Top 5 Renewable Energy Stocks to Watch in 2021
The global transition to clean power and growing demand for renewable energy has been a tailwind for this sector. With the ESG movement, more and more renewable energy companies are seeing large investments from funds and are awarded higher multiples. The Biden presidency is also expected to be a tailwind with infrastructure spending and investments in renewable energy.
Many renewable energy stocks operate in regulated markets and offer stable returns on investments. They usually pay a dividend that should increase over time.
Here are the top 5 renewable energy stocks to watch in 2021:
Europe's biggest utility. His top pick for global transition to clean power. At the forefront of the transition. Based in Italy, operates across multiple geographies. New green deal should provide a lot of funding, of which Enel should be the prime beneficiary. Nice entry point here. Yield is 4.21%. (Analysts’ price target is $9.13)
Very good stock, however, being treated like a tech stock instead of a utility. Most of the business is in Florida and consists of solar, wind, natural gas and battery storage. 35x P/E Ratio. Growth rate around 11%. Buy a little now and buy more if/when there is a correction.
(A Top Pick Jan 18/21, Up 15%) It remains a longtime holding, a core income stock that pays 6% which is safe and will increase annually through 2025. A capital plan will support that. They will build transmission lines to renewable energy sources and help de0carbonize their fleet. She'd buy it for income.
For a taxable account so you get the tax credit It pays a nice, rising dividend, but shares have drifted lower in the past year, until it's now attractive. AQN is among the best in renewable energy.
Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Certainly lower risk now at these prices. However, would wait for better news and improvements on fundamentals. Hard to call the bottom and sentiment could continue to be negative. Trading at 1.7x sales, which is below pandemic pows. Would wait for more positive momentum. Unlock Premium - Try…