What did Mercury NZ report?

• Revenue from continuing operations: NZ$1,664 million, down 5% from the prior period
• EBITDAF: NZ$537 million, up 28% on HY25
• Net profit after tax (NPAT): NZ$20 million, up 130% on HY25
• Interim dividend: 10 cents per share, up 4% on HY25 (record date 5 March, payment 1 April)
• Net tangible assets per share: $3.33, up from $3.26 a year ago

What else do investors need to know?

Mercury says it reinvested half of its HY26 earnings—around NZ$270 million—into new and existing generation assets, with all three of its major renewable projects progressing on schedule and within budget. The company's new Ngā Tamariki Geothermal Station unit began operations in January, while the Kaiwera Downs Stage 2 and Kaiwaikawe wind farms are both expected to start generating during 2026 and 2027.

Mercury continues to focus on supporting its customers by helping them manage energy costs and offering targeted support where needed. The company's Dividend Reinvestment Plan (DRP) remains open for shareholders, offering a 2% discount.

What did Mercury NZ management say?

Mercury Chief Executive Stew Hamilton said:

Our disciplined strategic execution is delivering a strong performance today, while enabling us to invest significantly in new renewable generation for New Zealand, helping meet future demand growth and build resilience.

What's next for Mercury NZ?

Looking ahead, Mercury's full-year EBITDAF guidance of NZ$1 billion remains on track, helped by higher renewable generation and cost management. The company also plans to invest NZ$590 million in hydro refurbishment over the next decade, building on the completed upgrade of the Karāpiro Hydro Station.

Mercury's long-term strategy is to add 3.5 TWh of new renewable generation by 2030, supporting New Zealand's transition and aiming to power an extra 430,000 homes. Management says the strong balance sheet and prudent risk settings underpin continued investment in high-quality renewable assets and sustainable shareholder returns.

Mercury NZ share price snapshot

Over the past 12 months, Mercury NZ shares have declined 6%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 9% over the same period.

View Original Announcement

The post Mercury NZ results: Profit and dividend up as renewables power HY26 appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) lifted above 9,000 points for the first time in three-and-a-half months last week.

The benchmark index reached an intraday peak of 9,105 points on Thursday.

That was just 10 points shy of the all-time record of 9,115.2 points reached on 21 October.

Strong results from major companies, including Commonwealth Bank of Australia (ASX: CBA), ANZ Group Holdings Ltd (ASX: ANZ), and ASX 200 gold miner Northern Star Resources Ltd (ASX: NST), contributed to an overall 2.4% lift for the ASX 200 last week.

The ASX 200 closed at 8,917.6 points on Friday.

CBA's 6% lift in cash profits to $5.45 billion for 1H FY26 saw the bank retake the ASX 200's No. 1 spot from BHP Group Ltd (ASX: BHP).

BHP shares reclaimed the title last month after CBA took it from the miner in July 2024 during an extraordinary share price run.

Seven of the 11 market sectors finished in the green last week.

The worst performing sector was healthcare, down 12.61%, after investors hammered three of the sector's giants.

Shares in CSL Ltd (ASX: CSL), Cochlear Ltd (ASX: COH), and Pro Medicus Ltd (ASX: PME) fell dramatically on their 1H FY26 reports.

Let's recap.

Utilities shares led the ASX sectors last week

There are only 21 companies in the ASX 200 utilities sector.

Let's look at the performance of the five largest players by market capitalisation last week.

Origin Energy Ltd (ASX: ORG) shares streaked 10.72% higher to finish the week at $12.08.

The electricity and gas provider reported an underlying profit of $593 million for 1H FY26, down from $924 million in 1H FY25.

Origin announced a fully franked interim dividend of 30 cents per share.

The APA Group (ASX: APA) share price rose 3.89% to $9.07 ahead of the company's earnings release next Thursday.

Mercury NZ Ltd (ASX: MCY) shares fell 2.72% to $5.36 apiece.

The AGL Energy Ltd (ASX: AGL) share price skyrocketed 16.42% to close at $10.42 on Friday.

AGL reported an underlying profit of $353 million for 1H FY26, down 6% on 1H FY25.

The energy retailer will pay a fully franked interim dividend of 24 cents per share.

The Meridian Energy Ltd (ASX: MEZ) share price rose 1.87% to $4.91.

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

Which ASX 200 shares will be on watch next week?

On Monday, JB Hi-Fi Ltd (ASX: JBH) and Bendigo and Adelaide Bank Ltd (ASX: BEN) will release their earnings reports.

BHP Group Ltd (ASX: BHP) will release its 1H FY26 report on Tuesday.

On Wednesday, Santos Ltd (ASX: STO) and Lottery Corporation Ltd (ASX: TLC) will report.

Thursday will be a big day, with four ASX 200 sector leaders releasing their results.

They are Goodman Group (ASX: GMG), Telstra Group Ltd (ASX: TLS), Transurban Group (ASX: TCL), and Wesfarmers Ltd (ASX: WES).

We'll also hear from ZIP Co Ltd (ASX: ZIP), HUB24 Ltd (ASX: HUB), and PLS Group Ltd (ASX: PLS) on Thursday.

On Friday, Mineral Resources Ltd (ASX: MIN) and Megaport Ltd (ASX: MP1) will reveal their numbers.

As for dividends, you can check out which ASX 200 shares go ex-dividend next week here.

The post Utilities outperform as ASX 200 ascends to a 3-month high appeared first on The Motley Fool Australia.

Meanwhile, the benchmark S&P/ASX 200 Index (ASX: XJO) fell 0.49% to close at 8,860.1 points.

Market spirits were dampened by news of lower unemployment, which raised the prospect of an interest rate hike this year.

Seven of the 11 market sectors finished in the red.

Let's recap.

Utilities shares led the ASX sectors last week

There are only 21 companies in the ASX 200 utilities sector.

Let's review the performance of the seven largest players by market capitalisation last week.

Origin Energy Ltd (ASX: ORG) shares rose 7.22% to finish the week at $11.73.

The APA Group (ASX: APA) share price rose 3.21% to $8.99.

Mercury NZ Ltd (ASX: MCY) shares were steady at $5.50.

The Meridian Energy Ltd (ASX: MEZ) share price rose 2.29% to $4.91.

The AGL Energy Limited (ASX: AGL) share price lifted 1.85% to $8.82.

Contact Energy Ltd (ASX: CEN) shares fell 2.56% to $8 apiece.

Genesis Energy Ltd (ASX: GNE) shares increased 1.94% to $2.10.

Energy sector also rises strongly

The ASX 200 energy sector was the second best performer, rising 3.56%.

US natural gas futures skyrocketed last week, and WTI crude oil futures rose 1% amid a persistently softer US dollar.

On Friday, analysts at Trading Economics said US natural gas futures were on track for a weekly gain of more than 70%.

That would be the largest increase among records dating back to 1990.

The analysts said:

US natural gas futures surged past $5.53 per MMBtu, approaching levels last seen in December 2022, as extreme cold forecasts boosted demand expectations and raised supply risks.

Temperatures are projected to remain mostly below normal through February 5 …

A severe winter storm is expected to affect roughly two-thirds of the country, increasing residential and commercial consumption and raising the risk of inventory drawdowns.

At the same time, output is around a three-month low, with part of this week's production decline linked to freeze-offs, particularly in southern regions.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post ASX 200 utilities shares led the market last week appeared first on The Motley Fool Australia.

What did Mercury NZ report?

• Waikato hydro generation rose by 23% to 1,072 GWh for the quarter
• Wholesale spot electricity prices in Auckland averaged $40/MWh, down due to high hydro inflows
• Wind generation up 6% year-on-year; geothermal generation down 9% due to planned maintenance
• 223,000 customer accounts now use two or more Mercury products, up 10% from last year
• New geothermal OEC5 unit commissioning commenced in January 2026

What else do investors need to know?

Mercury NZ's operational performance benefited from national hydrological inflows near record levels, resulting in above-average hydro lake storage. Notably, Taupō storage remained elevated, providing a strong base for future generation.

The company's bundling strategy is paying off, with telco and mobile connections up by 30,000 compared to the same period last year. Commercial and industrial electricity yields were slightly lower, with some contracts repricing to better reflect 2026 forward electricity curves.

What's next for Mercury NZ?

Looking ahead, Mercury NZ plans to finish full commissioning of the Ngā Tamariki OEC5 geothermal expansion by the end of the third quarter. Once online, this project is expected to add 390 GWh of annual generation and boost net output by 46 MW, supporting reliability and renewable supply.

The company remains focused on expanding integrated energy and telco customer offerings, supported by strong hydro reserves and continued investment in renewable projects.

Mercury NZ share price snapshot

Over the past 12 months, Mercury NZ shares have risen 1%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Mercury NZ Q2 update: Hydro powers results, renewables on track appeared first on The Motley Fool Australia.

What did Mercury NZ report?

• Revenue increased by 21% compared to the prior period
• Net profit after tax (NPAT) climbed 29%
• EBITDAF grew 22% year on year
• The company maintained a strong balance sheet
• Final dividend declared, maintaining previous payout levels

What else do investors need to know?

Mercury NZ, a major New Zealand electricity generator and retailer, continues to hold significant market share across hydro, wind, and geothermal energy. The company's recent investments in renewable projects have supported operational growth and sustainability goals.

Customer numbers remain steady, underpinned by stable demand across both residential and business segments. Management also noted ongoing progress in digital transformation, aimed at improving customer experience and operational efficiency.

What's next for Mercury NZ?

Looking ahead, Mercury NZ intends to accelerate its investment in renewable energy generation, further reinforcing its leadership in the domestic electricity market. Management is also focused on long-term value creation, targeting sustainable growth through innovation and enhancing the company's technology platform.

The company has given no specific financial guidance but remains positive about the sector's outlook and its ability to deliver steady returns for shareholders.

Mercury NZ share price snapshot

Over the past 12 months, the Mercury NZ share price has declined 10%, underperforming the S&P/ASX 200 Index (ASX: XJO) which has risen around 8% over the same period.

View Original Announcement

The post Mercury NZ reports revenue and profit growth on renewables push appeared first on The Motley Fool Australia.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) lost 0.27% to finish at 8,580.1 points on Friday.

The utilities sector's bump was a substantial outperformance, with its nearest competitor, ASX 200 materials, up just 0.8%.

This may indicate a shift to defensive shares, given that the utilities sector is known for stable returns and dividends.

Utilities delivered the highest dividends of all 11 market sectors in FY25 at 6.17%.

Last week, US President Donald Trump extended the 90-day reprieve on the full range of US reciprocal tariffs to 1 August.

Trump also stated that a new tariff on imported pharmaceuticals into the US from next year may be set as high as 200%.

This impacted several ASX pharma stocks, including Australia's biggest listed healthcare company, CSL Ltd (ASX: CSL).

The market was also surprised last week when the Reserve Bank of Australia decided to keep interest rates on hold.

The board members were split 6:3, with six voting for rates to stay on hold pending quarterly inflation data due out on 30 July.

Three board members voted for a rate cut.

In a statement, the RBA said:

With the cash rate 50 basis points lower than five months ago and wider economic conditions evolving broadly as expected, the Board judged that it could wait for a little more information to confirm that inflation remains on track to reach 2.5 per cent on a sustainable basis

The next board meeting to discuss interest rates is scheduled for 11-12 August.

Only five of the 11 ASX 200 market sectors closed out last week in the green.

Let's recap.

Utilities shares led the ASX sectors last week

Just 21 companies make up the ASX 200 utilities sector.

Let's review the performance of the seven largest players by market cap.

Origin Energy Ltd (ASX: ORG) shares surged 8.6% to $11.75. The Origin share price reached a 10-year high of $11.78 on Friday.

There has been no price-sensitive news regarding Origin shares since 26 May when the company upgraded its FY25 guidance.

However, two top brokers issued new notes on Origin shares last week.

Macquarie retained its neutral rating but raised its 12-month price target from $10.12 to $10.94 a share.

Meanwhile, Morgan Stanley retained its underweight rating and $9.46 price target.

Shares in ASX 200 energy infrastructure group, APA Group (ASX: APA), fell 0.84% to $8.29 apiece.

On Wednesday, APA announced it had finalised agreements with CS Energy to deliver a natural gas pipeline connecting APA's Roma
Brisbane Pipeline with CS Energy's proposed Brigalow Peaking Power Plant in Queensland.

Mercury NZ Ltd (ASX: MCY) shares lost 0.18% of their value to close at $5.68 on Friday.

The New Zealand-based electricity, gas, and telco services retailer will release its full-year FY25 results on 19 August.

Meridian Energy Ltd (ASX: MEZ) shares rose by 0.18% to $5.42 per share.

The New Zealand-based renewable energy company will release its full-year FY25 results on 27 August.

The AGL Energy Limited (ASX: AGL) share price lost 2.94% to finish the week at $9.58.

Earlier this month, we reported that UBS has a neutral rating on this ASX 200 utility share with a price target of $11.50.

Genesis Energy Ltd (ASX: GNE) shares rose 2.82% to $2.19 apiece last week.

The Contact Energy Ltd (ASX: CEN) share price fell 2.24% to $8.28 on Friday.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post ASX 200 utilities shares outperform: Are investors switching to defensives? appeared first on The Motley Fool Australia.

Utilities shares are generally considered a 'safe haven' investment during market volatility.

The sector is comprised of just 21 companies, most of which are electricity, gas, or water suppliers.

Utilities providers generally have reliable earnings, which makes them a defensive investment during economic uncertainty.

However, the same can be said for ASX 200 healthcare shares, and they went the opposite way last week.

Healthcare was the worst-performing sector of the week, down 3.15%.

Sector heavyweight CSL Ltd (ASX: CSL) played a role in the sector's decline, with the share price falling 6.67% to $239.31.

CSL delivered a presentation at two shareholder information meetings in Sydney and Brisbane last week.

Overall, the S&P/ASX 200 Index (ASX: XJO) virtually moved sideways last week, declining 0.08% to finish at 8,231.2 points.

Nine of the 11 market sectors closed out the week in the green.

The market is continuing its rebound following the US tariff-inspired market dip in early April.

The ASX 200 is now 3.74% above its level before the tariffs were announced in the US on 2 April.

Global markets, including the ASX 200, have settled since the US President announced a 90-day reprieve on the full tariff rollout.

For now, only a 10% baseline tariff applies to all nations except China.

Negotiations between the US and many of its trading partners continued last week.

On Friday, news broke of a deal between the US and the UK on beef.

In a post on Truth Social, the US President said:

The Deal I made today with the United Kingdom is GREAT for our FARMERS and RANCHERS! It's also wonderful for the United Kingdom. Everybody benefits, that's the way it should be!

Let's take a closer look at how the largest ASX 200 utilities shares performed last week.

Utilities shares led the ASX sectors last week

Let's recap the performance of the six largest players in the utilities sector.

Mercury NZ Ltd (ASX: MCY) shares shot 8.45% higher last week despite no news from the New Zealand electricity provider.

The Mercury share price finished the week at $5.65.

APA Group (ASX: APA) shares rose 4.62% over the five trading days to finish at $8.61.

APA presented at the Macquarie Conference last Tuesday. You can check out the company's presentation here.

Meridian Energy Ltd (ASX: MEZ) shares ascended 2.12% to $5.30 apiece.

AGL Energy Limited (ASX: AGL) shares lifted 2.03% to $11.05.

Genesis Energy Ltd (ASX: GNE) shares rose 1.94% to $2.10 apiece.

Origin Energy Ltd (ASX: ORG) shares rose by 1.57% to $11.03.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post ASX 200 'safe-haven' shares delivered divergent performances last week appeared first on The Motley Fool Australia.

Meantime, the S&P/ASX 200 Index (ASX: XJO) fell to seven-month lows as US tariffs entrenched fear and uncertainty into the markets.

Overall, the Australian benchmark index fell 1.99% over the week to finish at 7,789.7 points on Friday.

The ASX 200 is, indeed, teetering on the edge of an official market correction.

What is a stock market correction?

A market correction is defined as a major index falling 10% from its most recent peak.

The ASX 200 peaked at a closing value and all-time record high of 8,555.8 points on 14 February.

It's down 8.95% since then, so we are very close to a technical market correction.

In fact, just one more poor day of trade could take us there.

The US benchmark index, the S&P 500 Index (SP: .INX), officially entered a market correction on Thursday night.

The S&P 500 closed at 5,521.52 points on Thursday, down 10.13% from its all-time high of 6,144.15 points on 19 February.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) entered a market correction a week earlier.

At the time of writing, the NASDAQ is down 13.7% from its record peak of 20,056.25 points on 19 February.

What happened last week?

Fear and uncertainty surrounding how US tariffs will impact global trade and global economic growth continued last week.

We learned that Australia would not receive an exemption on a 25% tariff on steel and aluminium that came into effect on Thursday.

Australian Ambassador to the US, Kevin Rudd, and many Australian Government officials campaigned over many months in the US to get a carve-out given our long-standing friendship with the US, our defence partnership under AUKUS, and the US trade surplus with us.

Meantime, speculation in the US that tariffs will eventually flow through to US consumer prices and weaken demand, potentially leading to a recession, intensified last week.

This followed a TV interview with US President Donald Trump in which he predicted a "period of transition" as the tariffs were rolled out.

As a result, investors continued to sell down stocks in favour of safe-haven assets like gold.

The gold price lifted to a new record high above US$2,990 per ounce on Thursday.

The commodity's rise drove ASX gold shares higher and contributed to the materials sector remaining just inside the green for the week.

Last week, eight of the 11 ASX 200 market sectors finished in the red.

Let's re-cap.

Utilities shares led the ASX sectors last week

Just 22 companies make up the ASX 200 utilities sector.

Here's how the six biggest shares by market capitalisation performed.

AGL Energy Limited (ASX: AGL) shares lifted 5.36% over the five trading days to close at $10.62 on Friday.

Origin Energy Ltd (ASX: ORG) shares rose by 1.81% to $10.38 over the week.

APA Group (ASX: APA) shares increased by 4.57% to $7.67.

Mercury NZ Ltd (ASX: MCY) shares fell by 4.66% to $5.11.

Meridian Energy Ltd (ASX: MEZ) shares lifted by 0.81% to $4.98.

Genesis Energy Ltd (ASX: GNE) shares rose by 1.49% to $2.05.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post Is the ASX 200 on the verge of a market correction? appeared first on The Motley Fool Australia.

But did you know that last year it was ASX 200 utilities shares that delivered the highest dividend returns?

Utilities produce and deliver basic essential services such as electricity, natural gas, and water. 

As we recently reported, the total return of the S&P/ASX 200 Utilities Index (ASX: XUJ) last year was 17.48%.

Dividends made up a considerable 7.05% of that total return — the highest of the 11 market sectors.

That's also well above the long-term average dividend yield of the S&P/ASX 200 Index (ASX: XJO), which is 4%.

So, what's the outlook for ASX utilities dividends this year?

Dividend forecasts for ASX 200 utilities shares

The utilities sector is the smallest of the 11 ASX 200 market sectors. It's comprised of just 22 companies.

In this article, I'll focus on the seven largest ASX 200 utilities shares by market capitalisation.

The following table shows the consensus analysts' forecasts for 2025 dividends, as published on the CommSec trading platform.

I've calculated the dividend yields they represent based on Tuesday's closing share prices.

I have also included the dividend amounts paid in 2024 so you can compare them to the 2025 forecasts.

These ASX 200 utilities shares are listed in order of market cap from biggest to smallest.

As you can see, APA Group is the ASX 200 utilities share expected to pay the highest dividend yield among this group of stocks in the new year.

APA is Australia's largest energy infrastructure company with a $26 billion portfolio of assets.

It owns and/or operates an extensive range of gas, electricity, solar, and wind assets.

The company will release its 1H FY25 results on 24 February.

Broker ratings on utilities shares

Macquarie has an outperform rating on APA shares with a 12-month share price target of $8.13.

The APA share price has fallen by just over 20% over the past 12 months to $6.65 per share.

My colleague, James Mickeloboro, says APA shares are worth considering for income investors while they're down.

He points out that APA is one of the most reliable dividend payers on the Australian share market with almost 20 consecutive years of dividend increases.

Goldman Sachs has a neutral rating on Origin Energy with a 12-month price target of $10.40.

Origin shares have risen by 22.5% over the past year to $10.23 per share.

While positive on the company, Goldman says the Origin share price is fully valued now.

The broker says:

ORG remains well positioned to benefit from Australia's energy transition with the NEM's largest flexible gas generation fleet, strong cash flow from APLNG, and potential upside through Octopus, though we consider the stock fully valued after recent strong performance with risk for negative consensus valuation revisions on higher cash tax payments in FY25.

Goldman Sachs also has a neutral rating on AGL shares with a 12-month share price target of $11.65.

The AGL share price closed at $11.47 yesterday. The ASX 200 utilities share is up 44% over 12 months.

The post Which ASX 200 utilities share will pay the best dividend yield in 2025? appeared first on The Motley Fool Australia.

Last week was one of the most volatile weeks for the S&P/ASX 200 Index (ASX: XJO) in many months.

Overall, the benchmark index fell 2.08% over the week to finish at 7,777.7 points on Friday.

A 1.4% bounceback on Friday saw the index recover some of the week's losses.

The erratic trading last week was largely due to recent economic reports out of the United States.

Initially, a weak jobs report and a soft ISM Manufacturing PMI report put investors into a fear mode that the world's largest economy was slowing faster than we'd realised and was perhaps on the way to recession.

Then overnight on Thursday, a new report showing US weekly initial jobless claims had fallen more than expected quelled investors' worries.

As a result, Wall Street had a good session on Thursday night, which set up a positive day for the ASX 200 on Friday.

Ten of the 11 market sectors closed out the week in the red.

Let's recap a topsy-turvy week.

Utilities shares led the ASX sectors last week

Just 22 companies comprise the utilities sector. Let's review the performance of the six largest players.

AGL Energy Limited (ASX: AGL) delivered the best share price growth of the six biggest companies last week. Despite no official news, the AGL share price lifted 3.64% over the five trading days to $10.82.

Origin Energy Ltd (ASX: ORG) shares rose by 1.84% to $10.49. Last week, the company's only announcement was that it would hold its annual general meeting on 16 October.

APA Group (ASX: APA) shares rose 0.13% over the five trading days to finish at $7.86.

Mercury NZ Ltd (ASX: MCY) shares dropped 5.99% over the week to finish at $5.96 apiece on Friday.

Meridian Energy Ltd (ASX: MEZ) shares fell 3.39% to $5.70 apiece. The company announced it would release its full-year FY24 results on 28 August.

Genesis Energy Ltd (ASX: GNE) shares lifted 0.49% to $2.06 apiece. Last week Genesis announced it would release its full-year FY24 report on 22 August and hold its annual shareholder meeting on 15 October.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

Foolish takeaway

Last month, AMP Ltd (ASX: AMP) chief economist Dr Shane Oliver warned of "a more volatile and constrained outlook with a high risk of a correction in the seasonally weak August/September period…".

He added:

The risk of recession remains high, as the full impact of rate hikes is yet to show up due to normal lags and as the economy has been protected to some degree by pandemic savings buffers.

AMP expects the ASX 200 to finish the year at about 8,100 points.

The post Here's how the ASX 200 market sectors stacked up last week appeared first on The Motley Fool Australia.

As part of this year's Federal Budget, Australian Treasurer Jim Chalmers announced that the government is planning to invest a whopping $22.7 billion in decarbonisation through its 'Future Made in Australia' package.

Given Australia's abundant sunlight and windswept coastlines, the government believes we could quickly grow into a 'renewable energy superpower'. Now, it wants to light a fuse under our fledgling green energy sector.

But Australia isn't alone – governments all over the world are investing in renewables. According to the World Economic Forum, America has invested an eye-popping US$559 billion in clean energy since 2020, and Germany's not too far behind at US$339 billion.

This could make green energy a real growth sector to invest in over the next decade.

Although – a little surprisingly – when it comes to genuine green energy ASX stocks, there aren't too many Australian companies available to choose from.

Sure, Origin Energy Ltd (ASX: ORG) can talk up its solar and wind energy credentials, but it still owns Eraring, Australia's largest coal-fired power plant. And AGL Energy Limited (ASX: AGL) may offer some renewables, but it's also Australia's biggest carbon emitter.

This might leave investors seeking green energy exposure feeling a little downtrodden. But don't despair – the Kiwis have got us covered. There are not one, not two, but three New Zealand-based 100% green energy companies currently trading on the ASX.

Mercury NZ Ltd (ASX: MCY)

First up is Mercury NZ. It is a diversified utilities company that supplies electricity, as well as broadband and mobile services to its customers. All its electricity comes from renewable sources, including hydro, geothermal, and wind.

In its 1H24 results, covering the six months ended 31 December 2023, total revenues jumped by 23% versus 1H23 to NZ$1.6 billion. However, higher operating expenses, mainly driven by depreciation on its new wind farms at Turitea and Kaiwera Downs and higher borrowing costs, drove net profit after tax (NPAT) 27% lower (to NZ$174 million).

Despite the drop in net income, management remains bullish about the company's growth prospects and is investing heavily in new energy assets. In September 2023, the company committed NZ$220 million to expand its geothermal station at Ngā Tamariki and is also planning to significantly increase capacity at its Kaiwera Downs wind farm.

Meridian Energy Ltd (ASX: MEZ)

Meridian Energy is New Zealand's largest energy producer, and it generates all of its energy from renewable sources.

The company owns and operates six power stations in the Waitaki Hydro Scheme, with a further two owned and operated by Genesis Energy Ltd (ASX: GNE) – yet another New Zealand energy company ASX investors can buy shares in (although it also owns the Huntley Power Station, NZ's largest coal-fired power plant). Together, the eight power stations in the Hydro Scheme supply 16% of New Zealand's electricity.

Meridian also owns and operates the underground Manapouri Power Station, the largest hydropower station in New Zealand. In addition to its hydro assets, Meridian also has a significant number of wind farms – plus, it offers solar energy plans where it buys back excess energy from households and businesses with solar panels installed.

Infratil Ltd (ASX: IFT)

Completing our New Zealand-based trifecta is Infratil. It's an interesting addition to this list as it's actually an investment company that owns a number of green energy assets, along with investments in healthcare, digital infrastructure (like data centres and telecommunications networks), and even Wellington International Airport.

Infratil takes a long-term approach to its investment choices, which makes it a good stock to look at for growth investors. It taps into many emerging growth investing themes, from artificial intelligence to an ageing population to (of course) green energy and decarbonisation.

Infratil has a globally diversified portfolio of renewable energy investments, including a 51% stake in hydroelectricity generator Manawa Energy Ltd (NZE: MNW), a 95% stake in Singapore-based wind and solar energy company Gurīn Energy, and a 40% stake in Swiss-based company Galileo, which has operations all across Europe.

The post Top ASX green energy stocks in June 2024 appeared first on The Motley Fool Australia.

That doesn't make sense, right?

Why did ASX renewable shares fall last year?

Wentworth Williamson analyst Martin Marais sums up the problem. He says the renewables industry is currently "incapable of rapidly ramping up production after years of underinvestment".

As a result, "the supply/demand imbalance may take many months, if not years, to fix".

Although climate change is firmly on the agenda in most western nations today, that doesn't mean the renewables sector is in a position to respond to it immediately.

Some of the businesses we refer to as ASX renewable shares are brand new companies, while others are existing energy providers. Both are having to spend oodles of cash to build their renewable energy offerings to meet this sudden demand.

A ramp-up in costs isn't so good when there isn't yet corresponding revenue growth to offset it. And that means profit warnings, according to RC Global chief investment officer Roy Chen.

In a recent article in the Australian Financial Review (AFR), Chen said:

There are some of these clean energy companies that have issued profit warning after profit warning, and warned profit margins could even turn negative because costs are becoming so much.

These are some of the factors making market watchers a bit wary of ASX renewable shares for now.

A snapshot of falling prices in FY22

For this article, we're defining ASX renewable shares as companies producing clean power. Let's take a look at how some of the big players did in FY22.

• The Contact Energy Limited (ASX: CEN) share price dropped 14.5% in FY22
• The Meridian Energy Ltd (ASX: MEZ) share price fell 15% in FY22
• The Mercury NZ Ltd (ASX: MCY) share price tumbled 32% in FY22
• The Infratil Ltd (ASX: IFT) share price lost 6%. (Infratil isn't a power producer but it's a major investor in green energy assets with a market cap of $5 billion. So, it's worth including here)
• Genesis Energy Ltd (ASX: GNE) shares fell 24.5% in value in FY22.

There's no index for ASX renewable shares but the VanEck Global Clean Energy ETF (ASX: CLNE) provides a good proxy. Units in the exchange-traded fund lost 22% in value during FY22.

The post Why did ASX renewable shares fall while electricity prices increased in FY22? appeared first on The Motley Fool Australia.

They span several sectors including resources, materials, and energy. Think lithium explorers, battery producers, electric vehicle manufacturers, clean energy providers… arguably, they're all in the renewables space. But for now, let's just focus on clean power producers.

Power has been a hot topic in the Australian economy of late. Electricity prices have skyrocketed and are contributing significantly to rising inflation, which is currently running at 5.1% per annum.

This problem highlights the urgent need for more renewable energy sources. Not only to lower power costs for consumers but also to support a lurching grid at risk of more frequent blackouts and outages.

So, why did several ASX renewable energy shares fall in June?

ASX renewable energy shares dip in June

Well, let's remember that ASX renewable shares are a relatively young and growing part of the market. And like any growth sector, it will have its ups and downs — and that's what we saw in June.

Mind you, June was a volatile month for ASX shares in general. The S&P/ASX 200 Index (ASX: XJO) lost 8.9% and the S&P/ASX All Ordinaries Index (ASX: XAO) lost 9.5% over the month.

First up, let's look at the broad picture.

Clean energy shares generally form part of the utilities segment of the ASX energy sector. The S&P/ASX 200 Energy Index (ASX: XEJ) fell 0.3% in June and is up 16.9% over the year to date.

There's no index for ASX renewable shares, however, we can look to the VanEck Global Clean Energy ETF (ASX: CLNE) for guidance. It's an exchange-traded fund trading on the ASX and it's chock-a-block full of global renewable energy companies. So it serves as a good proxy for ASX renewable energy shares.

The VanEck Global Clean Energy ETF share price dipped 2.5% in June. Year to date, it's down 9.6%.

Here's how some of the big players performed

Let's look at the performance of the bigger players among ASX renewable energy shares in June.

The Meridian Energy Ltd (ASX: MEZ) share price dropped 3% in June. Year to date, Meridian shares are down 6.5%.

Meridian is New Zealand's largest energy producer and uses 100% renewables. It owns five wind farms, scores of commercial solar arrays, and seven hydropower stations, including the country's largest.

The Mercury General Corporation (ASX: MCY) share price dropped 9.5% in June. Year to date, Mercury shares are down 16.5%.

Mercury is another New Zealand-based green energy provider that uses 100% renewables. The company owns nine hydro stations that supply 10% of the country's electricity annually. It owns five geothermal plants and four wind farms. It's currently building what will be New Zealand's largest wind farm.

The Infratil Ltd (ASX: IFT) share price rose by 0.6% in June. Year to date, Infratil shares are down 7.7%.

Infratil is a different kind of ASX renewable energy share. It's an infrastructure investment company that owns several green energy assets in New Zealand.

Genesis Energy Ltd (ASX: GNE) shares lost 0.15% in value in June. Year to date, Genesis shares are down 6.9%.

Genesis is a leading New Zealand electricity and gas retailer that owns a bunch of thermal and renewable generation assets.

Some ASX renewable shares had a shocker

The Genex Power Ltd (ASX: GNX) share price dropped 14% in June. Year to date, Genex shares are down 32.5%.

Genex is an Australian power generation company specialising in the generation and storage of renewable energy.

Ongoing challenges for ASX renewable energy shares

As my Fool colleague Bernd Struben reported in March, the renewables sector has experienced years of underinvestment, so it's difficult to ramp up production rapidly to meet today's soaring demand.

Plus, many clean energy companies are spending a lot — as you do when you're in growth mode — which is narrowing profit margins.

And it appears ASX investors don't like that, especially when a booming commodities cycle is delivering massive profits to the big resources companies digging fossil fuels out of the ground.

The post Here's why ASX renewable shares slipped in June appeared first on The Motley Fool Australia.

On another day of green markets, materials were the sector crossing the finish line with the best performance with a gain of 2.5%. Following closely behind were solid rallies across tech, real estate, and industrials.

The root cause behind today's strength might be a consequence of US data showing a 0.9% uplift in retail spending last night. Though, tomorrow we will see how markets react to the UK inflation rate hitting a 40-year high of 9%.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Mercury NZ Ltd (ASX: MCY) was the biggest gainer today. Shares in the renewable electricity generator climbed 5.99% despite there being no new announcements hitting the market. Find out more about Mercury NZ here.

The next best performing ASX share across the market today was Summerset Group Holdings Ltd (ASX: SNZ). The retirement village operator received a 5.98% boost to its share price today without any news to fuel the optimism. Uncover the latest Summerset Group Holdings details here.

Today's top 10 biggest gains were made in these ASX shares:

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

And perhaps pay some healthy dividends along the way.

But that's not the sole concern for many investors, who also seek out ASX shares that tick the environmental, social, and governance (ESG) boxes.

Socially conscious investors, for example, want to ensure a company's workers are treated and paid fairly all along the supply chains.

Importantly, they also want to invest in companies with strong environmental awareness, generally avoiding ASX shares involved in the fossil fuel sector.

But 2022 has thrown up a fresh dilemma for ESG investors. One that's also ensnared Australia's super funds.

Maximise ASX share gains or invest ethically?

Energy costs, as you'll know if you've been to the servo lately, have rocketed in 2022.

Crude oil, gas and coal prices were already trending higher heading into the new year, as the global reopening saw demand take-off faster than new supply could keep up.

Then oil-rich Russia's invasion of Ukraine and the resulting sanctions against Russia put a rocket under fossil fuel prices.

Crude oil hit 13-year highs last month and coal traded at all-time highs. Today fossil fuel costs remain at multi-year highs.

And that's seen ASX shares digging coal from the ground offer the best returns on the All Ordinaries Index (ASX: XAO) this year.

The super dilemma

Which brings us to the Your Future, Your Super performance benchmarking initiated by the Australian Prudential Regulation Authority (APRA) in July 2021. The regime applies to 80 MySuper products.

The system scores the super funds' performance against a set of benchmarks. Underperforming funds are publicly named and told to up their game. Those who fail to match or beat the benchmark for 2 consecutive years can be banned from taking on new funds.

And it's this benchmarking, said Jens Peers, CEO of ethical investment fund manager Mirova US, that may discourage super funds from investing in ASX shares involved in renewable energy, as these may be longer-term plays not yet returning big gains.

According to Peers (quoted by The Australian):

The Your Future, Your Super regulation has a short-term focus on single risk management… The world is going to a low-carbon economy. There is no doubt in my mind that fossil fuels will suffer and find it very difficult to benefit financially. Renewables will do a lot better, but there will be times — such as this year — when fossil fuel companies outperform them.

Peers said APRA's benchmarking process encourages super funds looking at ASX shares to "all move in the same direction and take no convictions in their portfolios… If you have this short-term focus on investment returns, super fund trustees and the investment personnel at big super funds may not want to make that commitment."

"Some of these companies may not be sustainable or environmentally friendly," he added. "Some people really care how their money is invested and they want to see that it is being done in a way which will create an impact."

To give you a better idea of the dilemma facing super funds under APRA's benchmarking microscope, here's how ASX shares in renewable energy stacked up against their fossil fuel peers in the first quarter of 2022.

And we'll use the 0.1% gain posted by the All Ords in Q1 as our benchmark.

How ASX shares in renewables compare to their fossil fuel peers

ESG investors, brace yourself.

Throwing our focus on short-term investment returns, the numbers for Q1 aren't good.

First, we'll look at best performing ASX shares in the renewable energy sector.

Mercury NZ Ltd (ASX: MCY) generates more than 15% of New Zealand's electricity and all of that electricity is generated from renewable sources. The company has a market cap of $7.5 billion and pays a 3.2% trailing dividend yield, unfranked.

The Mercury share price lost 2.4% in Q1.

Next up we have ASX renewable energy share Contact Energy Limited (ASX: CEN). The New Zealand-based electricity provider produces some 85% of its electricity from renewable hydro and geothermal stations. The company has a market cap of $5.7 billion and pays an unfranked 4.4% trailing dividend yield.

The Contact Energy share price dipped 1.2% in Q1.

The best performing ASX share in renewable energy was Meridian Energy Ltd (ASX: MEZ). With a market cap of $11.4 billion, Meridian is New Zealand's largest electricity generator. It generates 90% of its energy from hydro with the rest from wind. The company pays a 3.5% trailing dividend yield, unfranked.

The Meridian Energy share price beat the All Ords benchmark, gaining 3.4% over the first quarter.

As for the fossil fuel stocks?

The super dilemma becomes clear when you look at the comparative performance of ASX shares in the fossil fuel space.

In fact, the top 3 performers on the All Ords in Q1 were all coal stocks.

Coronado Global Resources Inc (ASX: CRN) produces metallurgical coal, which is used in the production of steel. The company has a market cap of $3.8 billion and doesn't currently pay a dividend.

Coronado shares gained 61% in Q1.

Also rocketing higher and unlikely to make the list of ASX shares receiving the ESG tick of approval was Yancoal Australia Ltd (ASX: YAL). Yancoal is Australia's largest pure-play coal producer, managing and operating a broad portfolio of coal mines across the country. Yancoal has a market cap of $6.7 billion and pays a 10.4% trailing dividend yield.

The Yancoal share price leapt 71% higher in the March quarter.

Which brings us to the best performing ASX share in Q1, Stanmore Resources Ltd (ASX: SMR). In April 2021, Stanmore Resources was rebranded from its former name, Stanmore Coal, which tells you how the company earns its revenue. Stanmore has a market cap of $1.6 billion and pays a fully franked 4.3% dividend yield.

And the Stanmore Resources share price rocketed 83% in the first quarter.

With APRA running the yardstick over their comparative performance, you can see the ESG dilemma facing fund managers in deciding which ASX shares to add and which to cut from their portfolios.

The post Maximise ASX share gains or invest ethically? The SUPER dilemma appeared first on The Motley Fool Australia.

A notable item for energy-conscious investors was the release of Clean Energy Australia's 2022 report. This showed Australia achieved a new record for its portion of electricity generated by renewables in 2021 at 32.5%.

However, renewable energy advocates were disheartened by the latest federal budget. According to the document, climate spending will tumble 35% over the next four years under the current government.

So, how did it all pan out for ASX renewable shares in the March quarter?

ASX renewable shares present a mixed bag of results

Two companies running on low charge

As with any sector over a three-month period, there are usually winners and losers. Unfortunately for Genex Power Ltd (ASX: GNX) and Mercury NZ Ltd (ASX: MCY), both companies found themselves in the negative return bucket.

Firstly, renewable energy project developer Genex Power suffered a significant fall during the quarter. By the end of March, Genex shares were 27.5% lower than at the beginning of the year. Investors appeared unimpressed by the company's first-half results as it posted a net loss after tax of $4.41 million. However, revenue increased 51% to $11.96 million during the period.

Secondly, Mercury experienced a 2.8% reduction in its share price by the end of the March quarter. The ASX-listed renewable share also unleashed its half-year results in February. Though, the numbers didn't instil much confidence in shareholders. For instance, revenue fell 7.5% compared to the prior corresponding period to $873 million. Likewise, underlying earnings after tax dropped 13% to $20 million.

What about the green winners of the March quarter?

It wasn't all doom and gloom for ASX renewable shares during the recent quarter. On the other side of the fence, Meridian Energy Ltd (ASX: MEZ) managed to gain 4.1%. Yet another New Zealand-based ASX-listed electricity generator, Meridian secured a positive return despite posting a 36% fall in its net profit after tax (NPAT).

Lastly, to find a quarterly return greater than 5% we need to relax the definition of an ASX renewable share. Including companies that produce some of their electricity via renewable assets, as opposed to the majority, we unlock one ASX share that served up a gain of 25.7% during the period.

The company is AGL Energy Limited (ASX: AGL) and it has wowed investors as its share price has continued to strengthen since the beginning of 2022.

Already this year, AGL has rejected two takeover bids from entrepreneur Mike Cannon-Brookes and Brookfield Asset Management. The energy company's board has held firm that it believes it is worth more than $8.25 per share.

The post Rain or sunshine for ASX renewable shares in the March quarter? appeared first on The Motley Fool Australia.

Now, before we continue, there's no single clear definition of what constitutes an ASX renewable share.

Traditionally, you'd expect them to belong to companies providing sustainable energy sources outside of fossil fuels. Say solar, wind, hydro, tidal, or geothermal.

But, these days, you could argue that lithium miners producing a material vital to battery power storage count among that group too. But then electric vehicles need nickel and copper too.

So, while there's merit in that argument, for the purposes of this article, we'll stick to the traditional definition of ASX renewables shares.

How have these ASX renewable shares performed in 2022?

Contact Energy Ltd (ASX: CEN) has a market cap just north of $6 billion. The New Zealand-based electricity provider operates 11 power stations and produces 80-85% of its electricity from renewable hydro and geothermal stations.

The Contact Energy share price is down around 4.3% so far in 2022.

Fellow ASX renewable share, Mercury NZ Ltd (ASX: MCY) has a market cap of just under $7.2 billion. The company generates more than 15% of New Zealand's electricity and all that electricity is now generated from renewable sources.

The Mercury NZ share price is down almost 8% year-to-date.

Then there's small-cap ASX renewable share Genex Power Ltd (ASX: GNX), with a market cap of $197 million. The Aussie-based company is focused on the generating and storing renewable energy, with various solar, hydro, and wind assets.

The Genex Power share price is down 27.5% in the New Year.

How does this compare to ASX fossil fuel shares?

While not all ASX fossil fuel focused shares have shot the lights out this year, many have rocketed higher on the back of soaring prices for everything from coal to oil to gas.

The Woodside Petroleum Ltd (ASX: WPL) share price, as one example, has soared 42% in 2022, with crude oil hitting its highest levels in 14-years following Russia's invasion of Ukraine and pre-existing supply constraints.

Yancoal Australia Ltd (ASX: YAL) has performed even better, with thermal coal prices breaking all-time highs last month. The Yancoal share price is up 61% this calendar year.

What the experts are saying

Addressing the lagging performance of many ASX renewables shares, RC Global's chief investment officer Roy Chen said (quoted by The Australian Financial Review):

It's a combination of some clean energy stocks being driven up the year before, then becoming relatively expensive, while others do have some real issues. But I see the biggest problem being too many of these ETFs, or even active managers in the space, chasing very similar companies. Then when the tide turned, investors deserted the ETFs, causing outflows.

Chen added that while many fossil fuel companies have been waiting to expand their operations, a lot of ASX renewable shares have been spending big to upscale at a time when commodity prices are soaring.

"There are some of these clean energy companies that have issued profit warning after profit warning, and warned profit margins could even turn negative because costs are becoming so much," he said.

And the outperformance advantage could lie with ASX fossil fuel shares over ASX renewables shares for some time yet.

According to an analyst at Wentworth Williamson, Martin Marais:

With geopolitical issues and an industry that is incapable of rapidly ramping up production after years of underinvestment, it is likely that the supply/demand imbalance may take many months, if not years, to fix. In our opinion, demand is unlikely to fall much while there are big supply issues in terms of new discoveries and bringing extra projects online.

At US$80 per barrel for oil and with higher gas prices, we believe that Australian oil and gas producers present good value at their current prices, and accordingly we have invested a meaningful portion of our fund into our best picks among them.

What's next for ASX renewables shares?

But don't count ASX renewables shares out just yet.

According to VanEck Australia senior associate for investments and capital markets Alice Shen (quoted by the AFR):

This trend towards clean energy stocks too will likely gain momentum as energy consumers seek substitutes for fossil fuels and the demand for renewable energy rises to meet climate change carbon emissions targets.

Clean energy assets are typically pro-cyclical and tend to overperform when the economic cycle expands and capital spending on renewable energy increases. We could therefore see clean energy companies are likely to rally in the months ahead as the world seeks cleaner and more reliable supplies of energy.

The post Why are ASX renewable shares struggling in 2022? appeared first on The Motley Fool Australia.

In fact, according to Trading Economics, the price of WTI Crude oil jumped to an 11-year high yesterday, hitting more than $112 per barrel.

Meanwhile, in order to regulate prices, the United States and a number of other countries have agreed to release up to 60 million barrels of emergency oil reserves.

So what does this mean for renewable energy companies?

Let's take a look…

Traditional fuel sources skyrocket

Over the last month, the S&P/ASX 200 Energy Index (ASX: XEJ) has been the best performing sector on the ASX, increasing by 12.75%, with the S&P/ASX 200 Materials Index (ASX: XMJ) coming in second.

At time of writing, the energy sector is up 3.2% so far today.

And in correlation, many traditional fossil fuel companies have been benefitting from the oil and gas price hikes. For example, natural gas giant Woodside Petroleum Limited (ASX: WPL), has seen its share price climb by about 22% over the past month. In fact, the Woodside share price has hit a new 52-week high today of $31.99, continuing to climb after yesterday's milestone.

Similarly, the Whitehaven Coal Ltd (ASX: WHC) share price has hit a new 52-week high today of $3.95. Over the last month, its shares have increased by around 40%.

ASX renewable energy shares not so green

On the other side of the fence, a handful of ASX renewables shares haven't seen the same price gains.

Energy, transport and social infrastructure company Infratil Ltd (ASX: IFT) has seen its shares lift by around 4.8% over the past month. They have also risen by 12.5% over the past 12 months.

It's been a contrasting tale for two other ASX renewable energy shares. Contact Energy Limited (ASX: CEN) shares are trading just over 4% higher over the past month, whereas the Mercury NZ Ltd (ASX: MCY) share price has slipped 0.37%.

As these price movements are significantly lower than fossil fuels shares, some investors may be concerned their environmental, social, and governance approach to investing (ESG) may be coming at the expense of potential profits.

Investors wanting renewable change

However, despite increased demand from traditional fuel sources, some investors are remaining positive about seeking climate change solutions.

Following Woodside's climate report and future target report released yesterday, the Investor Group on Climate Change (IGCC) released a report today, calling these targets "often inadequate, or hard-to-assess".

IGCC director of corporate engagement Laura Hillis said:

For the first time, public companies have a clear and comprehensive picture of what investors want in businesses' plans to get ready for a net zero economy. Australia's biggest superannuation and investment funds have made their expectations very clear, and we think businesses will appreciate that.

This guide should help raise the bar for Australian businesses as they seek to align with the expectations of the market in a rapidly decarbonising world.

Renewable energy expected to rebound

As reported by The Australian Financial Review on Wednesday, BlackRock Investment Institute chief regional strategist Ben Powell says the renewable energy sector is brighter than ever. He suggests the current unstable energy situation instead symbolises a need to transition to clean energy solutions.

This energy transition is ongoing and if anything, some of the vulnerabilities have been made very clear in the last few weeks, and the importance of the investment into the energy transition infrastructure is even clearer.

It's not only a green issue, but also a broader supply issue now. We would see this as an accelerant to the transition towards energy sources of the future because energy sources of the past have shown to be fraught with challenges un the last few weeks.

With that in mind, investors will no doubt be keeping a keen eye on the evolving situation in Europe, and the effect it has on both traditional and renewable ASX energy shares.

The post Are ASX green energy shares losing their appeal amid rising oil and gas prices? appeared first on The Motley Fool Australia.

Another red day for the Aussie benchmark index primarily at the hand of tech shares. In its worst showing since the painful crunch in January, the tech sector lost 5.88% today. The day could have been far worse if not for a solid performance by miners and utilities.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Mercury NZ Ltd (ASX: MCY) was the biggest gainer today. Shares in the New Zealand electricity producer jumped 5.24% amid a broad improvement in sentiment for utilities. Find out more about Mercury NZ here.

The next biggest gaining ASX share today was Genesis Energy Ltd (ASX: GNE). Yet another New Zealand electricity producer enjoying strong gains today on the ASX. Once again benefitting from an improved sentiment, Genesis pushed 4.63% higher today. Uncover the latest Genesis Energy details here.

Today's top 10 biggest gains were made in these ASX shares:

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

So which ASX renewables shares have been climbing the charts lately?

Well, unfortunately one of investors' old favourites of the ASX renewables space in Tilt Energy (ASX: TLT), is no longer around after its New Zealand operations were acquired in full by Mercury NZ Ltd (ASX: MCY) back in August. Its Australian arm went to Powering Australian Renewables, itself a division of AGL Energy Limited (ASX: AGL).

Tilt owns a stable of solar and wind farms across Australia and New Zealand. As we covered earlier this year, it had an amazing performance in FY2021, rising more than 120% over the 12 months to 30 June 2021.

So, how has Tilt New Zealand's new owner Mercury been doing then? Well, not as well, as it turns out. Mercury NZ shares are down close to 5% over the past month. And down more than 10% year to date in 2021 so far.

ASX renewables shares deliver a mixed bag

Another ASX renewables company in Infratil Ltd (ASX: IFT) used to own a stake in Tilt as well. But it relinquished this when the company was broken up and sold. But Infratil shares have done a little better than Mercury shares recently. Even though Infratil is down close to 2% over the past month, it's still given investors a healthy 16% return over the past 6 months.

But let's turn to a renewables company that's been burning up the ASX charts recently. Spark Infrastructure Group (ASX: SKI) shares have been booming in recent months. They are up 33.3% since mid-May and 36.5% over the past 12 months. But this is another company that could be acquired and delisted from the ASX very soon.

This company told investors back in August that it had been approached by a consortium of investors, including Kohlberg Kravis Roberts & Co, the Ontario Teachers' Pension Plan, and Public Sector Pension Investments. These investors put up an offer of $2.95 a share for Spark, which the company has recommended to shareholders. They will vote on this proposal by the end of the year.

All of these gyrations, mergers and excitement show how hot this ASX renewables space is right now. Investors have certainly got a bit of a mixed bag from this sector in 2021 so far, but you can't say it hasn't been a thrilling ride!

The post Which ASX renewable energy shares have been climbing the charts lately? appeared first on The Motley Fool Australia.