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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nextenergy Solar Fund Limited | LSE:NESF | London | Ordinary Share | GG00BJ0JVY01 | RED ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 73.20 | 72.80 | 74.00 | - | 159,923 | 08:02:49 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 66.03M | 48.32M | 0.0818 | 8.95 | 432.48M |
Date | Subject | Author | Discuss |
---|---|---|---|
19/3/2024 08:24 | Well £35.79 per/KW is a good fixed price that is consistent with the existing comparitively high priced forward contracts for the rest of the portfolio that the company has previously negotiated. At a shareprice of 73.5p the current yield is 11.3% and that is before any further increase in the dividend for fiscal 24/25 that should be announced when the year end results are released in June. Also, the shares are currently priced at a discount of circa 32% to NAV as at the end of last month. An update from QuotedData last week stated "NESF is on track to pay 8.35p in dividends, with forecast dividend cover of about 1.3x. Interest rates look to have peaked, which is improving sentiment but there is further to go. We find it hard to comprehend why any stock with a nine-year track record of growing covered dividends in line with inflation would not trade on a much lower dividend yield. NESF also has one of the largest capital recycling programmes of its peer group, which is aimed at freeing up cash to slash debt, fund share buybacks and existing and potential construction projects. Those projects should be both NAV and earnings enhancing. A re-rating of NESF's shares is overdue." | masurenguy | |
19/3/2024 07:17 | 1GW Milestone and 50MW Energy Storage Asset Online> NextEnergy Solar Fund, a leading specialist investor in solar energy and energy storage, is pleased to announce that the Company's maiden standalone 50MW energy storage asset, named Camilla, has successfully begun commercial operations. This is a significant milestone for the Company as it increases NESF's total installed net capacity above 1GW to 1,014MW. Camilla connected to the National Grid in December 2023 and progressed successfully through its final phases of commissioning early this year. Camilla is a 50MW 1 hour lithium-ion battery located in Fife, Scotland, which has been pre-configured for augmentation to 2 hours. Camilla is the first asset to be delivered through the Company's £300m Joint Venture Partnership programme with Eelpower Limited. The Company is encouraged by the recent progress made by the National Grid as it continues to make improvements in the dispatching capability of batteries in the Balancing Mechanism and the introduction of additional reserve products. This is positive for new operating assets entering the market at this point, such as Camilla, as it represents additional revenue opportunities. On 20 February 2024 National Grid ESO published the provisional results of its T-1 Capacity Market Auction for delivery in 2024/25. Camilla successfully bid and secured a contract with a clearing price of £35.79/kW. The contract was secured with a derated capacity of 5.659MW and is expected to generate £202k (£4k/MW on a total capacity basis) of additional contracted revenue for the period 1 October 2024 through to the end of September 2025. The Company's disciplined approach to capital allocation focuses on accretive investment activity, consistent with the Company's investment objective of providing ordinary shareholders with attractive risk-adjusted returns, principally in the form of regular dividends. Michael Bonte-Friedheim, Founding Partner and CEO, NextEnergy Group, commented: "I'm delighted to confirm that Camilla's energisation increases NESF's total installed net capacity to over 1GW, alongside the recent energisation of NESF's first two international solar co-investments. Expanding into energy storage complements NESF's existing large portfolio of solar assets on a standalone and co-located basis and provides multiple diversification benefits for shareholders." | masurenguy | |
17/3/2024 17:14 | So what do you think about a continuation vote? Would you vote to continue the fund or to gradually sell off the assets? Albeit the latter will take a long time. | unastubbs | |
17/3/2024 09:22 | SpectoAcc - this is a useful website; A quick copy&paste gives the following; Annualised gross returns in $ over one, three, five and 10 years to Jan 2024 1 year 3 years 5 years 10 years MSCI Alt Energy −34.2% −20.3% 4.10% 2.20% MSCI World 17.60% 8.60% 11.90% 9.70% | fordtin | |
17/3/2024 08:07 | Brilliant table if you skim down it - won't format, but: Gross returns in $ from Jan 2009 to Jan 2024 MSCI World 453% MSCI Alternative Energy −24% +453% vs -24% look better in bar graph form. | spectoacc | |
17/3/2024 07:39 | www.sharesmagazine.c According to this (excellent) article: August - NextEnergy Solar continuation vote I didn't know about that so thought I would post. Apologies if it has already been mentioned :) | unastubbs | |
16/3/2024 11:17 | Energy storage in the UK are making paltry returns … see GSF Gore Street … in part down to UK’s reliance on gas to fill in energy gaps as apposed to battery storage and poor switching methodology. The sector has also been hit by “woke” criticisms in favour of fossil fuels … …11% yield covered 1.3x albeit lower next year as electricity prices fall with gas prices suggests a rally is some way off … but with US gas at 30 year lows in real terms … I’m trading the gas commodity whilst holding here. | keith95 | |
15/3/2024 09:21 | same Tag57 :( | unastubbs | |
15/3/2024 09:14 | LG, I am in the same boat, in fact I have too much in NESF at an average price of £1+ unfortunately. | tag57 | |
15/3/2024 08:53 | Not at all, but it is an issue that has been raised by others. My only concern is that I would like to buy some more but I am maxed out. | lord gnome | |
15/3/2024 08:05 | LG - do you have divi cover concerns? NESF state they have forecast cover of 1.3 times for 2024 but assume they would already include this energisation in their expectations. | tag57 | |
15/3/2024 07:57 | Today’s announcement of energisation of the Spanish and Portuguese projects should help dividend cover concerns. | lord gnome | |
11/3/2024 13:28 | New QuotedData research note... High- and growing-income opportunity - | speedsgh | |
06/3/2024 12:19 | From 29 Feb RNS: Dividend: · Total dividends declared of 6.26p per ordinary share for the nine months ended 31 December 2023 (31 December 2022: 5.64p). · On track to achieve target dividend of 8.35p per ordinary share for the year ending 31 March 2024. · Forecasted target dividend cover remains c.1.3x for the year ending 31 March 2024. · Total dividends declared since IPO of £333m or 65.7p per share. | wassapper | |
04/3/2024 14:03 | Is the dividend covered. I'm not sure? It's clearly covered now as NESF hedged forward power pricing for this year and next at really good rates. But going forward once they fall off is it covered? It looks a bit open to question to me. And covering the dividend means they are eating their own assets, not putting anything aside to replace anything. | cc2014 | |
29/2/2024 17:51 | Certainly explains the move from 100 to 75p... question near term is where they will stop... have to disclose each time they pass a round % ownership number... | shareideas1 | |
29/2/2024 17:11 | Artemis dropped below 10% yesterday. Wonder if they were also responsible for today's closing volume. | fordtin | |
29/2/2024 14:48 | To be fair it was only 2p of enthusiasm and that might actually have bedn the mm’s trying it on very mildly ! | yump | |
29/2/2024 13:19 | Enthusiasm based on the rns didn't last long, I wonder instead if appreciation will grow over time that the excellent dividend remains well covered, NAV is clinging on, etc. A declining future power price outlook is balanced by reducing inflation? | marktime1231 | |
29/2/2024 12:19 | Masurenguy, I think it may take more than a few pence on NAV to get this share price moving up. Needs a change in sentiment for the whole sector. Hopefully this will come with the expected central bank rate course later this year. I am already fully loaded otherwise would be looking to invest further at this yield taking into account management expects to have the divi fully covered on an ongoing basis. | tag57 | |
29/2/2024 08:13 | Seemed a decent update to me, unfortunately my av purchase price is above £1+ but continue to reinvest the divi at these prices. Looks like we should expect further capital recycling in the next month or two - from Chair “ Our Capital Recycling Programme is proceeding as planned and we expect to update the market in short order” | tag57 | |
29/2/2024 08:03 | Yeah this and the share price of other renewables will wake up at some point this year. Good luck all 👍🏻 | tuftymatt | |
26/2/2024 23:00 | Three interesting overviews of relevant stuff: | rambutan2 |
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