2023-11-09 06:39:00 ET
The energy industry hasn't gotten the headlines of technology and consumer stocks recently, but the world continues to consume more energy and prices keep going up. Whether it's demand for electric vehicles or the electrification of industrial equipment, the industry's tailwinds are too big to ignore.
Given that backdrop, I think NextEra Energy Partners (NYSE: NEP) , Enphase Energy (NASDAQ: ENPH) , SolarEdge (NASDAQ: SEDG) , and SunPower (NASDAQ: SPWR) are great buys given how much the market has discounted their stocks.
One of the more beaten-up stocks this year is NextEra Energy Partners, the renewable energy asset owner. The company said it would reduce dividend growth in order to shore up the balance sheet. About one-third, or $2.2 billion, of debt will mature before 2026, and rising rates could make refinancing costly. So these are prudent measures, even if they hurt the payout right now.
For further details see:
4 Energy Stocks That Are Screaming Buys in November