Brookfield Renewable (NYSE:BEPC), Darling Ingredients (NYSE:DAR), and Constellation (NASDAQ:CEG) are three sustainable energy companies with potential for portfolio growth in 2024 and beyond. Billy Hwan, CPA, CFA, and Portfolio Manager at Parnassus Value Equity, highlights Brookfield Renewable s role in reducing GHG emissions and meeting decarbonization goals through its global portfolio of hydro, solar, and wind power assets. Despite a decline in stock value due to rising interest rates, Hwan believes the company s recent $10 billion agreement with Microsoft signals long-term benefits from the renewable energy trend. Anthony Tursich, CFA, Senior Vice President and Co-Portfolio Manager at Calamos Investments, focuses on Darling Ingredients, a company that transforms waste into renewable diesel fuel. Tursich emphasizes the company s joint venture with Valero and its potential for growth in sustainable aviation fuel production. Michel Sznajer, Global Renewables Portfolio Manager at Ecofin, discusses Constellation s position as the largest nuclear electricity producer in the U.S. Sznajer notes the company s advantage in negotiating direct contracts with hyperscale data center developers seeking carbon-free energy sources. Sznajer highlights the benefits of the Inflation Reduction Act (IRA) and the increasing demand for carbon-free energy, which should drive Constellation s earnings growth. These three companies represent just a few of the many stock picks for renewable energy upside in U.S. stocks. The full list can be found in the Wall Street Transcript ESG & Sustainable Strategies Report.
Source: twst.comPublished on 2024-09-16
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