|Bid||11.20 x 1800|
|Ask||11.62 x 1400|
|Day's Range||10.42 - 11.72|
|52 Week Range||9.90 - 32.52|
|Beta (3Y Monthly)||0.90|
|PE Ratio (TTM)||15.64|
|Earnings Date||May 4, 2017 - May 5, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||27.25|
(Bloomberg) -- President Donald Trump, seeking to tamp down political fallout in U.S. farm states essential to his re-election, has ordered federal agencies to shift course on relieving some oil refineries of requirements to use biofuel such as corn-based ethanol.Trump and top cabinet leaders decided late Thursday they wouldn’t make changes to just-issued waivers that allow small refineries to ignore the mandates, but agreed to start boosting biofuel-blending quotas to make up for expected exemptions beginning in 2021. The outcome was described by four people familiar with the matter who asked not to be named before a formal announcement could be made.The decision was reached after a flurry of White House meetings this week on the issue, which divides two of Trump’s top political constituencies: rural Americans and the oil industry. With the move, Trump is largely siding with farmers, ethanol producers and political leaders in Iowa that have accused the president of turning his back on the industry.But the administration’s shift risks blowback in Pennsylvania and other battleground states, where blue-collar refinery workers have held rallies to push for relief from U.S. biofuel quotas they say are too expensive. The largest coalition of U.S. building trades unions on Thursday warned Trump that changing course on exemptions would betray the president’s “campaign promise to protect every manufacturing job.” Encouraging E15“President Trump is committed to ensuring our country not only continues to be the agricultural envy of the world, but also remains energy independent and secure,” White House spokesman Judd Deere said.Iowa-based biodiesel producer Renewable Energy Group Inc. climbed as much as 4.5% on the news, and traded up 5.5% to $11.64 at 1:50 p.m. in New York. Pacific Ethanol Inc. and Green Plains Inc. briefly gained before resuming losses as the U.S.-China trade war showed signs of deepening with the latter announcing plans to levy additional tariffs on American-made goods and Trump promising to respond.Administration officials agreed to the broad contours of a renewable fuel plan, including further moves to encourage the use of E15 gasoline containing 15% ethanol, beyond the 10% variety common across the U.S. E15 could be dispensed alongside conventional ethanol blends at filling stations, under the drafted changes.EPA’s PlanUnder the tentative plan, the Environmental Protection Agency also will give a 500-million-gallon boost to the amount of conventional renewable fuel, such as ethanol, that must be used in 2020. A separate quota for biodiesel, typically made from soybeans, would get a 250 million gallon increase.Additionally, the administration will enhance a program meant to expand U.S. fueling infrastructure and get more ethanol into the system. The EPA will adopt an Agriculture Department assessment of the greenhouse gas emissions associated with renewable fuel, and will expand environmental credits encouraging automakers to produce “flex-fuel” vehicles that can run on high-ethanol gasoline. Iowa BacklashThe EPA has drawn intense criticism for its Aug. 9 decision to exempt 31 refineries from 2018 biofuel-blending requirements. Although federal law authorizes the waivers for small refineries facing an economic hardship, the number of those exemptions has surged during the Trump administration, and biofuel producers say they are being handed out too freely.The backlash has been most severe in Iowa, the nation’s top producer of ethanol and the corn used in its manufacture. It is also critical for Trump’s re-election; the state twice voted for Barack Obama before voting to send Trump to the White House in 2016.Trump’s Democratic challengers have seized on the issue, with frontrunner Joe Biden accusing the president of lying to farmers and abandoning a campaign promise to “unleash ethanol.” However, EPA officials and oil industry leaders say the waivers haven’t harmed domestic ethanol demand and blame a glut of the product for suppressing prices. Trump’s trade war with China has exacerbated the industry’s economic challenges. As with U.S.-grown agricultural products, including soybeans, ethanol faces retaliatory tariffs in China. Latest BlowAgainst the backdrop of tariffs, the exemptions delivered another blow to the U.S. Midwest, where guaranteed domestic ethanol demand helps provide a floor of support for corn farmers and buttresses swings in commodity prices. Ethanol refining accounts for about 40% of U.S. corn consumption.American “agriculture has a problem if ethanol doesn’t do well,” Green Plains Inc. chief executive officer Todd Becker said in a telephone interview on Thursday. The Omaha, Nebraska-based company created a political action committee last month, and Becker told analysts in May that Green Plains plans to “engage” 2020 U.S. presidential candidates on ethanol policies. Becker said he “can’t fault” Trump for getting tough on China, but the combination of the trade war and small refinery exemptions was causing too much pain. “You don’t fight China and then give out SREs,” Becker said. “Farmers are furious now.”Biofuel QuotasAgriculture Secretary Sonny Perdue had urged the White House to rescind some of the recently issued waivers -- at least those for refineries tied to “big” oil companies -- according to an Aug. 20 memo obtained by Bloomberg.EPA officials successfully argued that would be illegal.Instead, Trump directed the agency to increase biofuel quotas to make up for the exemptions, a so-called “reallocation” that will effectively boost the burden for larger refineries that are not eligible to win waivers. The EPA will start incorporating expected exemptions into annual biofuel quotas beginning with 2021.Oil industry leaders blasted the tentative agreement on Friday, saying it would do little for U.S. farmers while hurting domestic refiners.“Reallocation would be a major hit to fuel manufacturers in Pennsylvania and Ohio -- and refinery workers across the country -- with zero benefit to ethanol,” said Derrick Morgan, a senior vice president with the American Fuel and Petrochemical Manufacturers. “Those celebrating will ultimately be foreign biofuel producers whose biodiesel is being imported to help meet mandates.” ‘Arbitrary’ PolicyThe EPA typically sets each year’s biofuel blending requirements by Nov. 30 of the preceding year, except for biodiesel quotas, which are set two years in advance. Under the U.S. Renewable Fuel Standard program, there’s a specific mandate for biodiesel, but the soybean-based product can also be used to satisfy an implied 15 billion gallon quota for conventional renewable fuel.Frank Macchiarola, a vice president at the American Petroleum Institute, called the drafted plan a “rushed, arbitrary policy.”“We hope the administration walks back from the brink of a disastrous political decision that punishes American drivers,” Macchiarola said. “Bad policy is bad politics.”Although the tentative plan was meant to assuage biofuel allies, it’s not clear it was having the intended effect Friday, amid industry skepticism the EPA will follow through on the agreement. Iowa officials are preparing to visit Washington for a formal rollout of the policy changes.Biodiesel industry advocates say they can produce more fuel -- and the Trump administration needs to take that into account.“With a level playing field in biodiesel trade in 2018, domestic producers increased output by several hundred million gallons,” said National Biodiesel Board spokesman Paul Winters. “We can continue to do so -- as long as EPA stops using RFS waivers to destroy demand and put biodiesel producers out of business.” (Updates with more details on tentative plan from ninth paragraph.)\--With assistance from Jennifer Jacobs.To contact the reporters on this story: Jennifer A. Dlouhy in Washington at firstname.lastname@example.org;Mario Parker in Chicago at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, Elizabeth Wasserman, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Top Trump administration officials met Thursday to consider options for quelling a backlash in politically important farm states over recent biofuel policy moves, including revoking waivers given to some oil refineries from requirements they use renewable fuel such as corn-based ethanol.The Agriculture Department pushed that idea in the meeting and in a memo explicitly outlining options for President Donald Trump amid intense opposition from the Environmental Protection Agency, which administers the program that mandates biofuel. Thursday’s meeting follows a flurry of White House conversations this week on the issue, according to people familiar with the deliberations who asked not to be named before any formal announcement.After Bloomberg reported the news, biodiesel maker Renewable Energy Group Inc. surged as much as 7%, the steepest gain in two months, while U.S. ethanol producer Green Plains Inc. climbed as much as 3.6%. Corn futures also advanced. Gasoline futures fell for the first time in a week.The administration is trying to blunt anger in Iowa and other states critical to the president’s re-election, as Trump’s political allies in the Midwest blast the EPA’s Aug. 9 decision to waive 31 oil refineries from 2018 quotas encouraging the use of ethanol and soybean-based biodiesel. But any shift to favor agricultural interests over oil companies could also have political implications in Pennsylvania and other campaign battleground states, by angering blue-collar refinery workers and oil industry benefactors.‘Regain Support’In Thursday’s meeting, administration officials discussed a series of possible policy changes that had been outlined by Agriculture Secretary Sonny Perdue in an Aug. 20 memo obtained by Bloomberg. “By taking decisive action now,” Perdue said in the memo, “I believe we can regain support among farmers and the biofuel industry.”Perdue recommended rescinding some of the oil-refinery exemptions that had been granted to “big” companies -- about seven to eight of the recent batch of 31 -- despite warnings from top EPA officials the revocations could be illegal.The Agriculture Department, which didn’t immediately respond to a requests for comment, also recommended reallocating some of the biofuel quotas that were waived and that are expected, beginning with a final regulation setting biofuel targets for 2020, expected by Nov. 30.The agency also is seeking a formal role in dictating the targets for the next two years and helping shape the future of the Renewable Fuel Standard, the 2005 law that compels refiners to use biofuel.The White House was already reviewing a drafted EPA “RFS reset” rule that did not make broad changes to the program, but Perdue described it as “negative toward biofuels and contrary” to the president’s “stated support” for the law. That regulation could be a vehicle for more ambitious biofuel-blending requirements.The EPA also should take steps to speed the adoption of E15 gasoline that contains 15% ethanol, Perdue said, and encourage flex-fuel vehicles that can run on an 85% blend.Refinery RisksAs top Trump administration officials weighed options this week, oil companies and their congressional allies made the case that any shift could alienate refinery workers and voters in swing states the president won in 2016.Rescinding the waivers is “likely to inflict far more political damage given the likely reaction of unions, political supporters and businesses in key battleground states like Pennsylvania and even Texas,” Scott Segal, a Bracewell lobbyist who works with refiners, said late Wednesday.Federal law authorizes the EPA to issue exemptions waiving refineries from RFS mandates in cases of economic hardship. But ethanol and biodiesel producers say the Trump administration has handed out those waivers too freely, hurting demand for their products, amid a trade dispute with China that has already caused economic pain.EPA officials and refiners dispute that waivers have hurt domestic ethanol demand. Agricultural economist Scott Irwin asserted Thursday that the rate at which ethanol has been blended into gasoline has not fallen, though he said exemptions have hurt demand for E85 and E15.(Updates with details of Perdue memo from fifth paragraph)\--With assistance from Jennifer Jacobs.To contact the reporters on this story: Jennifer A. Dlouhy in Washington at email@example.com;Mario Parker in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: Jon Morgan at email@example.com, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Higher input costs and lower selling prices weighed on the business throughout the first half of 2019. Can the biodiesel leader weather the storm?
Editor's note: This story was previously published in June 2019. It has since been updated and republished.The 2020 Olympic Summer Games are to be held in Tokyo, Japan. The organizers are planning to power the events with 100% renewable energy, which is great news for renewable energy stocks.Not only will the facilities where the sporting events are to take place to be powered exclusively by solar and wind power, so, too, will the athletes' village, international broadcasting center and press facilities. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt's an unprecedented undertaking that will highlight the decarbonization of Japan, providing a view into a future fully powered without fossil fuels. * 8 Dividend Aristocrat Stocks to Buy Now No Matter What The city of Tokyo plans to generate 30% of its annual power consumption needs through renewable energy sources that include solar roads -- already installed on highways in France -- across the city by 2030. The following seven renewable energy stocks to buy will benefit from the publicity generated at the 2020 Olympic Games.However, that's nearly two years from now. Here's why each of them makes very compelling investments today: NextEra Energy (NEE)Not only is NextEra Energy (NYSE:NEE) the world's largest utility, it's also the largest producer of wind and solar energy anywhere on the planet, making it one of the best renewable energy stocks to buy for the long haul. Source: Shutterstock Many people probably know NextEra because of its Florida Power and Light subsidiary that serves more than five million Floridians and is one of the largest rate-regulated electric utilities in the U.S.However, it is the subsidiary NextEra Energy Resources that is paving the way for future shareholders gains. It owns 120 wind facilities in North America that generate 13,000 megawatts of energy annually. It also generates more than 2,000 megawatts of solar power from facilities in seven states and Canada, along with natural gas-fired and nuclear power plants that deliver additional power generation.However, it is the company's views on diversity that makes it an excellent long-term investment. I'm not much of a fan of investing in utilities, but NextEra Energy's definitely got me very intrigued. Brookfield Renewable Partners (BEP)Brookfield Renewable Partners (NYSE:BEP) announced that it had increased its ownership (with partners) of TerraForm Power (NASDAQ:TERP) from 51% to 65% by purchasing an additional 61 million shares in a private placement. The investment will add $80 million annually to Brookfield Renewable's funds from operations, making it one of the really smart stocks to buy to get into solar. Source: Shutterstock TerraForm Power generates 3,634 megawatts of solar and wind power around the globe with 65% right here in the U.S., another 26% in Europe, and the remainder from facilities in Canada, Chile and Uruguay. Brookfield Renewable worldwide has 843 renewable power facilities in North America, Latin America and Europe capable of producing 16,300 megawatts of power annually.In North America alone, its renewable energy facilities generate enough electricity to power 2 million homes. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates If you want to own more than renewable energy assets, you might consider Brookfield Asset Management (NYSE:BAM) which owns 61% of BEP and is one of the world's largest alternative asset managers. If I could only own one company's stock, Brookfield Asset Management would be at the top of my list. TransAlta (TAC) Like Brookfield Renewable, it could be more attractive to U.S. investors to choose TransAlta Corporation (NYSE:TAC) as a one of the best renewable energy stocks to buy rather than its 64%-owned renewable energy subsidiary TransAlta Renewables (TSE:RNW), which trades on the Toronto Stock Exchange. Source: russellstreet via FlickrTransAlta Renewables pays approximately CAD 150 million in dividends annually to its parent from the free cash flow generated from wind-power facilities in the U.S. and Canada. These facilities have the capacity to produce 1,248 megawatts of power and 49% of its annual cash flow along with natural gas-fired power generation that delivers 47% of its annual cash flow with hydroelectric facilities providing the rest. TransAlta Renewables is in the process of strengthening its balance sheet. Over the past two years, it has cut CAD$900 million of its debt, which should result in the company's free cash flow doubling over the next three years. The company currently pays a 1.95% monthly dividend, so by buying the parent, you're giving yourself a little more safety but a much lower dividend yield. Although there are risks to owning Canada's largest generator of wind power, if you're an aggressive investor, I'd go with RNW. Enviva (EVA)This is probably the least sexy renewable energy stocks to buy in the sector, but Enviva Partners (NYSE:EVA) is a good one nonetheless.Source: Alternative Heat via FlickrEviva is the world's largest producer of wood pellets, producing over three million metric tons each year from seven plants in the Southeastern part of the U.S. The pellets themselves are sold to utilities in the U.K. and Europe that use them in place of coal to produce a cleaner electricity source. * 10 Cyclical Stocks to Buy (or Sell) Now Thanks to wood pellet businesses in the south like Enviva, greenhouse gas emissions have been reduced (PDF), forests are growing and jobs have been created, providing a trio of benefits that are hard to beat.Enviva has long-term supply contracts that provide stable cash flows. If you're an income investor, Enviva is a very safe way to meet your annual income requirements. Renewable Energy Group (REGI)Renewable Energy Group (NASDAQ:REGI) is another simple yet attractive business turning vegetable oils and animal fats into diesel fuel. Whenever you see one of those trucks sucking out the grease traps at a restaurant, it's going to one of Renewable Energy's 13 biomass refineries to be turned into diesel fuel. The company has the capacity to produce 575 million gallons of diesel fuel annually, 70% of which is sold to major travel centers and fuel marketers.The demand for biodiesel is tremendous. California, Texas, New York and seven other states bought 1.5 billion gallons of the stuff in 2018, up from 1.15 billion in 2016. To be clear, REGI has really struggled so far this year, losing more than 50%, but I believe it has got room to move into the $30s on rising demand. TPI Composites (TPIC)What is one of the main ingredients needed for wind power? Wind, of course, but you also need turbine blades to generate that power. TPI Composites (NASDAQ:TPIC) is the largest independent manufacturer of composite wind blades for turbine manufacturers. It has facilities in North America, Europe and Asia and is one of those stocks to buy for an alternate position on renewables. Source: Susann Nilsson via FlickrAlthough its major business is providing wind blades for turbines, the company is working to diversify its revenue streams. Last year, it announced a joint development agreement with Navistar International (NYSE:NAV) to develop a composite tractor and frame rails for a Class 8 truck. * 10 Generation Z Stocks to Buy Long The project brings the company's strategic development plans into a new area outside of its core market providing investors with promising future growth.For all of 2019, analysts on average expect TPI Composites' revenue to reach $1.5 billion for the first time in the company's history. With margins moving higher, the profits will follow. Siemens (SIEGY)This last one gives you exposure to a global industrial player in Siemens (OTCMKTS:SIEGY) which, amongst its many ventures, owns 59% of Siemens Gamesa Renewable Energy (OTCMKTS:GCTAF), the world's largest producer of wind turbines and one of the interesting renewable stocks to buy without going all in on renewables. Source: FlickrSiemens Gamesa sells its turbines to both onshore and offshore wind farms around the world. In Norway alone, Siemens Gamesa's turbines provide more than 500 megawatts of power with another 390 megawatts under installation. It has a total installed base of 85 gigawatts of power generated from its wind turbines. As of this writing, Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 High-Yielding Dividend Stocks That Won't Wilt * 4 Energy Stocks Soaring as Trump Tightens on Iran * 7 Tech Stocks With Too Much Risk, Not Enough Upside The post 7 Renewable Energy Stocks to Buy for Sunny Long-Term Returns appeared first on InvestorPlace.
Renewable Energy Group (REGI) delivered earnings and revenue surprises of -155.93% and -2.15%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll look at...
Renewable Energy Group (REGI) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Renewable Energy Group, Inc. (REGI) the nation’s leading advanced biofuel producer, today celebrated the grand opening of the company’s first diesel fueling station in Seneca, Illinois. Diesel customers from trucking fleets to local diesel vehicle owners will be able to fill up with biodiesel blended fuel to conveniently reduce harmful greenhouse gas emissions. “This diesel fueling station is another example of how REG is moving fuel forward by expanding our capabilities,” said Cynthia J. Warner, REG President & CEO.
We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is...
Renewable Energy Group (REGI) has launched a new website, regi.com, that includes hundreds of resources about cleaner fuels like biodiesel and renewable diesel, offering a wealth of information to people wanting to learn more about emission-cutting fuels and the nation’s largest biodiesel producer. “For more than 20 years, REG has been transforming renewable resources into cleaner fuels to meet the growing global demand for low-carbon fuel solutions for transportation markets,” said Gary Haer, Vice President, Sales & Marketing at REG. This library serves as a centralized location for visitors to learn about the environmental, performance, and financial benefits of biodiesel, renewable diesel, and other fuels from an authoritative source in the industry.
Hedge funds are known to underperform the bull markets but that's not because they are bad at investing. Truth be told, most hedge fund managers and other smaller players within this industry are very smart and skilled investors. Of course, they may also make wrong bets in some instances, but no one knows what the […]
Genomatica, a technology leader for bio-based chemicals, announced it has acquired certain assets of the REG Life Sciences division (REG LS) of Renewable Energy Group, Inc. (REGI), the largest supplier of advanced biofuels in North America. Genomatica intends to use these assets to develop a wider range of sustainable chemicals which in turn are used to make numerous everyday materials and products. The asset acquisition provides Genomatica with its third major product platform, allowing it to expand into household and industrial cleaning products, and flavors and fragrances, further growing its ingredients for the apparel, packaging and personal care markets.
Renewable Energy Group, Inc. (REGI) announced today that it completed the sale of substantially all assets of REG Life Sciences’ to Genomatica on May 29, 2019. “We are pleased to be selling our Life Sciences’ assets to Genomatica, who are well positioned to build upon the technical progress we have made, and to advance the team and the technology through to commercialization,” said REG’s CEO Cynthia J. Warner.
The last three months have been tough on Renewable Energy Group, Inc. (NASDAQ:REGI) shareholders, who have seen the...