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OPG Opg Power Ventures Plc

0.05 (0.45%)
20 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Opg Power Ventures Plc LSE:OPG London Ordinary Share IM00B2R3RX72 ORD 0.0147P
  Price Change % Change Share Price Shares Traded Last Trade
  0.05 0.45% 11.05 699,466 16:35:02
Bid Price Offer Price High Price Low Price Open Price
11.00 11.25 11.25 11.125 11.25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Electric Services 58.68M 7.45M 0.0186 5.98 44.56M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:02 O 178,168 11.2225 GBX

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Date Time Title Posts
16/5/202411:06OPG Power1,259
27/10/202202:26OPG Power Beware of self confessed scammer4
29/5/201414:39OPG Power - India1,638

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Opg Power Ventures (OPG) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Opg Power Ventures (OPG) Top Chat Posts

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Posted at 20/5/2024 09:20 by Opg Power Ventures Daily Update
Opg Power Ventures Plc is listed in the Electric Services sector of the London Stock Exchange with ticker OPG. The last closing price for Opg Power Ventures was 11p.
Opg Power Ventures currently has 400,733,511 shares in issue. The market capitalisation of Opg Power Ventures is £44,561,566.
Opg Power Ventures has a price to earnings ratio (PE ratio) of 5.98.
This morning OPG shares opened at 11.25p
Posted at 14/5/2024 12:46 by rivaldo
Cavendish have a 27p target price - over 100% upside from here.

They conclude:

"We estimate that the replacement cost of OPG’s Chennai plants would be around £325m based on the projections by the Indian government for additional capacity to be installed in India by 2030. Meanwhile, on the operating cost side, we note that coal prices remain significantly lower than their levels from FY22 and FY23, with further supply expected to come online during the next two years. With favourable trends on both electricity demand and costs, we believe that OPG is well positioned to return to annual EBITDA of £3040m in the medium-term, a level which was achieved in each of FY19, FY20 and FY21.

- Investment conclusion:

Based on medium-term prospective EBITDA of £30-40m, the current valuation represents a multiple of 1.4-1.8x. The company also benefits from a low degree of balance sheet leverage relative to other electricity utilities in India, as well as an asset base which positions OPG at the lower end of the cost curve for Indian electricity producers. We reiterate a target price of 27p, which would represent a 2.5-3.3x EBITDA multiple based on our mediumterm estimate range of £30-40m EBITDA."
Posted at 14/5/2024 12:24 by igoe104
Cavendish upgrades.

OPG Power has released a positive trading update for the year ended 31 March 2024, and now expects to exceed previous market expectations at the EBITDA and revenue level. The company continued to benefit from a stronger revenue run-rate during H2/24 compared with FY23, reflecting greater availability of profitable supply contracts, which in turn have enabled OPG to run at higher levels of plant utilisation. We are raising our revenue forecast for FY24 by 22% to £162m, and our EBITDA by 34% to £1
Posted at 01/5/2024 16:32 by tim000
I guess the recent upturn in share price is associated with weakening coal prices. IC4 prices are back down to around $54/t, having been around $59/t recently.
Posted at 01/2/2024 07:43 by dave4545
I'm not seeing any small cap stock come out with numbers to match OPG or get close.
BBSN last week were good, today Mtec at half the valuation of OPG says a "strong performance" with £1.4 mil ebitda

What did OPG make..£7.8 mil ebitda in first half and over £4 mil PBT not to mention the huge net cash position.

This penny share market is the most bearish for a while, loads of stocks tanking because they need to raise money and OPG cannot even command a respectable valuation yet it makes lots of profits again and generates a lot of cash.

It makes more money than Hvivo numbers the other day, has half their cash position but only worth a fifth of their valuation near £200 mil

Think OPG is very unloved but it's been like this for years
Posted at 02/1/2024 09:47 by rivaldo
I've bought back in here for the first time in ages recently on the dip, which was a pleasant surprise as I thought the share price would get away from me.

There are many obvious reasons for buying here, including the cash generation, the much reduced price of coal, growing demand for power, the Indian government's push for growth, the low rating etc - and above all the potentially very large share price upside.
Posted at 09/11/2023 12:25 by dave4545
Ah thank you.

I was going to ask them about buying back shares, it just seems nailed on, if a share price or a value share price refuses to move then use a fraction of the cash to buyback stock it's just so simple.
Posted at 01/11/2023 10:39 by tim000
Drax, the UK listed genco, has a current mkt cap of £1.6bn and an EV/EBITDA ratio of ca 3.5 (annualising the 2024 H1 results). Its net debt is £1.3bn and book value £1.6bn, so is currently trading at about book value. DRX is considered to be undervalued. OPG is obviously tiny in comparison. It has a current EV value of just £21mn (based on August’s net cash of nearly £20mn), and a historic EV/EBITDA ratio of about 1.5 (based on Cavendish’s estimated EBITDA for FY23). Its current mkt cap is only about 25% of book value, even though it has nearly 50% of its mkt cap in net cash and is part of a much stronger power market, with booming electricity demand. Compared with DRX, the only thing it lacks is a dividend policy. If OPG introduced a 0.5p dividend it would have a comparable yield to DRX. Based on this comparison, OPG is surely worth at least double its current share price.
Posted at 31/10/2023 10:50 by tim000
People often make comments such as why didn’t our company do a capital raise at the share price peak of x, when the share price is now x/2? As if there is unlimited capital available at any given share price. Obviously institutions weren’t willing to buy at x which was considered inflated by short term buyers. The same principle is true for buybacks, as Goldbug says. No one would have sold their shares at a buyback price equating to the depressed market price. And non execs wouldn’t have condoned a takeout of minority shareholders at such a price.
Posted at 25/10/2023 19:55 by tim000
At the current share price, I agree with you that a buyback would improve shareholder value. In many cases though, management are far too biased about their own abilities and overpay for the equity they manage. In general, it’s not the job of management to pretend they’re fund managers - especially when buying their own shares. Shareholder communications often suffer the same problem - excessive optimism.
I should add however that I wouldn’t expect a buyback policy to harvest a meaningful proportion of the equity at around the current share price, but there’s no harm in trying I suppose.
Posted at 25/10/2023 16:55 by tim000
Of course. But the company can only control its business, not the share price. No doubt a higher share price will arise eventually. The company has rightly prioritized reducing indebtedness in recent years, and has dramatically achieved that. The share price completely ignored that progress. Perhaps reinstatement of the dividend this year might improve sentiment.
Opg Power Ventures share price data is direct from the London Stock Exchange

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