Top 5 Best-Performing Energy Stocks This Year

The energy sector has experienced mixed performance in 2024, with significant variations among different segments. Here are the top 5 standout performers:

1. Eco Wave Power (NASDAQ:WAVE)

• Market Cap: $86.8M

• Year-to-Date Returns: 948.4%

• A wave energy company that converts ocean waves into clean electricity

• Secured a major permit for a wave energy project at the Port of Los Angeles

• Partnered with Shell, expecting revenue boost in Q4 2024

2. NuScale Power Corp. (NYSE:SMR)

• Market Cap: $5.7B

• Year-to-Date Returns: 615.2%

• Developer of small modular nuclear reactors

• Benefiting from growing enthusiasm for nuclear energy

• Potential challenges from financial constraints in the SMR sector

3. Vistra Corp (NYSE:VST)

• Market Cap: $49.7B

• Year-to-Date Returns: 280.5%

• Integrated retail electricity and power generation company

• Crushed Q3 analyst expectations with 54% Y/Y revenue surge

• Raised full-year profit guidance to $5B-$5.2B

• Exploring nuclear plant upgrades for data center power needs

4. Targa Resources Corp. (NYSE:TRGP)

• Market Cap: $40.6B

• Year-to-Date Returns: 115.5%

• Midstream natural gas and natural gas liquid services provider

• Received a Buy recommendation from Goldman Sachs

• Reported Q3 record adjusted EBITDA of $1.07 billion

• Projected full-year adjusted EBITDA above $4.05 billion

5. Tesla Inc. (NASDAQ:TSLA)

• Market Cap: $1.4T

• Year-to-Date Returns: 69.3%

• Leading electric vehicle manufacturer

• Trading near all-time highs

• Potential benefits from anticipated autonomous vehicle approvals

• Wall Street remains cautious with a Hold rating

The energy sector faces uncertainty, particularly with potential policy changes and market fluctuations. While these stocks have shown impressive performance, investors should always conduct thorough research and consider market volatility.