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DOW Acquires Minority Stake in HEH to Support Import Terminal
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Dow Inc. (DOW - Free Report) recently entered into a definitive agreement to take a minority stake in the Hanseatic Energy Hub GmbH (“HEH”). It is working with HEH's current members to boost Germany's capabilities to import supplies of liquified natural gas (“LNG”), bio-liquified natural gas and synthetic natural gas through the construction of an import terminal.
The HEH consortium now includes Dow, Fluxys, Partners Group and Buss Group. It intends to construct, own and run an import terminal for liquified gases on Dow's Stade, Germany industrial park. This zero-carbon emission terminal is expected to be constructed by 2026 and will be co-located with Dow's sites in Stade. Dow is contributing the land for building the terminal and infrastructure services, off-gas heat, site services and mutual harbor use rights.
The import terminal supports the Joint Statement between the European Commission and the United States on European Energy Security by meeting up to 15% of Germany's current natural gas demand with an anticipated regasification capacity of 13.3 billion cubic metres (bcm) of natural gas annually. The agreement would also enable the United States to meet roughly 25% of its goal to export 50 bcm of natural gas each year to Europe by 2030.
The project is subject to a final investment decision, which is likely by 2023.
Shares of Dow have dropped 1.6% in the past year compared with a 1.9% decline of the industry.
Image Source: Zacks Investment Research
In its last earnings call, Dow stated that it expects demand strength across its end markets to continue in 2022, aided by rising industrial production and sustained consumer spending. Dow also expects logistics issues to ease throughout this year to fulfill elevated order backlogs and pent-up customer demand. It will remain committed to making progress on its higher-return, lower-risk growth projects and efficiency programs, as well as advance its key sustainability actions to decarbonize its assets and capture higher demand for lower carbon and circular solutions, the company noted.
Dow currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are The Mosaic Company (MOS - Free Report) , AdvanSix Inc. (ASIX - Free Report) and Allegheny Technologies Incorporated (ATI - Free Report) .
Mosaic has a projected earnings growth rate of 131.2% for the current year. The Zacks Consensus Estimate for MOS' current-year earnings has been revised 32.7% upward in the past 60 days.
Mosaic’s earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing once. It delivered a trailing four-quarter earnings surprise of roughly 3.7%, on average. MOS has rallied around 126.4% in a year and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
AdvanSix has a projected earnings growth rate of 64.8% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised 58% upward in the past 60 days.
AdvanSix’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 23.6%. ASIX has surged 72.3% in a year. The company sports a Zacks Rank #1.
Allegheny, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 684.6% for the current year. The Zacks Consensus Estimate for ATI's earnings for the current year has been revised 20% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 127.2%. ATI has rallied around 22% over a year.
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DOW Acquires Minority Stake in HEH to Support Import Terminal
Dow Inc. (DOW - Free Report) recently entered into a definitive agreement to take a minority stake in the Hanseatic Energy Hub GmbH (“HEH”). It is working with HEH's current members to boost Germany's capabilities to import supplies of liquified natural gas (“LNG”), bio-liquified natural gas and synthetic natural gas through the construction of an import terminal.
The HEH consortium now includes Dow, Fluxys, Partners Group and Buss Group. It intends to construct, own and run an import terminal for liquified gases on Dow's Stade, Germany industrial park. This zero-carbon emission terminal is expected to be constructed by 2026 and will be co-located with Dow's sites in Stade. Dow is contributing the land for building the terminal and infrastructure services, off-gas heat, site services and mutual harbor use rights.
The import terminal supports the Joint Statement between the European Commission and the United States on European Energy Security by meeting up to 15% of Germany's current natural gas demand with an anticipated regasification capacity of 13.3 billion cubic metres (bcm) of natural gas annually. The agreement would also enable the United States to meet roughly 25% of its goal to export 50 bcm of natural gas each year to Europe by 2030.
The project is subject to a final investment decision, which is likely by 2023.
Shares of Dow have dropped 1.6% in the past year compared with a 1.9% decline of the industry.
Image Source: Zacks Investment Research
In its last earnings call, Dow stated that it expects demand strength across its end markets to continue in 2022, aided by rising industrial production and sustained consumer spending. Dow also expects logistics issues to ease throughout this year to fulfill elevated order backlogs and pent-up customer demand. It will remain committed to making progress on its higher-return, lower-risk growth projects and efficiency programs, as well as advance its key sustainability actions to decarbonize its assets and capture higher demand for lower carbon and circular solutions, the company noted.
Dow Inc. Price and Consensus
Dow Inc. price-consensus-chart | Dow Inc. Quote
Zacks Rank & Other Key Picks
Dow currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are The Mosaic Company (MOS - Free Report) , AdvanSix Inc. (ASIX - Free Report) and Allegheny Technologies Incorporated (ATI - Free Report) .
Mosaic has a projected earnings growth rate of 131.2% for the current year. The Zacks Consensus Estimate for MOS' current-year earnings has been revised 32.7% upward in the past 60 days.
Mosaic’s earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing once. It delivered a trailing four-quarter earnings surprise of roughly 3.7%, on average. MOS has rallied around 126.4% in a year and currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
AdvanSix has a projected earnings growth rate of 64.8% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised 58% upward in the past 60 days.
AdvanSix’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 23.6%. ASIX has surged 72.3% in a year. The company sports a Zacks Rank #1.
Allegheny, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 684.6% for the current year. The Zacks Consensus Estimate for ATI's earnings for the current year has been revised 20% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 127.2%. ATI has rallied around 22% over a year.