5 Best Renewable Energy Stocks to Buy According to Hedge Funds

2. The AES Corporation (NYSE: AES)

Number of Hedge Fund Holders: 51

The AES Corporation (NYSE: AES) is a power generation and utility company. The company owns and operates power plants to generate power to sell for various uses, such as industrial production and utility provision. The AES Corporation (NYSE: AES) makes use of various fuels, sources, and technologies to generate electricity, including solar, hydroelectric, and wind energy sources. This company ranks 2nd on our list of the best renewable energy stocks to buy according to hedge funds.

According to the company’s first quarter of 2021 report, The AES Corporation’s (NYSE: AES) revenue of $2.63 billion demonstrated growth of 12.4% year over year and beat estimates of $260 million. However, the company’s non-GAAP EPS of $0.28 missed estimates by $0.02. This April, the company also announced a $0.15 quarterly dividend per share, making the forward yield stand at 2.13%.

The AES Corporation (NYSE: AES) gained 21.5% in the past 6 months and 11.36% year to date. As of the first quarter of 2021, 52 hedge funds held stakes in the stock worth $1.54 billion, up from the 38 hedge fund holders holding stakes worth $9 million in Q420.