'There's No Global Warming In The Hamptons': Grant Cardone Slams Media For Sensationalizing Climate Change — But Wall Street Still Likes These Green Stocks

As extreme weather events make headlines around the world, global warming is back in the spotlight. But real estate mogul Grant Cardone does not buy into the rhetoric.

"I'm in the Hamptons today and just want to give you a report on the weather. There's no global warming in the Hamptons. It is freaking awesome, OK? I had to put a damn jacket on," he said in a recent video on Instagram.

The video has a caption that reads, "69°F."

Cardone, who runs real estate investment firm Cardone Capital, is not afraid of making bold statements.

"I know the media is not going to cover the fact that it is actually cool in some places," he said. "Because right now they're about to try to sell to you and to your family that the world is on fire."

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Rising temperatures have caught the attention of many prominent figures.

In July, U.S. Sen. Bernie Sanders wrote, "The last eight years have been the eight hottest on record. This year is on track to be the hottest year in recorded history, and this Fourth of July might have been the hottest day in the past 125,000 years."

And it could be more than just a climate issue. European Central Bank President Christine Lagarde recently said, "Climate change affects inflation, and inflation is the beast that all central bankers — whether they wear a green jacket or not — want to tame and discipline."

Wall Street is also bullish on companies that are actively tackling the issue. Here are three that analysts predict could see significant upside.

Tesla Inc. TSLA

According to the U.S. Environmental Protection Agency (EPA), 28% of America's greenhouse gas emissions in 2021 came from the transportation sector — and particularly from burning fossil fuels for cars, trucks, ships, trains and planes.

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The EPA estimates that a typical passenger vehicle emits approximately 4.6 metric tons of carbon dioxide per year.

Tesla is helping resolve the issue by producing electric vehicles (EVs), which have no tailpipe emissions.

The company is making an impact. In the second quarter of 2023, it delivered 466,140 vehicles, representing an 83% increase year over year.

Tesla shares have surged 122% in 2023. Wedbush Securities analyst Dan Ives has a Buy rating on Tesla and a price target of $350, implying a further upside of 45%.

First Solar Inc. FSLR

Solar energy can play a significant role in reducing greenhouse gas emissions. One reason is that it produces no emissions during the power generation process. And according to the United Nations, lifecycle assessments of solar power "clearly demonstrate that it has a smaller carbon footprint from cradle to grave than fossil fuels."

First Solar's solutions help humans harness the sun's power. The company produces solar panels, including those used in utility-scale solar power plants.

The business brought in $811 million in net sales in the second quarter. For the full year, net sales are projected at $3.4 billion to $3.6 billion.

First Solar shares are up 21% year to date. Guggenheim Securities analyst Joseph Osha has a Buy rating on First Solar and a price target of $332 — roughly 87% above where the stock currently sits.

NextEra Energy Partners LP NEP

NextEra Energy Partners was created by energy company NextEra Energy Inc. NEE to own, manage and acquire clean energy projects that generate steady cash flow.

Today, NextEra Energy Partners' portfolio holds interests in wind, solar and energy storage projects in the U.S., along with natural gas infrastructure assets in Texas and Pennsylvania.

Because natural gas is not considered a renewable energy source, NextEra Energy Partners is not a renewables pure play. But it recently announced plans to become one.

"To lead this transition, we are launching a process to sell our natural gas pipeline assets, and we are suspending incentive distribution rights fees to NextEra Energy through 2026," NextEra Energy Partners Chairman and CEO John Ketchum said in a press release.

Wells Fargo Securities analyst Neil Kalton has an Overweight rating on NextEra Energy Partners and a price target of $80, implying a potential upside of 64%.

The partnership also stands out for its cash payout to investors: It pays quarterly distributions of 85.4 cents per share, translating to an annual yield of 7%. 

NextEra Energy Partners stock is down about 30% in 2023. If you like oversized dividends but aren't a fan of the volatility associated with publicly traded companies, you might want to look into reliable income plays outside the stock market — such as investing in rental properties with as little as $100 while staying completely hands-off.

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