S&P Global's Platts Division Snaps Up Canadian Enerdata

Shares of S&P Global Inc. (NYSE:SPGI) have gained a massive 52.5% year to date, significantly outperforming the 42% rally of the industry it belongs to and 15.7% rally of the Zacks S&P 500 composite.

The company’s division, S&P Global Platts, recently announced acquisition of Canadian Enerdata, an independent energy data and information provider in Canada.

Enerdata’s offerings include benchmark prices, news and analysis on the Canadian natural gas market. Its main product is the Canadian Gas Price Reporter (CGPR), which acts as the settlement publication for several Canadian daily and monthly physical, financial and basis natural gas contracts.

What’s in Store for Platts?

Enerdata complements Platts' existing pricing and analytics offerings.Its addition should enhance Platts' energy analytical capabilities and strengthen its foothold in North American natural gas market. Additionally, being the exclusive publisher of Canadian benchmark ICE (NYSE:ICE) NGX indices, Enerdata should increase the transparency and risk management tools available to Platts customers.

Martin Fraenkel, president of S&P Global Platts, stated," Canadian Enerdata Ltd. is a service of record for Canada's natural gas pricing and will extend S&P Global Platts' market insight in Canada, building on our strong benchmark position in the US market.”

Notably, Platts revenues increased 4% year over year to $213 million in the last reported second-quarter 2019 results.

S&P Global Inc. Revenue (TTM)

Zacks Rank and Other Stocks to Consider

S&P Global currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some other top-ranked stocks in the broader Zacks Business Services sector are FLEETCOR (NYSE:FLT) , Huron Consulting (NASDAQ:HURN) and Nielsen (NYSE:NLSN) , each carrying a Zacks Rank #2. Long-term expected earnings (three to five years) growth rate for FLEETCOR, Huron Consulting and Nielsen is 15.6%, 13.5% and 12%, respectively.

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