Gresham House Energy Sto... Share Discussion Threads

[marktime1231] 21/9/2022 10:46

H1 results will be a historic half-year report and financials to June ... what we need is a current trading update with income performance, progress on commissioning assets, NAV since June. We were already told roughly the H1 situation in May eg to expect NAV 140-145p at end June.

STILL NO MENTION OF THE DIVIDEND.

OK, sorry for shouting, the H1 report may well include all of those things. This rns resolves that there is life at GRID after all following three months of silence, and they are ignoring the expectation of a Q2 dividend announcement overdue since August.

[jonwig] 21/9/2022 06:11

H1 results on 27/09. Should resolve some of the questions raised here recently.

[pavey ark] 16/9/2022 08:07

Sold a couple of thousand this morning.....trimming down.

Still think there's a place for these in my income/renewables fund but it was getting a bit big.

A lot of competition now but it is a very big and expanding market.

[marktime1231] 15/9/2022 19:20

Just reminded myself that in January GRID said they had 415MW in construction for completion during 2022. Well if there have been no go-lives so far this year then progress must be backing up. Should we be expecting a flurry of NAV-enhancing news, or some slippage into H1 2023 perhaps?

Yes the UK pipeline looks pretty full and funded, but a move in to new international markets (please be the US) will need major funds especially if the move includes operational assets. If GRID can sell stock at a hefty premium to NAV it would make acquiring operational UK assets viable too.

Are there co-investments where GRID can increase its stake? What about investing in existing sites to increase duration 1hr to 2hrs or 4hrs, maybe coupling LFP with flow batteries? What about joint ventures with solar and wind farm developers who are increasingly incorporating storage in their plans? Easy routes to create value.

GRID is so well funded it is able to accelerate the business while others in the sector might be struggling to keep up because suddenly using debt finance at base + 3% not so attractive . Yes it would be tempting to restrain the pace so that income can progress the dividend, but Gresham House earn their money from expanding assets. Heading in to a European winter energy crisis. Go for it.

[cruelladeville] 15/9/2022 18:31

Do GRID need to raise more money? I had thought that with money from institutional investors and agreed finance deals in place, everything they planned is already fully funded? Not sure taking on more early stage projects at this time would be an entirely good thing. Going flat out for more facilities or into new markets might well detract the management from the commitments they already have coming down the track?

[marktime1231] 15/9/2022 17:27

Or the next issue at 175p on its way?

[cruelladeville] 15/9/2022 15:24

My word, flown through 180p! Profit takers emerging soon? Tempted myself.

[marktime1231] 15/9/2022 11:38

GHE are

the excellent asset management parent company responsible for GRID's success

or

the guys raking in fees for not having to do much while GRID appreciates in value. OK maybe that's not fair, they ran a £150M fundraise at 145p in late May and the share price today is nuzzling 180p

and

presumably so thrilled with their own performance they have forgotten we are overdue a dividend and will soon be due a NAV / trading report here.

Notwithstanding those gripes, it was interesting to read in GHE's outlook that they are expecting further incremental progress in GRIDs asset value due to commissioning anticipated in H2. But none in H1. "There are a number of projects which are expected to become operational in H2 2022 and we shall update shareholders as this takes place". My foggy brain can't remember which projects are due to go live imminently.

GHE also heralds GRID international expansion. And says it is developing an exclusive renewable + battery storage portfolio using own funds so presumably small ventures on behalf of a new insitutional client ... eh? No longer feeding GRIDs pipeline then, or also working on major opportunities for GRID?

It would be nice to hear something direct and a bit more specific from GRID in these regards.

[notbitcoin] 15/9/2022 10:23

I can't see any results

[ec2] 15/9/2022 09:01

Exceptional set of results out again today from GRIDs asset manager Gresham House (GHE). I hold GHE as an added diversifier to my other real assets positions.

[nickrl] 14/9/2022 19:50

GRID will benefit from the high power prices through its last qtr and with so many operational assets its been able cover all the basis unlike HEIT who have nothing operational. In medium term govt seems intent on making renewables get only there CfD price but this won't stop the need for the system services that GRID offer and i'd say trading opportunity will still be there but volatility may reduce.

[cruelladeville] 14/9/2022 11:27

Agreed. I did take my profits out a couple of days ago at SSE. But I would buy back again there if a good opportunity arose. Perfect environment to be in fossil fuel free energy.

[marktime1231] 14/9/2022 11:17

Tempus explaining that it is an awareness of the UK's lack of energy security and GRID's part in helping to solve the peak-demand problem which has spurred the share price onwards and upwards. GRID now trading at a 20%+ premium to the forecast 30 June 2022 NAV of 145p per share.

Still a forecast because GRID has failed to update the market or explain why it is silent despite saying to expect a dividend announcement in August, curiously long overdue. GRID could be waiting to see the detail of how the new government intends to put a lid on extreme energy prices to include the emergency half-hour-ahead services where GRID makes super profit.

Frustrating but hard to get too worked up about it while the share price is still gaining, despite or because of the lack of news.

I wonder if we might now get an exciting combined update later in September, no doubt to include a NAV beat, super trading report and who knows even the long awaited progress in dividend, or maybe news of the next expansion phase and funding round.

In theory we ought to be trimming our holdings because the price looks so expensive and the income has not kept up, and yet the feeling is that there is more good news to come and the conviction that this is the place to be and remain invested right now.

[cruelladeville] 14/9/2022 08:08

FWIW Tempus in The Times rates GRID a buy today. Myself, I think the premium is already in overheated territory. I am neither buying nor selling.

[cruelladeville] 12/9/2022 08:55

And NESF have also released an RNS for a new battery storage project today.

[igoe104] 08/9/2022 07:19

I see trig have announced some battery storage projects today.

[igoe104] 07/9/2022 17:24

I was talking about your previous post.

[nickrl] 07/9/2022 15:51

Cruella she explicted repeated that point several times during PMQs. Anyhow there will be a BIG announcement on energy sometime tomorrow she said but sounds like energy market will be left to function as it is and the extra costs for suppliers above a threshold will be picked up you and me in extra borrowing!

[cruelladeville] 07/9/2022 15:34

SSE is well up today, apparently Ms Truss has declared utilities won't be subject to a tax grab. Not seen it yet myself but that's what's boosted SSE it seems.

[igoe104] 07/9/2022 07:16

All these renewable companies, i heard will be exempt from wind fall taxes. Because they are revesting for the future. UK needs companies like Grid, UKW, etc to keep expanding, otherwise we will never hit the countries needs...

[nickrl] 05/9/2022 16:51

Wait till Lizzie imposes a windfall tax then its momentum will soon be reversed

[notbitcoin] 05/9/2022 16:27

Turning into momentum stock now .
How long can this last without any news

[willywonka12] 05/9/2022 15:24

Sold half this mourning ..Don,t like ex divi date not been announced or why it not been announced.