There was a view last year that when BHP shareholders received their WPL shares that the WPL sp would tank because ESG enlightened BHP shareholders would immediately sell them off.
I’m not sure this was ever true but would appear be less likely now. (disclosure - I already hold BHP and WPL)
I’m still not happy that BHP have offloaded the petroleum arm but I’ve ranted about that before ......I won’t go on about it again.
WPL shares appear to have returned to favour amidst an acceptance that fossil fuel stocks have a place in the transition to renewables over the next couple of decades.
Gas in particular is being viewed as ‘light green’ in some circles.
The new WPL (incorporating the old BHPP) will still not be for the ESG purists but for many fundies and retail investors a flying WPL sp and dividend yield would not seem like something to dump.
Would be interested in others thoughts on this.
BHP Price at posting:
$46.15 Sentiment: Hold Disclosure: Held
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