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.
Shell (RDS.A) Eyes Eneco Buyout to Boost Renewables Business
Read MoreHide Full Article
In a bid to bolster renewable energy business, Royal Dutch Shell plc is contemplating the acquisition of sustainable energy provider Eneco. Notably, the Anglo-Dutch giant has teamed up with pension fund manager PGGM to place a joint bid for the Eneco buyout.
The move comes after the government-held Eneco announced its decision last month to be privatized via an auction. Eneco, which is valued by analysts at around $3.4 billion, is heavily invested in green energy projects and complements Shell’s New Energies division quite well.
The move is in sync with Shell’s intention to ramp up its renewable foothold. In fact, the company will invest up to $2 billion per year till 2020 in its New Energies division, which will also serve as a hedge for reduced gasoline and diesel fuel demand. The Zacks Rank #5 (Strong Sell) company believes that pumping money into the New Energies unit is likely to significantly increase its customer base and drive revenues. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In fact, Shell has been on an acquisition spree of late, having collaborated with IONITY, New Motion, First Utility, Silicon Ranch and Cleantech Solar, as it attempts to diversify its portfolio beyond oil and gas. With renewable energy becoming affordable, the oil conglomerate sees immense potential in developing projects like hydrogen fuel-cells, alternative energies, liquefied natural gas and next-generation biofuels. Shell’s New Energies division has also made investments in U.S. thermal storage specialist Axiom Energy, microgrids and distributed energy services player GI Energy, hydrogen compression specialist HyET, as well as German home storage developer Sonnen.
In fact, amid climate change concerns, other big oil companies like TOTAL SA , Equinor ASA (EQNR - Free Report) , BP plc (BP - Free Report) , Exxon Mobil Corporation and Chevron Corporation have also started reorienting their strategies to de-carbonize the energy system via increasingly shifting to alternative fuels.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Shell (RDS.A) Eyes Eneco Buyout to Boost Renewables Business
In a bid to bolster renewable energy business, Royal Dutch Shell plc is contemplating the acquisition of sustainable energy provider Eneco. Notably, the Anglo-Dutch giant has teamed up with pension fund manager PGGM to place a joint bid for the Eneco buyout.
The move comes after the government-held Eneco announced its decision last month to be privatized via an auction. Eneco, which is valued by analysts at around $3.4 billion, is heavily invested in green energy projects and complements Shell’s New Energies division quite well.
The move is in sync with Shell’s intention to ramp up its renewable foothold. In fact, the company will invest up to $2 billion per year till 2020 in its New Energies division, which will also serve as a hedge for reduced gasoline and diesel fuel demand. The Zacks Rank #5 (Strong Sell) company believes that pumping money into the New Energies unit is likely to significantly increase its customer base and drive revenues. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In fact, Shell has been on an acquisition spree of late, having collaborated with IONITY, New Motion, First Utility, Silicon Ranch and Cleantech Solar, as it attempts to diversify its portfolio beyond oil and gas. With renewable energy becoming affordable, the oil conglomerate sees immense potential in developing projects like hydrogen fuel-cells, alternative energies, liquefied natural gas and next-generation biofuels. Shell’s New Energies division has also made investments in U.S. thermal storage specialist Axiom Energy, microgrids and distributed energy services player GI Energy, hydrogen compression specialist HyET, as well as German home storage developer Sonnen.
In fact, amid climate change concerns, other big oil companies like TOTAL SA , Equinor ASA (EQNR - Free Report) , BP plc (BP - Free Report) , Exxon Mobil Corporation and Chevron Corporation have also started reorienting their strategies to de-carbonize the energy system via increasingly shifting to alternative fuels.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>