Considering the demand for renewable energy, investing in wind energy stocks is becoming more attractive than ever. Looking for some wind energy stocks to buy now? Here’s a look at the 9 of the best.
NextEra Energy Inc. (NYSE: NEE)
NextEra Energy Inc. is a leading clean energy company based in Juno Beach, Florida. The company primarily generates and distributes electricity from renewable sources such as wind farms and solar power.
Florida Power & Light (FPL) and NextEra Energy Resources are the primary business divisions of NextEra Energy.
More than 5 million people in Florida receive electricity from FPL, a regulated utility.
At the same time, NextEra Energy Resources develops, constructs, and manages sustainable energy projects across North America, including wind and solar power plants.
NextEra Energy has a proven track record of expansion and innovation, focusing on adding value for its clients, shareholders, and the environment.
NEE reports year-over-year revenue growth of 22.77% and is valued at $225.22 billion
Investors also stand to earn dividends, with NEE recording a strong dividend yield of 2.46% with an annual payout of $1.87.
Clearway Energy Inc. (NYSE: CWEN)
Clearway Energy Inc. is a leading renewable energy company that owns and operates a diversified portfolio of clean energy assets across the United States.
The company focuses on generating electricity from renewable sources such as wind, solar, and energy storage.
It operates through two primary business divisions: Conventional Energy and Renewables.
The Conventional Energy segment consists of natural gas-fired, coal-fired, oil-fired, and cogeneration facilities, while the Renewables segment consists of wind, solar, and energy storage facilities.
The company focuses on delivering reliable, low-cost, and sustainable energy solutions. It has a long-term contracted revenue stream from its portfolio of renewable energy assets, which helps to provide stability and predictability for investors.
In 2022, it made a revenue of $1.19 billion, predicted to rise to $1.40 billion in 2023.
Clearway Energy is highly profitable, recording a gross profit margin of 63.45% and having a market cap of $6.17 billion.
It rewards its shareholders with a dividend yield of 4.80% and an annual payout of $1.50.
General Electric Company (NYSE: GE)
General Electric Company, commonly known as GE, is a multinational conglomerate based in Boston, Massachusetts, that operates in various industries.
GE’s history dates back to 1892 when Thomas Edison founded it as the Edison General Electric Company.
Over the years, the company has grown and expanded through a series of mergers and acquisitions, becoming one of the world’s largest and most diverse companies.
Today, GE is organized into four business divisions: Aviation, Healthcare, Power, and Renewable Energy.
The Renewable Energy division develops and manufactures wind turbines and other clean energy solutions.
The company is renowned for its commitment to innovation and sustainability, focusing on developing new technologies and solutions that address some of the world’s most pressing challenges.
In recent years, GE has undergone significant restructuring and divestitures to refocus on its core businesses and improve its financial performance.
This restructuring has paid off, with the company reporting a revenue of $76.56 billion in 2022.
General Electric has a market cap of $102.55 billion. As of March 2023, its share price was roughly trading at $94, an 11% boost from February.
Plug Power Inc. (NASDAQ: PLUG)
Founded in 1997, Plug Power Inc. is a New York-based leading provider of hydrogen fuel cell systems for a wide range of applications, including material handling, stationary power, and on-road vehicles.
Plug Power focuses on developing and commercializing hydrogen fuel cell technology, which generates electricity through a chemical reaction between hydrogen and oxygen.
The company designs its fuel cell systems to provide efficient, clean, and reliable power for various applications, including forklifts, airport ground support equipment, stationary power for backup, and remote power.
Plug Power is, however, good wind energy stock because of its significant investments in alternative energy.
It produces and distributes green hydrogen, which it creates using renewable energy sources such as wind and solar power.
PLUG’s financials make for good reading.
In 2022, it generated a revenue of $701.44 million, expected to increase by 90% to $1.33 billion this year and $2.06 billion by 2024. It has year-over-year revenue growth of 39.63%.
Experts value Plug Power at $5.29 billion with a market cap of $6.55 billion. However, it does not currently offer dividends.
Brookfield Renewable Partners L.P. (NYSE: BEP)
Another leading global renewable power company is Brookfield Renewable Partners L.P.
The company, based in Bermuda, has a diverse portfolio that includes hydroelectric, wind, solar, and storage assets.
These assets have a total capacity of over 19,000 megawatts (MW) across North America, South America, Europe, and Asia.
The company’s assets are primarily in high-quality, long-term contracted markets, providing stable and predictable cash flows.
Brookfield Renewable’s business model is built on operational excellence, strong partnerships, and disciplined capital allocation.
The company has a track record of acquiring and developing high-quality renewable energy assets and optimizing its existing assets’ performance through operational improvements and efficiency initiatives.
In addition to its core business of owning and operating renewable energy assets, Brookfield Renewable also develops new renewable energy projects.
The project will aid in providing energy storage solutions to support the integration of renewable energy into the grid.
The company is also committed to expansion, as seen with its recent purchase of Australia’s Origin Energy.
Brookfield Renewable reported revenue of $4.74 billion in 2022 and is on track to generate a revenue estimate of $5.19 billion this year.
The company also pays a dividend, recording a dividend yield of 4.40% and an annual payout of $1.35.
BEP sold for roughly $30 on the NYSE as of March 2023.
Dominion Energy Inc. (NYSE: D)
Dominion Energy Inc. is a Fortune 500 company and one of the largest producers and transporters of energy in the United States.
The company, based in Richmond, Virginia, operates in 16 states, including Ohio, North Carolina, and Utah.
Dominion Energy’s business primarily focuses on electric, gas, and energy infrastructure.
The company operates a network of electric and gas utilities that serves more than 7 million customers across the United States.
In addition, Dominion Energy is involved in developing, constructing, and operating energy infrastructure, including natural gas pipelines, storage facilities, and LNG terminals.
The company is committed to reducing its carbon footprint. It aims to achieve net-zero carbon and methane emissions from its electric power generation and gas infrastructure operations by 2050.
Dominion Energy is investing in renewable energy and clean technologies, including offshore wind power, solar power, and energy storage to achieve this goal.
The company’s strong financial position and diversified business model have allowed it to weather economic downturns and regulatory challenges.
In 2022, it earned $17.17 billion and recorded year-over-year revenue growth of 22.99%.
The company also pays a dividend and has a dividend yield of 4.80% and an annual payout of $2.67.
As of March 2023, its stocks are trading at roughly $55 on the NYSE.
Eversource Energy (NYSE: ES)
Another Fortune 500 energy company is Eversource Energy. The Connecticut-based company operates in three divisions: electric distribution, natural gas distribution, and electric transmission.
Eversource Energy’s electric distribution business serves more than 3.6 million customers in Connecticut, Massachusetts, and New Hampshire, making it the most prominent electric distribution company in New England.
The company’s natural gas distribution business serves more than 300,000 customers in Massachusetts, while its electric transmission business operates more than 300 miles of high-voltage transmission lines in Connecticut and Massachusetts.
Eversource Energy is committed to reducing its carbon footprint and aims to achieve net-zero carbon emissions by 2030.
Like Dominion Energy Inc., the company invests in renewable energy, such as wind and solar, for energy efficiency and grid modernization.
The company is also exploring new technologies, such as electric vehicle charging infrastructure and battery storage, to support the transition to a cleaner energy future.
The company’s recent debt concerns have rendered it a good entry point for new investors. As of March 2023, its share price was about $75.
It rewards shareholders with a dividend yield of 3.48% and an annual payout of $2.70 at a ratio of 62.35%.
TPI Composites Inc. (NASDAQ: TPIC)
TPI Composites Inc. is a global manufacturer of composite wind blades and other composite structures for the wind energy, transportation, and industrial markets.
The company is based in Scottsdale, Arizona, and operates manufacturing facilities in the United States, Mexico, China, Turkey, and India.
TPI Composites’ primary business is manufacturing wind blades, critical components of wind turbines that generate renewable energy.
The company has a strong track record of innovation and technology leadership in the wind energy industry. It is one of the world’s largest independent manufacturers of wind blades.
In addition to wind blades, TPI Composites produces composite structures for the transportation and industrial markets, including buses, trucks, and construction equipment.
The company’s expertise in composite materials and manufacturing processes has made it a preferred supplier to leading original equipment manufacturers in these industries.
TPI Composites’ growth strategy is focused on expanding its presence in the wind energy market and diversifying into new markets such as transportation and industrial applications.
The company launched a new restructuring plan after taking a hit from its $100 million senior notes offering.
It is, however, still on track to generate a revenue of $1.66 billion this year in keeping with its year-over-year growth of 3.42%.
TPIC is roughly trading at $12 per share as of March with a market cap worth $509 million.
Array Technologies Inc. (NASDAQ: ARRY)
We round off our list with Array Technologies Inc, a leading manufacturer of solar tracking systems for utility-scale solar and wind energy projects.
The company, based in Albuquerque, New Mexico, operates manufacturing facilities internationally through two divisions, Array Legacy Operations and STI Operations.
Array Technologies’ primary business is designing, manufacturing, and installing solar tracking systems, which optimize solar panels’ energy output by tracking the sun’s movement throughout the day.
Array Technologies is committed to sustainability and reducing the environmental impact of its operations.
The company’s solar tracking systems help reduce the overall cost of solar and wind energy, making it more competitive with traditional energy sources.
ARRY records year-over-year revenue growth of 91.90%. It earned $1.64 billion in 2022.
The company has a value of $3.90 billion and a market cap of $2.96 billion. As of March 2023, its stocks sold for roughly $19, up 5% from the previous month.
Are Wind Energy Stocks a Good Investment?
With the world increasingly shifting away from fossil fuels and toward renewable energy sources, wind power is quickly becoming a key part of the global energy equation.
As a result, demand for wind turbines and related equipment will likely continue to rise in the years to come, driving up the value of wind energy stocks.
In other words, it’s fair to say that wind energy stocks are good investments.
Additionally, wind energy stocks offer several benefits compared to traditional energy stocks. For one thing, wind energy is a clean and sustainable energy source, which makes it an attractive investment for those looking to support environmentally responsible companies.
Moreover, wind energy stocks tend to be less volatile than traditional energy stocks, as they are less susceptible to fluctuations in oil and gas prices.
Finally, wind energy stocks can offer attractive returns for investors. While the industry is still relatively new, many wind energy companies have already seen significant growth and are poised for even greater success in the future.
With careful research and investment, investors can potentially see substantial returns from wind energy stocks as the industry continues to grow and mature.
FAQs
Should I Invest In Wind Energy?
As things stand, Wind energy offers a sustainable and cost-effective source of power that is gaining popularity, making it a wise investment choice.
What Are The Biggest Renewable Energy Stocks In The World?
The biggest renewable energy companies are Brookfield Renewable Corp, Algonquin Power & Utilities Corp and Plug Power Inc.
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