5 Best Renewable Energy Stocks to Buy According to Hedge Funds

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1. General Electric Company (NYSE: GE

Number of Hedge Fund Holders: 68

General Electric Company (NYSE: GE) is a high-tech industrial company worldwide, and it’s ranked 1st on our list of the best renewable energy stocks to buy according to hedge funds. The company’s renewable energy sector generates energy through onshore and offshore wind, blades, hydroelectric, storage, solar, and grid solutions, among others.

On June 8th, the company increased debt repurchase to $7 billion. A few days before this announcement, the company also claimed that its aviation business would benefit from free cash flow in 2021. UBS also reiterated a “Buy” rating for the General Electric Company (NYSE: GE) stock, alongside its $17 price target.

General Electric Company (NYSE: GE) reported revenue of $17.12 billion in the first quarter of 2021 and its $0.03 EPS for the quarter beat estimates by $0.02. Compared to last quarter’s miss by $0.01 with $0.08 EPS, this demonstrates an improvement. The stock also gained 26.41% in the past 6 months and 30.75% year to date.

As of the end of the first quarter of 2021, 68 hedge funds held stakes in General Electric Company (NYSE: GE) worth $6.16 billion, although this is down from the 69 hedge funds holding stakes in the company in Q420 by 1. Despite this, the stake value of the first quarter of 2021 is much higher than that of Q420, which had stood at $5.68 billion. 

Vulcan Value Partners, in its first quarter 2021 investor letter, mentioned General Electric Company (NYSE: GE). Here is what Vulcan Value Partners has to say about General Electric Company in its letter:

General Electric is outperforming our expectations for 2021 as the economic recovery is occurring faster than expected. We are particularly pleased with its free cash flow generation. We are happy to own it in our portfolio.”

You can also take a peek at 15 Biggest Renewable Energy Companies and Stocks and Top 10 Energy Dividend Stocks To Invest In.

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