3 No-Brainer Stocks to Buy and Hold for the Rest of 2024 and Beyond

Growth Prospects and Investment Plans - NextEra Energy plans to invest $65 billion to$70 billion in renewables over the next four years, targeting up to 46.5 GW of new renewables capacity through 2027 [8] - The company expects to deploy around $12 billion into solar between 2024 and 2027 to generate more cost-effective power at FPL [8] - NextEra Energy's adjusted earnings per share could grow by 6% to 8% through 2027, supporting an annual dividend growth of 10% [8] - Clearway Energy has a capital-recycling strategy, redeploying proceeds from thermal asset sales into higher-returning renewable-energy investments [11] - Clearway Energy has secured or has visibility into new investments, driving future cash-flow growth and supporting dividend increases toward the upper end of its 5% to 8% annual target range through 2026 [11] Dividend Growth and Yield - NextEra Energy expects to grow its dividend per share by nearly 10% annually through at least 2026, backed by earnings and cash-flow growth [3] - Brookfield Renewable offers a dividend yield of 4.7% for the corporate share class and 5.5% for the partnership version, with annual growth targeted at 5% to 9% [5] - Clearway Energy's dividend yield has risen to 6.5% due to higher interest rates weighing on renewable-energy stocks [6] - Clearway Energy's growth potential beyond 2026 could increase its dividend toward the low end of its range in 2027 [7] Market Performance and Catalysts - Clearway Energy shares declined by about 10% in the first half of 2024, roughly 40% below their 2022 peak [6] - Falling interest rates are expected to shift from a headwind to a tailwind for Clearway and the renewable energy sector in the second half of 2024 and beyond [15] - NextEra Energy stock has rallied around 18% year-to-date but remains nearly 24% below its all-time highs [17] - Brookfield Renewable, in conjunction with Brookfield Asset Management, acquired Duke Energy's renewable-power business, which is expected to be immediately accretive [10] Industry Leadership and Capacity - NextEra Energy owns Florida Power & Light Company (FPL), the largest utility in the U.S., and is the world's largest producer of wind and solar energy [12] - FPL has nearly 35 GW of capacity, while NextEra Energy's renewables business has around 34 GW of capacity in operation [12] - Brookfield Renewable is backed by Brookfield Asset Management, a Canadian asset manager with a successful history of global infrastructure investments [5] - Brookfield Renewable has an investment-grade-rated balance sheet and the financial backing to weather swings in the clean energy sector [14]