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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Nextenergy Solar Fund Limited | LSE:NESF | London | Ordinary Share | GG00BJ0JVY01 | RED ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.20 | 0.25% | 79.20 | 721,218 | 16:35:22 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 79.40 | 79.50 | 79.60 | 79.00 | 79.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Investors, Nec | 8.82M | -8.36M | -0.0141 | -56.31 | 466.75M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:35:22 | UT | 32,309 | 79.20 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 04/10/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Transaction in Own Shares |
| 03/10/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Transaction in Own Shares |
| 02/10/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Transaction in Own Shares |
| 01/10/2024 | 07:01 | UK RNS | NextEnergy Solar Fund Limited Total Voting Rights |
| 01/10/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Transaction in Own Shares |
| 30/9/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Transaction in Own Shares |
| 27/9/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Transaction in Own Shares |
| 26/9/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Transaction in Own Shares |
| 25/9/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Transaction in Own Shares |
| 24/9/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Transaction in Own Shares |
Nextenergy Solar (NESF) Share Charts1 Year Nextenergy Solar Chart |
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1 Month Nextenergy Solar Chart |
Intraday Nextenergy Solar Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 30/9/2024 | 14:10 | NextEnergy Solar Fund | 1,020 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 15:35:22 | 79.20 | 32,309 | 25,588.73 | UT |
| 15:29:48 | 79.50 | 31 | 24.65 | O |
| 15:29:48 | 79.40 | 12,177 | 9,668.54 | AT |
| 15:28:01 | 79.42 | 40,300 | 32,007.19 | O |
| 15:26:24 | 79.40 | 521 | 413.67 | AT |
| Top Posts |
|---|
Posted at 04/10/2024 09:20 by Nextenergy Solar Daily Update Nextenergy Solar Fund Limited is listed in the Investors, Nec sector of the London Stock Exchange with ticker NESF. The last closing price for Nextenergy Solar was 79p.Nextenergy Solar currently has 590,821,185 shares in issue. The market capitalisation of Nextenergy Solar is £469,112,021. Nextenergy Solar has a price to earnings ratio (PE ratio) of -56.31. This morning NESF shares opened at 79p |
Posted at 09/7/2024 09:53 by marksp2011 You would be better charting power prices and interest rates. NESF will move in line with them. Past values of the share price are irrelevant |
Posted at 19/6/2024 08:13 by masurenguy Well yesterdays solar asset sale was at a premium to its booked asset value. This confirms the current value of its portfolio. Buying shares back at a discount to NAV also further enhances it and this, combined with the asset disposal programme, should see the discount to NAV reduce and trigger a further shareprice rise as we saw late on yesterday."NextEnergy Capital have worked tirelessly over the last year to deliver two successful phases of the Company's Capital Recycling Programme at attractive premiums for NextEnergy Solar Fund shareholders. The attractive premium to carrying value for both projects further reinforces our view that the share price discount remains unjustified. The team remains focused on continuing to drive forward the remaining phases of the Capital Recycling Programme to further drive down short-term debt levels and return value to investors." Ross Grier, Chief Operating Officer. |
Posted at 18/6/2024 23:40 by insanityideas Additionally to the good points Chucko made... The dividend payments that a fund gives out are equivalent to the interest payments on a loan. Buying back shares means fewer shares receiving a dividend so the overall cost of the dividend is reduced.A fund Issuing shares is like taking out a very long term loan (with the flexibility to cancel interest payments). Buying back shares is like paying down a loan. Long term Shareholders should view this as increasing the security of the dividend, short term shareholders can take their profits should this positively affect the share price.Buying back shares when they are cheap is a smart move (and explicitly written into the terms of the fund - if price falls below NAV directors have authority to buy back shares). It's only throwing money away when companies do it when the share price is at an all time high.If they don't currently have any decent assets to recycle funds into purchasing then this buyback puts those funds to use by reducing dividend outgoings. The only potential red flag is why can't they find suitable assets (that's part of the asset managers core job), and in the current climate a new share issue wouldn't get a good price, tying their hands on raising back this capital until share price gets closer to or above NAV. |
Posted at 29/5/2024 08:42 by cc2014 That article on FTSE is too black and white.As of Friday based on a share price of 72.6p, NESF would have been demoted. Had the share price been 72.7p it would stay in. It's that close. |
Posted at 15/5/2024 16:48 by marktime1231 Standing back from that pressure it is still a silly time to be selling off performing assets while values are low. The whole point of NESF is to accumulate productive assets which they point out cover a superior dividend never mind the interest rate environment.Where has recent surplus cash flow been deployed, it doesn't seem to have delivered much support to NAV or the share price If the share price has been trailing NAV by 25-35% in the last 6 months you might argue that a little buyback would be money well spent. Again I'm only quibbling, generally happy with NESF and its super income I just don't want them to spoil things for the long term. |
Posted at 15/5/2024 11:33 by marktime1231 At last some meat on the Capital Recycling bones. Apparently 4 operational sites together 186MW are going through third-party due diligence. I wonder if the outlook for broad dividend cover 1.1-1.3x reflects the potential drop in cash flow if 15% or so of income generators are sold off to reduce net debt. Targetting a tiny dividend increase is neither here nor there in that context.Unless the sales are at a healthy premium it makes me think why sell off performing assets, gearing is still within target. Perhaps NESF are itching to participate in future NextEnergy ventures and want some capital to play with. Which suggests a conflict of strategy between continuing to be a superior income play and being an asset developer. Disappointed there has been further erosion of NAV but that is the declining power price backdrop for you. And no mention of the elephant in the room ... a roughly 25% discount to NAV in the run up to a potential discontinuation vote at the AGM in August. The prospect of asset sales at or around NAV is clearly not saving the day, so what else are you going to do about it NESF? edit - which sounds negative but actually things are fine so long as the healthy dividend is well covered and the share price continues to recover steadly. |
Posted at 19/3/2024 11:58 by marktime1231 Assuming the continuation vote has arisen because the discount to NAV has been averaging above 10%. Actually the discount has been over 30% for a month now, and no amount of good news is moving the share price That Camilla is 6-9 months late has been pasted as good news. Not sure, only 1 hr duration is not where we need to be. The prospect of a sharp NAV correction, heavy debt and looming refinance at higher interest rates leading to dividend cut ... all very well moaning the low share price is unjustified but NESF have not come up with a convincing response. The "capital recycling" didn't attract external buyers. In which case a discontinuation is not a welcome prospect. If there is still comfortable surplus cash flow maybe they will try a buyback but they haven't because? But you shouldn't borrow to buyack your own shares should you. Finding it very hard to decide if NESF is stuck and it is time to move on or whether it is due a rebound and worth doubling down. An audited NAV and details of net debt and the dividend cover provided by current run-rate operating cash flow due early June I think. Can we rely on an unaudited NAV update, superficial operations update and final dividend announcement in early-mid May? Actually what will move things more than anything is the start of interest rate cuts to ease the pain of refinancing. |
Posted at 23/2/2024 09:44 by tag57 Rambutan, thank you for the link. A good podcast I have now signed up to.Shows the importance of focussing on the contracts the alt energy fund has in place and something I will definitely pay more attention to in the future. I have too much invested in NESF and taken a substantial paper loss over the last 18 months although this share price reduction is certainly not solely restricted to this fund. I am hopeful that as the BOE reduce interest rates the share price will come back to at least cover my net purchase cost (investment - divi) but shall have to see. At least I continue to get paid while I wait. |
Posted at 25/11/2023 16:44 by masurenguy NextEnergy Solar Fund Manager says share price "unjustified" after solid interimsNextEnergy Solar Fund Ltd (LSE:NESF) Manager Ross Grier visits the Proactive London studio to speak with Thomas Warner following the release of interim results for the six months ended 30 September 2023. Grier discusses the fund's performance, noting a slight decrease in net asset value, primarily due to an increased discount rate for UK assets, reflecting the current high-interest rate market. He says NESF successfully launched the Whitecross Solar Farm (36 megawatts) in the UK and is advancing the construction of the Camilla Battery Storage asset, set to be operational in the first half of 2024. A key achievement highlighted by Greer was the progress in NESF's capital recycling program, which involves selling assets to fund growth opportunities. This strategy was exemplified by the profitable sale of the Hatherden asset at a significant premium. Focusing on generating total returns for investors, NESF prioritises operational excellence and dividend growth, maintaining a strong track record as a dividend payer with a current target of 8.35 pence. Looking ahead, Grier says that NESF will continue emphasising operational efficiency across its assets, advancing the capital recycling program, and integrating the Camilla battery storage asset into its portfolio. He suggests that the current share price is "unjustified" given the performance of the fund so far this year. He projects a positive outlook for NESF, anticipating a share price increase aligned with net asset value as market sentiment improves. Disclosure: I have a holding here. |
Posted at 28/4/2023 07:56 by masurenguy NextEnergy Solar puts assets up for sale to raise capital, buy back sharesRenewables fund hopes sale of five solar assets will generate enough money to cut its debts, provide funds for investment and buy back shares currently on a 12% discount. NextEnergy Solar (NESF) is selling a big slug of its portfolio in a bid to tackle its share price discount, cut debts and re-invest in battery storage. In what analysts see as a test case for renewables funds, whose share price de-ratings have prevented them from raising money through equity issues, NESF has put five unsubsidised UK solar assets up for sale. Although the investment company did not say how much it was looking to raise, it said it aimed to ‘capture significant value’ from the sale of the 236MW portfolio. This represents 28% of the 865MW total capacity NESF had last September. With a current net asset value (NAV) of £717m that could imply a price tag of up to £179m. Alternatively, excluding two assets under development, the generating capacity reduces to a sixth of the current portfolio which gives a lower sum of £119m. Underlining the size of the transaction, NESF said it would use the proceeds to ‘materially reduce’ its £166m of borrowings and provide funds for its £500m investment pipeline and launch a share buyback programme to narrow its 12% discount to NAV. Numis Securites analyst Colette Ord said the assets would have to sell for £0.7m per MW to clear NESF’s credit facilities with NatWest, AIB Group and Santander. ‘Any outcome will also be interesting for the broader renewables peer group, where shares have been trading at notable discounts to NAV. Something we feel undervalues the return potential of many of the funds in the sector, including yields of 6-7%,’ the analyst said. Ord added: ‘The market will watch the valuation multiples with interest and if they continue to support or exceed current NAV levels we would expect this to be a rerating catalyst to close many of the prevailing discounts which persist across the various infrastructure strategies.’ Winterflood’s Emma Bird said: ‘At face value, we consider today’s announcement a prudent step to strengthen NESF’s balance sheet. Asset disposals will serve as an important barometer for current valuations of solar assets in the wider sector.’ Bird said the divestment had the additional benefit of reducing NESF’s tax liability with respect to the UK’s Electricity Generator Levy, and tilted the portfolio more towards capital growth which in aggregate is NAV accretive. She described NESF’s the 12% discount as a ‘compelling entry point’. Stifel’s Iain Scouller retained his ‘positive&rsqu The shares added 1.6p to 108.4p. Over five years, including dividends, they have provided a total return of 34%, among the lowest in the sector. |
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