Name of opportunity: 👀
Equinor
Positive press: 🙌
Equinor recently extended its contract with Gasum, which it has been collaborating with since 2011. Gasum provides Equinor with LNG bunkering - so the energy company can fuel its ships with liquified natural gas, which is more environmentally friendly than traditional fuels like heavy fuel oil or marine gas oil. Equinor also recently secured a contract with the New York State Energy Research and Development Authority to partner on the delivery of the Empire Wind 1 offshore wind farm, which should be operational by 2026. Lastly, Equinor partnered with Seeq at the start of the month - the analytics and AI platform should help the energy company streamline and optimise its operations.
How hot is this investment opportunity? 🔥🔥🔥
Analysts predict the price of Equinor ASA will increase from $27.05 to $32.00 in the next 12 months. If you invested $1000, you might profit $182.99. The reason they think it could rise in value is because of its solid performance in the most recent quarter, in which it returned money to shareholders through a share buyback, grew its oil and gas operations and invested in renewable energy. Some analysts are also feeling encouraged by Equinor’s new contract on the wind farm - there is currently lots of discussion about how offshore wind could be one of America’s next major industries, creating thousands of jobs and contributing towards the country’s renewable energy goals.
Right now, Equinor provides a dividend yield of 11.08%, which is higher than many companies offer, making the energy company quite an appealing option for income investors. That’s the main reason analysts at sources like The Motley Fool are listing Equinor as a stock investors might like to add to their portfolio.
Energy: ⚡
Equinor is an international energy company headquartered in Stavanger, Norway. It operates in over 30 countries worldwide. Equinor works in the fields of oil and gas, renewables and low-carbon energy, and aims to become net-zero by 2050, reducing the emissions of greenhouse gases into the atmosphere. It was founded in 1972 by the Norwegian government as Statoil - as of 2023, Equinor employs 23,449 people.
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