Billionaire Steve Cohen Is Buying These Energy Stocks

We’ll now take a brief look at two other energy stocks from Steven Cohen’s equity portfolio. In another recent 13G filing with the SEC, Steven Cohen disclosed the ownership of 2.25 million shares in Renewable Energy Group Inc. (NASDAQ:REGI), which represent 5.1% of the company’s outstanding common stock. Therefore, Point72 increased its position in this energy company by 1.91 million shares. The shares of Renewable Energy Group have skyrocketed recently, reaching an increase of over 22% year-to-date, after the release of the EPA proposal of the Renewable Fuel Standard mandate through 2016/17. Clint Carlson’s Carlson Capital is one of the largest shareholders in Renewable Energy Group Inc. (NASDAQ:REGI) from our database, owning nearly 4 million shares.

Furthermore, Point72 Asset Management initiated a long position in EQT Corporation (NYSE:EQT) during the first quarter. The hedge fund reported acquiring an equity stake of 2.28 million shares, which is valued at $188.96 million as of March 31, 2015. The company’s stock has risen by 8% since the beginning of 2015 and might keep increasing as the gas prices have recently been on an uptrend. Generally, warmer weather enhances the need for cooling. Hence, there is higher demand for natural gas for electric power plants. So, EQT Corporation is among the companies that can significantly benefit from higher natural gas prices. Within our database, Ken Griffin’s Citadel Investment Group is one of the largest investors in EQT Corporation (NYSE:EQT) with 1.81 million shares.

Disclosure: None