Linde (LIN) Signs Major Renewable Energy Contracts in Brazil
Linde plc (LIN) announced that it has signed two major agreements in Brazil for the supply of renewable energy. The new agreements are expected to result in an increase of more than 60% in Linde's global active renewable energy.
In order to replace over half of its current power usage in Brazil, White Martins, a subsidiary of LIN, has signed agreements to source more than 2 million megawatt hours per year of renewable energy. The agreements back the company’s science-based absolute greenhouse gas reduction objective (by 2035) and its 2050 climate neutrality goal.
Linde's president for South Latin America, Gilney Bastos, stated that the company has clear climate targets, including a commitment to actively increase the use of renewable energy. He added that these agreements will not only lower the carbon intensity of LIN’s own operations, but also assist clients by providing them with industrial gases that have a lower carbon footprint. Per the company, the emissions avoided by its customers are more than twice the amount produced by its own operations.
According to the announcement, Linde has been added to CDP's A List for both climate change and water security. The company has also secured its place in the Dow Jones Sustainability World Index for 20 successive years.
Zacks Rank & Key Picks
Currently, Linde carries a Zack Rank #3 (Hold).
Some better-ranked stocks in the energy sector are Evolution Petroleum Corporation EPM, NGL Energy Partners LP NGL and Murphy USA MUSA. While Evolution Petroleum sports a Zacks Rank #1 (Strong Buy), both NGL Energy Partners and Murphy USA carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Evolution Petroleum is an independent energy company. It was formed to acquire and develop oil and gas fields and apply both conventional and specialized technology to accelerate production, particularly in low-permeability reservoirs. EPM has witnessed an upward earnings estimate revision for 2023 and 2024 in the past 60 days.
NGL Energy Partners, headquartered in Tulsa, OK, is a limited partnership operating a vertically-integrated propane business with three operating segments — retail propane, wholesale supply and marketing, and midstream. NGL has witnessed an upward earnings estimate revision for 2024 in the past 60 days.
Murphy USA operates stations close to Walmart supercenters and sells low-cost, high-volume fuel. This helps the company to get a lot more business than its competitors. Another significant competitive advantage for the firm is its access to product distribution centers and pipelines, which helps control costs in the intensely competitive retail sector. Over the past 30 days, MUSA has witnessed an upward earnings estimate revision for 2024.
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Linde PLC (LIN) : Free Stock Analysis Report
