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24-02-2016, 08:41 AM
#1961
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24-02-2016, 08:54 AM
#1962
Member
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.
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24-02-2016, 09:23 AM
#1963
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)
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24-02-2016, 10:36 AM
#1964
Solid report and happy to hold for dividend income. Pleased with the dividend uplift and imputation level.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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29-02-2016, 05:09 PM
#1965
Seems to be back in reckoning by the market.
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29-02-2016, 05:42 PM
#1966
People buying for the dividend... about time the share price got close to the $2 mark again!
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29-02-2016, 07:08 PM
#1967
Banned
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.
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29-02-2016, 07:19 PM
#1968
Originally Posted by sb9
Seems to be back in reckoning by the market.
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??
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29-02-2016, 09:08 PM
#1969
Originally Posted by xafalcon
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??
Yes, there could be a few whispers, the fact GNE continually refuses to say 'we are definitely closing it, no questions asked' already says something (in my view - if you catch my drift...)
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01-03-2016, 09:52 AM
#1970
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.
Last edited by Beagle; 01-03-2016 at 09:53 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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