Hot Utilities stocks to keep an eye on this Easter Season!

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Summary

  • Looking for Utility stocks to invest in, this Easter Season?
  • Below are some of the best bets in terms of renewable energy stocks
  • Have a look at the latest developments in these stocks and select accordingly.

 

Utilities play a huge role in the economic development of any country as energy is indispensable in various kinds of industries. The renewable energy or utilities market is hot right now and if you are looking to add a few solid names to your investment portfolio this Easter season, these should definitely be considered.

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Mercury NZ (NZX:MCY)

This Company generates electricity through various renewable resources. There has been the appointment of Ms. Lucy Drummond as the new General Manager Sustainability, for the Company. She previously served as the Risk Assurance Manager with them.

Mercury appoints new General Manager Sustainability - NZX, New Zealand’s Exchange

On April 1, Mercury NZ traded at NZ$6.500, at the time of writing.

Genesis Energy Limited (NZX:GNE)

Another name in the utilities sector, Genesis Energy is known for the sale of LPG, Natural Gas as well as electricity. On March 5, the Company had announced that Tilt Renewables is on the final stages of wrapping up construction for the much-awaited Waipipi Windfarm which when fully functional shall be responsible for powering as many as 65000 homes.

On April 1, Genesis Energy Limited traded at NZ$3.495, up by 0.14% at the time of writing.

Waipipi Wind Farm Update - NZX, New Zealand’s Exchange

Tilt Renewables (NZX:TLT)

Dealing in the management as well as development of renewably energy, Tilt renewables has recently been in the news for the completion of its Waipipi Wind Farm. This 31- wind turbine farm is one of the largest assets of the Company and shall go a long way in the development of renewable energy across the country in the near future.

On April 1, Tilt Renewables traded at NZ$7.600, up by 0.40, at the time of writing.

Waipipi Wind Farm Update - NZX, New Zealand’s Exchange

Contact Energy Limited (NZX:CEN)

This Company is based on sustainable energy operations. Recently they have announced an agreement with Nova Energy, according to which there shall be a purchase of as much as 3.6PJ of Gas whereas the similar amount shall be given to Nova Energy in the form of electricity. This is a way of safeguarding supplies for the Taranaki Combined Cycle Plant in the winters of 2021, respectively.

Contact enters gas tolling agreement - NZX, New Zealand’s Exchange

On April 1, Contact Energy Limited traded at NZ$7.080, up by 1.00%, at the time of writing.

Meridian Energy Limited (NZX: MEL)

In its operating report for Feb 2021, Meridian Energy Limited announced 11.6% higher retail sales volumes as compared to pcp. Up to 16 March 2021, there was a decrease in the national hydro storage, from 80% to 70% respectively. There was a sales increase witnessed in all segments as compared to the previous year, respectively.

 

On April 1, Meridian Energy Limited traded at NZ$5.580, up by 3.53%, at the time of writing.

Also read: Do You Know Why These 5 NZX Stocks Are In Spotlight -PHL, AFC, SML, TLS, MCY?

 

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