Energy stocks dip as analysts say prices are based on heroic assumptions

Electricity company shares could be in for a shock says analysts. (Image: NZME)

Mon, 23 Oct 2023

Share prices in four of the five major electricity companies dipped on Friday following a Forsyth Barr analysis, which said the sector was in for a shock as it was overpriced.Meridian slipped 23 cents to $4.85, Mercury was down 19.5c to $5.85, Contact 7c to $7.88, and Manawa 12c to $4.35, after all but Contact were given 'underperform' ratings by the Forbarr analysts.Genesis was up 2c to $2,44 after it (and Contact) were marked as preferred picks in the sector, even if it was with just a 'neutral' rating.The analysis said the el...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}