Morningstar - Trustpower (TPW) Trustpower Outperforming; We Lift FVE to NZD 5.90

Report

Morningstar

Adrian Atkins

EUR 101.80 For Business Accounts Only

Trustpower Outperforming; We Lift FVE to NZD 5.90

Narrow-moat Trustpower continues to benefit from favourable weather conditions, leading management to upgrade fiscal 2018 EBITDA guidance by 12% to NZD 255 to 270 million. North Island hydro inflows have been well above average in 2017, while South Island inflows have been poor. This has allowed Trustpower to increase hydroelectric production, while the wholesale price has been supported by reduced output from the major South Island electricity generators in Meridian Energy and Contact Energy. E...

16/10/2017 13 EN

Underlying

Trustpower

Trustpower is an electric power generation and retail group based in New Zealand. Co. and its subsidiaries are engaged in the development, ownership and operation of electricity generation facilities from renewable energy sources and the retail sale of electricity and telecommunications services to its customers. Co. owns and maintains 36 small to medium size Hydro Generating Stations and two Wind Farms, with a further Wind Farm in South Australia. Co. is engaged in the production of electricity from renewable sources and its power stations produce enough electricity for around 220,000 New Zealand households.

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NZTPXE0001S5 NZX New Zealand

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Adrian Atkins

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Trustpower Outperforming; We Lift FVE to NZD 5.90

Morningstar | Trustpower Reports In Line FY19 Result; FVE Up 3%

Morningstar | Trustpower Offers a Solid Dividend Yield, But Don't Expect Much Earnings Growth

Trustpower Reports In Line FY19 Result; FVE Up 3%

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Sasol Provides Full-Year Production Update

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