Jlen Environmental Assets Share Discussion Threads

[pavey ark] 14/11/2023 14:47

Had a top up this morning .
I held from a hair over 100p and just happy to chunter along with the yield but recently had a close look and things had got rather silly so decided to buy more.

Always liked JLEN and looking back through the posts I see a number of posters share my view.

Hold a number of renewables and recently bought TRIG but I always have had a liking for JLEN.....much to like......very diverse and rather innovative.

[flyer61] 02/11/2023 06:42

Ugly chart! Is the lack of bounce here because it is actually a small trust?
If the divi is that well covered and looking at UKW they could quickly get to a 10 per cent yield here with a small tweak up or a one off…ergo putting a floor under the price.

[williamcooper104] 01/11/2023 21:24

Yep that's why the huge relatively recent drop in GSF Look at Orsteads recent performance to see how construction risk on renewables is currently playing out Ironic that the one trust that has no/next to know debt manages to still be exposed to both higher interest rates and inflation I still own some GCF but I did reduce my position

[riverman77] 01/11/2023 20:18

Yes that's true, GSF should be 2x covered once all the pipeline is constructed, although personally not keen on the additional development risk, which will also require a lot of cash. Might all turn out fine, but right now prefer the ones that are fully operational - JLEN, TRIG, UKW, etc

[riverman77] 01/11/2023 15:37

I prefer to also look at the dividend cover - I believe JLEN was 1.5x covered last time I looked, while GSF was uncovered. If you factor this in then JLEN arguably looks cheaper on a simple cashflow yield basis. I'd also note that JLEN (and its peers) provide a growing, inflation linked yield so wouldn't necessarily do a direct comparison with a 4% fixed interest rate with no inflation protection.

[melody9999] 01/11/2023 12:23

on 1/1/22 share price was 105p and divi 6.8p. ie 6.5%. If you now assume a high interest rate env ....say 4%....arguably investors will need to see 10%+ divi. Paying 7.6p, that means a share price of 76p or less.

All that completely ignores NAV / company performance in the last 2 years....

Just put a few £ into GSF...doing the same calc at 1/1/22 share price was 116p and divi 7p. ie 6%. Paying 7.5p now, so to achieve 10% divi share price needs to be 75p. You can buy today at 66p.

[riverman77] 30/10/2023 10:34

Any reason for the ongoing weakness? Most of the other renewables have bounced a bit but this seems as sickly as ever.

[pjw956] 20/10/2023 21:52

as cheap as ive ever known it...

[jezreel] 11/10/2023 03:31

I find that attractive. Risk-free just matches inflation, running to stand still. JLEN gives a real and rising return. With inflation at 5% it's 2.5 versus zero. Ok for me.

[jezreel] 11/10/2023 03:28

I don't know. But I would definitely see JLEN as a 60:40 proposition. Rising inflation-beating dividend; massive discount to NAV. Unless inflation goes to double digits in which case all bets are off.

[edwardt] 21/9/2023 20:44

Indeed - not sure why renewables on the ground already are not catching a bid.