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FSFL Foresight Solar Fund Limited

90.60
1.20 (1.34%)
Last Updated: 13:33:17
Delayed by 15 minutes
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 Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.20 1.34% 90.60 89.60 90.20 90.60 89.30 89.40 265,840 13:33:17
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services 162.99M 154.47M 0.2610 3.47 536.12M
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 89.40p. Over the last year, Foresight Solar shares have traded in a share price range of 82.40p to 115.40p.

Foresight Solar currently has 591,742,879 shares in issue. The market capitalisation of Foresight Solar is £536.12 million. Foresight Solar has a price to earnings ratio (PE ratio) of 3.47.

Foresight Solar Share Discussion Threads

Showing 501 to 520 of 525 messages
Chat Pages: 21  20  19  18  17  16  15  14  13  12  11  10  Older
DateSubjectAuthorDiscuss
26/2/2024
13:55
88.60 - 89.00 (GBX) at 13:52:59
on Market (LSE)

neilyb675
16/2/2024
13:48
If people only had the foresight to steer clear roar

Just look at the state of it

barnes4
15/2/2024
13:26
Old Barnes cannot be blamed for this carnage
It’s out of control am afraid
This was £1.20 in Nov

barnes4
15/2/2024
12:49
A quick look at barnes4's posts will tell you that imbecile is busy elsewhere imagining his content-free one-liners are somehow destabilising other shareholders. Another moron for the filter.
woodhawk
15/2/2024
12:35
Same for my car and house and I'm not selling them either.
melton john
15/2/2024
12:15
In the meantime it keeps getting cheaper
barnes4
15/2/2024
10:01
Posts #328 & 329 - totally agree !
masurenguy
15/2/2024
09:55
A continuation vote should see the discount reduce and shares rise but I expect any vote would be in favour to continue so it should make no difference in practice. Just buy the high yield as part of a diversified income portfolio and the discount should eventually close in time. Meanwhile, you enjoy a good income.
aleman
15/2/2024
09:52
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!

jonwig
15/2/2024
09:33
If it winds up

What then a fire sale???

Is it worth a short????

barnes4
15/2/2024
09:03
Same article?

h..ps://www.theaic.co.uk/aic/news/industry-news/continuation-vote-casts-shadow-over-foresight-solars-pale-share-price

========================

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.

ammons
15/2/2024
07:01
Continuation vote at the AGM?
jonwig
08/2/2024
16:50
I guess that all the solar companies are being hit in part (or maybe completely) by their exposure to BESS assets. They may be relatively modest in terms of overall exposure currently, but they all have plans to increase exposure there in due course.
mwj1959
08/2/2024
11:26
Just another ludicrously low valuation - great for those reinvesting above average dividends in below average share prices.
woodhawk
08/2/2024
08:15
Renewables have been hit really hard of late but I keep adding for the longer term.

Look at where this one traded a year ago and it will get back there again in my opinion plus we are paid well to wait.

Good luck all 👍🏻

tuftymatt
08/2/2024
07:15
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.

masurenguy
Chat Pages: 21  20  19  18  17  16  15  14  13  12  11  10  Older

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