BPBP PLC (NYSE: BP) is a multinational oil and gas company headquartered in the United Kingdom. It is involved in both upstream and downstream segments, from oil extraction to refining, delivery, and retail. While the stock has struggled this year, there are reasons to invest in this pick while it’s down.

BP is continuing to pivot its operating structure to focus more on renewable energy. This is good news for alternative investors, as the stock gives exposure to both traditional and emerging energy markets. The company has pledged to invest $5 billion in low-carbon projects before 2030, and it will reduce oil production by 40%. The company is on track to reach net-zero emissions before 2050. It will achieve this by offsetting its carbon footprint with clean energy.

The company’s research suggests that the demand for fossil fuels will fall by 75% within the next three decades. This is something that alternative investors already understand. Stock is affordable today and BP is a profitable company that provides investor returns. The dividend yield at today’s price is 13.01%, much higher than the average alternative stock. Price growth is also likely, with an average target of $27.60. Based on its shift to renewables, this is one of the best alternative energy stocks this month.

Key Data:

  • 1 Year Price Growth: -55.17%
  • YTD Price Growth: -55.80%
  • 3 Month Price Growth: -29.95%

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.