Former Vice President Joe Biden appears to be well ahead of President Donald Trump in the 2020 race for the White House. RealClearPolitics' average of national polls shows Biden with a 9.6-point lead over Trump. Biden is also winning in the latest polls in several key swing states that are critical to Electoral College victory. Even GOP pollster Frank Luntz thinks the presidential race is "Joe Biden's to lose." 

Who wins the presidency is important to investors because the candidates have different priorities. If you think Joe Biden will defeat Donald Trump in November, here are three great stocks to buy.

Joe Biden with an American flag in the background

Image source: WhiteHouse.gov

1. Renewable energy: Brookfield Renewable Partners

Joe Biden wants to put the U.S. on track to achieve "a 100% clean energy economy" by 2050 at the latest. To accomplish this, he plans to sign executive orders and push for Congress to pass legislation that establishes milestones for meeting key clean energy goals by 2025 if he's elected as president. 

Renewable energy stocks could be big winners under a Biden presidency. Brookfield Renewable Partners (NYSE:BEP) stands out as one stock positioned to perform especially well. Roughly three-quarters of the company's funds from operations (FFO) comes from its hydroelectric facilities. However, Brookfield also owns solar and wind power generation operations. Its pending acquisition of Terraform will give it an even bigger presence in these arenas.

Brookfield Renewable's goal is to generate total returns of between 12% and 15% annually. These returns include the company's attractive dividend, which currently yields nearly 4.4%. I think Brookfield should be able to surpass its goal if Biden takes residency in the White House in 2021.

2. Infrastructure: Vulcan Materials

One of Biden's top campaign promises is to "revitalize America's infrastructure". He wants to spend $1.3 trillion over a 10-year period on infrastructure projects. At the top of his list is repairing highways, roads, and bridges. Biden also wants to upgrade airports, rail infrastructure, and ports, as well as modernize schools across the country.

These infrastructure initiatives would almost certainly boost sales for Vulcan Materials (NYSE:VMC). The company ranks as the largest U.S. producer of construction aggregates such as crushed stone, sand, and gravel and is one of the top producers of construction materials including asphalt and ready-mixed concrete. 

The states in which Vulcan operates are poised to generate 72% of the total U.S. population growth this decade. Nineteen of the 25 fastest-growing markets in the U.S. are served by Vulcan's operations. It makes sense that these areas will be a primary focus of federal infrastructure initiatives. 

3. Healthcare: UnitedHealth Group

Unsurprisingly, another major focus for a Biden administration would be healthcare. Biden was a champion for the Affordable Care Act (ACA) when he was vice president. If he becomes president, Biden wants to protect and build upon the ACA, including giving Americans the option to buy a public health insurance plan similar to Medicare.

Such prospects could be music to the ears of UnitedHealth Group (NYSE:UNH). The nation's largest health insurer benefited tremendously when the ACA was first enacted. Nearly 28% of UnitedHealth's revenue currently stems from its Medicare programs, including Medicare Advantage, Medicare supplement, and Medicare Part D prescription drug plans. 

Other aspects of Joe Biden's platform could also help UnitedHealth Group. His plans to lower prescription drug prices and promote the development of generic drugs would likely reduce the company's expenses.

But what if President Trump is re-elected?

The U.S. presidential election is still four months away, though. That's a long enough time that the political winds could change. It's still quite possible that Joe Biden's current lead could evaporate. How would these three stocks perform if President Trump is re-elected? Probably quite well.

Brookfield Renewable Partners appears to be in a good position to deliver strong total returns whichever candidate wins the presidency. Several key U.S. states along with major countries have renewable energy goals that work to the company's benefit. 

It's a similar story for Vulcan Materials. Like Joe Biden, President Trump says that he wants a major infrastructure effort and is reportedly considering proposing spending close to $1 trillion. 

UnitedHealth Group probably wouldn't fare quite as well in a second Trump term as it would in a Biden administration. However, the health insurance stock has soared more than 80% since President Trump took office.

The bottom line is that if you think Joe Biden will defeat Donald Trump in November, Brookfield Energy Partners, Vulcan Materials, and UnitedHealth Group should be pretty good bets. And even if you're wrong, all three stocks still have solid prospects.