Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
We are reaffirming our $30 per share fair value estimate for Great Plains Energy as we believe the announcement that Missouri Gov. Eric Greitens would resign is unlikely to derail the merger with Westar Energy. Last week, regulators in Missouri and Kansas approved the merger. Ten days are required before regulatory decisions are effective in Missouri, making the Missouri approval effective on Sunday, June 3. Thus, we expect the all-stock merger of equals, creating Evergy Inc., to close the week ...
We are reaffirming our $48 per share fair value estimate for Westar Energy after the company reported earning $0.42 per share in the first quarter, the same as it earned in the first quarter of 2017. We are reaffirming our narrow moat and stable moat trend ratings, as well as our stand-alone forecasts for 2018 and beyond. Our fair value estimate is based on the 0.5981 share exchange ratio proposed in the Great Plains merger announced in July 2017 and our $30 per share fair value estimate for Gre...
We are reaffirming our $46.50 fair value estimate and narrow moat and stable moat trend ratings for Westar Energy after the company announced earning $2.27 per share in 2017. Earnings were about 10% lower than our estimate, primarily due to a write-off related to the tax cut legislation and unfavorable weather. Lower operating costs helped offset some of the weakness, and we believe Westar's core business growth potential remains on track. Our fair value estimate is based on the stock-for-stock ...
We are reaffirming our $46.50 fair value estimate and narrow moat and stable moat trend ratings for Westar Energy after the company announced earning $2.27 per share in 2017. Earnings were about 10% lower than our estimate, primarily due to a write-off related to the tax cut legislation and unfavorable weather. Lower operating costs helped offset some of the weakness, and we believe Westar's core business growth potential remains on track. Our fair value estimate is based on the stock-for-stock ...
We are reaffirming our $46.50 fair value estimate and narrow moat and stable moat trend ratings for Westar Energy after the company announced earning $1.11 per share in the third quarter. Earnings were mostly in line with last year's third-quarter results after adjusting for weather, and Westar remains on track to meet our full-year earnings estimate. Our fair value estimate is based on the stock-for-stock proposed merger with Great Plains Energy announced in July. We also are reaffirming our $...
We are reaffirming our $46.50 fair value estimate and narrow moat and stable moat trend ratings for Westar Energy after the company announced earning $1.11 per share in the third quarter. Earnings were mostly in line with last year's third-quarter results after adjusting for weather, and Westar remains on track to meet our full-year earnings estimate. Our fair value estimate is based on the stock-for-stock proposed merger with Great Plains Energy announced in July. We also are reaffirming our $...
We are maintaining our fair value estimates, moat ratings, and moat trend ratings for all utilities after Environmental Protection Agency head Scott Pruitt announced plans to repeal the Clean Power Plan, promulgated in 2015. We don't expect this move to have any impact on the utilities sector. We forecast U.S. carbon emissions will fall 28% from 2005 levels by early next decade, based on renewable energy and natural gas generation displacing coal generation. Low natural gas prices and gas tur...
KANSAS CITY, Mo. & TOPEKA, Kan.--(BUSINESS WIRE)-- Westar Energy, Inc. (NYSE: WR) and Great Plains Energy Incorporated (NYSE: GXP) today each announced special meetings on Tuesday, November 21, 2017, for their respective shareholders to vote on the companies’ proposed merger of equals. Great Plains Energy’s Special Meeting of Shareholders will be held on November 21, 2017, at 10 a.m. Central Time at Great Plains Energy, One Kansas City Place, 1200 Main Street, Kansas City, Missouri 64105 Westar Ene...
U.S. utilities' valuations reached a 14-month high this week when the median price/fair value ratio hit 1.17 for the 40 U.S. utilities in Morningstar's coverage. This is the highest median P/FV ratio for U.S. utilities since the all-time peak of 1.21 in July 2016. Other valuation metrics such as price/earnings (22) and price/book (2.1) for U.S. utilities also hit 2017 highs this week and are approaching peak levels from mid-2016. Morningstar's U.S. Utilities Sector Total Return Index also hit a...
We are reaffirming our $46.50 per share fair value estimate, narrow moat and stable moat trend for Westar Energy after the company announced earning $0.50 per share in the second quarter. Earnings were mostly in line with last year's second-quarter results after adjusting for weather, and Westar remains on track to meet our 2017 full-year earnings estimate. Our fair value estimate remains based on its stock-for-stock proposed merger with Great Plains Energy announced in July. We also are reaffi...
We are reaffirming our fair value estimates, moat and moat trend ratings for all U.S. utilities with nuclear exposure after analyzing the economics, regulation, and sustainability attributes of nuclear generation in the U.S. Nuclear power is at an inflection point in the U.S., with a wide gap developing between the anti-nuclear and pro-nuclear factions. This is a critical debate. The 99 nuclear units in the U.S. provide 20% of the nation’s electricity and meet essential reliability needs for m...
We are raising our fair value estimate for Westar Energy to $46.50 per share from $42 per share and cutting our fair value estimate for Great Plains Energy to $27 per share from $29 per share after the two utilities announced a revised merger plan. We are reaffirming our moat and moat trend ratings for both companies. We believe regulators will approve the deal and it will close in the first half of 2018. The new stock-for-stock deal replaces Great Plains' cash-and-stock acquisition proposal in ...
We are raising our fair value estimate for Westar Energy to $46.50 per share from $42 per share and cutting our fair value estimate for Great Plains Energy to $27 per share from $29 per share after the two utilities announced a revised merger plan. We are reaffirming our moat and moat trend ratings for both companies. We believe regulators will approve the deal and it will close in the first half of 2018. The new stock-for-stock deal replaces Great Plains' cash-and-stock acquisition proposal in ...
KANSAS CITY, Mo. and TOPEKA, Kan.--(BUSINESS WIRE)-- Westar Energy, Inc. (NYSE: WR) and Great Plains Energy Incorporated (NYSE: GXP) today announced that both companies’ boards of directors have unanimously approved a revised transaction that involves no premium paid or received with respect to either company, no transaction debt, no exchange of cash, and is a stock-for-stock merger of equals, creating a company with a combined equity value of approximately $14 billion. The new, combined company will provide electric utility service to ...
We are reaffirming our $42 per share fair value estimate and narrow moat and stable moat trend ratings after Westar Energy announced earning $0.42 per share in the first quarter, down from $0.46 per share in the first quarter of 2016. After adjusting for unusually warm weather, earnings remain on track to meet our 2017 full-year estimate. We still think Westar can achieve 5% annual average earnings growth during the next three years, but that might be backend-loaded if summer weather is cooler t...
We reaffirm our fair value estimates for Great Plains ($29 per share) and Westar Energy ($42 per share) after they asked Kansas regulators for more time to revise the merger terms that regulators rejected last month. We expect Kansas commissioners will grant the extension through May 31, but we still assume it is more likely than not that the merger will fail. We are reaffirming our moat and moat trend ratings. If the companies' counterproposal succeeds, we expect our deal-adjusted fair value e...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.