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Best Renewable Energy Stocks to Buy Now (2024)

Top renewable energy stocks in 2024 ranked by overall Zen Score. See the best renewable energy stocks to buy now, according to analyst forecasts for the utilities - renewable industry.

According to Zen Score, the 3 best renewable stocks to buy right now are:

Nextera Energy Partners (NYSE:NEP) is the top renewable energy stock with a Zen Score of 48, which is 24 points higher than the renewable energy industry average of 24. It passed 17 out of 38 due diligence checks and has strong fundamentals. Nextera Energy Partners has seen its stock lose -45.63% over the past year, underperforming other renewable energy stocks by -54 percentage points.

Nextera Energy Partners has an average 1 year price target of $36.00, an upside of 7.14% from Nextera Energy Partners's current stock price of $33.60.

Nextera Energy Partners stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Nextera Energy Partners, 33.33% have issued a Strong Buy rating, 33.33% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Renew Energy Global (NASDAQ:RNW) is the second best renewable energy stock with a Zen Score of 46, which is 22 points higher than the renewable energy industry average of 24. It passed 15 out of 33 due diligence checks and has strong fundamentals. Renew Energy Global has seen its stock return 15.15% over the past year, overperforming other renewable energy stocks by 7 percentage points.

Renew Energy Global has an average 1 year price target of $8.67, an upside of 34.16% from Renew Energy Global's current stock price of $6.46.

Renew Energy Global stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Renew Energy Global, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Advent Technologies Holdings (NASDAQ:ADN) is the third best renewable energy stock with a Zen Score of 33, which is 9 points higher than the renewable energy industry average of 24. It passed 11 out of 33 due diligence checks and has average fundamentals. Advent Technologies Holdings has seen its stock lose -86.82% over the past year, underperforming other renewable energy stocks by -95 percentage points.

Out of 6 renewable energy stocks that have issued dividends in the past year, the 3 renewable energy stocks with the highest dividend yields are:

Nextera Energy Partners (NYSE:NEP) has an annual dividend yield of 10.4%, which is 6 percentage points higher than the renewable energy industry average of 4.66%. Nextera Energy Partners's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Nextera Energy Partners's dividend has shown consistent growth over the last 10 years.

Nextera Energy Partners's dividend payout ratio of 112.2% indicates that its high dividend yield might not be sustainable for the long-term.

Atlantica Sustainable Infrastructure (NASDAQ:AY) has an annual dividend yield of 7.96%, which is 3 percentage points higher than the renewable energy industry average of 4.66%. Atlantica Sustainable Infrastructure's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Atlantica Sustainable Infrastructure's dividend has shown consistent growth over the last 10 years.

Atlantica Sustainable Infrastructure's dividend payout ratio of 542.7% indicates that its high dividend yield might not be sustainable for the long-term.

Algonquin Power & Utilities (NYSE:AQN) has an annual dividend yield of 6.51%, which is 2 percentage points higher than the renewable energy industry average of 4.66%. Algonquin Power & Utilities's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Algonquin Power & Utilities's dividend has shown consistent growth over the last 10 years.

Algonquin Power & Utilities's dividend payout ratio of -88.6% indicates that its high dividend yield might not be sustainable for the long-term.

Renewable energy stocks were up 1.57% in the last day, and up 5.64% over the last week. Constellation Energy was the among the top gainers in the utilities - renewable industry, gaining 2.56% yesterday.

Constellation Energy shares are trading higher after Wells Fargo maintained an Overweight rating on the stock and raised its price target from $215 to $250.

Based on WallStreetZen's Valuation Score, the 2 most undervalued renewable energy stocks right now are:

Nextera Energy Partners (NYSE:NEP) is the most undervalued renewable energy stock based on WallStreetZen's Valuation Score. Nextera Energy Partners has a valuation score of 71, which is 56 points higher than the renewable energy industry average of 15. It passed 5 out of 7 valuation due diligence checks.

Nextera Energy Partners's stock has dropped -45.63% in the past year. It has underperformed other stocks in the renewable energy industry by -54 percentage points.

Renew Energy Global (NASDAQ:RNW) is the second most undervalued renewable energy stock based on WallStreetZen's Valuation Score. Renew Energy Global has a valuation score of 43, which is 28 points higher than the renewable energy industry average of 15. It passed 3 out of 7 valuation due diligence checks.

Renew Energy Global's stock has gained 15.15% in the past year. It has overperformed other stocks in the renewable energy industry by 7 percentage points.