3 Renewable Energy Stocks That Are Screaming Buys in March

Renewable-energy stocks have been under considerable pressure over the past couple of years. Surging interest rates have boosted borrowing costs, making it more expensive for many of these companies to fund new development projects. This has caused some concerns about their near-term growth prospects.

Those worries have weighed on the shares of NextEra Energy (NYSE: NEE), Brookfield Renewable (NYSE: BEPC) (NYSE: BEP), and Clearway Energy (NYSE: CWEN) (NYSE: CWEN.A), even though they've reaffirmed their growth forecasts several times. Between that pessimism and the long-term growth still ahead for renewable energy, they look like screaming buys this March.

Shares of NextEra Energy have slumped 25% over the past year. That price drop has driven its dividend yield up to around 3.7%, its highest level over the past decade. It has also weighed on its valuation. NextEra Energy currently trades at a forward price-to-earnings (P/E) ratio of 16.4. That's well below the more than 25 times forward earnings it fetched earlier last year.

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Source Fool.com