Best Renewable Energy Stocks To Add to Your Watchlist - March 22nd

Today, three notable renewable energy stocks are drawing attention for potential investment, as identified by MarketBeat's stock screener tool. These stocks are Bank of New York Mellon, Southern Company, and MasTec. Investment in renewable energy stocks pertains to companies engaged in the production, development, or distribution of energy derived from renewable sources like solar, wind, hydroelectric, geothermal, and biomass. These companies seek to promote sustainable energy solutions, decreasing dependency on fossil fuels and their environmental effects. Recently, these companies have exhibited the highest trading volumes among renewable energy stocks.

Bank of New York Mellon (BK)

The Bank of New York Mellon Corporation offers an array of financial products and services both in the United States and globally. Its operations span several segments, including Securities Services, Market and Wealth Services, and Investment Management. In particular, the Securities Services segment provides a variety of services including custody, trust and depositary services, accounting, exchange-traded funds, and private equity fund management.

Recently, Bank of New York Mellon’s stock saw a decline of $0.48, closing at $83.46. The trading volume reached 9,720,665 shares, surpassing its average volume of 3,681,405. The stock possesses a 50-day moving average of $84.88, while the 200-day average stands at $78.94. Its current ratio is 0.69, quick ratio at 0.70, and a debt-to-equity ratio of 0.83. With a market capitalization of $59.92 billion, the stock has a price-to-earnings (P/E) ratio of 14.36. Bank of New York Mellon’s stock has fluctuated between a 52-week low of $52.64 and a high of $90.34.

Southern Company (SO)

The Southern Company, through its subsidiaries, participates in generating, transmitting, and distributing electricity. Additionally, they develop and manage power generation assets, including various renewable energy projects and wholesale electricity sales. They also distribute natural gas across several states, including Georgia and Tennessee.

Yesterday, Southern's stock fell by $0.76 to $89.21. During trading, 8,327,269 shares changed hands, significantly higher than its average of 4,308,321 shares. Southern has a debt-to-equity ratio of 1.60, a current ratio of 0.67, and a quick ratio of 0.66. The stock carries a market cap of $97.84 billion and a P/E ratio of 22.25, with its 52-week low at $67.53 and a high of $94.45.

MasTec (MTZ)

MasTec, Inc. specializes in infrastructure construction and provides engineering, building, installation, maintenance, and upgrade services predominantly in the communications, energy, and utility sectors across the U.S. and Canada. It operates through various segments, including Clean Energy and Infrastructure and Power Delivery.

MasTec’s stock declined by $2.70, reaching a price of $123.89. The trading activity for the day amounted to 4,896,017 shares compared to its average volume of 868,422 shares. This company has a market cap of $9.82 billion, a P/E ratio of 110.61, and has seen a low of $82.29 and a high of $166.95 in the past year.

As the market increasingly shifts towards sustainable energy, keeping a close eye on these stocks could be beneficial for investors looking to diversify their portfolios in the renewable energy sector.

Investing, Energy, Stocks