Ever since the situation in Ukraine unfolded, there has been major volatility in the energy industry and it looks like it may continue. The spiraling oil prices have also made many energy companies the focus of many investors.
Additionally, energy companies involved in providing other forms of energy have also come into focus. Hence, it is a sector that may well be worth tracking. This article provides you with a glimpse into a number of stocks in the energy sector that could be worth watching at this point.
Gaensel Energy Group (OTCMKTS:GEGR) – It may be called the Gaensel Energy Group but the company has diversified interests and is also involved in the beverage sector. Over the course of the past week, the Gaensel stock has been in the middle of a strong rally and moved up as much as 21% during an intra-day session on Thursday. That takes the gains made by the stock in the past week to as much as 93%.
Yesterday, the company announced that it had managed to complete the first of several renewable energy projects. This came about after Gaensel Energy Group managed to tie up an agreement for the acquisition of a 30% stake in the company LB Energia SRL, based out of Milan in Italy. The acquisition of the stake seems to have come as a source of considerable excitement for investors and it remains to be seen if the stock can continue to add to its gains over the next few sessions.
Houston Natural Resources Corporation (OTCMKTS:HNRC) – The first energy-related company that may be worth tracking at this point in time is the Houston Natural Resources Corporation. There has not been any news about the company in recent days but earlier on in the month on June 2, the company had announced that it was going to acquire more wastewater treatment plants in order to continue with its efforts to build up a network of such plants.
At the time it was announced that the transaction was going to be completed at some point during June. The water treatment company that Houston Natural Resources Corporation is going to be acquired for a sum of $10 million.
Mass Megawatts Wind Power Inc (OTC:MMMW) – Another stock to watch is Mass Megawatts Wind Power Inc which could be worth looking into if you are looking into renewable energy stocks. Last month the company had announced that it had become a fully reporting the United States Securities and Exchange Commission company.
The periodic report would need to be filed from July 7 this year. It is expected to lead to higher transparency and higher investor confidence as a consequence.
Enbridge Inc (NYSE:ENB) – Another energy company that may well be added to the watch list at this point in time is Enbridge. The company had actually come into focus earlier on in the week after it announced that it was considering a solar energy project worth as much as $256 million at the Enbridge Ingleside Energy Center.
The Center is actually the company’s export terminal and had been acquired by Enbridge for a sum of $3 billion back in 2021. It was a major new announcement and one that could create a buzz around the Enbridge stock.
NextEra (NYSE:NEE) – Last but not least, it is the NextEra stock that may be worth looking into for investors looking for energy stocks. The company is involved in supplying electricity and since the demand for it never really diminishes, it allows the companies involved in the sector to spend on infrastructure with the expectation that demand will remain steady. The company is the biggest electricity company at this point and produces the highest levels of wind and solar energy as well. The company has also pledged an amount of $55 billion in the form of infrastructure spending in the two years between 2020 and 2022.
