New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

Genesis Energy Ltd. generates, transports, and retails electricity. The Company owns and operates hydroelectric generating stations to produce electricity, as well as explores natural gas and bottled liquefied petroleum gas.

<ul><li>An increasingly uncertain gas outlook has led us to downgrade our Genesis Energy (GNE) rating to NEUTRAL from OUTPERFORM.</li><li>Higher gas costs and gas generation portfolio restrictions has resulted in a lower and more uncertain earnings forecast from FY26 onwards.</li><li>In addition, despite GNE now operating its third Rankine unit, it does not appear to be in the position to take advantage of the situation as much as previously thought. </li></ul>

An increasingly uncertain gas outlook has led us to downgrade our Genesis Energy (GNE) rating to NEUTRAL from OUTPERFORM.Higher gas costs and gas generation portfolio restrictions has resulted in a lower and more uncertain earnings forecast from FY26 onwards.In addition, despite GNE now operating its third Rankine unit, it does not appear to be in the position to take advantage of the situation as much as previously thought. 

Genesis Energy - Costs Cut Outlook and Rating - 4Q24 Op Stats

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Brookfield Renewable Corporation operates as an investment company. The Company focuses on investing in real estate, infrastructure, renewable power, and private equity sectors. Brookfield Renewable develops and manages assets and businesses worldwide.

<ul>
<li>Brookfield Renewable reported mixed results in its fourth quarter 2023 earnings, presenting both challenges and advancements in its operational and financial strategies.</li>
<li>The company, a leader in renewable energy solutions, demonstrated robust operational success by increasing its funds from operations, driven primarily by organic growth and strategic acquisitions.</li>
<li>Notably, the deployment of $9 billion into diverse opportunities highlights Brookfield Renewable's aggressive capital investment strategy, aiming to enhance its global footprint in the renewable sector.</li>
</ul>


Brookfield Renewable reported mixed results in its fourth quarter 2023 earnings, presenting both challenges and advancements in its operational and financial strategies.
The company, a leader in renewable energy solutions, demonstrated robust operational success by increasing its funds from operations, driven primarily by organic growth and strategic acquisitions.
Notably, the deployment of $9 billion into diverse opportunities highlights Brookfield Renewable's aggressive capital investment strategy, aiming to enhance its global footprint in the renewable sector.


Brookfield Renewable Corporation: Initiation of Coverage

Essential Utilities, Inc. operates as a water utility company. The Company supplies water to residential, commercial, industrial, and public customers. Essential Utilities serves residents through its water and wastewater operations in the Northeastern Southeastern, and Midwestern United States.

<ul>
<li>Essential Utilities has reported a robust first quarter for 2024.</li>
<li>The company, during this period, achieved GAAP earnings of $0.97 per share, benefiting significantly from the gain on sale resulting from the closure of energy projects earlier in January.</li>
<li>Despite the warmer weather impacting the demand for its gas utility, Essential Utilities has shown strong operational performance across both its Gas and Water sectors.</li>
</ul>


Essential Utilities has reported a robust first quarter for 2024.
The company, during this period, achieved GAAP earnings of $0.97 per share, benefiting significantly from the gain on sale resulting from the closure of energy projects earlier in January.
Despite the warmer weather impacting the demand for its gas utility, Essential Utilities has shown strong operational performance across both its Gas and Water sectors.


Essential Utilities Inc.:  Initiation of Coverage

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Avangrid, Inc. operates as an energy services holding company. The Company engages in the regulated energy transmission and distribution business through wind and solar power, as well as natural gas utilities. Avangrid serves customers in the United States.

<ul><li>AGR minority-squeeze out arbitrage presents a profitable opportunity for arbitrage investors</li><li>Buffett's endorsement of arbitrage as a cash management strategy adds credibility to potential returns</li><li>Current premium AGR is trading at indicates confidence in a higher offer, making it an attractive short-term investment opportunity for higher returns</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

AGR minority-squeeze out arbitrage presents a profitable opportunity for arbitrage investorsBuffett's endorsement of arbitrage as a cash management strategy adds credibility to potential returnsCurrent premium AGR is trading at indicates confidence in a higher offer, making it an attractive short-term investment opportunity for higher returnsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Avangrid Inc (AGR) - Sunday, Apr 21, 2024

Evergy, Inc. provides electricity generation, transmission, and distribution services. The Company offers its services in the United States.

<ul><li>Evergy, Inc. reported its financial results for the first quarter of 2024, indicating a mix of strengths and challenges impacting its performance.</li><li>The company delivered adjusted earnings of $0.54 per share, down from $0.59 per share in the same period the previous year.</li><li>This reduction in earnings per share can be attributed largely to increased costs, including higher operations and maintenance expenses, depreciation and amortization expenses, and interest expenses.</li></ul>

Evergy, Inc. reported its financial results for the first quarter of 2024, indicating a mix of strengths and challenges impacting its performance.The company delivered adjusted earnings of $0.54 per share, down from $0.59 per share in the same period the previous year.This reduction in earnings per share can be attributed largely to increased costs, including higher operations and maintenance expenses, depreciation and amortization expenses, and interest expenses.

Evergy Inc.: Initiation of Coverage - Is Its Focus on Economic Development and Large Load Customers Paying Off? - Major Drivers

Utilities
Insights in the Utilities Space

Genesis Energy - Costs Cut Outlook and Rating - 4Q24 Op Stats

An increasingly uncertain gas outlook has led us to downgrade our Genesis Energy (GNE) rating to NEUTRAL from OUTPERFORM.

Forsyth Barr

Brookfield Renewable Corporation: Initiation of Coverage

Brookfield Renewable reported mixed results in its fourth quarter 2023 earnings, presenting both challenges and advancements in its operational and...

Baptista Research

Essential Utilities Inc.: Initiation of Coverage

espite the warmer weather impacting the demand for its gas utility, Essential Utilities has shown strong operational performance across both its...

Baptista Research

Avangrid Inc (AGR) - Sunday, Apr 21, 2024

Current premium AGR is trading at indicates confidence in a higher offer, making it an attractive short-term investment opportunity for higher returns

Value Investors Club

Evergy Inc.: Initiation of Coverage - Is Its Focus on Economic Development and Large Load Customers Paying Off? - Major Drivers

Evergy, Inc. reported its financial results for the first quarter of 2024, indicating a mix of strengths and challenges impacting its...

Baptista Research