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Share Name Share Symbol Market Type Share ISIN Share Description
Ecofin Global Utilities And Infrastructure Trust Plc LSE:EGL London Ordinary Share GB00BD3V4641 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.00 -2.29% 213.00 213.00 215.00 220.00 213.00 220.00 308,929 16:29:47
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 8.5 6.7 6.0 35.6 229

Ecofin Global Utilities ... Share Discussion Threads

Showing 251 to 274 of 325 messages
Chat Pages: 13  12  11  10  9  8  7  6  5  4  3  2  Older
Yes Ian Cowie did well to buy @152p last week! Price/NAV.
Still cheap on a NAV basis IMO. 175.11p last RNS, & been on a tear.
Well, the Sunday Times puff doesn't seem to have done any harm here this morning(so far!).
NAV 174.19 - that’s a discount of 14%. Not bad for a trust which has produced a total return of 18% over the last 12 months. I continue to reinvest the 4.3% yield at that level. Ly concentrated holdings and fee too expensive, but it is delivering.
Now £1.63p like a rocket well for EGL anyway excellent .
NAV up to £1.59 - have to say, didn't expect it to be doing so well. It usually just sits there, on a nice yield, but with little to no capital appreciation.
Yes NAV been doing v well. Let me know if you find one with a lower charge, that does the same thing - I couldn't. May be a cheaper Unit Trust rather than IT knocking around.
NAV looking good £1.55 but with 95% of investments in utilities outside the UK it is to be expected EGL will outperform UK based utilities with mr corbyn and macdonald looking to win the next election. The charge is too high though 1.25% will look for one with a lower charge with a view to selling here .
Yes, agreed. Poor performance. I see ECOFIN has been acquired by Tortoise in the US. Effectively a white flag hoisted I suspect given they are significantly smaller than they once were. It will be interesting to see whether Tortoise have any better plans. What I always remember about ECOFIN is their large holding in Fulcrum that they threw the towel in at a loss. I multi-bagged on the same investment and bought at 7.5p rather than 15p. Overall, they swap and change too much and flip flop between one utility and another. Need more of a buy and hold approach. Poor, but still have a small holding.
Strong investment proposition? I've owned these for about 10 years and never been in profit.
Acquisition of Ecofin Ltd by Tortoise Investments - HTTPS:// Ecofin Global Utilities and Infrastructure Trust plc ("the Company" or "EGL") announces the acquisition of its Investment Manager, Ecofin Limited, by Tortoise Investments, LLC. Tortoise Investments, based in Kansas City, owns a family of investment management firms (collectively "Tortoise") which manage approximately US$20 billion including five New York Stock Exchange listed closed-end investment funds. Tortoise invests in essential assets and services which serve fundamental needs in society and clients' portfolios, such as diversification and income. "Tortoise should prove to be a great resource for EGL as it has important expertise managing closed-end funds in the US with a strong focus on income distribution. Tortoise's experience investing in energy infrastructure will bring valuable additional insights, especially in expanding our research on the North American investment universe," said David Simpson, Chairman of EGL. "We are also pleased that the day-to-day management of the Company's portfolio will remain the same." Mr. Simpson's comments were echoed by Jean-Hugues de Lamaze, Senior Portfolio Manager for EGL. "We look forward to joining the Tortoise team. Tortoise's long history investing in energy infrastructure will complement our broad infrastructure expertise and research." Kevin Birzer, Chief Executive Officer of Tortoise concluded: "We are thrilled to expand our focus globally and delighted that Ecofin's talented team will be joining Tortoise. We are very committed to helping Jean-Hugues and the rest of the Ecofin team continue to deliver a strong investment proposition and superior client service to EGL shareholders. Our culture is one that thrives on diverse ideas, viewpoints, opinions and backgrounds and the addition of our newest team members in London aligns perfectly with that mission."
Dividend Declaration - HTTPS:// The Company announces that the Directors have today declared an Interim Dividend for the year ended 30 September, 2018 in an amount of 1.6p per Ordinary Share. The Interim Dividend will be payable on Friday, 30 November, 2018 to holders of Ordinary Shares on the Register at the close of business on Friday, 2 November, 2018 (ex-dividend Thursday, 1 November, 2018).
@jonwig - EFR took the cr*p, ie Lonestar (which nearly went bust but went on to do well), water rights, some unlisted, Menhaden Capital stake etc. EGL took the good stuff but had a tough first 6 months where they underperformed badly, not helped by gearing. They've come back well, and sit at a decent discount with a decent quarterly yield. If there's one negative it's the total charges - too high IMO. Both NAV & share price are more volatile than you might expect.
Thanks - I held ECWO at one time then lost track of it.
And coincidentally - the other part (EFR) is finally in its wind-up endgame, delisting the week before last. I've quite a few EGL but find the NAV more volatile than I'd expect.
jonwig - Thanks for the QuotedData link. EGL emerged out of ECWO in 2016... HTTPS://
Quoted Data have produced a report: Https:// Is this the old EM trust in a new incarnation?
Portfolio Update (July 2018) - HTTP:// Manager’s comments: Political turmoil and ongoing Brexit-related uncertainties curbed the UK equity market’s progress during an otherwise strong month for equity markets. Global equity markets wavered when Trump raised the stakes in his trade war but, notwithstanding, the MSCI World Index rose 3.7% during July (total return in £). In the UK, expectations were scaled back for a near-term interest rate rise, helping sterling to a 10 month low against a US dollar which has been strengthening since April. The US economy registered robust growth in Q2, chivvied along by fiscal stimulus put in place earlier this year, and the 10 year benchmark government bond yield rose about 10 bps to 2.96% (reversing June’s decline); UK and German 10 year yields also increased (to 1.35% and 0.45%, respectively) with central banks generally reiterating a measured pull-back from easy money policies. Utilities in Continental Europe outperformed strong local markets but the opposite was true in the UK and the US where the sector lagged behind the broad averages by some margin in July. The MSCI World Utilities Index rose by 2.6% in sterling terms (2.1% in local currency (USD) terms). UK utilities declined by 3.2%, pressured by chaos in the Tory party and despite the £1.45bn bid for John Laing Infrastructure Fund (JLIF) at a 24% premium to the last share price before the announcement, while US and Continental names rose by 1.9% and 4.4%, respectively (all total returns in local currency). The Company’s NAV increased by 2.6% in July driven primarilyby gains in the Continental European portfolio. Power generators EDF, RWE and Draxperformed particularly well (+9-15%) as analysts revised their expectations for the impending first half results season in view of the strength this year to date in commodity prices (coal +3.5%; UK gas +44%; CO2+83%) and forward power prices (Germany +14%; France +7%; UK +36%). EDF’s results announced at month-end were indeed better than consensus forecasts; pricing conditions had improved, cash flow generation was strong, and guidance has been gently increased. UK utilities, apart from Drax, were weaker across the board further to the recent and unpopular increases in electricity and gas tariffs which reflect the companies’ higher energy supply costs. A flare-up of turmoil in the ConservativeParty was unhelpful too. In the North American portfolio, Williams Companies performed well given the commodity price backdrop, and so did Covanta, the sustainable waste management company which reported a very solid quarter, higher volumes and a jump in free cash flow. Yieldcos were the only weak link: Terraform Power surrendered the last few months’ share price gains and Pattern Energy’s share price dropped when the new Ontario government cancelled some new green energy projects mid-month. As it became clear that existing projects should not be affected by the new policy, Pattern Energy’s shares recovered fully by month-end. Notwithstanding, the position was sold and replaced with Public Service Enterprise Group (PEG). We appreciate the combination of PEG’s cash flow rich power generation segments with its regulated businesses which are growing faster than average. Although the portfolio does not have a formal benchmark, the performance of the Company’s NAV is naturally compared with the MSCI World Utilities Index. Although EGL’s NAV and the MSCI World Utilities Index both gained 2.6% last month (total returns), it is worth highlighting that the Company’s portfolio has a lower volatility profile than the MSCI World Utilities Index –the beta is 0.85 –so the Manager generated 40 basis points of beta-adjusted alpha in July.
Dividend Declaration - HTTPS:// The Company announces that the Directors have today declared an Interim Dividend for the year ended 30 September, 2018 in an amount of 1.6p per Ordinary Share. The Interim Dividend will be payable on Friday, 31 August, 2018 to holders of Ordinary Shares on the Register at the close of business on Friday, 3 August, 2018 (ex-dividend Thursday, 2 August, 2018).
Good spot. I like it.
Half-year Report - HTTPS:// from the Chairman's Statement: Dividends The Company paid dividends totalling 3.2p per share to shareholders during the half-year to 31 March, 2018. At an annualised rate, this represented a dividend yield of 4.9% based on the NAV at 31 March, 2018 and 5.6% based on the share price at the same date. The Board continues to monitor the income generated by the portfolio and the net income available for distribution with a view to a progressive dividend policy. from the Investment Manager's Report: Outlook The global utilities sector has underperformed the broader equity markets for the past year and relative valuations of many companies in the global sector are very low by historical standards. These low valuations are, we believe, largely attributable to investors favouring cyclical companies, which benefit from strong economic growth, over companies they perceive as defensive, such as utilities. The current low valuations in the sector prevail at a time when the fundamentals of the sector are improving and corporate activity is on the increase. We forecast that earnings will increase by 8% per annum in our sectors in Europe over the next 3 years, higher than the market average; that rate will be closer to 6% per annum in the US which will, in all likelihood, be lower than the market's tax reform fuelled growth in the near-term. Based on our analysis of free cash flows, we have recently increased the expected dividend growth profile of the Company's portfolio to 6.8% per annum (from 6.1% per annum) through 2020. Many diversified multi-utilities - particularly in Europe - are restructuring their businesses to focus on core activities. Companies are also showing more financial discipline and free cash flows are increasing across the sector. As a result, we believe that many utility and infrastructure companies will increase their dividends faster than the market expects. With uncertainty about the outlook for economic growth and markets likely to increase over the coming months, we believe that the utility and infrastructure sectors should provide investors with good returns on a total return basis over the longer-term.
Aye I sold a load at 122p, regretting that now :)
Can someone please beat the share price back down to the 115p area. Need to add to my holding but I want a wider discount than is currently being offered.
Took that opportunity to make a rare sell, tho £ weakness on UK GDP figs should have boosted NAV a touch.
Chat Pages: 13  12  11  10  9  8  7  6  5  4  3  2  Older
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