The hydrogen industry is still waiting on the Biden-Harris Administration to loosen restrictive 45V tax credits. And from the looks of it, industry executives are quickly starting to run thin on patience.
“The pace of change is starting to impact project development,” according to Rushabh Shah, director of U.S. Midwest Hydrogen and CCS at BP, as quoted by E&E News. However, if and when the 45V tax issue is resolved, some of the top hydrogen stocks to buy could easily explode higher.
Plus, the Biden Administration could get one step closer to cutting emissions, as hoped. Remember, hydrogen – which only produces water vapor and warm air – is a key part of helping the U.S. achieve its net-zero emission goals.
Again, with hopes that 45V will be loosened, investors can use hydrogen stock weakness as an opportunity to buy. So, let’s examine a few of the top hydrogen stocks that investors may want to consider buying today.
Air Products and Chemicals (APD)
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On March 18, I said, “I’d like to see Air Products and Chemicals (NYSE:APD) refill its bearish gap around $260 initially. From there, it could easily test $272 as the hydrogen story gains momentum. As we wait for the stock to recover, we can collect its dividend of $1.77.”
At the time, APD traded at $243. Today, after testing a high of $286.61, it’s back to $272.26, where it’s again an opportunity. Also, as investors wait for APD to test higher highs, they can collect its current yield of 2.58%. Plus, if you own the stock by July 1, you can collect its latest dividend of $1.77 by Aug. 12.
Also, APD is getting a boost after signing a 15-year agreement to deliver about 70,000 tons per year of green hydrogen to Total Energies’ European refineries by 2030.
Linde (LIN)
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Weakness in Linde (NASDAQ:LIN) is also a strong opportunity to buy. After plunging to about $412.30, it’s slowly trending higher, last trading at $440.53. That just refills its bearish gap from late April. From…
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