We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Foresight Solar Fund Limited | LSE:FSFL | London | Ordinary Share | JE00BD3QJR55 | ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 1.70 | 1.99% | 87.30 | 864,718 | 16:35:09 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 86.60 | 87.00 | 86.80 | 84.80 | 86.10 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Finance Services | 162.99M | 154.47M | 0.2610 | 3.33 | 513.63M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 17:13:47 | O | 37,054 | 85.517 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 24/4/2024 | 17:00 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
| 22/4/2024 | 17:15 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
| 19/4/2024 | 16:54 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
| 18/4/2024 | 17:00 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
| 17/4/2024 | 17:12 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
| 16/4/2024 | 17:39 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
| 15/4/2024 | 17:19 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
| 12/4/2024 | 17:00 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
| 11/4/2024 | 17:00 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
| 10/4/2024 | 17:03 | UK RNS | Foresight Solar Fund Limited Transaction in Own Shares |
Foresight Solar (FSFL) Share Charts1 Year Foresight Solar Chart |
|
1 Month Foresight Solar Chart |
Intraday Foresight Solar Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 24/4/2024 | 11:51 | Investment Trusts as an Annuity | 195 |
| 20/4/2024 | 12:02 | Foresight Solar Fund makes its London debut | 350 |
| 30/7/2021 | 16:21 | Solar Solar | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 16:13:47 | 85.52 | 37,054 | 31,687.47 | O |
| 15:57:22 | 87.30 | 6,987 | 6,099.51 | O |
| 15:55:32 | 87.30 | 239 | 208.66 | O |
| 15:35:09 | 87.30 | 156,184 | 136,348.63 | UT |
| 15:29:55 | 87.00 | 551 | 479.37 | O |
| Top Posts |
|---|
Posted at 24/4/2024 09:20 by Foresight Solar Daily Update Foresight Solar Fund Limited is listed in the Finance Services sector of the London Stock Exchange with ticker FSFL. The last closing price for Foresight Solar was 85.60p.Foresight Solar currently has 591,742,879 shares in issue. The market capitalisation of Foresight Solar is £513,632,819. Foresight Solar has a price to earnings ratio (PE ratio) of 3.33. This morning FSFL shares opened at 86.10p |
Posted at 20/4/2024 12:02 by llef So a 6% rise in dividend for 2024 relative to 2023.Given that FSFL will have bought back around 6% of shares in last year, that means that the annual net cost of the dividend to the company will be same. At an almost 10% dividend yield, it makes sense for the company to keep on buying back more shares rather than paying down the floating debt. |
Posted at 18/4/2024 21:00 by orinocor Good that makes the yield 9.6%. I looked at others in this sector but settled on FSFL because its gearing of 38% is lower than BSIF or NESF. Also the ex-dividend date next week was a factor. |
Posted at 12/3/2024 07:10 by masurenguy Foresight Solar Fund Limited Annual Results to 31 December 2023· Net Asset Value (NAV) of £697.9m (31 December 2022: £771.5m). The uplift from the sale of the Lorca portfolio stake at a 21% premium to holding value, alongside an active price hedging strategy, mitigated negative impacts from higher discount rates and softening power price forecasts. · Record electricity generation with 1,094GWh exported to the grid, enough to power over 400,000 UK households for a year - avoiding 390,000 tonnes of carbon dioxide emissions. · Record cash distribution from the underlying assets of £120 million, the highest in Foresight Solar's 10-year history. · FSFL delivered on the first phase of its divestment programme with the sale of a 50% stake in the Lorca portfolio. The proceeds from this transaction, alongside free cash, were used to pay down £40 million of variable rate debt on the RCF, bringing the drawn balance down to £75 million. · Foresight Solar grew its proprietary pipeline with the acquisition of the rights to a 467MWp portfolio of development-stage solar projects in Spain. The move exemplifies the Company's capital allocation strategy, focused on new investments with limited upfront capital requirements to drive long-term growth and total shareholder returns. · Foresight Solar returned £20 million to shareholders via share buybacks, deploying half of the £40 million allocation in the year and delivering 1.1 pence per share of NAV accretion. · Total dividend of 7.55 pence per share declared for the full year, in line with the Company's target. Dividend cover for 2023 was 1.61x. · Target dividend of 8.00 pence per share for 2024, an increase of 6% compared to the previous year. The 2024 target is expected to be 1.50x covered from cash generated in the period, with around 1.35x cover for 2025 - assuming current revenue forecasts. · The sale of several large ROC-backed solar portfolios in the UK offers reliable market benchmarks for the Company's assets. The price at which the latest deal closed indicates a value per megawatt approximately 15% above Foresight Solar's £1.17m/MW valuation of its UK portfolio. Alexander Ohlsson, Chairman of Foresight Solar, said: "Foresight Solar delivered resilient performance with record electricity production and cash distribution against a challenging market backdrop. Our operational strength, the powerhouse behind our progressive dividend, enabled us to comfortably meet our dividend target of 7.55p per share for 2023 and allows us to propose an above inflation increase of 6.0% for the 2024 target dividend of 8.0p per share. During the year, we have remained focused on initiatives to address the discount to NAV at which the Company's shares have traded and to place the fund in the best possible financial position to support shareholders' interests. We paid down £40 million of variable rate RCF debt, reducing financing costs, and returned £20 million to investors via share buybacks. The Board is adhering to its disciplined approach to capital allocation and the only new project investments currently under consideration are modest investments to expand the development stage pipeline. In the year Foresight Solar celebrated its 10th anniversary, we successfully completed the Company's first divestment. The partial sale of the Spanish Lorca portfolio at a 21% premium to holding value validates our valuation methodology and supports our investment model. Bringing projects through development to construction and then into operation offers optionality and allows the Company to capture financial upside, a strategy we intend to replicate through our development pipeline. The Lorca transaction was also a key driver of NAV uplift, and the Investment Manager continues to make progress on the next phases of the divestment programme. We look forward to providing more details to shareholders in due course. By leveraging the Investment Manager's local networks in Spain, Foresight Solar purchased the rights to six development-stage solar projects, totalling over 460MWp. Over the medium-term, we will expand this growing proprietary development pipeline and focus on the huge potential for solar and storage to be unlocked throughout Europe. As power price forecasts softened across markets during the year, Foresight Solar's active hedging strategy enabled the fund to lock in higher prices. These favourable terms will help insulate the NAV against market fluctuations in 2024 and beyond, providing greater visibility on dividend cover. After a challenging year for markets, we believe there are reasons for optimism. The energy transition is one of the biggest investment themes of our generation. The solar power opportunity alone is immense. Industry fundamentals remain attractive and solar generation continues to be one of the cheapest and most reliable sources of electricity available. This promising outlook, coupled with Foresight Solar's improved financial position and clear strategy to deliver income and growth, positions the fund well to capitalise on the opportunities ahead." |
Posted at 15/2/2024 09:52 by jonwig A CV appears to be a formality arising from the average discount over a period. The discount isn't specific to the company, all the sector experiences it.There is absolutely nothing wrong with the management, and the high dividend is well-covered. I don't see any reason to vote in favour of a winding up, but if it happened, the share price would no doubt rise to narrow the discount! |
Posted at 15/2/2024 09:03 by ammons Same article?h..ps://www.theaic.c ==================== Continuation vote casts shadow over Foresight Solar’s pale share price Foresight Solar likely to face a continuation vote at its annual general meeting in June after the shares traded at an average 16% below asset value last year, a discount that has now widened to 27%. 14 February 2024 Foresight Solar (FSFL ) faces a continuation vote at its annual general meeting (AGM) in June after the shares traded well below the investment company’s minimum average discount target of 10% below net asset value (NAV) last year. Reviewing the fund’s fourth quarter update, Peel Hunt analyst Markuz Jaffe said, ‘we calculate Foresight’s average discount during full-year 2023 to have been 16%. ‘This is despite the company having been active with share buybacks on a near-daily basis since May 2023, and leaves us wondering if we should expect to see further proposals from the board that might appease shareholders in the run-up to the continuation vote,’ he said. At 86.7p this afternoon, the £519m renewable infrastructure fund, which invests in solar farms and battery storage in the UK, Spain and Australia, has seen the discount widen to 27%. This is in line with its rivals, Bluefield Solar (BSIF ) and NextEnergy Solar (NESF ), stand on discounts of around 24% and 30%. In the three months to 31 December, NAV per share rose just 3p, or 0.3%, to 118.4p as the good price the fund received in November selling half its stake in its Luca portfolio in Spain was offset by declines in power prices and inflation. With the dividend included, the total return in the quarter was 1.9%. The 8.6%-yielder said it was on target to deliver an annual dividend of 7.55p per share comfortably covered 1.6 times by earnings. Although the shares rallied 12.5% in the fourth quarter, they are still down 25% over the past year. While Foresight has yet to confirm whether a continuation vote will take place, its prospectus outlines that if the shares trade at more than a 10% discount for the financial year the board will propose a special resolution on continuation at the next AGM. In the update, the fund said the sale of the Lorca assets to pay down borrowing was a ‘clear example’ of its ‘approach to capital recycling and its commitment to reduce variable interest rate debt’. The fund, which is managed by Ricardo Pineiro and Ross Driver, is aware that near term power prices continued to trend downwards but there has been a ‘slight increase in medium to long-term estimates’ across all geographics. ‘When considered against the company’s well-hedged near-term position and reduced electricity generator levy payments, the overall impact was negligible,’ said the board of the trust. |
Posted at 08/2/2024 11:26 by woodhawk Just another ludicrously low valuation - great for those reinvesting above average dividends in below average share prices. |
Posted at 08/2/2024 07:15 by masurenguy Discount to NAV is now 25.4% and the current yield is 8.5%Q4 2023 Net Asset Value Update Foresight Solar announces its unaudited NAV was £697.9m at 31 December 2023 (30 September 2023: £706.9m). This results in a NAV per share of 118.4p (30 September 2023: 118.1p per share). Highlights: · The uplift from the sale of the Lorca portfolio stake at a 21% premium to holding value mitigated the negative impacts from updated power price forecasts and actual inflation. · Proceeds from the Lorca transaction, along with free cash, were used to pay down debt, reducing the balance of the RCF to the previously announced £75m target. Total gearing is now 38.8% of GAV and the Board intends to reduce leverage further through divestments. · Foresight Solar continued its share buyback programme, providing a NAV uplift of 0.4p per share for the quarter. The Company has utilised £20m for repurchases, resulting in NAV upside of 1.1p per share for the full year. · FSFL closed 2023 with record cash distributions from underlying assets of £120.4m · The Company is on target to deliver an annual dividend of 7.55p per share. Dividend cover was 1.61x for FY23. Net dividend cover for FY24 remains in line with previous guidance. |
Posted at 16/11/2023 09:28 by jonwig From Singer Capital Markets:FSFL’s announcement of the disposal of a 50% stake in the Lorca (Spain) solar project at a 21% premium to its 30 September value is a key milestone. We estimate that this disposal adds 0.8pp to NAV, reduces the drawings on fund’s RCF by c.£24m or 22% of the drawn balance and highlights the value of its Spanish development portfolio. In Q3’23, FSFL’s NAV declined 1.5% (to 118.1p) as a 50bps increase in UK discount rates to 8.0% and lower price forecasts took its toll on the valuation. We note that 10 year gilt yields have declined since 30th September. In our opinion, the Lorca disposal has demonstrated FSFL’s ability to execute on its asset disposal programme (and pay down the RCF), provided evidence of a conservative approach to valuation and highlighted the value embedded in the fund’s ownership of 476MW of Spanish development assets. Trading on a c.19% discount to NAV (3 year average discount 4.3%) and yielding c.8.0%, FSFL is relatively undervalued to its history and its peers (16.5% av. discount). Our expectation is that as the management team continues to deliver on its asset recycling programme the market will respond positively. |
Posted at 01/11/2023 07:57 by masurenguy Thanks jonwig - I think that the excerpt below summarizes the current investment case, which equally applies to BSIF and NESF where I'm currently invested.Foresight Solar Fund (FSFL) presents investors with an attractive dividend yield (8.6%), a 10-year track record of dividend growth (25% since IPO), strong cash dividend coverage (1.5x until at least 2025) and underlying revenue security (contracted revenue accounts for 90% of total revenue in 2023, 85% in 2024 and 75% in 2025). FSFL can fix power prices in six-month blocks, up to five years ahead via hedging. Investors have been attracted towards fixed income and money market products in a rising interest rate environment, although these present negative real investment returns. FSFL offers positive real yields, well covered by cash generation and with a proportion of revenues linked to inflation that help support a growing dividend. FSFL is also trading at a 26% discount to NAV, offering an attractive entry point to investors. |
Posted at 28/9/2022 16:20 by ec2 BofE seems to be holding 10Y gilts at 4%. This makes renewable infrastructure funds between 5 and 10 pct undervalued at this level. FSFL that I sold out of yesterday at 110p, I have bought back in today at 104p. 4pct gilt yield would equate to FSFL share price of 114p. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
