The energy sector is changing a lot in 2024, and that means there are some great investment chances for people who want to make money. Whether you're new to investing or you've been doing it for a while, it's important to know what's happening in the energy world so you can make smart choices. Here are some of the best energy stocks to buy now, based on their potential for growth, the money they pay out in dividends, and where they stand in the market.
1. Chesapeake Energy (CHK)
Chesapeake Energy is doing really well in the U.S. natural gas business. They've managed to get rid of a lot of their debt, which is great news. With top-quality assets in places like the Marcellus and Haynesville shale areas, Chesapeake expects to make over $3.6 billion in profits in 2024. Because natural gas is in high demand globally, especially with what's happening in Europe, Chesapeake is in a good position to make even more money.
2. NextEra Energy (NEE)
NextEra Energy is a big player in wind and solar power. They're leading the charge in using renewable energy sources. With Florida needing more and more electricity and more renewable energy projects happening, NextEra expects to grow by 30% every year. They're also benefiting from tax breaks and new ways to store energy, which means they have a lot of potential for growth.
3. Brookfield Renewable (BEPC)
Brookfield Renewable Partners has a lot of projects lined up worth over $68 billion until 2030. They're taking advantage of the growing demand for renewable energy worldwide. They've been growing steadily by 15-20% every year, thanks to their projects in hydro, solar, wind, and energy storage. As more people switch to renewable energy, Brookfield is a good choice for investors who want to support sustainable energy.
4. JinkoSolar (JKS)
JinkoSolar is one of the biggest suppliers of solar panels globally. They're expecting to make over $12 billion in revenue in 2024. Solar power is getting cheaper and more popular, so JinkoSolar is in a good position to make a lot of money. With new laws encouraging more solar power in the U.S., JinkoSolar is expanding its operations there too.
5. Devon Energy (DVN)
Devon Energy is set to grow by up to 6% in oil production in 2024. They have some of the best spots for drilling in the U.S. With careful planning and good cost management, Devon expects to make over $6 billion in profits next year. This means they can keep giving their shareholders good returns, which is good news for investors interested in the oil and gas industry.
In summary, there are lots of great opportunities in the energy sector right now. By investing in companies like Chesapeake Energy, NextEra Energy, Brookfield Renewable, JinkoSolar, and Devon Energy, you can take advantage of the changing energy landscape and make some smart investments for your future.
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