5 Best Stocks That Will Gain From Biden’s Job and Infrastructure Plan

In this article we discuss the 5 best stocks that will gain from Biden’s job and infrastructure plan. If you want to read our detailed analysis of Biden’s economic recovery plan, go directly to 10 Best Stocks That Will Gain From Biden’s Job and Infrastructure Plan.

5. American Electric Power Company, Inc. (NASDAQ: AEP)

American Electric Power Company, Inc. (NASDAQ: AEP) is an Ohio-based electric company meeting the electrical needs of millions of American citizens in more than ten states across the country. President Joe Biden has marked $100 billion to modernize the American electrical infrastructure, and AEP could gain from the plan as it owns the largest electricity transmission system in the country. The firm also has a stake in the electrical transmission system of Texas, a state that Biden has singled out as long overdue for an upgrade in electric transmission.

The market cap of the company is more than $43 billion and it posted a revenue of close to $15 billion in 2020. Morgan Stanley, a leading investment bank, earlier this year urged investors to pick AEP. Stephen Byrd, an analyst at the investment bank, said stocks of firms like American Electric were on the growth trajectory as they moved away from coal power and towards clean energy in line with government initiatives in this regard. American Electric is 5th on our list of top 10 best stocks that will gain from Biden’s jobs and infrastructure plan. 

The company is also getting the attention of the smart money, as 32 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the fourth quarter, up from 30 funds a quarter earlier.