Best Ethical, ESG Stocks, for 2024

Best Ethical, ESG Stocks, for 2024. Covers stocks from AI, to tech, to healthcare, renewable energy, healthcare, and many more.

 

By Ron Robins, MBA

Transcript & Links, Episode 129, May 3, 2024

Hello, Ron Robins here. So, welcome to this podcast episode 129 titled “Best Ethical, ESG Stocks, for 2024.” It’s presented by Investing for the Soul. Investingforthesoul.com is your site for vital global ethical and sustainable investing mentoring, news, commentary, information, and resources.

Now, remember that you can find a full transcript, and links to content – including stock symbols and bonus material – on this episode’s podcast page located at investingforthesoul.com/podcasts.

Also, a reminder. I do not evaluate any of the stocks or funds mentioned in these podcasts, nor do I receive any compensation from anyone covered in these podcasts. Furthermore, I will reveal to you any personal investments I have in the investments mentioned herein.

Additionally, quotes about individual companies are brief. Please go to this podcast's webpage for links to the actual articles for more company and stock information. Also, some companies might be covered more than once and there are also 6 article links below that time didn’t allow me to review them here.

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1) Best Ethical, ESG Stocks, for 2024

I’m starting this episode with this article, 13 Best Ethical Companies to Invest in 2024. It’s by Ramish Cheema at Insider Monkey and appeared on finance.yahoo.com. Here are some quotes from Mr. Cheema from his article.

“We ranked the top 30 most valuable holdings of the Vanguard ESG U.S. Stock ETF (ESGV) by the number of hedge funds that had bought the shares during the fourth quarter of 2023 and picked the top stocks…

Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here).

13. Adobe Inc. (NASDAQ:ADBE)

Hedge Fund Shareholders: 105

Its Photoshop software is one of the best known image editing software in the world, and in April 2024, Adobe shared that it will add artificial intelligence features to Photoshop later this year.

12. Thermo Fisher Scientific Inc. (NYSE:TMO)

Hedge Fund Shareholders: 111

Thermo Fisher Scientific is one of the biggest medical instruments and devices companies in the world. The shares are rated Buy on average.

11. UnitedHealth Group Incorporated (NYSE:UNH)

Hedge Fund Shareholders: 113

UnitedHealth Group is the largest healthcare benefits provider and plan manager in the U.S. 2024 has been quite a controversial year for the firm after it was targeted through a cyber attack earlier this year that disrupted healthcare services across America.

10. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Hedge Fund Shareholders: 120

Advanced Micro Devices is an American semiconductor designer that makes and sells CPUs, GPUs, and other silicon products… Wall Street appears to be quite optimistic about the firm's future prospects, as it has rated the shares Strong Buy.

9. Salesforce, Inc. (NYSE:CRM)

Hedge Fund Shareholders: 131

Salesforce is an American enterprise software company that enables firms to manage their customer relationships… the shares are up after reports indicate that Salesforce is no longer pursuing a multi billion dollar acquisition to grow its business operations.

8. Apple Inc. (NASDAQ:AAPL)

Hedge Fund Shareholders: 131

April 2024 hasn't been a great month for the firm, as not only have its shares proved to be lackluster in gains, but multiple reports share that consumer interest in the Apple Vision Pro headset is declining.

7. Mastercard Incorporated (NYSE:MA)

Hedge Fund Shareholders: 141

Mastercard is a financial technology firm that acts as a gateway between merchants and consumers. It's… rated (a) Strong Buy on average.

6. Visa Inc. (NYSE:V)

Hedge Fund Shareholders: 162

Visa Inc. is another payment gateway platform and services provider. Like Mastercard, it was also at the center of a bullish analyst note from Morgan Stanley in April 2024 that indicated that Visa Inc. was benefiting from the surge in global travel.

5. NVIDIA Corporation (NASDAQ:NVDA)

Hedge Fund Shareholders: 173

NVIDIA Corporation is Wall Street’s artificial intelligence darling. Its shares are up by 198% over the past year…

4. Alphabet Inc. (NASDAQ:GOOGL)

Hedge Fund Shareholders: 214

Alphabet Inc. is one of the biggest technology companies in the world. The firm was out with an announcement worthy of its size in April 2024 when it announced that it would invest $640 million to set up a new data center in The Netherlands.

3. Meta Platforms, Inc. (NASDAQ:META)

Hedge Fund Shareholders: 242

Meta Platforms, Inc. is the biggest social media and communications company in the world. Its CEO Mark Zuckerberg appeared to have thrown a curve ball in the AI market in April 2024 when Meta Platforms announced its Llama 3 model which it claims is one of the most powerful open source AI platforms in the world.

2. Amazon.com, Inc. (NASDAQ:AMZN)

Hedge Fund Shareholders: 293

Amazon.com is one of the biggest eCommerce retailers in the world. Like other mega cap stocks, it is also focusing heavily on AI, and announced plans in April through which its AWS business division seeks to host other businesses’ AI models.

1. Microsoft Corporation (NASDAQ:MSFT)

Hedge Fund Shareholders: 302

Microsoft is a global consumer software and enterprise computing giant. The firm scored a big win in April 2024 when beverages giant Coca Cola signed a $1.1 billion deal with it to use Microsoft’s AI and cloud computing platforms.”

End quotes.

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2) Best Ethical, ESG Stocks, for 2024

This next article comes from investorplace.com, a site with a prolific output of articles related to renewable energy. This new article is titled The Power of the Sun: 3 Solar Energy Stocks Primed for 5X Gains. It’s by Faizan Farooque. Now some quotes from Mr. Farooque.

“1. Array Technologies (NASDAQ:ARRY)

has surpassed Wall Street projections four times…

Despite tremendous success, Array stock is down 31% in 2024 due to lower-than-expected annual expectations. The company’s reduction of its annual prediction has lowered the stock’s price, making it ideal for investors looking for inexpensive solar stocks. Analysts predict a 68% upside.

2. Canadian Solar (NASDAQ:CSIQ)

The company has missed profit expectations seven times in a row, with the most recent miss being 350%.

All it can do is focus on its business and grow. To do this, Canadian Solar is constructing a 5GW solar cell factory in Jeffersonville, Indiana, at a cost of $800 million…

Investors will hope the expansion into China and the new $800 million plant will help realize the stock’s 84% upside potential.

3. First Solar’s (NASDAQ:FSLR)

path forward will depend on its aggressive expansion in the solar business. It’s spending $1.2 billion to expand its U.S. manufacturing capabilities…

First Solar also paid $38 million to buy the Swedish perovskite expert Evolar. It is hoped that this buy will speed up the creation of very efficient tandem photovoltaic (PV) technology…

The potential upside of over 22% reflects this narrative, placing it highly among solar stocks.”

End quotes.

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3) Best Ethical, ESG Stocks, for 2024

This third article comes by way of a new website to me, techopedia.com. The article is titled Best ESG Stocks to Invest in 2024 and it’s by Jim Halley. Now some brief comments by Mr. Halley on each company.

“1. ASML Holding (NASDAQ: ASML)

The Dutch company has a monopoly on EUV lithography machines that are used to imprint patterns on silicon chips.

2. Microsoft (NASDAQ: MSFT)

The tech company hasn’t let its profit goals get in the way of ESG progress and has invested heavily in renewable energy. It has set ambitious goals for reducing water use and to be carbon neutral.

3. Hermes International (OTC: HESAF)

The luxury goods retailer sells longer-lasting goods to protect the environment and has a science-based target to lower greenhouse gas emissions in its supply chain and operations.

4. Fortinet (NASDAQ: FTNT)

The cybersecurity company has lowered its carbon footprint, avoiding 455 tons of CO2 emissions by using eco-friendly packaging. It also uses 100% renewable energy in 80% of its owned sites.

5. Check Point Software Technologies (NASDAQ: CHKP)

The Israeli company focuses on cybersecurity services. It said it’s looking to be carbon neutral by 2040. It also focuses on charitable work and gender equality.

6. Colgate-Palmolive (NYSE: CL)

Founded in 1806, it’s one of the oldest companies in the US stock market. It has a diverse workforce, with 42% of its senior managers and directors being minorities (Black, Asian or Latino).

7. Adobe (NASDAQ: ADBE)

The software company gets high sustainability scores by using renewable energy sources and reducing waste. It also has several diversity and inclusion initiatives. 

8. Brookfield Renewable Partners (NYSE: BEP)

It develops and operates renewable power and sustainable assets, including hydroelectric, wind, utility-scale solar power. It pays an above-average dividend. 

9. Constellation Energy (NASDAQ: CEG)

The electrical power and natural gas management services provider has the US’s largest carbon-free nuclear presence after investing in the South Texas Project Electric Generating Station. 

10. Applied Materials (NASDAQ: AMAT)

The world’s No. 1 semiconductor wafer fabrication equipment maker gets high ESG scores because it uses 100% renewable energy – wind and solar power – in the US, and 70% globally.”

End quotes

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4) Best Ethical, ESG Stocks, for 2024

The fourth article is another one from the investorplace.com site titled 7 Alternative Energy Stocks to Buy on the Fossil Fuel Fallout. It’s by Josh Enomoto. Here are some quotes from Mr. Enomoto on each of his picks.

“1. NextEra Energy (NYSE:NEE)

generates, transmits, distributes and sells electric power to retail and wholesale customers in North America. Per its public profile, the company generates electricity through wind, solar, nuclear, natural gas and other clean energy...

It’s one of the alternative energy stocks to keep on your radar.

2. Cameco (NYSE:CCJ)

provides uranium for electricity generation. It operates through multiple segments, with its mainline uranium unit involved in the exploration for, mining, milling, purchase and sale of uranium concentrate. It also features a fuel unit that engages in the refining and fabrication of the commodity…

It’s an unignorable component of alternative energy stocks to buy.

3. Ormat Technologies (NYSE:ORA)

(Is engaged in geothermal energy production.) Geothermal is exactly what it sounds like — extracting energy from the earth’s core. It’s sustainable, renewable and doesn’t involve building ugly wind turbines that could impact wildlife. Notably, the company is a strong financial performer. Last fiscal year, it posted an average positive earnings surprise of 22.58%.

4. First Solar (NASDAQ:FSLR)

provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile and internationally. Per its public profile, the company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules…

It’s still risky but it could be a compelling wager for alternative energy stocks.

5. Clearway Energy (NYSE:CWEN)

Per its corporate profile, Clearway has approximately 6,000 net megawatts (MW) of installed wind, solar and energy generation projects. It also features approximately 2,500 net MW of natural gas-fired generation facilities…

The most optimistic analyst believes that Clearway Energy has… over 62% upside potential.

6. Brookfield Renewable (NYSE:BEPC)

owns and operates a portfolio of renewable power and sustainable solution assets primarily in the U.S., Europe, Colombia and Brazil. According to its corporate profile, Brookfield operates hydroelectric, wind, solar and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 MW…

Shares feature a moderate buy consensus view.

7. Clean Energy Fuels (NASDAQ:CLNE)

provides natural gas as alternative fuels for vehicle fleets and related fueling solutions in the U.S. and Canada… Clean Energy Fuels ranks as the highest-risk, highest-reward prospect on this list of alternative energy stocks.

Analysts rate shares a consensus strong buy… projecting over 215% upside potential.”

End quotes.

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Other Honorable Mentions – not in any order

1. Title: Qualcomm a Top Socially Responsible Dividend Stock With 2.1% Yield (QCOM) on nasdaq.com. By BNK Invest.

2. Title: This ESG ETF Is Bucking the Trend on etftrends.com. By Nick Peters-Golden.

3. Title: 10 Best Brokers For ESG Investing in 2024 on benzinga.com. By Sam Boughedda.

4. Title: Invest in the Planet: 3 Sustainable Stocks for Earth Day 2024 on investorplace.com. By Andrea van Schalkwyk.

5. Title: 3 Renewable-Focused ETFs Just Hit 3-Year Lows. Are They Worth Buying Now? On fool.com. By Daniel Foelber.

6. Title: 7 stock picks for ESG-conscious investors on equities.com. By Faizan Farooque.

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Ending Comment

Well, these are my top news stories with their stock and fund tips -- for this podcast titled: “Best Ethical, ESG Stocks, for 2024.”

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I’ll talk to you next on May 17^th.

Bye for now.

 

© 2024 Ron Robins, Investing for the Soul