MYR Group has entered a five-year amended and restated credit agreement that increases revolving capacity and adds term loans across U.S. and Canadian dollar tranches. The contractor's share price has climbed 3.28% over the last day and 6.15% across the past week, even after a 90 day share price return that is down 38.37%. Its 1 year total shareholder return of 52.49% and 5 year total shareholder return of 179.42% point to strong longer term momentum that the expanded credit facility could influence as investors reassess both growth capacity and risk. MYR Group now trades well below both analyst targets and some intrinsic value estimates after the steep 90 day slide, with the stock last closing at $288.45 against a narrative fair value of $412. Significant multi year utility contracts, notably a new 5 year master service agreement with Xcel Energy and others in the Northeast and Midwest, are set to expand recurring revenues and improve backlog visibility.
MYR Group IncMYR Group signed a five-year amended credit agreement expanding revolving capacity and adding term loans, a financing event.
Xcel Energy Inc
