5 Best Renewable Energy Stocks to Buy According to Hedge Funds

In this article we discuss the 5 best renewable energy stocks to buy according to hedge funds. If you want to read our detailed analysis of these companies, go directly to the 10 Best Renewable Energy Stocks to Buy According to Hedge Funds.

5. Brookfield Renewable Partners L.P. (NYSE: BEP)

Number of Hedge Fund Holders: 24

Brookfield Renewable Partners L.P. (NYSE: BEP) is a renewable power generating company, operating mainly in North America, Colombia, Brazil, Europe, India, and China. The main renewable energy sources used by the company are hydroelectric, wind, and solar. This company ranks 5th on our list of the best renewable energy stocks to buy according to hedge funds.

In May, Brookfield Renewable Partners L.P. (NYSE: BEP) announced a $0.31 per share quarterly dividend, with a forward yield of 3.24%. The new dividend will be payable by June 30th. The company’s first quarter 2021 GAAP EPS was $0.24, missing estimates by $0.21. However, its reported $1.02 billion revenue beat estimated by $92.07 million.

Brookfield Renewable Partners L.P. (NYSE: BEP) gained 54.38% in the past year. By the end of the first quarter, 24 hedge funds had stakes in the company worth $223 million, up from 20 hedge fund holders in Q420.

Like Tesla, Inc. (NASDAQ: TSLA), Workhorse Group Inc. (NASDAQ: WKHS) and Arcimoto, Inc. (NASDAQ: FUV), Brookfield Renewable Partners L.P. (NYSE: BEP) is a good stock to invest in.