Yahoo Finance Watch These 3 Energy Stocks Leading the Green Transition
The energy sector, as the leading contributor to global emissions, is pivotal in tackling the world’s climate challenge. However, reaching net zero emissions requires a fundamental transformation of the way energy is supplied to our daily lives.
Thus, there arises an urgent need to accelerate investment in clean energy sources such as solar and wind, while simultaneously increasing energy efficiency across various sectors. This dual approach is essential for reducing carbon emissions and combating climate change effectively.
Investors are advised to monitor three energy stocks, namely Eni SpA E, TotalEnergies SE TTE, and BP plc BP, as these are at the forefront of the energy transition and are capitalizing on favorable business conditions in both upstream and downstream operations.
While Eni currently carries a Zacks Rank #2 (Buy), TotalEnergies and BP carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3 Stocks Going Green
Eni, a leading integrated energy company, has a robust presence in both upstream and downstream operations. Additionally, the company is expanding its renewable energy capacity to support the energy transition and achieve carbon neutrality.
In Italy and globally, Eni is operating in areas like onshore and offshore wind, solar, energy storage and floating wind. Integrating the new solutions with conventional technologies, the company is expecting to offer more and more electricity to households and businesses from renewable sources. By 2035, the energy giant is aiming for more than 30 gigawatts of installed capacity from renewables.
TotalEnergies is also a leading energy company with a strong presence in upstream and downstream operations. Moreover, it is aiming to reach a gross installed renewable power generation capacity of 100 gigawatts by 2030. The company is enhancing its expertise in renewable energy, with a particular focus on solar power, to address the increasing demand for electricity. To spearhead the energy transition, TTE is also making significant investments in wind energy and holds a prominent position in both onshore and offshore wind sectors.
BP has been relying on profitable refining and marketing assets, along with key oil and gas projects that are either already operational or scheduled for completion this year or in the future. Notably, the British energy giant can sail through periods of low oil prices, banking on its sizable refining and marketing businesses.
The company has also set up an ambitious energy transition target. BP has been building a diversified portfolio of renewable energy, ranging from wind to solar. In offshore wind, BP ranks among the leading global players. By acquiring the remaining shares in Lightsource BP, the company has established itself as a developer and operator of utility-scale solar projects.
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BP p.l.c. (BP) : Free Stock Analysis Report
Eni SpA (E) : Free Stock Analysis Report
TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report
