Hicl Infrastructure Plc

-1.00 (-0.69%)
Share Name Share Symbol Market Type Share ISIN Share Description
Hicl Infrastructure Plc LSE:HICL London Ordinary Share GB00BJLP1Y77 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00 -0.69% 143.00 2,126,537 16:25:49
Bid Price Offer Price High Price Low Price Open Price
143.00 143.20 144.40 143.00 144.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Finance Services 202.30 198.40 9.80 14.40 2,769.91
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:23 UT 294,973 143.00 GBX

Hicl Infrastructure (HICL) Latest News

Hicl Infrastructure (HICL) Discussions and Chat

Hicl Infrastructure Forums and Chat

Date Time Title Posts
25/5/202308:50H I C L :::::::::::::::: long-term infrastructure investment1,104
15/1/201108:47secure income24

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Hicl Infrastructure (HICL) Most Recent Trades

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Hicl Infrastructure (HICL) Top Chat Posts

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Posted at 24/5/2023 10:30 by williamcooper104
I've a much bigger position in INPP and BBGI than HICL now - but still a large enough position in HICL Stupidly I thought I'd wait until the divi before further lightening it - doh
Posted at 26/4/2023 07:29 by jonwig
FY results 24 May.

Presentation at 2:00pm. Register here:


Posted at 25/4/2023 07:34 by jonwig
Profitable US tollroad partial disposal:


They talk of "active capital recycling", but they didn't use the term until late last year. I suppose it's a viable strategy when they haven't access to new equity.

Posted at 22/4/2023 05:26 by unastubbs
Excellent article from IC. HICL is mentioned though the piece deals generally with ITs and the fact so many are trading at a discount to their assets. The author seems to feel that the discounts currently available on Infrastructure ITs will not endure.


Posted at 21/4/2023 15:18 by income investor
As a holder of HICL it is depressing to see continued share price fall recently. There doesn't seem to be any catalyst for this?
Posted at 19/4/2023 09:48 by williamcooper104
From memory HICL/INPP/BBGI all assume one year of high inflation and then that it drops like a stone Looking more persistent today - further room for NAV growth especially if we get higher for longer inflation but long gilts don't move out much
Posted at 05/4/2023 21:32 by williamcooper104
One years cash cover gives a myopic view of divi cover - I prefer Project NPV less management fees adjusted for share price discount or premium - which gets me to 6.55 discount rate for HICL which implies a 1.24x over the divi I get 1.29 for INPP and 1.14x for BBGI (though it's projects are almost all availability so less risky)
Posted at 05/4/2023 21:04 by alan pt
@unastubbs HICL may be thought of as a "bond proxy", but there are all sorts of complicated things happening under the surface. Multiple projects, each with their own costs and risks. Changing costs of debt, changing discount rates, change in profitability of "demand based" assets which comprise part of the portfolio.

The stated inflation correlation is 0.8x, but there's different measures of inflation and each is just an average of a different basket of items. So you could look at one measure of inflation, HICL revenues could be linked to another and its costs could be linked to another one again

Bearing all this in mind, cover of 1.03x (at last statement) is pretty thin and doesn't give much margin for contingencies. For comparison, INPP quoted 1.3x at last statement (albeit not a comparable period)

HICL has increased divi every year since IPO, so will want to hold onto that record

Posted at 05/4/2023 07:48 by jonwig


Small (2% of HICL's portfolio) but another diversificaton away from PPI and the UK.

Posted at 03/3/2023 07:15 by jonwig
Interim update:


All seems to be bang in line. Annual dividend of 8.25p will be cash covered.
This is interesting:

Given persisting macro-economic volatility, the Company is, by exception to the normal valuation cycle, providing an unaudited Net Asset Value per share as at 31 December 2022 of 165.8p , a 1.5 pence increase relative to 30 September 2022.

Normally they would update NAV in September and March, and only make an exception if a fundraising were being mulled. That's unlikely right now, but maybe they wish?

Hicl Infrastructure share price data is direct from the London Stock Exchange
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