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Ecofin Global Share Discussion Threads
Showing 126 to 150 of 150 messages
|The NAV has shot up to 134.5p. Probably sterling weakness inspired, at least in part.|
|speed , I'm not sure what the peers are. If you look at the big investee companies that make up 30% of the NAV then they all look to me like big utilities. Electricty, water along these lines. Maybe if you look deeper into the portfolio you will find more companies that look like infrastructure type businesses.|
|What are closest peers to EGL? HICL? GCP? SEQI? Thanks in advance.|
|I see that the EGL board comprises the same 4 NEDs that were also the NEDs in ECWO:
Ian Barby (Non-Executive Chairman of EGL & ECWO)
Iain McLaren (NED)
Martin Nègre (NED & former Non-Executive Chairman of ECWO)
David Simpson (NED)
see pg40 of EGL prospectus for more details - HTTP://www.ecofin.co.uk/eco/uploads/audit_historicalper/Ecofin_Global_Utilities_and_Infrastructure_Trust_plc_-_Prospectus_6_July_2016_CLEAN_UKLA_APPROVE.pdf
All 4 directors have been buying EGL shares since its IPO. According to my calculations based on rns notifications:
Martin Nègre has bought 1,043,511 EGL at total cost £1,309,658
Ian Barby has bought 145,532 at total cost £197,260
David Simpson has bought 65,395 at total cost £88,639
Iain McLaren has bought 20,000 at total cost £24,500
Quite impressive amounts, especially by Martin Nègre.
I am slightly confused re these directors total shareholdings. According to pg54 of the EGL propectus, Directors' Interests in ECWO as at the date of the Prospectus were:
Ian Barby - 291,604
Iain McLaren - 20,000
Martin Nègre - 1,258,371
David Simpson - 65,395
The prospectus states that "On completion of the Issue, these holdings will remain their holdings in the Company assuming that there are no Elections by Directors or otherwise for the Cash Exit. However, such holdings in the Company may differ depending on the number of Elections made for the Cash Exit."
Does anyone know what happened to these holdings as the total holdings (aggregated volume) for each director in the more recent Director/PDMR Shareholding rnses do not seem to include these existing shareholdings?|
|orinocor/SpectoAcc - Thanks for your considerable input. EGL only just come onto my radar so still doing initial research but looks interesting, esp if we get some weakness from the current level. In an ideal world would prefer to join at a 15% rather than 10% discount but perhaps I'm being greedy.
orinocor - re your post #112. I believe Artemis were an existing shareholder. From pg56 of the EGL prospectus - HTTP://www.ecofin.co.uk/eco/uploads/audit_historicalper/Ecofin_Global_Utilities_and_Infrastructure_Trust_plc_-_Prospectus_6_July_2016_CLEAN_UKLA_APPROVE.pdf
"Also, as at the date of this Prospectus and insofar as is known to the Company, assuming no elections are made to take up the Cash Exit and no ZDP Shareholders elect to participate in the Subsidiary Scheme, the following persons will, immediately following the Issue, be directly or indirectly interested in 3 per cent. or more of the Company’s share capital:
Artemis Fund Managers Ltd - 13.29%...
Given that the Company does not yet know the take-up of the Cash Exit or the number
of ZDP Shareholders who will roll over their investment into Shares pursuant to the
Subsidiary Scheme, the Company’s major Shareholders following Admission, may be
materially different to those set out above."
So most likely that the Artemis holdings rns on 29/12 was notifying the market of their EGL shareholding following the spin off from ECWO. Indeed the rns states that the reason for notification was: Other - Spin Off
|Theresa's comments at the week-end hitting sterling which is down heavily against dollar and euro. Good for EGL's net asset value.|
|MPO periodically return cash, and are likely to wind themselves up in 2 years time (but isn't certain as yet).|
|had a look at mpo but there is no divi which is important to me.|
|Had a great run in BTEM & like so many sales recently, regret not hanging on to it!
There's cheaper ITs IMO but I agree with you on the P2P co's (not least P2P itself, which I've twice held & dumped again).
On a discount & value basis - MPO worth a look IMO.|
|Yes and thanks to BTEM I was able to buy as low as 107p. Still cheaper on most metrics than nearly any other mainstream trust I can find. The likes of P2P and RDL may be cheaper but they look very risky.
I must remember never to shares in BTEM.|
|Some decent buying today to be fair. I've enough already.
Haven't seen any evidence that BTEM are out, but any very large trades would be many days delayed.|
|For 2017 i'm expecting a much more normal discount of 7% for a share price of 123p and a 5.2% yield.
Adding on the 4*1.6p dividends to give an annual return of 17p (6.4p + 10.6p) which is 15%.|
|Moving up a little and a big buy showing at 115p. BTEM were below 3% and I think could be fully out now.|
|Lolol @orinocor, that clears that up! :)|
|I'm not counting the christmas and new year period. I'm also not counting the week before that. That trims it down to a week.|
|NAV 130.36p 21/12
132.14p 30/12 (gearing 11.4%)
Not sure why they saw the need to release a 2-day NAV, hadn't noticed it was so close to the previous one.
Not sure where you get the 5% from? Looks like +1.36% over 9 days. The XD will of course drop the NAV, though I'm in it for the income.|
|NAV has gone up 5% in just over a week.
Gearing is only 10%.|
|132.14p for 30 Dec NAV, bit pedestrian considering the gearing.|
|FTSE up 70 points but portfolio stocks fallen back, now flat. Even big companies can be volatile.|
|current online quote is 112.25p to buy|
|the price dropped a bit first thing and I bought more @ 110p|
|US/Canada will open for the new year later but so far this morning for the largest weighting UK/Euro portfolio stocks -
SSE (4.1%) +1.3%
Innogy (3.7%) +0.0%
Engie (3.3%) +0.4%
Iberdrola (3.1%) +0.4%
Ferrovial (3.1%) +1.7%
Suez Environnement (2.9%) +0.7%
Veolia Environnement (2.8%) +0.8%|
|good posts orinocor|
|Super start to 2017 by the big European companies in the portfolio.
Weightings in brackets.
Innogy (3.7%) +0.9%
Engie (3.3%) +0.9%
Iberdrola (3.1%) +0.1%
Ferrovial (3.1%) +1.2%
Suez Environnement (2.9%) +1.5%
Veolia Environnement (2.8%) +1.1%|
|Not bad - but is the bond proxy trade over? If so, where's the growth?
Saying that - bought 25k more yesterday, all under 111p.|