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S&P Global (SPGI) Launches U.S. Renewable Diesel Values

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Shares of S&P Global Inc. (SPGI - Free Report) have gained 24.2% over the past year, significantly outperforming the 3.1% rally the industry it belongs to and 18.3% growth of the Zacks S&P 500 composite. The company’s Platts division recently announced the launch of renewable diesel values for the United States.

Notably, Platts operates as an independent provider of information and benchmark prices for the commodity and energy markets. It specializes in offering essential price data, analytics and industry insight. Its revenues rose 5% to $222 million in the third quarter of 2020.

Named Platts U.S. West Coast RD, the assessments are aimed at bringing transparency to the renewable energy market, which is expected to see exponential growth in the future. This is because interest in renewable fuels is growing across transportation markets due to transition to lower carbon fuels.

Notably, cost-based methodology will be computed by S&P Global Platts Analytics on the basis of existing Platts assessments and other fixed costs as physical market trading for renewable diesel does not support spot price assessments.

"Renewable diesel has never been more relevant to the US market given the ongoing transition to lower carbon intensity fuels,” said Ian Dudden, global pricing director, metals and agriculture, S&P Global Platts.

Zacks Rank and Stocks to Consider

S&P Global currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are Republic Services (RSG - Free Report) , Gartner (IT - Free Report) and Insperity (NSP - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Long-term earnings (three to five years) growth rate for Republic Services, Gartner and Insperity is estimated at 9.4%, 13.5% and 15%, respectively.

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S&P Global Inc. (SPGI) - free report >>