Meridian Energy (ASX:MEZ) - Stock Price, News & Analysis

MEZ Stock Overview

Engages in the generation, trading, and retailing of electricity to residential, business, and industrial customers in New Zealand, Australia, and the United Kingdom. More details

MEZ fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	1/6
Past Performance	4/6
Financial Health	5/6
Dividends	3/6

Rewards

Trading at 54.7% below our estimate of its fair value

Earnings are forecast to grow 6.59% per year

Earnings grew by 351.6% over the past year

Risk Analysis

Dividend of 3.57% is not well covered by earnings or free cash flows

Meridian Energy Limited Competitors

LGI

ASX:LGI

AU$275.3m

APA Group

ASX:APA

AU$9.3b

Origin Energy

ASX:ORG

AU$18.9b

AGL Energy

ASX:AGL

AU$7.3b

Price History & Performance

Summary of all time highs, changes and price drops for Meridian Energy
Historical stock prices
Current Share Price	NZ$5.25
52 Week High	NZ$6.24
52 Week Low	NZ$4.70
Beta	0.77
11 Month Change	-2.23%
3 Month Change	-7.24%
1 Year Change	9.60%
33 Year Change	22.09%
5 Year Change	17.45%
Change since IPO	458.51%

Recent updates

Shareholder Returns

	MEZ	AU Renewable Energy	AU Market
7D	-2.8%	0.03%	0.9%
1Y	9.6%	-7.1%	18.4%

Return vs Industry: MEZ exceeded the Australian Renewable Energy industry which returned -7.1% over the past year.

Return vs Market: MEZ underperformed the Australian Market which returned 18.4% over the past year.

Price Volatility

Is MEZ's price volatile compared to industry and market?
MEZ volatility
MEZ Average Weekly Movement	3.8%
Renewable Energy Industry Average Movement	10.2%
Market Average Movement	8.5%
10% most volatile stocks in AU Market	17.5%
10% least volatile stocks in AU Market	3.2%

Stable Share Price: MEZ has not had significant price volatility in the past 3 months compared to the Australian market.

Volatility Over Time: MEZ's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1998	936	Neal Barclay	www.meridianenergy.co.nz

Meridian Energy Limited engages in the generation, trading, and retailing of electricity to residential, business, and industrial customers in New Zealand, Australia, and the United Kingdom. The company generates electricity through 7 hydro stations that has a capacity of 2,365 MW; 6 wind farms that has a capacity of 571 MW; and a grid-scale solar array, as well as offers solar installation services. It sells electricity under the Meridian Energy and Powershop brands.

Meridian Energy Limited Fundamentals Summary

How do Meridian Energy's earnings and revenue compare to its market cap?
MEZ fundamental statistics
Market cap	AU$13.75b
Earnings (TTM)	AU$384.86m
Revenue (TTM)	AU$4.36b

35.7x

P/E Ratio

3.2x

P/S Ratio

Is MEZ overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MEZ income statement (TTM)
Revenue	NZ$4.86b
Cost of Revenue	NZ$4.10b
Gross Profit	NZ$754.00m
Other Expenses	NZ$325.00m
Earnings	NZ$429.00m

Last Reported Earnings

Jun 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.16
Gross Margin	15.53%
Net Profit Margin	8.83%
Debt/Equity Ratio	16.3%

How did MEZ perform over the long term?

See historical performance and comparison

Dividends

3.6%

Current Dividend Yield

127%

Payout Ratio

MEZ Stock Overview

Rewards

Risk Analysis

Meridian Energy Limited Competitors

ASX:LGI

AU$275.3m

ASX:APA

AU$9.3b

ASX:ORG

AU$18.9b

ASX:AGL

AU$7.3b

Price History & Performance

Recent News & Updates

Final dividend of NZ$0.17 announced

Full year 2024 earnings: EPS exceeds analyst expectations

Meridian Energy Limited Declares Partially Imputed Final Ordinary Dividend for the Fiscal Year Ended June 30, 2024, Payable on 20 September 2024

Meridian Energy Limited, Annual General Meeting, Oct 15, 2024

Meridian Energy Limited to Report Fiscal Year 2024 Results on Aug 28, 2024

Meridian Energy Limited Announces Dividend for the Six Months Ended December 31, 2023, Payable on March 26, 2024

Recent updates

Final dividend of NZ$0.17 announced

Full year 2024 earnings: EPS exceeds analyst expectations

Meridian Energy Limited Declares Partially Imputed Final Ordinary Dividend for the Fiscal Year Ended June 30, 2024, Payable on 20 September 2024

Meridian Energy Limited, Annual General Meeting, Oct 15, 2024

Meridian Energy Limited to Report Fiscal Year 2024 Results on Aug 28, 2024

Meridian Energy Limited Announces Dividend for the Six Months Ended December 31, 2023, Payable on March 26, 2024

Meridian Energy Limited to Report First Half, 2024 Results on Feb 28, 2024

Meridian Energy Limited Announces Final Ordinary Dividend for the Six Months Ended June 30, 2023, Payable on September 22, 2023

New minor risk - Profit margin trend

Meridian Energy Limited, Annual General Meeting, Oct 12, 2023

Meridian Energy Limited Appoints David Carter as A Non-Executive Director with Effect from 25 July 2023

Meridian Energy Limited to Report Fiscal Year 2023 Results on Aug 29, 2023

Chief People Officer recently sold AU$494k worth of stock

First half 2023 earnings released: EPS: NZ$0.078 (vs NZ$0.056 in 1H 2022)

Meridian Energy Limited Announces the Appointment of Benjamin Bateman as Director , Effective 28 February 2023

Meridian Energy Limited to Report First Half, 2023 Results on Mar 01, 2023

High number of new directors

Independent Non-Executive Director recently bought AU$91k worth of stock

Upcoming dividend of NZ$0.13 per share

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Meridian Energy Limited Announces Ordinary Fully Paid Foreign Exempt NZX Dividend for the Six Months Ended June 30, 2022, Payable on September 23, 2022

Meridian Energy Limited, Annual General Meeting, Oct 18, 2022

High number of new directors

Meridian Energy Limited Appoints Graham Cockroft as A Non-Executive Director with Effect from 26 July 2022

Meridian Energy Limited to Report Fiscal Year 2022 Results on Aug 24, 2022

Meridian Makes Two Appointments to Executive Team

Upcoming dividend of NZ$0.067 per share

First half 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Meridian Energy Limited Announces Dividend on MEZ - Ordinary Fully Paid Foreign Exempt NZX for the Six Months Ended December 31, 2021, Payable on April 8, 2022

Shell Energy Operations Pty Ltd and Infrastructure Capital Group Ltd completed the acquisition of Meridian Energy Australia Pty. Ltd. from Meridian Energy Limited (NZSE:MEL) for AUD 740 million.

Chief People Officer Tania Palmer has left the company

Insider recently sold AU$225k worth of stock

Shell Energy Operations Pty Ltd and Infrastructure Capital Group Ltd agreed to acquire Australian Business Of Meridian Energy Limited from Meridian Energy Limited (NZSE:MEL) for approximately AUD 730 million.

Upcoming dividend of NZ$0.13 per share

High number of new directors

High number of new directors

High number of new directors

Full year 2021 earnings released: EPS NZ$0.17 (vs NZ$0.069 in FY 2020)

Upcoming dividend of NZ$0.066 per share

Insider recently sold AU$75k worth of stock

First half 2021 earnings released: EPS NZ$0.089 (vs NZ$0.075 in 1H 2020)

Revenue and earnings miss expectations

New 90-day low: AU$5.29

Jason Stein to Step Down as CEO of Meridian Energy Australia and Powershop Australia of Meridian Energy Limited

Rio Tinto Reaches Deal with Meridian Energy to Extend Operations to 2024

New 90-day high: AU$7.30

Meridian Energy Limited to Report Q2, 2021 Results on Feb 24, 2021

New 90-day high: AU$6.39

New 90-day high: AU$5.74

New 90-day high: AU$5.12

New 90-day high - AU$4.93

Full year earnings released - EPS AU$0.069

Meridian Energy Limited to Report Fiscal Year 2020 Results on Aug 26, 2020

New 90-day low - AU$4.25

Shareholder Returns

Price Volatility

About the Company

Meridian Energy Limited Fundamentals Summary

35.7x