Nextenergy Solar Share Discussion Threads

[ec2] 27/6/2022 21:30

Very positive and reassuring investor call today. I'm very happy to be continuing to hold these. Very solid and secure looking forward electricity sales will ensure meeting forward income and dividend projections into the future. I like the way they expertly manage this through their energy trading desk. Conservative projections have meant revenue came in 18.1% ahead of budget. Rising inflation has the greatest benefit of all the variables to the NAV. If only all the positives could be reflected through a decent premium over NAV so they can raise further funds for future investment.

[woodhawk] 27/6/2022 10:14

NextEnergy Solar Fund's portfolio "continues to outperform"

hxxps://www.morningstar.co.uk/uk/news/AN_1656319348455228800/nextenergy-solar-funds-portfolio-continues-to-outperform.aspx

[woodhawk] 27/6/2022 10:10

Good results as expected - a very nice and consistent little earner. Long may it continue. Divi payment this week.

[tuftymatt] 27/6/2022 09:26

Actually fizz is too strong a word really for the recent rise here!!

[tuftymatt] 27/6/2022 09:25

I will add here but will do so when the fizz goes away.

Markets up at the moment and this is great news but it will settle a bit in the future i think and that's when I will pick up some more. I don't have many of these and should look to bring it up in percentage terms to others I hold.

[panshanger1] 27/6/2022 08:51

Yes Very solid and happy to hold Not adding as have plenty GLA

[tuftymatt] 27/6/2022 07:51

Very nice.

[masurenguy] 27/6/2022 07:42

Solid and steady performance. Current discount to NAV is circa 4% and this years target yield is 6.9%

Full Year Results for the year ended 31 March 2022

NextEnergy Solar Fund, the specialist renewable energy investment company, is pleased to announce its full year results and annual report, for the year ended 31 March 2022.

Financial Highlights

-- +14.6p (c.15%) increase in NAV per share to 113.5p (31 March 2021: 98.9p).
-- Increased ordinary shareholders' NAV of GBP668.5m (31 March 2021: GBP580.8m).
-- Shareholder annualised total return for the year of 11% (31 March 2021: 5.1%).
-- Gearing (including preference shares) of 42% (31 March 2021: 43%).
-- Dividends per ordinary share of 7.16p (31 March 2021: 7.05p).
-- Increased cash dividend cover before scrip to 1.2x (31 March 2021: 1.1x).
-- 5.0% increase in FY22/23 target dividend to 7.52p per ordinary share.
-- Estimated dividend cover of between 1.3x and 1.5x for the FY22/23.

The UK power market continues to experience sustained high prices. Prevailing market conditions around the supply of gas continue to look challenging given recent macroeconomic and geo-political events, highlighting the importance of energy security. Against this backdrop, NESF offers strong diversification and protection for investors in their portfolios, in conjunction with helping accelerate Net Zero ambitions following COP26. For the current financial year, NESF is targeting an attractive dividend of 7.52p per ordinary share, supported by a strong expected dividend cover.

[nimbo1] 24/6/2022 14:13

Buying some today

[cc2014] 22/6/2022 13:02

My sense is that there are one or two large parties selling out across the renewable sectors and they are doing their best to get a decent compromise on price vs volume.

Against their selling most of the flow looks like buying but the buying is farily slow and it seems that every time the volume picks up the sellers ramp up the volume they are happy to shift in a day.


My guess is that we just have to wait for the large sellers to clear and that could take an hour, a day, a week or a month.

I do note DRX seems to have got a bit of momentum on the news energy producers are unlikely to be taxed so hopefully the renewables will follow in due course.

[ec2] 22/6/2022 10:24

...and also unlike many bond proxies, income is inflation linked and potentially not under pressure from the economic slowdown.

[cc2014] 22/6/2022 10:17

#324

Indeed but the impact on NESF is far less than the rest of the sector as:

1. About half it's financing is through fixed coupon prefs which have got IIRC another 10-12 years to run
2. About a sixth of it's debt is long term fixed
3. About a sixth is long term variable but with swaps to fix the rates
4. The remaining sixth is floating rate with real interest rate exposure.

Note - my numbers are a bit "rounded". It's how I remember it so I'm sure "about a sixth" could easily mean either 10% or 20%

[smidge21] 22/6/2022 09:46

The rise in corporate bond yields narrows the yield premium for likes of NESF and is a headwind for the SP

[tuftymatt] 22/6/2022 09:36

Yeah I thought that negative news from a few weeks back would have seen a recovery in prices by now too. I guess the general "energy" drop impacts this sector more. Long term we are in a good place but short term the markets are rough so have to expect to be dragged down with them I guess.

[cc2014] 22/6/2022 08:55

That's good news. It would be great to see all the renewable sector move back up to the share prices they were before the government thought about this mad tax

[williamcooper104] 21/6/2022 23:23

FT reporting that a windfall tax on electricity generators looking unlikely

[tuftymatt] 13/6/2022 13:31

Yeah to see it above the red line is a big positive today!!

[panshanger1] 13/6/2022 10:24

Decent volume again and some strength on a tough day for markets Good port in a storm ?

[gateside] 10/6/2022 18:03

That's why I like DORE - as their Hydro plants are in Sweden. Reliable rainfall for much of the year.

[melton john] 10/6/2022 17:58

wc104 310 "Hydros the best as they are perpetual assets" unless your water supply is Lake Mead which is only 30% full I hear. It supplies the hydro-electric at the Hoover Dam in USA, they might be saving water.

[cc2014] 10/6/2022 12:02

Today I am no longer frustrated at the share price of NESF. Sure I think it's still too low but 112p feels alot better than the 108p it was hanging around a week ago.

It's strange how these things work because there's no particular buying on the other renewable funds today

[panshanger1] 10/6/2022 11:21

Full year results 27/6

[williamcooper104] 09/6/2022 17:53

It's why I liked Brookfield Renewable Partners (BEP) - however BEP got stupid expensive so dumped it Funny - just looking at DORE - nice geographies too