Higher electricity prices leave Manawa 'undervalued'

Higher electricity prices leave Manawa 'undervalued'
The analyst believes Manawa is well positioned to fund growth. (Image: Trustpower)
Ian Llewellyn
A rise in average wholesale electricity prices is likely to boost Manawa Energy's earnings, says a Morningstar analysis.A note by senior analyst Adrian Atkins lifted Morningstar’s fair value estimate of Manawa’s share price by 5% to $6.80. Yesterday, at market close, it was trading at $5.87.The company’s share price has generally been trending downwards over the past year – it was trading at $7.84 last September.Manawa has operated primarily as a hydro generator following the demerger of its Australian and New Zealan...

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