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    MEL   NZMELE0002S7

MERIDIAN ENERGY LIMITED

(MEL)
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Meridian Energy Looks to Sell Australia Electricity Business

06/07/2021 | 03:18pm EDT

By Stephen Wright

WELLINGTON, New Zealand--Meridian Energy Ltd. said it has begun a review of the ownership of its Australian electricity business that could result in a full or partial sale.

The company, one of New Zealand's main power generators, said financial advisory firm Lazard is conducting the review, which may take a number of months.

Meridian Energy Australia has 294 megawatts of renewable generation capacity and a further 150MW it could develop. Its retail electricity and gas business, Powershop, has about 180,000 customers.

Write to Stephen Wright at stephen.wright@wsj.com

(END) Dow Jones Newswires

06-07-21 1718ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -1.58% 33290.08 Delayed Quote.10.51%
LAZARD LTD -1.47% 43.5 Delayed Quote.2.84%
MERIDIAN ENERGY LIMITED -2.63% 5.18 End-of-day quote.-30.19%
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Financials
Sales 2021 3 880 M 2 690 M 2 690 M
Net income 2021 242 M 168 M 168 M
Net Debt 2021 1 527 M 1 059 M 1 059 M
P/E ratio 2021 54,3x
Yield 2021 3,28%
Capitalization 13 272 M 9 194 M 9 201 M
EV / Sales 2021 3,81x
EV / Sales 2022 4,43x
Nbr of Employees 1 031
Free-Float 48,9%
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Technical analysis trends MERIDIAN ENERGY LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 5,31 NZD
Last Close Price 5,18 NZD
Spread / Highest target 51,2%
Spread / Average Target 2,41%
Spread / Lowest Target -24,7%
EPS Revisions
Managers and Directors
NameTitle
Neal Anthony Barclay Chief Executive Officer
Michael John Roan Chief Financial Officer
Mark John Verbiest Chairman
Peter David Wilson Deputy Chairman
Anake Angus Murray Goodall Independent Non-Executive Director
Sector and Competitors