https://www.nzx.com/companies/GNE/announcements/278174
Results look impressive to me... Thoughts?
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https://www.nzx.com/companies/GNE/announcements/278174
Results look impressive to me... Thoughts?
Well very much a BAU report, sounds like negotiations are moving slightly in GNEs favour re HLY, a softening on the tone re closure in the remark IMO.
Slightly disappointed in the DPS uplift re FCF but that may reflect more a view of the out-year CF in a low POO environment.
Not much vision unfortunately.
Kupe hedging (Fx and bbl price/proportion) is much much better than I expected, excellent contracting by someone. They deserve a bonus
Recovery in customer numbers still has a long way to go, but is trending in the right direction. They must keep their focus on continuing to improve this all-important metric
Dividend % of SP is the highest (that I have seen) in the generator sector with good imputation credit attached
As noted above, not a huge amount of forward vision, but the Tiwai situation does make that difficult. The Huntly rankines also sound like they are under discussion, so probably can't reveal too much at this stage
IMO this is a very good report (seems better than MEL which I also skimmed through)
Solid report and happy to hold for dividend income. Pleased with the dividend uplift and imputation level.
Seems to be back in reckoning by the market.
People buying for the dividend... about time the share price got close to the $2 mark again!
Its a hold for me. Some reported as a flat result. But, I thought in this difficult economic climate and many companies not doing so well, this was a good result. Maybe I've been down for so long its looks like up for me.
When I read the GNE report and compared it to the MEL report issued on the same date, I thought the market reaction last week was bizarre. IMO the GNE report was much stronger, yet MEL SP rose considerably and GNE SP was flat. The declared dividend definitely favours GNE on a SP corrected basis, even including the MEL special dividend. Go figure
Maybe there has been some re-reading of the report over the weekend. Or perhaps some info on the Huntly Rankines role beyond 2018 is leaking??
Its not a great sign for the market overall that utilities in general are doing well...people need power even in a deep recession.
Or maybe its just the nice safe yield thing. I see ANZ have changed their view and now see two further OCR rate decreases this year taking us down to an all time record low of 2%. I reckon it could even go lower than that if dairy stays in the doldrums.