Asset Managers Bet Grid Stocks to Defy Trump’s Anti-ESG Era (1)

After watching wind and solar stocks plummet in the hours after Donald Trump’s election victory, asset managers are zeroing in on a corner of the green transition they say will defy the president-elect’s anti-ESG agenda: the grid.

One day after the election, analysts at TD Securities told clients that grids and the equipment needed to build them now represent one of “the best-positioned energy transition sub-sectors.”

It’s a call that’s already paying off. Since the Nov. 5 election, a key stock-market gauge of the equipment that goes into grids is up about 6%, while the broader S&P Global Clean ...