I'm hoping and of the thinking that this has turned a corner now, it has well held it's own in these turbulent last few weeks, indeed rising.
The buy backs, dividend, sp, and the renewed interest in Trig in these times of renewables being a good place to go are all helping the sp, it trickled a long way down, far too much for my liking without solid reason.
Hopefully now it will trickle a long way up to where it should be. |
No notice of AGM as yet, I note. Share price has been quite strong over the last couple of weeks. Hmmm.
CGT referred to building an actionable position in a wind renewable in its webcast yesterday. So that has to be either TRIG or UKW. Both have upcoming AGMs, and UKW has a continuation vote, but to my mind TRIG is perhaps a better target for activists.
To be clear, I've come around to rather liking TRIG and what it offers and are happy to hold and compound the 12% pa + returns in my sipp over the long term. |
Last Factsheet:
They claim diversified exposure to 6 different energy markets, but when you look closely they list 7, splitting out "England & Wales" & "Scotland", with those two making up 58% of the portfolio.
They're also big on:
"TRIG owns a balanced and diverse portfolio, reducing the risk from over-concentration in individual assets, technology types, weather systems, power markets and regulatory frameworks.."
Yet 74% of it is wind, so that's been carefully worded.
Trying to find a tariff angle, but other than weak oil ultimately hitting energy prices, and/or recession hitting power demand, it's difficult to see why TRIG would be affected. |
With possibly more cuts than expected coming from B of E too -might be a catalyst for a reasonable recovery in this sectorLike you l have quite a few ! |
Book-talking, but can't see TRIG (& others, eg FGEN, UKW, the solars) not coming good in this market. They were beaten up before, on high yields, with a lot of guaranteed cashflows. Now they've been thrown out with the bathwater.
There's at least some power price exposure - with oil weak & set to get weaker - but balanced against lower longer rates. Nothing's entirely recession-proof or market-crash-proof, but feel pretty comfortable with these. |
Taken a few more today Reasonable uptrend since news of the continuation vote and fees shake up Limit reached though Bring on the vote l say ! |
I know it's a big 'un, and trades large (say 6m/day avg?), but those buy backs have to have an effect eventually - they're big. |
Of interest to those of us loaded to the gunnels with the likes of TRIG, FGEN etc: |
A real divergence between Trig and UKW in the last week, Trig up 4% and UKW down 6% and at an annual lows. Not the best backdrop for pushing on from 75p, and as per my post above Hargreaves must be a factor in a price comparison change of 10%. |
Hargreaves, the largest retail Broker, unbanning Trig buys because of compliance issues. |
Hargreaves? I don't know who that is but I think the share price can only go one way now, which is up, with a continuation vote next year. The share price should be in the mid 80s now. |
Hargreaves factor playing out in this Trig recovery. UKW, GCP Infr etc heading in the opposite direction in the wake of a big UK Bond sell off and yields at 4.83 on the UK10. The Markets ponder a fiscal doom loop post Spring Statement. |
The Renewables Infrastructure Group Limited (LON:TRIG -) insider Erna-Maria Trixl acquired 13,650 shares of the firm's stock in a transaction on Thursday. The stock was purchased at an average price of GBX 75.50 per share.
Erna-Maria Trixl Buys 13,650 Shares of The Renewables Infrastructure Group Limited (LON:TRIG) Stock
| insidertrades.com |
Peel Hunt analyst Markuz Jaffe was unsurprised by the fee revision. He pointed the move will bring TRIG’s charges ‘more in line with peers’, where it is common to see a 50:50 blend of NAV and market cap fee with no transaction or takeover levies.
‘This about-turn may help to relieve some of the pressure on TRIG’s share price, which has been trading at a 38% discount, wider than the peer group weighted average discount of 32%,’ he said. |
Broken out of the chart downtrend :-) |
If the NAV is ~115p are we saying that if this failed a continuation vote they'd look to sell all the assets at hopefully around the price of the NAV and return to shareholders less any fees?
If so then at this level it's a bargain unless assets fall substantially in value.
Also could there ever be a risk that if multiple IT's in this sector all wound up in similar times frames you could have a fire sale? thus making everything cheaper than the NAV would suggest.
Hope that makes some sense.. |
The more that wind up, the more the money concentrates on those remaining, closing discounts and making them less likely to disappear.
The problem is when there's sectors/sub-sectors with no investment options left, or when things go out on the cheap (most of the REIT t/o's so far).
But atm there's too little money chasing too many "themes".
Agree that if the business case is there, there's little point selling out/winding up irrespective of discount. But that's what the voting is for. |
What income investor wants a payday though. Going to end up being over-invested in a smaller number of stocks.
Worse than that, by the time the assets might be sold off, the price of the other high yielders might have risen and dropped the yield.
Perhaps I’ll over-invest in some that are unlikely to be sold off or taken over now, as a hedge. |
Yes 10% decidedly aspirational. Either they know which way the major shareholders will vote, or (as the removal of the fee on wind-up shows) we're in for a payday next year.
TRIG now my largest holding - I'd like to claim via judicial buying, rather than via averaging down like a madman (started at 97.5p only a matter of months ago). |
The discount threshold to avoid the continuation vote is only 10%. Barring a miracle there will DEFINITELY be a continuation vote next year. NAV is 115p |
At least the IT industry is moving in the right direction. Long overdue if bods have done a proper job. Nav means nothing but more costs to shareholders if it cannot be realised by shareholders but means everything to them when they charge shareholders based on it. |
“Having listened to shareholders and carefully considered their feedback, the Board has refocused and updated its original proposals.” I think the word they are looking for is “dropped”;.
Sense prevails. I’m still going to vote against the board’s reelection though… |
Fee drop & introduction of continuation vote:
"...The previously proposed takeover and transaction fees will not be introduced. The notice period under both the IMA and OMA will remain 12 months.
The New Fee arrangement will apply from 1 April 2025[1]. At the prevailing share price, this change will result in a reduction in the ongoing, annualised Management Fee by 28% or 0.3p per share, compared to the Management Fee paid in 2024. " |
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