Macquarie shares ‘a clear beneficiary’ of global green energy push: fundie

A man and woman put hands in the air as they dance in front of a green brick wall.A man and woman put hands in the air as they dance in front of a green brick wall.

Macquarie Group Ltd (ASX: MQG) shares are sliding today.

The global banking, financial services and fund management business closed yesterday trading at $171.00 per share and is currently trading for $167.74, down 1.9%.

Macquarie isn’t the only stock under pressure, with the S&P/ASX 200 Index (ASX: XJO) down 1.1% at this same time.

While Macquarie shares are underperforming today, they have a history of long-term outperformance. And Blackmore Capital portfolio manager Marcus Bogdan believes there’s more of that to come.

Benefiting from the global green energy push

Speaking to Livewire, Bogdan chose Macquarie as one of two blue-chip ASX shares he’d be happy to buy and hold for five years.

He said Macquarie shares are “a clear beneficiary of an environment that we believe will reward companies with rising exposure to net-zero targets by 2050”.

According to Bogdan:

The opportunity for Green Capex needs has never been stronger as investment is urgently required across the entire supply chain to meet Net Zero targets.

Macquarie firmly established its position in 2017 when it acquired the Green Investment Group from the UK government, to become a leading financier and developer of green infrastructure including renewable energy projects.

Bogdan pointed out that Macquarie shares are likely to benefit from rising demand for the company’s services amid the ongoing and volatile global green energy transition:

The transition to green energy is also driving heightened volatility in energy markets as governments grapple with the ongoing energy supply challenges impacting both fossil fuels and renewables.

There’s increased demand – and this is growing – for the risk management, financing and logistics services offered by Macquarie’s Commodities and Global Markets division. This is driven by the increased activity, volatility and supply chain disruption in energy and commodity markets currently.

How have Macquarie shares been tracking?

Though underperforming in the calendar year, Macquarie shares have gained 9% over the past 12 months, compared to a full-year loss of 10% posted by the ASX 200.

There’s also some income on offer.

At the current price, Macquarie shares pay a trailing dividend yield of 3.7%, fully franked.

The post Macquarie shares ‘a clear beneficiary’ of global green energy push: fundie appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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