Check out these 3 renewable energy stocks for a green future - Kalkine Media

August 06, 2021 05:38 PM PDT | By Team Kalkine Media
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  • Clearway Energy, Inc. (NYSE: NCWEN) dividend yield is 4.37%. Its stock climbed 18% in one year.
  • NextEra Energy, Inc. (NYSE: NEE) has a P/E ratio of 50.74. It generated a 14% return in one year.
  • TPI Composites, Inc. (NASDAQ: TPIC) P/E ratio is 295.57. The stock gained 42% in one year.

Green energy stocks deal with renewable sources of energy like wind, sun, and water. In April, President Joe Biden had set the target to cut carbon emissions by 50% by 2030. With this government push, the green energy sector is likely to see significant growth.

Here, we discuss three rising renewable energy stocks in the market.  

NextEra Energy, Inc. (NYSE: NEE) generates, distributes, and sells power in the US and Canada through its regulated utility, Florida Power & Light. 

NEE has a market capitalization of 158.76 billion and a P/E ratio of 50.74. Its current dividend yield is 1.93%, and its annualized dividend is US$ 1.54.

Its operating revenue for the June quarter was US$ 3.93 billion compared to US$ 4.20 billion in June quarter previous year. The net income attributable to the company was US$ 256 million, or US$ 0.13 per diluted share, compared to US$ 1.28 billion or US$ 0.65 per diluted share.

Its cash, and cash equivalent were US$ 884 million compared to US$ 1.1 billion in the December quarter of 2020.

NEE’s stock touched the highest of US$ 87.69 and the lowest of US$ 66.78 in 52 weeks. It generated a 14% return in the stock price in one year and closed at US$ 80.49 on Aug 5, 2021.

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Source - Pixabay

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Clearway Energy, Inc. (NYSE: NCWEN) is an electric utility company that focuses on renewable energy generation like thermal power. 

The company has a market capitalization of US$ 3.55 billion. Its P/E ratio is 78.15. The current dividend yield is 4.37%, and annualized dividend is US$ 1.338. 

Its revenue for the June quarter was US$ 380 million compared to US$ 329 million in a year-ago period. Clearway’s net income was US$ 35 million, or US$ 0.30 per share diluted compared to US$ 47 million, or US$ 0.41 per share diluted in June quarter, 2020. 

Its cash and cash equivalents and restricted cash were US$ 470 million compared to US$ 465 million in the December quarter of 2020. 

Clearway stock’s 52 weeks highest and lowest prices are US$ 37.23 and US$ 22.69, respectively. The stock increased 18% in one year and closed at US$ 30.37 on Aug 5, 2021.

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TPI Composites, Inc. (NASDAQ: TPIC) operates in the wind energy and transportation industry. It manufactures composite wind blades and structures for transport such as buses, trucks, and rail.

The market capitalization of the company is US$ 1.52 billion, and the P/E ratio is 295.57. The company does not pay dividends.

It declared its second-quarter result on Aug 5. The June quarter revenue for the company was US$ 459 million compared to US$ 374 million in Q2 the previous year. It incurred a net loss of US$ 39.8 million or US$ 1.08 per diluted share compared to US$ 66.1 million or US$ 1.87 per diluted share in the year-ago period. 

The cash and cash equivalent and restricted cash were US$ 123 million compared to US$ 97 million in Q2 of 2020. 

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TPIC stocks 52 weeks highest and lowest price are US$ 81.36 and US$ 24.02, respectively. The stock closed at US$ 40.21 after gaining 42% in one year.

Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.


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