5 Best Wind Energy and Renewables Stocks to Buy in 2021

4. Suncor Energy Inc. (NYSE: SU)

Number of Hedge Fund Holders: 25    

Suncor Energy Inc. (NYSE: SU) is a Canada-based energy company founded in 1917. It is ranked fourth on our list of 10 best wind energy and renewables stocks to buy in 2021. Although the company is famous for crude production from oil sands, it also runs wind farms. It has energy assets in Asian countries as well. Suncor stock has returned more than 39% to investors over the past year. The firm has a market cap of more than $35 billion. The firm also markets petroleum and related products to consumers across Canada. 

On May 3, Suncor Energy Inc. (NYSE: SU) reported earnings results for the first three months of 2021. The share price of the firm jumped more than 1% that day as it reported operating earnings of C$746 million, a significant improvement from operating losses of C$421 million over the same period last year. 

At the end of the fourth quarter of 2020, 25 hedge funds in the database of Insider Monkey held stakes worth $686 million in the firm, up from 22 in the preceding quarter worth $559 million.

In the said letter, Brown Advisory spoke about Cimarex Energy Co (NYSE:XEC) and Suncor Energy Inc (NYSE:SU) stocks.  Here is what Brown Advisory said:

“We eliminated our small holding in Cimarex Energy in favor of consolidating our oil-related investments by adding to existing holding Suncor Energy, which we believe is a stronger company to own with oil prices at a historic low.”