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Highlights
- New Zealand boasts advanced energy companies on its shores.
- Few of Genesis Energy’s senior management members to step down from their positions next year.
- Meridian Energy offers incentives to certain employees in order to retain them.
Energy stocks are the driver of a country’s economic progression as they are instrumental for its industrial growth.
New Zealand has well-established energy companies deploying advanced methods for producing energy from renewable sources. The country boasts the highest proportion of deriving energy from cleaner and greener sources other than fossil fuels.
On this note, let us take a quick peek at the two most popular NZX-listed energy stocks.
Source: © 2021 Kalkine Media® data source- Refinitiv
Genesis Energy Limited (NZX:GNE; ASX:GNE)
Functioning as a diversified energy company, Genesis Energy Limited supplies electricity, natural gas as well as LPG to its customers. Some time back, the Company announced that both its Chief Operations Officer and Chief Digital Officer have sought a departure from GNE as they plan to move back to Australia.
While the COO would work till June 2022, its CDO would leave the Company in February 2022.
GNE is looking for a suitable replacement for the above-said positions.
On 9 December, at the time of writing, Genesis Energy fell by 1.84% at NZ$2.94.
Meridian Energy Limited (NZX:MEL; ASX:MEZ)
Meridian Energy Limited is NZ’s leading energy company, distributing 100% renewable energy. Recently, the Company had announced offering the Long-Term Incentive Scheme to certain senior key employees to retain them.
Here, MEL has issued rights to the participants who have accepted the said offer to acquire ordinary shares in the Company.
On 9 December, at the time of writing, Meridian Energy declined by 0.94% at NZ$4.725.
Bottom Line
Energy stocks are the backbone of a nation. They generally prove beneficial for their shareholders in the long run.
