IBDRY to BRLXF: Top 5 wind energy stocks to explore amid rising demand - Kalkine Media

May 05, 2022 02:22 PM PDT | By Versha Jain
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Highlights
  • Iberdrola S.A. (OTC: IBDRY) has a dividend yield of 1.76%.
  • NextEra Energy, Inc.’s (NYSE: NEE) dividend yield is 2.39%, and its annualized dividend is US$1.70.
  • Boralex, Inc. (OTC: BRLXF) has a P/E of 233.13, and the dividend yield is 1.76%.

The Russia-Ukraine war has proved to be a boon for energy companies, including renewable energy firms. The Ukraine war has highlighted the world’s reliance on a few countries for energy supply. It has also exposed the complexities of this dependency.   

The US Energy Information Administration (EIA) expects non-hydro power renewable energy sources, including solar and wind power, to grow from 13% in 2021 to 17% in 2023.

Wind energy is a part of the renewable energy industry that generates energy with the most negligible carbon emissions. Wind energy companies are engaged in developing and managing wind farms and producing and distributing electricity. 

There are companies in this segment which are pure-play or have a wind energy division or subsidiary. General Electric Co. is one example which has a renewable energy division. 

Here, we discuss five wind energy stocks:

Iberdrola S.A. (OTC: IBDRY)

Closing price on May 2, 2022: US$45.98

Bilbao, Spain-based Iberdrola is a utility company operating in around 40 countries. It is the largest owner of wind farms globally, comprising one-third of its portfolio. Its portfolio has wind, hydro, natural gas, coal, and nuclear power plants.

For the quarter ended March 31, 2022, its revenue was Euro12.15 billion (US$12.78 billion) compared to Euro10.09 billion in the same quarter a year ago. Its net income was Euro1.06 billion (US$1.12 billion) compared to Euro1.03 billion for the March quarter of 2021. 

The company has a market capitalization of US$74.62 billion. Its dividend yield is 1.76%. The stock traded in the range of US$33.88 to US$56.51 in the last 52 weeks.

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Wind stocks

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ReNew Energy Global plc (NASDAQ: RNW)

Closing price on May 2, 2022: US$7.88

ReNew Energy Global PLC contributes to the energy transition journey in India as an Independent Power Producer. The London-based company runs utility-scale wind and solar energy projects through its subsidiaries. These projects generate energy for customers in commercial and industrial spaces. 

As of December 31, 2021, the company’s portfolio consisted of 10,331 MW. The total commissioned capacity was 7,440 MW, where 3,749 MW was wind, 3,592 MW was solar, and 99 MW were hydro.

For the quarter ended December 31, 2021, its revenue was INR11.9 billion (US$160 million) compared to INR9.9 billion in the same quarter of 2020. The loss came in at INR6.38 billion (US$86 million) compared to INR3.5 billion in the December quarter of 2021. 

The stock has a market capitalization of US$3.2 billion. It traded in the range of US$12.30 to US$5.06 in the last 52 weeks.

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Siemens Gamesa Renewable Energy (OTC: GCTAY)

Closing price on May 2, 2022: US$3.08

Zamudio, Spain-based Siemens Gamesa manufactures onshore and offshore wind turbines. It operates two business segments - wind turbines and services. The wind turbine division offers turbines for pitch and speed technology. The Service division looks after monitoring, managing, and maintaining wind farms.

For the quarter ended December 31, 2021, it reported revenue of Euro1.83 billion (US$1.93 billion) compared to Euro2.3 billion for the same quarter the previous year.

It incurred a net loss of Euro403 million (US$424 million) compared to a net income of Euro12 million in the December quarter of 2020.

It has a market capitalization of US$11.02 billion. Its stock traded in the range of US$3.0 to US$7.02 in the last 52 weeks.

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NextEra Energy, Inc. (NYSE: NEE)

Closing price on May 2, 2022: US$69.87

The Florida based NextEra Energy provides electricity through its regulated utility, Florida Power & Light (FP&L). FP&L distributes power in Florida and contributes more than 60% of the group's operating earnings. It generates energy from natural gas, wind, nuclear, and solar assets.

In the quarter ended March 31, 2022, its operating revenue was US$2.89 billion compared to US$3.73 billion in the same quarter of 2021. 

Its net loss attributable to NextEra Energy came in at US$0.451 billion or US$0.23 per share diluted compared to a net income of US$1.67 billion, or US$0.84 per share diluted in the March quarter of the previous year. 

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NEE stock traded in the range of US$93.73 to US$68.52 in the last 52 weeks. 

It has a market capitalization of US$139 billion and a P/E ratio of 95.69. The forward P/E for one year is 24.86. Its dividend yield is 2.39%, and its annualized dividend is US$1.70.

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Wind stocks to explore in Q2                                                  © Aeolos | Megapixl.com

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Boralex, Inc. (OTC: BRLXF)

Closing price on May 2, 2022: US$29.52

Quebec, Canada-based Boralex Inc. is an electric utility company. The company is engaged in development, construction, and renewable energy power facilities operations. Its portfolio consists of electricity-producing plants using wind, thermal, solar, and hydroelectric fuel sources. Primarily it relies on wind power, followed by hydroelectric power. 

For the fiscal year ended December 31, 2021, its revenue was CA$691 million (US$538 million) compared to CA$633 million in the previous fiscal. The net income of the company came in at CA$17 million (US$13.24 million) or CA$0.17 per share diluted compared to CA$55 million or CA$0.56 per share diluted in fiscal 2020.  

The Boralex stock has a market capitalization of US$3.09 billion. It has a P/E of 233.13, and the dividend yield is 1.76%. The stock traded in the range of US$24.08 to US$33.34 in the last 52 weeks.

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Bottom line:

The First Trust Global Wind Energy ETF (FAN) fell around 11% YTD, while the S&P 500 declined nearly 12% in the same period. Investors, however, should exercise due diligence before investing in the stock market.


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