Cleantech stocks, which used to occupy an exceedingly small position in investors’ portfolios a few years ago, are gradually becoming the most popular bets thanks to the global clean energy revolution that has gained pace this year. As the cost of storing renewable energy has fallen significantly, the cleantech space is expected to witness significant demand in the coming years…
By 2040, solar energy is expected to be 5 times cheaper than fossil fuel electricity.
Rising concerns globally about climate change have led governments to implement initiatives to replace traditional energy with sustainable clean energy. China, for instance, has pledged to go carbon neutral by 2060. While according to the European Green Deal, the European Union aims to be carbon neutral by 2050.
U.S. President-elect Joe Biden is expected to re-join the Paris Climate Accord next year. Moreover, a$900 billion coronavirus relief package just approved by the U.S. Congress includes billions of dollars to promote clean energy and extends tax incentives for wind and solar energy.
Given this backdrop, while the majority of cleantech stocks have already attracted significant attention from investors, some promising stocks are still under the radar. Equinor ASA (EQNR – Get Rating), Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI – Get Rating), and DAQO New Energy Corp. (DQ – Get Rating) are three stocks that fit this description we think and are expected to gain significantly in 2021 and beyond.
Equinor ASA (EQNR – Get Rating)
Based in Stavanger, Norway, EQNR is an international energy company present in more than 30 countries worldwide. Among the world’s largest offshore operators, the company is engaged in the exploration, development and production of oil and gas, and wind and solar power. EQNR operates primarily through four segments — Development and Production Norway (DPN), Development and Production International (DPI), Marketing, Midstream and Processing (MMP) and Other.
For the third quarter ended September 30, 2020, the company delivered solid operational results with an underlying production growth of 9% year-over-year. Its total revenues and other income have increased more than 49% sequentially to $11.3 billion. Total entitlement liquids and gas production have increased 6.9% year-over-year to 1,865 mboe per day. And in the exploration and production Norway segment, average daily production of liquids and gas has increased 19% year-over-year to 1,273 mboe per day, driven primarily by a ramp-up of new fields.
The consensus EPS estimate of $1.11 for the quarter ending December 31, 2021 represents a 99.3% increase year-over-year. The consensus revenue estimate of $54.87 billion for the same quarter ending December 1, 2021 represents a…
Continue reading at STOCKNEWS.com