All the top stocks this year are oil and gas, except for solar company Enphase

Top eight S&P 500 stocks this year are all energy names. But one is unlike the others: Enphase energy.

The solar-focused company stood out against the backdrop of seven other gainers, all in oil and gas stocks.

Random was the top performer this year, with the stock up 116%. Coterra Energy and Exxon both increased by more than 50% during the year.

Then there’s Enphase, which has rallied 47% for 2022. The latest higher, sent stocks to record levels Thursday, according to Enphase’s second quarter results.

The company, which provides components for solar power systems and backup energy storage, posted record revenue for the second quarter with strength coming from Europe.

Stocks have a extra on Thursday after Senate Majority Leader Chuck Schumer, DN.Y. and Senator Joe Manchin, DW.V., said they had reached an agreement on what could become biggest climate package in US history.

Traditional oil and gas companies have been raised this year due to higher commodity prices.

West Texas Intermediate Crude Oil, which is the US oil benchmark, has fallen back from its March high. But it’s still up, trading around $96.75 a barrel on Thursday. During the year, it was up nearly 30%.

Nature Air has more than doubled since the start of the year, up 118%.

That leads to the strength of oil and gas stocks. Despite calls from lawmakers to open the faucet and help ease the burden of inflation from higher energy costs, companies have pledged to keep output steady.

Meanwhile, tech stocks have mostly fallen for the year, especially in the past as high-growth companies with narrow or negative margins. Capital discipline has become the name of the game, with oil and gas companies saying they focus on shareholder payments in the form of buybacks and dividends.

Chevron and Exxon will report quarterly results on the Friday before the opening bell.

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