In this article we will take a look at the 5 best renewable energy stocks to buy now. For a detailed analysis of the alternative energy industry, go directly to the 10 Best Renewable Energy Stocks to Buy Now.
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5. General Electric Company (NYSE: GE)
General Electric Company (NYSE: GE) is a Boston-based multinational company operating in aviation, healthcare, electronics, power, and other industries. The firm has stakes in the wind, solar, hydro, and hybrid branches of the clean energy sector. The company was founded in 1892 and is placed fifth on our list of 10 best renewable energy stocks to buy now. The firm is most famous for wind energy solutions driven by state-of-the-art wind turbines that operate both onshore and offshore for power generation needs.
The company has a market cap of more than $119 billion and posted an annual revenue of close to $80 billion in December 2020. Last month, Bank of America retained a Buy rating on GE stock with a price target of $15. Analysts at the bank projected a positive outlook for the firm in 2021. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Eagle Capital Management held the most shares in the firm – 125 million – worth more than $1.3 billion. Pzena Investment Management was second on the list with shares worth $970 million.
Longleaf Partners Global Fund, in their Q4 2020 investor letter, mentioned General Electric Company (NYSE: GE):
“General Electric (GE) (-3%, -0.28%; 74%, 3.32%), the Aviation, Healthcare and Power conglomerate, was among the top two contributors in the fourth quarter after a very difficult first half. The company’s crown jewel Aviation business sells and maintains commercial and military jet engines. With air travel frozen, this year’s second quarter was its worst in over a century of operating history with a $680 million operating loss. 3Q revenues improved sequentially as some flights resumed but still declined 39% year-over-year. Yet GE Aviation earned a remarkable $356 million in the third quarter due to extreme cost discipline. With fewer expenses, the same world-class competitive position and favorable long-term air-travel growth prospects, Aviation should keep improving incrementally with the potential to emerge stronger than ever within several years. GE Healthcare revenues, excluding non-recurring ventilator sales for COVID treatment, also improved 3% year-over-year in an encouraging performance. GE also took steps to give back in 2020 by working to help develop thousands of ventilators to aid coronavirus patients. The stock has roughly doubled from its March low as business results improved, in large part due to CEO Larry Culp’s excellent management. Please stay tuned for the next episode of the Price-to-Value Podcast in which Vice-Chairman Staley Cates interviews Larry Culp on Lean manufacturing, GE’s culture, navigating COVID and his outlook for the business.”
