- Mercury NZ offered resilient results amidst new COVID-19-related restrictions.
- Trustpower offers a name for the new-generation business.
- Flexible energy solutions being offered by Contact Energy for a new data centre.
Last year, many business sectors witnessed ups and downs due to the COVID-19-related lockdowns. With the energy sector not being much different, it had its share of struggles to deal with. Let’s cast a glance at some top energy stocks in the country that can be on your watchlist this month.
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Trustpower Limited (NZX:TPW)
This Company offers a wide range of energy services besides phone and internet services. It has recently announced that its New-Generation business shall be known as Manawa Energy Limited, holding significance in the local Māori culture. It was further announced that Susan Peterson won’t be seeking re-election as the Director, while David Prentice shall step down as the Director and continue as the CEO.
On 2 September 2021, the Company traded at NZ$7.970, down by 0.38%, at the time of writing.
Offering LPG and Reticulated Gas, this energy-based company recently announced that its annual meeting would be held online, on 29 October 2021, owing to COVID-19-related restrictions. Further, 17 September 2021 was announced as the last date for the Director Nominations to be filled in.
On September 2, the Company traded at NZ$3.390 flat at the time of writing.
Offering energy-based solutions, the Company is focused on decreasing its carbon footprint and making for a sustainable existence. Flexible renewable electricity solutions are being offered by the company for the novel data centre situated near Clyde Dam. This is according to an agreement entered into with Lake Parime, according to which the low-emission data centre shall be provided 100MW renewable electricity.
On 2 September, Contact Energy traded at NZ$8.230, up by 0.61%, at the time of writing.
One of the largest energy-based Companies in New Zealand with dual listing, this Company operated through different brands. Recently, it released its dividend reinvestment plan, which will enable its shareholders to invest back the stipulated final dividend offered by the Company in FY21. The plan states the best options, prices, returns and everything in between.
On 2 September 2021, the Company traded at NZ$5.210, down by 0.57% at the time of writing.
This company specialises in generating energy through geothermal and hydro sources. In its latest results released by the Company for the period till 30 June 2021, the EBITDAF recorded was NZ$463 million, while the NPAT declared was NZ$141 million. The performance was resilient as compared to the challenges faced through the course of the year.
On 2 September 2021, the Company traded at NZ$6.640, down by 0.30% at the time of writing.
These energy stocks have offered resilient performances despite the challenges faced after the onset of the pandemic. Research about them well to figure out if they could be worth investing.