BEPC - 3 Energy Stocks That Are Screaming Buys in March
2023-03-06 09:42:52 ET
The energy industry has been one of the few that have held up well through the market's collapse over the last 18 months. Companies have benefited from higher commodity prices, and management teams have been less eager to expand for the sake of expansion, which torpedoed margins in the mid-2010s.
Not every energy stock is a great buy today, but a few stick out. First Solar (NASDAQ: FSLR) is a leading solar manufacturer, Brookfield Renewable Partners (NYSE: BEPC) sports a 4.6% dividend yield, and ConocoPhillips (NYSE: COP) is a highly profitable oil and gas company. Here's why I love these three diverse energy stocks.
Operational momentum couldn't be stronger for First Solar. The company entered 2022 with 21.4 gigawatts (GW) of backlog demand to fulfill, and by the end of February 2023 that figure had more than tripled to 67.7 GW. In addition to higher demand, the company is increasing capacity from 9.8 GW in 2022 to 20.1 GW in 2024, with new plants in the U.S. and India coming online .
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3 Energy Stocks That Are Screaming Buys in March