Eneraqua Technologies Share Discussion Threads

[rivaldo] 02/3/2022 08:39

Finncap have retained their 425p price target and 25.9p EPS forecast for this year.

They see the £3.8m cash pile rising to £13.4m at the end of this year - though I'd expect to see an acquisition by then using that cash.

They summarise:

"The group’s year-end trading update confirms that revenues, adjusted EBITDA and cash are all in line with expectations for FY22 set at the IPO. It has been a record year, with revenues more than doubled and having acquired the remaining share of its water flow IP HL2024. H2 trading has been strong, with a number of new contract wins achieved, further boosting the strong order book. No change to our forecasts or 425p price target, offering strong upside to the current attractive valuation."

"Valuation.

We initiated coverage one month post IPO in December with a target price of 425p, based on a target FY23 P/E of 16.4x and FY24 P/E of 15.9x, or an EV/EBITDA of 12.4x followed by 11.4x. This continues to offer significant upside to the current level on a FY23 P/E of 10.8x and FY24 P/E of 10.5x, as such we believe the group is significantly underrated and looking cheap versus its peers, with strong growth prospects driven by decarbonisation and efficiency agendas; market drivers that have come increasingly into focus as energy prices rise."

[rivaldo] 02/3/2022 07:25

An encouraging year end trading statement out today - nicely in line with expectations at IPO, but more importantly looking good for this year.

Finncap before today had a 425p price target. Historic EPS should be around 17p, but this year is forecast at 25.9p EPS, which puts ETP on a very cheap multiple.

Particularly with an almost £4m cash pile and rich growth prospects. And of course being at the heart of the ESG transformation:



"It has been a record year for Eneraqua, with the business more than doubling revenues, completing on the acquisition of the remaining share of its water control flow IP, and culminating in our AIM IPO.

"We had a strong second half to FY22 in revenues, profits and orderbook. The strength of our decarbonisation and water efficiency solutions is underlined by a number of contract wins. The underlying drivers of our end markets are accelerating, and we are confident in the growth prospects for both our Energy and Water businesses."

[rivaldo] 11/2/2022 16:14

Glad to see someone just bought a meaningful amount instead of all those teeny-tiny trades - 2,000 at 284.9p.

[rivaldo] 08/2/2022 15:34

All buys today - huge demand!

That's, er, three transactions of 3 shares, 1 share and 1 share, all at 286.9p.

Answers on a postcard to......

[rivaldo] 04/2/2022 09:01

Hi mginvestor, encouraging to see you buying in here. I agree - ETP seem to have high forward visibility, and assuming they achieve forecasts their growth rate will be extremely strong and leave them on a very low rating.

[mginvestor] 03/2/2022 16:10

Hi Riv,

I've been buying since their TU in Dec and declared it today:



I had to resist buying it as a larger position (currently just over 5% of portfolio) because it is so illiquid.

It just seems too cheap based on FCs which are pretty much already in the bag for FY22 and even their FY23 revs must be more than 60% secured by now surely.

We should get a trading update hopefully early next week

[rivaldo] 03/2/2022 15:51

A sudden surge. The full trading update is due this month after the "trading comfortably in line" update in late December.

[balcony] 24/1/2022 12:08

Solid as a rock today.

[rivaldo] 18/1/2022 16:07

Bought in here recently. Hoping it consolidates for a while....

[edwardt] 23/12/2021 15:43

This looks like it might blow hot ..

[rambutan2] 16/12/2021 16:31

rns search:

[tomps2] 24/11/2021 09:24

Eneraqua #ETP IPO'd 21.11.21. Energy and water efficiency. Provides turnkey heating systems with high efficiency gas or ground/air source heat pump solutions. UK only at the moment looking for international expansion. Slater took 5%, management still have a large stake. Admission doc is on their website but took me a while to find.

Video:

Podcast:

[simon gordon] 22/11/2021 09:08

-IPO price 277p

[brado] 23/5/2002 22:07

Can't understand?
I agreed to sell to Shell and the purchase was completed today, at 725.

[alexandrews] 16/5/2002 00:03

Does anybody know why the market bid for ETP has been popping above the 725p level, which is the amount offered by Shell?

Alex

[diydan] 15/4/2002 09:46

Still a bit confused watching big players selling small amounts of there stock to shell but still holding most of them I would have thought the big players would have taken the cash unless they think there is a chance of a counter bid. Looks very doughtful to me but who knows?

[365] 12/4/2002 17:35

Shell have 15% already, I think a counter bid is more unlikely now. I'll wait unil end of next week and see what Shell's holding is by then, before looking to close my position.

[diydan] 08/4/2002 00:50

365
Time must be limited for other bids as Shell now have over 11% of stock. If there is to be a counter bid it must come soon? Do you know the time scale for Shells bid to be complete and Small holders to get there offer forms or do we have to wait for them to get 90% of stock?

[365] 07/4/2002 11:27

Not so quick guys..I'm holding still...following extract from Sunday Times article:-

Shell's bid has confused more than a few analysts. It gives Shell the position of operator in key North Sea fields in which the two are partners, and there will be some benefits from getting together in Brazil and Norway. But as one industry executive pointed out, there is no compelling fit between these two companies. That raises the question of whether there will be a counter-bid.

"I was surprised they were even interested because of all the companies which could have claimed synergies they were certainly not the strongest. There are not a lot of overlapping operations and therefore not a lot of scope for cost reductions," he said.

"There are clearly overlaps with others such as BP and ENI and I think with companies in the US. This bid starts a process and we will see what happens - but it is not necessarily the end of the story."

None of these criticisms appear to faze Philip Watts, Shell's chief executive, who has been on an $8bn buying spree. Days before the Enterprise bid emerged Shell announced that it was to buy Pennzoil-Quaker State, a US lubricants business, for $3bn.

The group has also acquired Fletcher Energy in New Zealand and McMurray, a North American gas producer. In Germany Shell is buying the DEA petrol station chain previously owned by RWE and it snapped up the Texaco refining business in the US.

Shell may well lose Enterprise to a rival bidder such as ChevronTexaco or ConocoPhilips of the US. But for Enterprise it is still the end. The spin is that Hearne is too mindful of shareholder value to be emotional about losing the business he created. Hearne himself is saying nothing at all.

Laidlaw, who walks away from the deal with a handsome £4m payoff, must have known by Christmas that his stay at Enterprise would be a short and eventful one. "We have got a good deal for shareholders and they own the company. It is sad to see the end of the remaining independent European oil company.

I would say it's not the end of the action, just yet!

[bionicdog] 03/4/2002 19:00

i hereby abandon this thread as i sold all of my holding first thing this morning. can the last one to leave please turn out the lights :o)

[venomousviper] 03/4/2002 15:51

ENI were quibling about 650p a share let alone the minimum of 800p now required
to counterbid,so I think it is extremely unlikely.

[negus1] 03/4/2002 11:52

sbe is the one to be on offer of over 200mil for it comming in

[bionicdog] 02/4/2002 22:35

closed at around 730.5p in the US after hitting an intraday high of 741.5p , game over?

[bionicdog] 02/4/2002 20:53

still trading at a slight premium to the bid at around 733p at current exchange rates on NYSE. this is due to speculation that another player will throw their hat into the ring. i don't think that ENI have any chance as ETP have indicated that they would like to keep the company under british ownership (well , semi-british anyway). it should also be noted that SHEL snapped up 10.4% of the shares today , so it would appear to be a done deal.
btw , i wouldn't have bothered to add all of the charts etc , if i'd known that this thread and ETP had such a short time to exist LOL!

[diydan] 02/4/2002 15:24

Seems to be a lot of trades above offer price could this mean we may have a counter bid from ENI. They said they would not make a hostile bid but if large shareholders agree to it then it is not hostile it would seem wise to at least see what they where offering and give ENI the chance to bid.