Rows of cabinets with lithium-ion batteries, supplied by Siemens and AES company Fluence, are seen inside the AES Alamitos Battery Energy Storage System, which provides harvested renewable energy to provide electricity during periods of peak demand, in Long Beach, California, on September 16. 2022.
Patrick T. Fallon | AFP | Getty Images
The shift to renewable energy sources has fueled growth in the utilities sector over the past decade, but investors should be careful to spot the best opportunities in this area.
TipRanks has recognized the top 10 analysts in the utilities sector who generate significant income and outperform their peers with their recommendations.
TipRanks used the Expert Center tool to identify analysts with high success rates. Then, it analyzed every recommendation from utility sector analysts over the past 10 years. TipRanks algorithms calculated each rating’s statistical significance, average return, and analysts’ overall success rate.
Top 10 Utilities Analysts
The figure below shows the most successful Wall Street analysts of the utility sector.
1. Shelby Tucker — RBC Capital
Shelby Tucker leads the list. Tucker’s overall success rate is 67%. His best rating is open Fluence Energy (NASDAQ: FLNC), is a supplier of energy storage products and services. His buy call on FLNC stock from May 18, 2022 to May 18, 2023 yielded a remarkable return of 177.1%.
2. Frederic Bastien – Raymond James
Frederic Bastien is second on the list with 62% success. This is Bastie’s top recommendation Black Diamond (TSE: BDI), a Canadian company that manages a portfolio of businesses focused on modular buildings and temporary workforce housing solutions. The analyst posted a 179.5% gain from May 7, 2020 to May 7, 2021 with a buy recommendation on BDI stock.
3. Benjamin Pham — BMO Capital
BMO Capital analyst Benjamin Pham is No. 3 on the list. Pham’s success rate is 68%. He has the best recommendation AltaGas (TSE: GET IT), a Canadian energy infrastructure company. The analyst made a 113% return from March 16, 2020 to March 16, 2021 through a buy recommendation on the stock.
4. Mark Jarvey — CIBC
Mark Jarvey is fourth on the list. The analyst has an overall success rate of 70%. Jarvin’s top recommendation was at Pinnacle Renewable (TSE: PL), a Canadian producer of industrial wood pellets. Based on the Buy recommendation, the analyst has gained 161.7% from July 21, 2020 to July 21, 2021. Pinnacle was acquired by Drax Group in 2021.
5. Robert Catellier—CIBC
Ranked fifth, analyst Robert Katelye has a 66% success rate. Here is his best advice Keyera (TSE: Key), an integrated energy infrastructure company based in Canada. Based on this option, the analyst made a profit of 179.1% from March 18, 2020 to March 18, 2021.
6. Alberto Gandolfi — Goldman Sachs
Sixth place goes to Alberto Gandolfi. The analyst has a 64% success rate. It was Gandolfini’s best recommendation Orsted (OTCMKTS: DNNGY), a Danish company that develops and operates offshore and onshore wind and solar farms, energy storage, and renewable hydrogen and green fuel facilities. With a buy call on Orsted stock, the analyst made a return of 88.1% from March 23, 2020 to March 23, 2021.
7. Nelson Ng — RBC Capital
RBC Capital analyst Nelson Ng ranks seventh on this list with a 60% success rate. The analyst’s best call was to buy the stock Methanex (TSE: MX), is a Canadian methanol producer and supplier. The recommendation brought a return of 194.6% from May 7, 2020 to January 4, 2021.
8. Patrick Kenny — National Bank
In eighth place is National Bank’s Patrick Kenny. Kenny’s overall success rate is 67%. The analyst’s main recommendation was for Secure Energy Services (Secure Energy Services) (TSE: SOUND), a Canadian environmental and energy infrastructure company. With this buy call, the analyst made a solid return of 323.5% from October 26, 2020 to October 26, 2021.
9. Neil Calton – Wells Fargo
Neil Calton is ninth on the list. The analyst has a 63% success rate. His main call was made in Orsted. The buy recommendation returned 81.8% from October 14, 2019 to October 14, 2020.
10. Julien Dumoulin-Smith — Bank of America Securities
Julien Dumoulin-Smith is 10th on the list with a success rate of 57%. The analyst’s top call was a buy on shares of Vivint Solar. Sunny (NASDAQ: RUN), a provider of residential solar, battery storage and energy services. The recommendation yielded 547.5% from September 30, 2019 to September 30, 2020.
Bottom line
Savvy investors can consider the recommendations of top analysts when making informed investment decisions. We’ll be back soon with the top 10 analysts of the last decade in the basic materials sector.