSE:TTE)’s biggest stakeholder among these is Fisher Investments since it owns 20.4 million shares that are worth $1.17 billion.

1. Shell plc (NYSE:SHEL)

Fisher Investments’ Q2 2023 Stake: $1.3 billion

Shell plc (NYSE:SHEL) is a global petroleum giant which is also one of the biggest liquefied natural gas (LNG) suppliers in the world. Demand for this precious fuel has soared in Europe as of late since the continent is moving away from relying on cheap Russian gas. The company is facing a bit of trouble these days, as the threat of a $1 million fine for a chemical plant fire in the U.S. lingers over its head.

43 of the 910 hedge funds part of Insider Monkey’s Q2 2023 database had bought Shell plc (NYSE:SHEL)’s shares. Mr. Fisher’s hedge fund is the firm’s largest hedge fund investor courtesy of a $1.3 investment.

Disclosure: None.  You can also take a look at 50 Most Valuable Companies in the World by Market Cap and 15 Best Consumer Discretionary Stocks to Buy According to Hedge Funds.

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