Rows of cabinets containing lithium ion batteries supplied by Fluence, a Siemens and AES Company, are seen inside the AES Alamitos Battery Energy Storage System, which provides stored renewable energy to supply electricity during peak demand periods, in Long Beach, California on September 16, 2022.
Patrick T. Fallon | AFP | Getty Images
A transition toward renewable energy sources has helped propel growth in the utilities sector over the past decade, but investors need a keen eye to spot the best opportunities in the field.
TipRanks recognized the 10 best analysts in the utilities sector who delivered significant returns and edged past their peers through their recommendations.
TipRanks leveraged its Experts Center tool to identify the analysts with high success rates. Then, it analyzed each recommendation by analysts in the utilities sector over the past 10 years. TipRanks’ algorithms calculated the statistical significance of each rating, the average return and the analysts’ overall success rate.
Top 10 analysts from the utilities sector
The image below shows the most successful Wall Street analysts from the utilities sector.
1. Shelby Tucker — RBC Capital
Shelby Tucker tops the list. Tucker has an overall success rate of 67%. His best rating has been on Fluence Energy (NASDAQ:FLNC), a provider of energy storage products and services. His buy call on FLNC stock from May 18, 2022 to May 18, 2023, generated a noteworthy return of 177.1%.
2. Frederic Bastien — Raymond James
Frederic Bastien is second on the list, with a success rate of 62%. Bastien’s top recommendation is Black Diamond (TSE:BDI), a Canadian company that operates a portfolio of businesses focusing on modular buildings and temporary workforce housing solutions. The analyst generated a profit of 179.5% through his buy recommendation on BDI stock from May 7, 2020 to May 7, 2021.
3. Benjamin Pham — BMO Capital
BMO Capital analyst Benjamin Pham ranks No. 3 on the list. Pham has a success rate of 68%. His best recommendation has been on AltaGas (TSE:ALA), a Canadian energy infrastructure company. The analyst generated a return of 113% through a buy recommendation on the stock from March 16, 2020 to March 16, 2021.
4. Mark Jarvi — CIBC
Mark Jarvi bags the fourth spot on the list. The analyst has a 70% overall success rate. Jarvi’s best recommendation has been on Pinnacle Renewable (TSE:PL), a Canadian producer of industrial wood pellets. Based on his buy recommendation, the analyst generated a profit of 161.7% from July 21, 2020 to July 21, 2021. Pinnacle was acquired by Drax Group in 2021.
5. Robert Catellier — CIBC
Fifth-place analyst Robert Catellier has a success rate of 66%. His best recommendation is Keyera (TSE:KEY), a Canada-based integrated energy infrastructure company. Based on this pick, the analyst delivered a profit of 179.1% from March 18, 2020 to March 18, 2021.
6. Alberto Gandolfi — Goldman Sachs
Taking the sixth position is Alberto Gandolfi. The analyst sports a 64% success rate. Gandolfi’s top recommendation was for Orsted (OTCMKTS:DNNGY), a Danish company that develops and operates offshore and onshore wind and solar farms, energy storage facilities and renewable hydrogen and green fuels facilities. Through the buy call on Orsted stock, the analyst generated a return of 88.1% from March 23, 2020 to March 23, 2021.
7. Nelson Ng — RBC Capital
RBC Capital analyst Nelson Ng is seventh on this list, with a success rate of 60%. The analyst’s best call has been a buy on the shares of Methanex (TSE:MX), a Canadian producer and supplier of methanol. The recommendation generated a return of 194.6% from May 7, 2020 to Jan. 4, 2021.
8. Patrick Kenny — National Bank
In the eighth position is Patrick Kenny of National Bank. Kenny has an overall success rate of 67%. The analyst’s top recommendation was for Secure Energy Services (TSE:SES), a Canadian environmental and energy infrastructure company. Through this buy call, the analyst generated a solid return of 323.5% from Oct. 26, 2020 to Oct. 26, 2021.
9. Neil Kalton — Wells Fargo
Neil Kalton ranks ninth on the list. The analyst sports a 63% success rate. His top call was made on Orsted. The buy recommendation generated a return of 81.8% from Oct. 14, 2019 to Oct. 14, 2020.
10. Julien Dumoulin-Smith — Bank of America Securities
Julien Dumoulin-Smith has the 10th spot on the list, with a success rate of 57%. The analyst’s best call has been a buy on shares of Vivint Solar, which was later acquired by Sunrun (NASDAQ:RUN), a provider of residential solar, battery storage and energy services. The recommendation generated a return of 547.5% from Sept. 30, 2019 to Sept. 30, 2020.
Bottom line
Savvy investors can consider the recommendations of top analysts as they make informed investment decisions. We will return soon with the top 10 analysts of the past decade in the basic materials sector.