Repsol makes first foray into U.S. renewables market in Hecate deal

  • Repsol (OTCQX:REPYF, OTCQX:REPYY) agrees to acquire a 40% stake in U.S. solar and storage developer Hecate Energy, gaining a platform to expand in the growing U.S. renewable energy market.
  • Chicago-based Hecate is one of the largest privately owned developers and operators of solar power plants in the U.S., with a portfolio of renewable projects totaling more than 40 GW.
  • No financial details are provided, but Reuters reports Repsol likely would pay "a few hundred million dollars," with an option to buy the rest of the company three years after the deal closes.
  • The Hecate deal helps Repsol with its plan to boost renewable generation capacity to 15 GW by 2030 from the 1 GW of hydropower and wind capacity it had installed at the end of last year.

    Over the current book year the company from Madrid could achieve a revenue around 42.34 billion euros (consensus estimates). This is quite more than 2020's revenue of 33.28 billion euros.

    Historical revenues and results Repsol plus estimates 2020

    aandelenanalyse

    The analysts expect for 2021 a net profit of 1.69 billion euros. According to most of the analysts the company will have a profit per share for this book year of 1.1 euros. Based on this the price/earnings-ratio is 9.85.

    Huge dividend Repsol

    Per share the analysts expect a dividend of 58 cents per share. The dividend yield is then 5.35 percent. The average dividend yield of the oil & gas producers equals an attractive 3.08 percent.

    Repsol 's market capitalization is based on the number of outstanding shares around 17.14 billion euros. The Repsol stock was the past 12 months quite volatile. Since last May the stock is even 37 percent higher. This year the stock price moved between 5 and 11 euro.

    Historical stock prices Repsol

    stock prices repsol

    At 12.36 the stock trades 0.26 percent higher at 10.84 euros.

    Analist.nl Nieuwsdienst: +31 084-0032-842
    nieuws@analist.nl

    Copyright analist.nl B.V.
    All rights reserved. Any redistribution, duplication or archiving prohibited. Analist.nl doesn't warrant the accuracy of any News Content provided and shall not be liable for any errors, inaccuracies or for any actions taken in reliance thereon.