Jlen Environmental Assets Share Discussion Threads

[route1] 01/6/2024 05:05

Yes also relieved to see it, I wonder if they will ever explain the reason for the delay in releasing it.

[wskill] 29/5/2024 10:15

foresight sustainable forestry gone for a half decent price only a 5% discount.

[cc2014] 29/5/2024 08:53

Looks OK to me too. Only real issue is the battery storage they've bought but that's been written down now. I bought in yesterday.

[hugepants] 29/5/2024 08:45

Looks ok. 3% increase in dividend. NAV down a few % to 113.7p. 9%+ yield at this price.

[the deacon] 29/5/2024 07:32

Yes, glad to see the RNS this morning. We'll have to wait and see on the M&A front..

[route1] 29/5/2024 07:22

Panic over, just seen this mornings RNS

[route1] 29/5/2024 07:13

Thanks for the info.Noting that earnings are due on 13 June ,according to Yahoo Finance, and that Ireceived the Q4 dividend on the 23rd of June last year, I still cannot understand the delay in declaring it, or is , as the Deacon mentioned in his post is something else being developed ?Either way they are cutting things fine with the lack of any updates.

[gateside] 29/5/2024 07:04

Dividend and NAV announced this morning

[the deacon] 28/5/2024 09:56

Here's the interview as per belowhttps://youtu.be/2Io3qH6izZo?si=ZywIMwEI7IEVrLrv

[the deacon] 28/5/2024 09:50

Indeed, though it does make me wonder whether there's anything going on that's distracting them. Caught an interview with the Foresight CEO over the weekend. He was very keen to emphasise the importance of scale in the renewables and infrastructure sector going forward. I wonder whether there's some from of M&A being considered

[tag57] 28/5/2024 08:50

Between 2017 and 2020 this divi was declared later than now so not overly concerned.

[route1] 28/5/2024 08:32

I am becoming increasingly concerned that no dividend targets or NAV have been declared. The declaration date was the 18th May last year for the Q4 dividend, paid on 23rd June 2023. Now today is 28 May and so far total silence from the company.Does anyone have a view or comment on this situation.By now the Q4 dividend should have been declared.

[williamcooper104] 24/5/2024 14:26

Where's JLEN has a 15.3% market implied yield at a relatively low leverage level (they've got quite a bit of holdco leverage but that looks like it's currently reflecting fully higher rates so there's upside on a fall in rates)

[williamcooper104] 24/5/2024 14:25

Yep though ORIT value their assets at a 7.2 discount rate which is only 6.04% after management fees - so market implied returns there are only 9.5% Interestingly they have out of my sample the second lowest market implied return (AERS the lowest) but the highest upside to NAV (I look at it that way round as that's what return you get if they return to NAV) ORIT also has one of the higher leverage levels with quite high levels of holdco/shorter term debt ORIT did sell a chunk of assets at above NAV recently so clearly they either get to NAV or get wound up

[hugepants] 24/5/2024 13:46

Still it's not alone. ORIT as well although it has higher gearing at 46%

[williamcooper104] 24/5/2024 13:08

Market implied returns (eg valuation discount rate leveraged up adjusted for management costs and then for the discount to NAV) is >13 now If you think AI gives us a long runway of relatively high electricity prices then bjt of a no brainer Especially with the interest rate on refinancing being relatively low My largest renewable AY is likely getting bought out soon so looking at putting more into other renewables

[hugepants] 24/5/2024 13:05

At an all time low now.

[pjw956] 22/5/2024 21:34

broker upgrade today...

Barclays raises JLEN Environmental Assets to 'overweight' (equal-weight) - price target 110 pence

[route1] 20/5/2024 10:02

There was indeed an RNS on the 18th May last year, which included the dividend targets for 2023/2024 and the NAV.As of last Friday when no RNS was announced I contacted Foresight group management for clarity.However there was no response to my enquiry.It seems, according to Yahoo finance, that we will now have to wait until 13th June for the earnings report.

[hugepants] 16/5/2024 14:11

Checking back to last year there was a NAV update and dividend announcement in mid May. So should be one imminent. Maybe that will spark some life into this stock.

[cousinit] 10/5/2024 12:36

I have been kicking the tyres on a few. Some seem to have reasonable exposure to power prices. JLEN NAV seems fairly sensitive to power prices, so any reduction in discount rates, in the short term, could be countered with falls driven by the power price forward curve.

It does hedge 2-3 years out (like NESF) so the dividend should be protected.

[williamcooper104] 10/5/2024 12:06

Yep If you take their valuation discount rate, adjust for management fees and then the discount the shares are trading on you get to 12-14 returns for those I've been adding recently My largest renewable holding is US listed but UK based, AY - it's about to be taken over (hopefully) so have been adding to other renewables in advance of that SEIT recently sold an asset a little above NAV - don't think the NAVs are mark to make believe either

[hugepants] 10/5/2024 11:35

A lot of these renewable type trusts still look bombed out, and close to all time lows, despite the strength in the FTSE. eg.

JLEN 8.4% yield
ROOF 8% yield
AERS 8% yield
GSEO 7.5% yield but almost no gearing.