BEPC - 2 Top Energy Stocks to Buy in April
2024-04-01 06:42:00 ET
Energy stocks have gotten off to a blistering start to 2024. The average energy stock has gained more than 12.5%, as measured by the Energy Select Sector SPDR ETF . That outpaced the equally red-hot S&P 500 's 10.2% gain.
However, there are still some compelling opportunities in the sector. Enbridge (NYSE: ENB) and Brookfield Renewable (NYSE: BEPC) (NYSE: BEP) stand out as two of the top energy stocks to buy this April. Here's why they could fuel high-octane total returns from here.
Enbridge has gotten off to a very sluggish start to the year, with shares barely budging. That's a headscratcher, given the Canadian pipeline and utility giant's progress already this year. In early February, Enbridge reported solid fourth-quarter results. It reported a 6% increase in its adjusted EBITDA last year, its 18th straight year of achieving its financial guidance. Meanwhile, a month later, Enbridge extended its visible growth outlook through 2026, expecting to deliver 7% to 9% annual adjusted EBITDA growth during that period.
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2 Top Energy Stocks to Buy in April