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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Harmony Energy Income Trust Plc | HEIT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.20 | 1.99% | 61.50 | 14:00:14 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 60.30 | 59.90 | 63.40 | 60.30 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 30/11/2023 | Interim | GBP | 0.02 | 07/12/2023 | 08/12/2023 | 22/12/2023 |
| 01/09/2023 | Interim | GBP | 0.02 | 14/09/2023 | 15/09/2023 | 29/09/2023 |
| 23/05/2023 | Interim | GBP | 0.02 | 01/06/2023 | 02/06/2023 | 16/06/2023 |
| 26/01/2023 | Interim | GBP | 0.02 | 02/03/2023 | 03/03/2023 | 17/03/2023 |
| 04/07/2022 | Interim | GBP | 0.01 | 01/12/2022 | 02/12/2022 | 16/12/2022 |
| 04/07/2022 | Interim | GBP | 0.01 | 14/07/2022 | 15/07/2022 | 29/07/2022 |
| Top Posts |
|---|
Posted at 09/12/2024 18:42 by nickrl Current bessanalytics has the portfolio running at c70k/MW over last 30 days and at c60k/MW for the year. This data is pretty reliable as HEIT have all their assets in the BM. 60k/MW will allow c2-2.5p divi but still relatively low yield even at the depressed share price That said GRID suggest their assets (mostly outside of the BM) are doing quite nicely trading in the wholesale mkt so maybe more could be achieved.So not sure why anyone would want this at more than 70p unless the sites have the opportunity for further augmentation and they have access to capital to do this. |
Posted at 09/12/2024 08:25 by cruelladeville I agree. Easy to understand why folks are sceptical here. I'm one of the sceptics. I have had enough of BESS and I will not be reinvesting the proceeds from a HEIT sale in other BESS business. I need 88p to break even on HEIT. Would be nice to get out from here anywhere near that. |
Posted at 04/12/2024 12:04 by craigso All investments are based on an NPV of future cash flows - and the market price is a balancing mechanism for individual opinions of future cash flows and discount rates...There's nothing fundamentally wrong with a symbiotic relationship. The developer can sell developed projects to a fund of supposedly patient capital, instead of selling projects to third parties. And investors can access an asset class that they would otherwise be unable to access directly. The only problem is that stock market investors now apply a much larger risk premium to these assets than other funds / power companies do. It's no surprise to me, as a former power company executive, that individual investors are more scared of power price curves than power companies are. And to its credit, HEIT - acting appropriately and independently of the "developer" - has decided to sell some or all of its assets to investors that have a different view of the appropriate risk premium. |
Posted at 03/12/2024 17:50 by lurker5 An 'NAV' composed of the NPV of a stream of future revenue is an absurdly high price for an investor to pay 'up front' - but punters have been bamboozled by the industry into doing so. It is just the same as buying an annuity to get an income comprising return of the initial cost, plus an annual return equal to the discount rate used to calculate it. Why on earth would an equity investor hoping to profit from a rising share price do that ? He'd might as well buy an annuity from an insurance company where he'd be guaranteed a return, - dull and boring though it might be. The only way to make a profit from an NAV dependent share is where interest/discount rates fall, so driving up asset prices. The opposite is why HEIT and peers have crashed over the last two years. The other, 'sensible' way is to pay well under any stated NAV - and depend on a dividend. Why else did the originators of these EIT's hive the assets off and list as separate companies to draw in the naive and deliver a large 'development' profit for themselves ? Look them up. |
Posted at 28/11/2024 17:40 by craigso GSF seems to be trading on half of HEIT's £ / MW valuation with lower debt. So there's got to be upside there. But I can understand wanting to give BESS a wide berth if you manage to get out of HEIT or GRID unscathed...If you don't want to do the fund-picking yourself, PMGR gives you a double discount, whilst still giving you the same yield. |
Posted at 20/11/2024 21:19 by cruelladeville Well done showing some conviction. A really bad example of poor market timing launching HEIT when it happened. Couldn't have been worse. The company was never going to survive as a "too small to be independent" operating company with headwinds as they are. Having bought at IPO, I'll make a loss if we sell out for 75p. But there are opportunities out there to recycle 75p into other bombed out infrastructure companies with a fairly secure dividend, pretty sound finance and a prospect of regaining some capital medium term. Looking forward to seeing what happens next. |
Posted at 12/11/2024 15:12 by craigso I would wait until HEIT has sold itself before deciding whether to recycle the proceeds into GSF. 2-3 months if the RNS is to be believed...The share price of GSF isn't going anywhere until it starts delivering covered dividends and Trump 2.0 turns out to be not as bad as feared for US renewables. |
Posted at 12/11/2024 11:52 by craigso HEIT won't pay a dividend ever again. Assets will be sold and the IT wound down.The identity of bidders - and how much they pay for the assets - is also GRID's best hope of coming good eventually. As for duration extension, are the UK's peaks and troughs really long enough to compensate for the extra investment? There certainly wouldn't be much, if any, additional capacity revenue. |
Posted at 09/11/2024 08:06 by craigso I picked up a little tidbit from the Gore Street Capital Markets day presentation.They mention that a 2-hour system would cost £600k / MW to build in 2024. (roughly 25% lower than the £800k / MW it cost in 2022) Apply that to HEIT's installed capacity and you get £240m. Take off the £130m of HEIT debt and you're left with £110m. (a bit less than the current market cap) Obviously grid connections are important and operating assets are usually worth more than development projects, but it doesn't appear to be "cheaper" for bidders to buy HEIT assets close to NAV rather than just building their own. |
Posted at 06/11/2024 21:01 by cruelladeville Is there any information available in the public domain regarding the "skip rates" that BESS are now suffering? The grid controllers were passing over BESS capacity in favour of gas fired and other generation. It looked to be a major issue for HEIT and their two hour duration assets. I recall systems were being reworked to improve BESS utilisation by the grid controllers. But I don't recall seeing any information regarding any improvement in utilisation of HEIT or other company's assets? Does anyone know if utilisation and resulting revenue has improved? |
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