5 Best Renewable Energy Stocks to Buy According to Hedge Funds

4. NRG Energy, Inc. (NYSE: NRG)

Number of Hedge Fund Holders: 35

NRG Energy, Inc. (NYSE: NRG) is a US integrated power company operating through Texas, East, and West. The company produces and sells electricity in residential, industrial, and commercial areas. NRG Energy, Inc. (NYSE: NRG) utilizes solar and battery storage among other energy sources to generate electricity. This company ranks 4th on our list of the best renewable energy stocks to buy according to hedge funds.

Despite some losses in the first quarter of 2021, NRG Energy, Inc. (NYSE: NRG) saw quadrupled revenues compared to Q420. However, alongside this, they also reported a first quarter GAAP loss of $82 million due to the Texas storm in February. The company missed EPS estimates by $0.46. Yet, the stock gained 14.31% in the past 6 months and 2.75% year to date.

Despite Q1 losses, 35 hedge funds hold stakes in NRG Energy, Inc. (NYSE: NRG) worth $1.6 billion, up from 31 hedge funds holding stakes in the company worth $1.46 billion in Q420.