Atrato Onsite Energy Share Discussion Threads

[cc2014] 03/10/2024 07:24

No, you are missing nothing rotp. Don't forget the stamp duty.

There's always the risk the deal falls apart. highly unlikely though.

Sold mine first thing for 77.1p. I only had a few, not that I'd had them that long and there was something I wanted to buy with the cash.


(I'm not sure what I think about today, the capital gain is lovely, but it would have been nice if they had waiting another couple of weeks as by then I would have owned more)

[chucko1] 03/10/2024 07:24

It seems some shareholders are so relieved to have made a sudden gain that they cannot resist bringing forward their liquidity event! But yes, 15% or so (although 77p to buy + 0.5% SD)

Seems that 9% ish discount to NAV is where these ITs are throwing in the towel - no matter the underlying assets. Very profitable day for the short term, but one less vector of income (and trading) for the longer term. Might have to buy more SUPR, although SOHO is now in the Atrato stable and I have (2 days ago) added to that.

[riverman77] 03/10/2024 07:20

Can sell at 76.5p - that's way too far off the 80p so will hang on. Always the possibility of a higher bid too.

[return_of_the_apeman] 03/10/2024 07:17

Am I missing something - if you buy these now at circa 76p then you will get 80p back in approx 4 months so an equivalent annual yield of 15% ??

[williamcooper104] 03/10/2024 06:56

That's annoying You can buy Brookfields renewables - BEPC - trades at c2x NAV (last I looked at least)

[the deacon] 03/10/2024 06:55

Nice premium to current SP, but disappointing discount to 'NAV'..

[hugepants] 03/10/2024 06:42

It looks like the price is 80p.

"...a premium of approximately 25.0 per cent. to the closing price of 64.0 pence per Ordinary Share on 2 October 2024 (being the latest practicable date prior to the publication of this announcement); "

[edwardt] 27/9/2024 12:19

32 discount - sub scale -plausible nav - this is a buy - either recovers on its own merit or is merged/ bought out.

[edwardt] 27/9/2024 06:36

6 months out is answer to my question....

[chucko1] 25/9/2024 18:58

As I last looked at it, and considering the duration of the PPAs entered into, ROOF has little more than credit risk for the next decade. On that basis, it seems to have a risk/reward significantly superior to most others at this current price. In fact, I thought something similar at 72p (at a higher level of interest rates to boot), but we are where we are and must analyse accordingly.

I have noted some large round lot sales the past few days, which is perhaps indicative of institutional selling of a sizeable tranche. That and other selling has been going on for many months.

[williamcooper104] 25/9/2024 15:36

Whereas there's plenty of other listed renewable trusts that are basically doing the same thing

[williamcooper104] 25/9/2024 15:35

It's different from most of the other trusts in that it's taking much more of a bond/credit proxy, whereas the others are full of merchant power price risk Would be a shame to lose that focus by diluting it with a generic renewable portfolio

[edwardt] 25/9/2024 14:38

will need to check but is there not a continuation vote soon as well. ripe for a consolidation with another trust imho.

[riverman77] 25/9/2024 11:07

Don't think the share price is quite severe enough to warrant an RNS yet. As others have said the relative weakness is likely due to its small size, which means it won't be of interest to a lot of institutions. Don't really care as happy to pick up a near 9% yield until it rerates. This is one of the lowest risk funds in the sector so looks very good value. DORE is the other outlier that's worth a look.

[ntv] 23/9/2024 16:58

You would have thought there would be some sort of trading update due to the falling share price

[madmix] 23/9/2024 10:29

Yes, I've bought a stake, but there still seems to be a keen seller about. So I'm keeping some powder dry in case they drop further. Sub 60p would be tempting.

[chucko1] 20/9/2024 16:53

Madmix, that is precisely how I see it. It may remain unloved for a lot longer, but I expect to see a further dividend raise in due course, owing to the degree of energy coming on stream. This may, one day, bring additional focus and incremental buyers.

I have been adding, but not proportionate to the decreasing price, as it can still go anywhere from here. Below 60p, and I buy more rapidly.

[madmix] 20/9/2024 11:19

I think there are a couple of factors here contributing to the larger discount than peers like NESF, BSIF, FSFL :

1. The others have been buying back their own shares, mopping up sellers.

2. ROOF's sub £100m market cap makes it more illiquid than the others.

But that creates an opportunity, given the now 30% discount to NAV.

[chucko1] 17/9/2024 17:11

From a market perspective, this one's a bit of an outlier in that it is good quality, but is trading on its all time lows, irrespective of the income certainty.

There has been some keen selling on a number of occasions the past few months, but you would have though it might have bounced a few pence (say to 70p) along with similar bounces in many other ITs of late. Nada.

[williamcooper104] 17/9/2024 15:34

Yep - a 10% net return should be plenty, which implies a share price of c84p Don't think we will get there soon; but we are paid well to wait

[riverman77] 17/9/2024 15:28

Agree this looks very good value - as you say much lower exposure to power prices verus the other renewables due to their long term fixed contracts. Income streams look very secure. Should rerate materially as interest rates come down. DORE also looks good value within this sector.

[williamcooper104] 17/9/2024 15:23

I've just topped up This has much less power price risk than most other renewable trusts, so it's more of a bond proxy Thus the share price should be materially higher than currently is

[faz147] 10/9/2024 09:39

I've bought into ROOF with what is a sizeable position for me.

c.8% divi and a large discount to NAV, well hedged and plenty of growth expected through agreements with Tesco and other blue-chips.

I can see this at £1+ by end of 2025, and plenty of juicy divi's to come in that time!