We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Repsol (REPYY) to Obtain Hecate Energy Shares to Boost Renewables
Read MoreHide Full Article
Repsol SA (REPYY - Free Report) entered an agreement with U.S.-based Hecate Energy to acquire the latter’s 40% stakes. Notably, this isthe Spanish energy major Repsol's foray into the U.S. renewable market and the second market to enter as part of its plans to expand the renewable business.
Hecate Energy is a leading developer of large-scale renewable energy projects and storage solutions in strategic locations of North America and international markets. The company owns a portfolio of more than 40 gigawatts (“GW”) of renewable projects. Of the total capacity, 16.8 GW are solar photovoltaic and storage projects at advanced stages of development.
Per the terms of the deal, Repsol will be able to acquire the remaining shares of Hecate Energy three years after the transaction closes. Once the deal's conditions are satisfied, the oil major will become a developer and future operator of renewable projects in the United States in a business-friendly environment.
The transaction indicates significant progress toward Repsol’s aim to achieve low-emission generation capacity and to transform itself into a net-zero emission company as per the company's 2021-2025 Strategic Plan. The deal supports Repsol’s plan to accelerate the renewable generation capacity from 1 GW of hydropower and wind capacity to 15 GW by 2030.
Notably, Repsol is engaged in negotiations with potential partners to invest in its renewable business as the transition from fossil fuels to clean energy gains momentum.
Company Profile & Price Performance
Headquartered in Madrid, Spain, Repsol is an integrated energy company, which advocates energy transition.
Shares of the company have outperformed the industry in the past six months. Its stock has gained 47.1% compared with the industry’s 32.7% growth.
Zacks Rank & Stocks to Consider
The company currently carries a Zack Rank #3 (Hold).
Over the past 60 days, the Zacks Consensus Estimate for Continental Resources’ 2021 earnings has been raised by 52.4%, while that for Petrobras has been increased by 55.4%.
Sasol’s earnings for 2021 are expected to increase 81.5% year over year.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Image: Bigstock
Repsol (REPYY) to Obtain Hecate Energy Shares to Boost Renewables
Repsol SA (REPYY - Free Report) entered an agreement with U.S.-based Hecate Energy to acquire the latter’s 40% stakes. Notably, this isthe Spanish energy major Repsol's foray into the U.S. renewable market and the second market to enter as part of its plans to expand the renewable business.
Hecate Energy is a leading developer of large-scale renewable energy projects and storage solutions in strategic locations of North America and international markets. The company owns a portfolio of more than 40 gigawatts (“GW”) of renewable projects. Of the total capacity, 16.8 GW are solar photovoltaic and storage projects at advanced stages of development.
Per the terms of the deal, Repsol will be able to acquire the remaining shares of Hecate Energy three years after the transaction closes. Once the deal's conditions are satisfied, the oil major will become a developer and future operator of renewable projects in the United States in a business-friendly environment.
The transaction indicates significant progress toward Repsol’s aim to achieve low-emission generation capacity and to transform itself into a net-zero emission company as per the company's 2021-2025 Strategic Plan. The deal supports Repsol’s plan to accelerate the renewable generation capacity from 1 GW of hydropower and wind capacity to 15 GW by 2030.
Notably, Repsol is engaged in negotiations with potential partners to invest in its renewable business as the transition from fossil fuels to clean energy gains momentum.
Company Profile & Price Performance
Headquartered in Madrid, Spain, Repsol is an integrated energy company, which advocates energy transition.
Shares of the company have outperformed the industry in the past six months. Its stock has gained 47.1% compared with the industry’s 32.7% growth.
Zacks Rank & Stocks to Consider
The company currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are Continental Resources, Inc. , Petrobras (PBR - Free Report) and Sasol Ltd. (SSL - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, the Zacks Consensus Estimate for Continental Resources’ 2021 earnings has been raised by 52.4%, while that for Petrobras has been increased by 55.4%.
Sasol’s earnings for 2021 are expected to increase 81.5% year over year.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>