Share Name Share Symbol Market Type Share ISIN Share Description
Blackrock Energy And Resources Income Trust Plc LSE:BERI London Ordinary Share GB00B0N8MF98 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.40 -2.46% 95.20 491,112 16:35:25
Bid Price Offer Price High Price Low Price Open Price
94.80 95.60 98.00 95.00 98.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 5.64 4.95 3.97 24.0 110
Last Trade Time Trade Type Trade Size Trade Price Currency
16:29:45 AT 1 95.00 GBX

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Date Time Title Posts
08/6/202120:16BlackRock Energy and Resources Income Trust PLC249

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Blackrock Energy And Res... Daily Update: Blackrock Energy And Resources Income Trust Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker BERI. The last closing price for Blackrock Energy And Res... was 97.60p.
Blackrock Energy And Resources Income Trust Plc has a 4 week average price of 95p and a 12 week average price of 88.60p.
The 1 year high share price is 110p while the 1 year low share price is currently 54.60p.
There are currently 115,720,349 shares in issue and the average daily traded volume is 312,314 shares. The market capitalisation of Blackrock Energy And Resources Income Trust Plc is £110,165,772.25.
marktime1231: There was only 1.13p of cash in the kitty, so no wonder the dividend remains pegged at 1p. I still can't work out the rate at which BERI is accruing income, what it holds in cash when declaring NAV could be income net of investments/divestments and fees. I suppose you could work out the flow of income from the underlying assets, but since BERI must be on top of this number why don't they report it as a key fact every month / quarter. I had a quick look at a couple of their periodic reports and couldn't spot the answer straight away. The decision whether to stay overweight in BERI is binary on the chance of a dividend improvement, give us a clue please.
marktime1231: BERI continuing to issue shares from Treasury at a small premium to NAV. A sign that there is strong institutional investor demand, and that the lull in commodity prices caused by factors such as China trying to suppress its own futures market is seen by those buyers as a temporary lull, the drivers of underlying NAV expected to resume upward progress shortly. Around 2.85 million shares still available, this is really good for BERI economics. The effect is to hold back the BERI share price premium for the time being, while providing the manager with fresh funds to invest for an immediate value gain on paper, hopefully income-enhancing while there are opportunities yielding over 5.25%. In the last supercycle BERI (BCI then) hit 150p, but I think that was driven by Brent in a $100-125 band providing oil majors with distributable surplus so BERI could sustain a 1.5p quarterly dividend. This time BERI is less exposed to an oil boom, it has most exposure to conglomerated iron and copper miners. Get the feeling that an increasing shift to what it calls "energy transition" is not going to immediately boost cashflow. If we don't get a signal about improving the payments soon it will make sense to trim and cycle into higher yielders. Could we see 110-120p this Summer ... well its down to big bets on CVRD/Inco, BHP Billiton and RTZ, so the bet is on continued demand for iron and copper at historical high prices. Oldman Sacks is convinced that there is a short- and medium- term structural supply shortfall in industrial metals at current rates of global growth recovery. How exciting.
marktime1231: Held NCYF for some time, its current yield is barely covered and not sustainable, something they have already admitted in recent reporting will need to be rebased in the next year or two. Still holding while the NAV and share price slowly recover from the covid bath, approaching 60p I will move on unless they consolidate with another similar IT to give them scale. Rather like IPE and CMHY are now doing, the new entity not super-exciting levels of high yield but ones you can retire on. Trading small margin cycles is not my game usually, until there is a compelling opportunity like which just happened with BERI. Besides, we can usually see what drives BERI price but I have no idea what drives NCYF or its underlying holdings, why its value has been so slow to recover compared to similar debt ITs etc. Sustainability? Inflation?
marktime1231: You have timed that very smartly city well done, I was looking to do the same but was too greedy at both ends. China prices for iron ore seem to have stabilised after a recent sharp fall which I think may just have been correcting a bubble caused by the return from a week of early May holidays. The effect caused quite a ripple through global industrial metal miners. Stand back a bit and commodity prices are still at the top of a steadily rising curve. Looking for the next opportunity to take some BERI profit and apply the proceeds to somewhere with better yield over the long term. I don't suppose BERI are too interested in a return to 1.25p quarterly dividends, they are using surplus cash to shift into the green transition and would want to accumulate a sigificant income reserve first. On the other hand, if the BERI price does return to the heady heights of 125p and up then the yield here might start to look a bit miserly.
marktime1231: Surprised that BERI stepped down so far today, it has lost the recent premium gain over NAV at a stroke. Commodity prices are still soaring despite global markets taking a deep knock in every sector for reasons which are not easily explained. I suspect a strong bounce in big miners to follow and we will see BERI soon testing 110p again, although I suspect it will temporarily be regretting buying into the green transition when prices were peaky.
jfinvestments: I've been investing in BERI for a while and it's been discount to nav and around 70p average share price So it isn't usual. Can understand you wanting to sell out here. if you look back to after the crash and it spiked up gradually and then fell over the next decade. So I am hoping this cycle repeats. I won't be buying anymore over 100p however. I think it will hover around 95-110p range at times. Opportunity to buy still ahead I'm sure.I'd hope the 4p dividend increases, however I'm not convinced it will.
kenmitch: It doesn’t merit much discussion but I agree with carpingtris. Those of us who bought BREI at the bottom are getting a 10% yield. Sometimes shares investors bought end up paying an annual dividend of 100% and sometimes much more than that. An extreme example is Next. Anyone who bought Next at rock bottom 6p years ago was getting multiples of their buy price back in dividends ahead of Coronavirus. I always go for the yield on my buy price and not the yield at the current share price. E.g if the share halves after my buy and the 5% dividend is held then my yield is still 5% but it’s 10% for new buyers. Point taken that there are plenty of shares and Trusts paying bigger dividends than BREI at current prices, but imo so what. It’s what my dividend yield is that counts.
marktime1231: Suppose it depends how you do the sums, but no! Getting 8% on the amount staked is not 8%. The yield is now 4.2%. I could sell all my BERI to buy EAT or SMIF or NCYT or SWEF or SHIP or GRID or RGL or ... and be getting 6% yield. So holding BERI means missing out unless there is growth out-performance or dividend progress on the way.
marktime1231: Wondering what scope BERI have to start improving the dividend, which back in 2016 was a full 1.5p per quarter before being reset to the 1p of the last five years. At the moment the 1p quarterly dividend is well covered, there is a spare 0.7p in cash but I can't work out the rate-per-share at which it is receiving income. I suspect management are concentrating on rotating into green energy stocks and not so focussed on shareholder returns. It doesn't have to step straight up to 1.25p or 1.5p per quarter, a smaller index to 1.1p would be a signal of better things to come. Otherwise we are sitting on a terrific capital gain since the share price recovered from 50p to 95p, but yield of only 4.2% and shrinking is looking pedestrian. There is more gain to come if you believe the bullish outlook for copper but I am wondering if our money could be working harder to provide income, in EAT where there are also gains to be had or SMIF supplying a steady stream of monthly paydays, both yielding over 6%.
llef: I heard on CNBC yesterday, that the US Oil producers sub-index was close to dropping below the level it started 2010. Given BERI distributes almost all its income, it's a strong headwind for the BERI share price to have overcome historically. (That underperformance is the main reason I'm holding here - I'm hoping for some mean-reversion to take place).
Blackrock Energy And Res... share price data is direct from the London Stock Exchange
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