Top 5 Stocks to Watch Today

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

Number of Hedge Fund Holders: 59

Shares of NextEra Energy, Inc. (NYSE:NEE) advanced over three percent in mid-day trading Tuesday after Morgan Stanley upgraded the producer of wind and solar energy from “Hold” to “Buy.”

Analyst David Arcaro thinks NextEra Energy, Inc. (NYSE:NEE) is set to benefit from the recently approved Inflation Reduction Act, which includes tax credits for renewable power generation. He also increased his price target for NextEra Energy, Inc. (NYSE:NEE) from $94 per share to $99 per share.

Separately, global asset manager ClearBridge Investments also discussed NextEra Energy, Inc. (NYSE:NEE) in its second-quarter 2022 investor letter, stating:

“We increased our exposure to the energy transition during the quarter with new positions in Iberdrola (OTCPK:IBDSF), a Spanish-based integrated utility that is also one of the leading renewable energy developers in the world, and NextEra Energy, Inc. (NYSE:NEE), an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. The war has opened the eyes of the world that energy independence is critical. Renewables are for many countries the only way to get to the target. It is expected that existing renewable project pipelines will be executed faster, and more projects added to existing pipelines.”