OIL PRICE SHOCK drives these stocks - Nordex, Nel, and dividend gem RE Royalties

RE Royalties: Stock finally takes off

The importance of alternatives to oil and gas is becoming increasingly clear, and RE Royalties is benefiting from this trend. The stock is one of the high flyers of 2026. It took a while, but investors are finally recognizing the opportunities offered by the business model and rewarding the high dividend payout. Although the dividend yield has now fallen below 10%, a dividend yield of more than 9% remains highly attractive.

In the renewable energy sector, RE Royalties has an interesting and perhaps even unique business model. As is common in mining, projects are financed under a royalty model. The loans are often repaid within a few years, and the capital is then available to RE Royalties for new investments. The royalty payments, on the other hand, run for 20 years or more. The company targets projects in proven renewable technologies, including solar, wind, hydropower, and energy storage.

As RE Royalties is very active in the US, it benefits from the energy requirements of AI data centers. Since its cooperation with US project developer Solaris Energy, investors have increasingly taken notice of this development. As part of the collaboration, RE Royalties has already invested a total of USD 4.8 million in 15 projects in various US states, with the first projects already nearing commissioning. RE Royalties and Solaris Energy intend to continue working closely together. The news flow is likely to continue to drive RE Royalties' share price in the coming weeks. In any case, the stock still does not appear to be expensive.

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Nordex: Consolidation already over?

Could the consolidation of Nordex shares be over sooner than expected? As a specialist in wind turbines, the company is benefiting from rising oil prices and the associated search for alternative energy sources. The company is landing one order after another.

The next success story came on Tuesday. Nordex will supply wind turbines with a total output of 279.2 MW for projects in Germany. The 40 turbines were ordered by wpd. This existing customer of Nordex is a globally active developer and operator of wind and solar parks. As part of the current order, Nordex will supply a total of 36 N163/6.X wind turbines and four N175/6.X turbines. The turbines are intended for various wind farms in Mecklenburg-Western Pomerania, North Rhine-Westphalia, Hesse, and Lower Saxony. Nordex will also provide maintenance for the turbines over a period of 15 years.

wpd last placed an order with Nordex for turbines with a capacity of 126 MW in September of last year.

Nel ASA: Figures fail to impress

While the shares of RE Royalties are on an upward trend, there are no positive signs for Nel. Most recently, the hydrogen specialist failed to impress with its Q4 2025 results or its outlook. Revenue from customer contracts fell by 20% year-on-year to NOK 330 million. Total revenue declined from NOK 450 million to NOK 361 million. At the same time, EBITDA remained in the red at minus NOK 36 million. However, the net loss of NOK 870 million weighs particularly heavily, following a loss of only NOK 64 million in the same quarter of the previous year. The main reason for this is high value adjustments totaling NOK 799 million in the PEM and Alkaline divisions. This underlines that, despite technological progress, Nel remains under considerable operational and financial pressure.

One ray of hope was the order intake, which rose to NOK 686 million in the quarter, more than quadrupling compared to the weak figure for the same period last year. The order backlog also increased significantly compared to the third quarter, reaching NOK 1.319 billion. Nevertheless, the outlook for the year as a whole is much more sobering: compared to the same quarter last year, the order backlog is still 18% lower.

In addition, Nel itself admits how difficult the year has been. Delayed investment decisions by customers, postponed project milestones, and declining revenues show that the hydrogen market continues to fall short of earlier expectations. Although Nel still has a solid cash cushion of around NOK 1.6 billion, this has also shrunk compared to the previous year.

The outlook is also unconvincing. Nel points to technological advances, the commercialization of the new pressure-based alkaline platform, and the hope for more competitive green hydrogen. However, it will likely take some time before the company can achieve robust revenue and decent margins.

RE Royalties attracts investors with a dividend yield of more than 9%, which appears attractive given the company's diversified royalty portfolio and exposure to the growing energy demand of AI data centers. In contrast, Nel shares currently lack clear catalysts, as sustained revenue growth and improved profitability remain key challenges. Nordex, meanwhile, could be due for a breather after its recent rally, although the steady flow of new orders continues to support the stock.