Renewable energy is a rapidly growing industry with immense potential. As a result, renewable energy stocks have outperformed the market in recent years, as investors have become increasingly aware of the environmental and financial benefits of investing in clean energy. Renewable energy sources such as solar, wind, and hydropower are becoming increasingly cost-competitive with traditional fossil fuels, making them an attractive option for both utilities and consumers.
Additionally, the rise of electric vehicles is creating new demand for renewable energy, as charging stations require large amounts of clean electricity. With the world’s focus on combating climate change, it’s clear that renewable energy will continue to play a major role in our economy in the years to come. As a result, investing in renewable energy stocks could be a good idea for any long-term investor. Considering this, here are two renewable energy stocks to watch in the stock market today.
Renewable Energy Stocks To Buy [Or Sell] Now
NextEra Energy (NEE Stock)
First, NextEra Energy (NEE) is a clean energy company. NextEra Energy’s principal subsidiaries are Florida Power & Light Company, which serves more than 10 million customer accounts in Florida, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world’s largest generator of renewable energy from the wind and sun.
NEE Recent Stock News
This past week, NextEra Energy announced its Board of Directors has declared a regular quarterly common stock dividend of $ $0.425 per share. Specifically, the dividend is payable on December 15, 2022, to NEE shareholders of record on November 25, 2022.
Aside from that, also last week the company announced it expects to release its third-quarter 2022 financial results on Friday, October 28, 2022, before the stock market opens. During the second quarter of 2022, NextEra Energy reported earnings of $0.81 per share, with revenue of $5.2 billion.
NEE Stock Chart
Brookfield Renewable Partners (BEP Stock)
Next, Brookfield Renewable Partners (BEP) is a renewable energy company. In short, the company has a diversified portfolio of hydroelectric, solar, wind, and storage assets. Additionally, Brookfield Renewable is focused on the transition to a decarbonized economy. As a result, Brookfield’s renewables business is an important part of that transition. Brookfield Renewable has a global project development pipeline. Meanwhile, the company is actively developing projects in North America, Europe, South America, and Asia.
BEP Recent Stock News
Last week, the company announced it will report its 3rd Quarter 2022 financial results on Friday, November 4, 2022, before the stock market opens. In the meantime, let’s recap how the company performed in the second quarter of 2022.
Diving in, Brookfield Renewable Partners announced a loss of $0.03 per share, along with revenue of $1.3 billion in the 2nd Quarter of 2022. For context, Wall Street’s consensus earnings were estimates of $0.09 per share on revenue of $1.2 billion. Moreover, BEP posted a 25% increase in revenue during the same period in 2021.