Joe Biden, as the 46th president of the United States, is a democrat and will follow his party's agenda in the economy. based on these policies, some companies will have more room to advance. We are trying to introduce the top companies whose stocks will grow substantially during Biden's administration.
We already covered 5 companies so far. If you by any chance missed them, here they are:
Here are 3 more companies whose stocks we would like to introduce as best-buys during President Biden's administration:
NextEra Energy (NEE)
NextEra Energy is a company in the electric utility field whose focus is on renewable energy. The company's market value is currently at $160.7 bn. In Fortune’s list of Most Admired Companies in 2020, NextEra stood at the very top among other utility companies. It is a leader in green energy and its stocks clearly reflect that. However, investors don’t buy it for a dividend. The yield is at only 1.75%.
NextEra is rightfully famous as the world’s largest producer of wind and solar energy. It is also the largest battery storage company in the world.
Atlantica Sustainable Infrastructure AY
Valued at 4.9 billion dollars, Atlantica Sustainable Infrastructure is a UK-based company that has multiple operations in the world, including of course the US. Its portfolio is relatively diverse and includes
- renewable energy assets
- natural gas assets
- water assets.
All of them are under long-term contracts. AY’s dividend yield is at 3.8%.
The following are AY’s capacity:
- 1,496 megawatts of renewable energy
- 343 megawatts of natural gas generation capacity
- 1,166 miles of electric transmission lines
- 10.5 million cubic feet per day of water desalinization assets
First Solar (FSLR)
As the name suggests, First Solar manufactures solar power systems and is currently valued at $10.2 billion.
Although China is the most significant player in solar panel production now, after the COVID pandemic, the policy could change to reduce the demand for cheaper Chinese parts and give this niche to homegrown producers.
The future of such stocks relies heavily on whether President Biden pushes for a greener future, making the stock relatively volatile.