Top 10 Clean Energy Stocks For 2023


PNM Resources, Inc.’s (PNM Quick QuotePNM ) strategic infrastructure-related investments and efforts to provide reliable and affordable clean power will enhance its existing performance. Also, the company’s adequate liquidity will allow it to meet its debt obligations.

The company has a trailing four-quarter earnings surprise of 8.53%, on average. Its long-term (three-five years) earnings growth rate is pegged at 5.18%. In the past year, shares of this presently Zacks Rank #3 (Hold) company have gained 14.1%, outperforming the industry’s rise of 12.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

One-Year Price Performance

Image Source: Zacks Investment Research

What’s Driving the Stock?

PNM Resources continues to invest substantially in its utility assets for providing reliable services to its customers. The company plans to invest $3.98 billion during the 2021-2025 forecast period, which will help it enhance its earnings.


In New Mexico, the utility received approvals from both the Federal Energy Regulatory Commission and the New Mexico Public Regulation Commission to acquire the Western Spirit Transmission Line. Construction of the project started at the beginning of this year. We note that the company will play an important role with its expanding transmission assets in the region.

The utility is also steadily taking measures to increase its renewable and battery storage capacity, thus moving toward clean energy. To this end, PNM Resources is focused on exiting coal-fired generation by 2024 and targets an emission-free portfolio by 2040 to bring cleaner energy sources to its production portfolio. The goal of the company is to become carbon neutral before 2045. Also, it plans to replace 114 MW of leased capacity at the Palo Verde Nuclear Generating Station with solar and storage resources. Other utilities like Duke Energy (DUK Quick QuoteDUK ) , DTE Energy (DTE Quick QuoteDTE ) and Xcel Energy (XEL Quick QuoteXEL ) are too making efforts to supply clean energy.


The company boasts sufficient liquidity to meet its near-term obligations and fund capital investments despite the ongoing economic crisis.

Top 10 Clean Energy Stocks For 2023: eHealth Inc.(EHTH)

eHealth, Inc. offers Internet-based insurance agency services for individuals, families, and small businesses in the United States. The company also offers technology licensing and Internet advertising services. Its ecommerce platforms organize and present health insurance information in various formats, as well as enables individuals, families, and small businesses to research, analyze, compare, and purchase various health insurance plans. The company offers various medical health insurance coverage plans, such as preferred provider organization, health maintenance organization and indemnity plans, Medicare plans, short-term medical insurance, student health insurance, and health savings account eligible health insurance plans, as well as ancillary plans, such as dental, vision, and life insurance. Its customers access its ecommerce platforms through its Websites, including eHealth.com, eHealthInsurance.com, eHealthMedicare.com, and PlanPrescriber.com, as well as through a network of marketing partners. The company was incorporated in 1997 and is headquartered in Mountain View, California.


Advisors’ Opinion:

  • [By Ethan Ryder]

    eHealth (NASDAQ:EHTH) had its price objective raised by SunTrust Banks to $75.00 in a research report sent to investors on Friday morning, The Fly reports. They currently have a buy rating on the financial services provider’s stock.

  • [By Motley Fool Transcribers]

    EHealth Inc  (NASDAQ:EHTH)Q4 2018 Earnings Conference CallFeb. 21, 2019, 5:00 p.m. ET

    Contents:
    Prepared Remarks Questions and Answers Call Participants
    Prepared Remarks:


    Operator

  • [By Joseph Griffin]

    ValuEngine lowered shares of eHealth (NASDAQ:EHTH) from a buy rating to a hold rating in a research report report published on Tuesday.

    EHTH has been the topic of several other reports. Cantor Fitzgerald boosted their price target on shares of eHealth to $22.00 and gave the stock an overweight rating in a report on Friday, May 18th. Chardan Capital initiated coverage on shares of eHealth in a report on Thursday, August 16th. They set a buy rating and a $40.00 price target on the stock. BidaskClub upgraded shares of eHealth from a buy rating to a strong-buy rating in a report on Thursday, August 16th. Finally, Zacks Investment Research cut shares of eHealth from a hold rating to a sell rating in a report on Wednesday, August 1st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $26.86.

  • [By Shane Hupp]

    Get a free copy of the Zacks research report on eHealth (EHTH)

    For more information about research offerings from Zacks Investment Research, visit Zacks.com

Top 10 Clean Energy Stocks For 2023: Houston Wire & Cable Company(HWCC)

Houston Wire & Cable Company, incorporated on March 20, 1997, is a holding company. The Company is engaged in provision of electrical and mechanical wire and cable, hardware and related services. The Company operates through sales of wire and cable, hardware and related services segment in the United States market. Its cable management program includes purchasing and storing inventory for product availability. It provides cable management services and value-added services. The Company offers products in categories of wire and cable, including continuous and interlocked armor cable; control and power cable; electronic wire and cable; flexible and portable cord; instrumentation and thermocouple cable; lead and high temperature cable; medium voltage cable; premise and category wire and cable; primary and secondary aluminum distribution cable, and synthetic fiber rope slings, chain, shackles, and other related hardware.


The Company also offers private branded products, including its brand LifeGuard, a low smoke zero halogen (LSZH) cable. Its products are used in repair and replacement work, also referred to as maintenance, repair and operations (MRO), and related projects, larger-scale projects in the utility, industrial and infrastructure markets and a range of industrial applications, including communications, energy, engineering and construction, general manufacturing, marine construction and marine transportation, mining, construction, infrastructure, oilfield services, petrochemical, transportation, utility and wastewater treatment. The Company’s industrial products include armored cable; bare copper and building wire; CIR crush and impact resistant cable; communication cable; hook-up; LifeGuard LSZH cables; mining cable, and tray cable. Its commercial and residential construction products include aluminum building wire and cable; copper building wire, and communication cable.


The Company’s utility cables include overhead transmission; substation control cable, and underground/direct buried cable. Its Communication products are fiber optic cable; high-speed data cable; Houwire sound, security, and fire alarm cable; industrial Ethernet cable, and outside plant telephone cable. The Company’s electrical apparatus and accessories include cable and cord fittings; cast boxes; cast device boxes; commercial boxes; conduit bodies; conduit fittings; fixture hangers, and hazardous fittings. It offers a range of Mechanical Wires, including chains and accessories, custom fabrication, synthetic rope and slings, and wire rope and hardware. The Company caters to the utility market, industrial market and infrastructure market. The utility market includes investor-owned utilities, rural cooperatives and municipal power authorities. The industrial market comprises various manufacturing and production companies. The infrastructure market includes education and health care; air, ground and rail transportation, and telecommunications and wastewater.


Advisors’ Opinion:

  • [By Max Byerly]

    Houston Wire & Cable (NASDAQ:HWCC) hit a new 52-week high and low during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as low as $8.40 and last traded at $8.35, with a volume of 604 shares traded. The stock had previously closed at $7.90.

Top 10 Clean Energy Stocks For 2023: Macquarie Infrastructure Company(MIC)

Macquarie Infrastructure Company LLC, through its subsidiaries, owns, operates, and invests in infrastructure businesses that provide services to businesses and individuals primarily in the United States. It operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power and Energy (CP&E), and Hawaii Gas. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, various chemicals, renewable fuels, and vegetable and animal oils at 10 marine terminals in the United States and 2 marine terminals in Canada. This segment also provides environmental emergency responses, industrial services, and waste transportation and disposal services. The Atlantic Aviation segment offers fueling and fuel-related services, aircraft parking, and hangar services to owners/operators of jet aircraft primarily in the general aviation, commercial, military, freight, and government aviation sectors at 69 airports in the United States. The CP&E segment generates electricity through renewable energy sources. As of December 31, 2014, it had interests in five solar power generating facilities with an aggregate generating capacity of 57 megawatts (MW) located in Arizona, California, and Texas; and two wind power generating facilities with an aggregate generating capacity of 203 MW located in New Mexico and Idaho. The Hawaii Gas segment engages in processing, distributing, and selling synthetic natural gas and liquefied natural gas; and distributing and selling liquefied petroleum gas to residential, commercial, hospitality, military, and wholesale customers, as well as to public sector in Oahu, Hawaii, Maui, Kauai, Molokai, and Lanai. This segment’s products are used in various commercial and residential applications, such as water heating, drying, cooking, emergency power generation, and decorative lighting, as well as for specialty vehicles. The company was founded in 2004 and is based in New York, New York.


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