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Highlights
- The Glasgow meet of international leaders from various countries witnessed discussions on the looming climate threat and steps taken to curtail carbon emissions.
- Genesis Energy releases its investor presentation highlighting its FY21 performance and giving FY22 earnings guidance.
- Trustpower to publish its interim results on 8 November.
Recently, a global climate change conference was held in Glasgow to reduce carbon emissions and future energy needs.
The said COP26 climate conference focused on the goals set in the 2015 Paris agreement and the measures taken so far.
It also laid emphasis on the role played by major carbon-emitting countries, because if they fail to achieve a low-carbon status by 2050-2060, all the work and strategies implemented by the rest of the countries would be nullified as they would not be enough to avoid a climate catastrophe.
Though nearly 100 countries have set their targets to cut down on carbon emissions, only a few countries have aligned their targets with the legislation. New Zealand falls in the latter category.
With the given backdrop, let us look into the three NZX energy stocks which would play a crucial role in the country’s climate change policy.
Image source: © 2021 Kalkine Media New Zealand Ltd, data source- Refinitiv
Genesis Energy Limited (NZX:GNE)
One of the leading electricity generation and LPG retailing companies is Genesis Energy Limited. Today, it released its investor presentation, wherein it briefly mentioned its FY21’s metrics.
Its revenue and EBITDAF for the said year stood at NZ$3.2 billion and NZ$358 million, respectively.
Related Read: 5 NZX stocks with a healthy dividend yield
GNE holds a market share of 22% and 38% in the electricity and gas segments, respectively.
Furthermore, the Company is focused on reducing its direct carbon emissions by 36% by 2025.
Also, it intends to distribute returns in line with its dividend policy and has given FY22’s EBITDAF guidance between NZ$420 million to NZ$440 million.
At the time of writing, Genesis Energy was trading up by 0.93% at NZ$3.240, on 4 November.
Contact Energy Limited (NZX:CEN)
Another famous electricity generation company operating in Kiwiland is Contact Energy Limited. Recently, the Company announced that the last day of the trading of its CEN030 bonds is today, after which they would be suspended.
The said bonds would mature on 15 November, payment of which would also be given on the same day.
Shares of Contact Energy were down by 0.99% at NZ$8.00, on 4 November, at the time of writing.
Interesting Read: Do these 2 NZX midcap stocks have growth prospects in Q4?
Trustpower Limited (NZX:TPW)
Trustpower Limited is a leading power company in NZ, offering a wide range of services like phone and the internet, and is also an energy retailer. On 8 November, TPW notified about unveiling its half-yearly results ended 30 September 2021.
Related Read: Are these 5 NZX mid-cap aiming to become large-cap stocks?
A webinar for shareholders has also been scheduled on the said date and deliberation on the same would be done by the Company’s Chief Executive and CFO.
At the time of writing, Trustpower was trading down by 0.27% at NZ$7.330, on 4 November.
Bottom Line
It is the need of the hour that nations set achievable zero-carbon targets and lock them with binding legislation to make this planet livable for future generations to come.
