Renewable Energy Group Inc – Best Energy Stocks
Energy stocks have been the talking point these days. Oil prices are making new highs. Natural gas prices in Europe are also causing plenty of headaches for political leaders. Recently, there has been a surge in demand for power, and coal prices have also increased significantly. Oil recently broke out after a 7-year consolidation. Investors are on the lookout for energy stocks to buy. While fossil fuels still account for a large proportion of the world’s energy source, renewable energy is making steady inroads. The Paris Climate Agreement, as well as greater awareness about sustainability, is leading to a grassroots as well as a political push towards clean energy. So, if you are looking to invest in energy businesses, then it may help to look at renewable energy companies. They may end up becoming decent long-term bets.
Renewable Energy Group – A Biodiesel Company
Renewable Energy Group is a biodiesel producer based out of Iowa. The company has 13 biorefineries and a feedstock processing facility. The push towards reducing carbon emissions is driving the shift from petroleum diesel to biodiesel and low carbon alternative fuels. So, the demand for biodiesel is poised to grow. As a result, the long-term prospects of the company appear to be bright. While the official founding date of the company is 2006, the business was in existence much before 2006. In fact, the origins of Renewable Energy Group can be traced back to 1996, when it was the biodiesel division of the West Central Cooperative. Renewable Energy Group eventually separated from the West Central Cooperative and established its headquarters in Ames, Iowa. It then made acquisitions in 2013 and 2015 to build up the scale that it now has. Renewable Energy Group might just turn out to be one of the best energy stocks if biodiesel picks up.
Energy Stocks To Buy
Renewable Energy Group trades on the Nasdaq exchange under the ticker symbol REGI. The stock closed at $53 on October 15th 2021. Over the 30 days from September 15th, 2021, to October 15th, 2021, the stock was up about 11%. The P/E ratio of Renewable Energy Group’s stock was close to 15.4 as of October 15th 2021.