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GRID Gresham House Energy Storage Fund Plc

1.00 (1.52%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gresham House Energy Storage Fund Plc LSE:GRID London Ordinary Share GB00BFX3K770 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.00 1.52% 67.00 65.50 67.00 67.00 66.80 66.80 275,561 15:04:12
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty -100.1M -110.11M -2.8769 -0.23 25.64M
Gresham House Energy Storage Fund Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker GRID. The last closing price for Gresham House Energy Sto... was 66p. Over the last year, Gresham House Energy Sto... shares have traded in a share price range of 36.90p to 150.60p.

Gresham House Energy Sto... currently has 38,273,996 shares in issue. The market capitalisation of Gresham House Energy Sto... is £25.64 million. Gresham House Energy Sto... has a price to earnings ratio (PE ratio) of -0.23.

Gresham House Energy Sto... Share Discussion Threads

Showing 626 to 647 of 950 messages
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When is someone going to wake up and realise that the "NAV" is a work of fiction? gives a false representation of value. The industry is on its knees through current trading, real money coming in and going out and yet some want to put their faith with wildly optimistic cost and revenue assumptions 5,10,20yrs out?? Total madness...
I had to laugh.

Jefferies the house broker says dividend cover is 0.1x

Ben Guest, fund manager says by end of 2024 dividend will be fully covered even at today's prices.

I suspect Jefferies may get the sack regardless of whether they are right or wrong.

the call was boring and repetitive.

probably will lead to further share price falls

mr george stobbart
re; post #614 "latency issues with renewable energy sources have been put forward as a reason why the ESO frequently skips batteries for gas energy as power station produced electricity does not suffer from these issues."

Are you absolutely sure gas heated steam turbines have no latancy issues?

So maybe it would have been better if they hadn't announced anything!

Yes it looks like the "news" was circulating earlier this week, but actually unusually large sells began on 24 Jan. Someone was pretty sure ahead of the market.

Plan A - deliver the pipeline failed. But we will redouble our useless efforts to get it done, blaming others, and continue to extend durations which was a no-brainer yonks ago. Plan B - we promised OBP would save the day but it doesn't. Plan C - there is no plan C. So much for rumours of commercial storage services to private enterprises. Cut the ambition, cut the dividend, cut the borrowing, cut capex, cut the dividend a bit more.

How about cutting some of the people who were "pleased" while presiding over this collapse?

Unbelievable that they admit they don't have the cash cover to honour the final dividend but will find some cash ... raiding the bank ... for an unspecified buyback. And, even if revenue stabilises they now say the previous dividend rate, which was raised at the start of this year, was unsustainable. That was a con then?

What about NAV, how do we know what the discount is?

If this is now such an unreasonable discount of a reliable investment sufficient to deserve an emergency buyback with shareholder cash uncovered by income perhaps the board and key investors would care to communicate their confidence in that proposition with a series of substantial purchases of their own.

And then I might buy some back when we hit ... 30p, 20p, 10p anyone?

Blimey - HEIT appears to be in an even worse position on debt. I've exited that one. Thankfully, both small positions! Is the GRID debt being amortised yet? That is a key point on looking at renewables and dividend cover.
I read somewhere that latency issues with renewable energy sources have been put forward as a reason why the ESO frequently skips batteries for gas energy as power station produced electricity does not suffer from these issues.This is not something that the battery funds admit to...
Looking at the BESS market why will companies invest in this sector when returns are so low and likely to get lower with much more BESS schemes going live ,I saw that SSE are also opening a lot of BESS but is this to make money on BESS or to keep pricing low.
Jefferies are GRIDs house broker so ought to have seen this coming much earlier. Low pricing for BESS has been a known fact for last six months. Dividend is trash here for sometime imv. The Balancing Reserve product will be run via auction and has all the hallmarks of Ancillary Services although at least here they will need to use gas for a big chunk of it so will at least keep the price higher but the more BESS are commissioned the more that will want to enter this market.
Well that would be the decent thing to do but no doubt they won't do it. cf. DGI9.
Lucky I haven’t got GRID but have got some HEIT - same problem.

If jeffries are brokers and were pushing grid, then they’re shysters, nothing more.

Maybe they should change the management fee to lower of nav or market cap?
I wouldn't give Jeffries much credit. I believe they are GRIDs broker and have been marketing the fund to investors from the beginning along with the company on the basis of producing "sustainable" dividends which incidently is still on the spiel from the company at the bottom of the announcement. As recently as last summer they raised £50m for GRID last summer at 155p on projections that were woefully optimistic.Getting back to GRIDs prospects given the majority of the shareholder base arewealth managers whose clients are probably income based it is no surprise that there is a rush for the exit but as long as the NAV remains comfortably above 100p there should be some support.Would be good to see a (non-token) share purchase or two from the board and Mr. Guest.
I do feel that GRID have been dragged kicking and screaming to admit their failings. I'm not sure they have been very open and always significantly behind the market rather than being proactive. Anyway, there is some value here now but it may take a few years to get £1 back.
Best viewed from about 3 miles away.
The likes of JLEN and other diversified's have been saying this for months. A very challenging and unattractive market for BESS. Best viewed as part of, and not the sole focus of a renewables trust - in my opinion
the deacon
Analyst ratings follow the price, no doubt, but big credit to Jeffries for calling this - their note caused the initial falls, which GRID's t/s today confirms the validity of.
Just registered for the 11.15 zoom meeting, that should be interesting.. you can forward any questions when you register...
I do not wish to be picky but I will.

1. Some of HEIT's income is from capacity contracts that are already in place at fixed prices. Same with GRID. The spot price is irrelevant for these. I don't know about HEIT so much but some of GRID's would have had 15 years on them when started. One would have to look up the details.

2. If you look at what HEIT are earning off their batteries it is more than the average. They are top of the list for all providers. Unsurprising as their batteries are the newest.

Having said all that Jefferies point remains value over the gearing. It's too high an not being managed.

IMHO any project in this sector that is not under construction needs to be binned now unless the owner has already won a capacity contract for it.

Jeffries came in for a lot of stick but hats off to them.
What will the NAV per share be on the year-end valuation, I wonder? Maybe not anywhere near as bad as the share price collapse! 100-120p would be my guess.
Fortunately I only have a small position here, but Gresham House have really messed it up. It will be interesting to see how Ben Guest spins this disaster at the presentation. It looks like they have given up on the Californian project as well - this was ill conceived from day 1. I wonder whether they can sell it and how much they have invested so far? HEIT are possibly slightly better placed as they already have 2hr duration batteries, which is what GRID should have built initially. Nevertheless, the sector is on its knees and will therefore struggle to recover for a few years. Lack of dividend cover was the warning sign...don't invest in renewable energy if the dividend is not well covered.
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