10 Clean Energy Stocks For 2020: Updates On GPP, HASI, CVA

Market Decline

Last week I warned, “The risks in today’s stock market outweigh the possibility of future potential gains.”  Looks like we’re seeing those risks manifest in short order. The last couple of days’ decline have me looking at a few stocks to start adding to my positions again, especially MiX Telematics (MIXTdiscussed on June 2nd and Green Plain Partners (GPP), discussed below.

Note that this pullback could easily be very early days of a much larger market decline. We might even see the market fall far enough to test the March lows… any of my buying now is just small amounts, with most of my buying power held in reserve. As I wrote last month, I balance the level of my buying or selling against my confidence in the valuations of the stocks in question and my predictions of market trends.  Right now I think we’re starting to see some good values in a few stocks again, but I think it’s likely that we will see much better valuations in the weeks or months to come, so I am mostly holding on to my cash and waiting for better values to be created by continued declines.

On the other hand, there’s also a chance that we’ll see an immediate rebound in the next week, which is why I’m doing a little buying now.

The three updates on the individual stocks in the model portfolio which I wrote for my Patreon supporters earlier this week:

Green Plains Partners (GPP) Secures Financing

First published June 8th.

On April 28th, I published Covanta and Green Plains Partners Don’t Let A Crisis Go To Waste about the two companies’ dividend cuts.

The main reason for GPP’s dividend cut was to enable it to refinance and pay down its debt. I wrote:  “Green Plains Partners needs to replace its revolving credit facility before it matures on July 1st. Under normal circumstances, I would not be concerned about the prospects of replacing the facility, but this year is not what anyone would consider normal circumstances. … GPP has made significant progress in its negotiations with lenders, and that the dividend cut is part of what was needed to get the lenders to agree to extend credit.”

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Disclosure: Long positions all the stocks mentioned.

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Andrew Armstrong 4 months ago Member's comment

Good picks here.