5 Best Green Stocks To Invest In 2024

4. PG&E Corporation (NYSE:PCG)

Number of Hedge Fund Holders: 58

PG&E Corporation (NYSE:PCG), operating through its subsidiary Pacific Gas and Electric Company (NYSE:PCG-PA), provides electricity and natural gas to customers in northern and central California, USA. They produce electricity from different sources including nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources. PG&E Corporation (NYSE:PCG)  is one of the best clean energy stocks.

On February 14, PG&E Corporation (NYSE:PCG) declared a $0.01 per share quarterly dividend, in-line with previous. The dividend is to be paid on April 15 to shareholders on record as of March 28.

According to Insider Monkey’s fourth quarter database, 58 hedge funds were bullish on PG&E Corporation (NYSE:PCG), an increase from 49 funds in the last quarter. Dan Loeb’s Third Point held the largest position in the company, with 57.86 million shares valued at $1.04 billion.

Third Point Management made the following comment about PG&E Corporation (NYSE:PCG) in its Q1 2023 investor letter:

“Our strategy is to preserve liquidity and buying power to take advantage of markets when they “break”. While overall indices remain elevated, we are finding more chances to provide liquidity across all three asset classes in which we invest – credit, structured credit, and equity – opportunities which have been key drivers of performance for the fund. Our portfolio is balanced across industries with a focus on event-driven names including companies involved in spin-offs, significant cost-cutting, or other types of under-appreciated business transformation. PG&E Corporation (NYSE:PCG), which is still our largest position, continues to deliver strong performance, down 50bps in the first quarter but up 6.2% for the year to date after the Fire Victims Trust sold another 60 million shares in a block trade.”