Meridian Energy stock trades at NZD 5.41 as Waitaki upgrade advances

Published on 10/07/2026 at 01:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Meridian Energy stock trades at NZD 5.41 on October 7, 2026, while its Waitaki plan targets 120 MW of capacity. Fiscal 2026 cash flow reached NZD 810 million.

Meridian Energy, NZMELE0002S7, Illustration mit AI erstellt.

Meridian Energy (ISIN NZMELE0002S7) was trading at NZD 5.41 on the NZX on October 7, 2026, with a daily change of 0 percent and a market capitalization of NZD 14.3 billion. The company is directing NZD 440 million to NZD 510 million toward a decade-long Waitaki hydro upgrade, giving the stock a clear capital-allocation story.

Waitaki capacity rises to 120 MW

According to NZ Herald on September 30, 2026, Meridian will replace all seven turbines, generators and 21 headgates at the 92-year-old station. Available capacity is scheduled to rise from 105 MW to 120 MW, an increase of 15 MW.

The project is planned for completion in 2036, while the station is expected to remain operational during construction. The spending structure is also important for shareholders: 85 percent is classified as repowering capital expenditure, and Meridian's fiscal year 2027 total capital expenditure guidance remains NZD 370 million to NZD 410 million, according to NZ Herald.

Cash flow rebounds in fiscal 2026

Meridian's fiscal year ended June 30, 2026, produced operating cash flow of NZD 810 million, up from NZD 318 million in the prior year. Net profit after tax rebounded to NZD 130 million, while EBITDAF reached NZD 1,051 million, according to The Globe and Mail in its August 26, 2026 release report.

The comparison shows why Waitaki matters beyond its 15 MW capacity increase. Meridian is committing capital while preserving a dividend framework that adds repowering expenditure back over the asset's expected 50-year useful life, making the timing of cash returns a central investor question.

Stock sits below yearly high

Meridian Energy stock was trading at NZD 5.41 on October 7, 2026 at 11:49 a.m. NZST on the NZX. The price stood NZD 0.64, or 10.58 percent, below the 52-week high of NZD 6.05 and above the 52-week low of NZD 5.16.