NextEnergy Solar Fund Limited Red (NESF)

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FTSE 250

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119.00p
   
  • Change Today:
      1.00p
  • 52 Week High: 124.50
  • 52 Week Low: 107.50
  • Currency: UK Pounds
  • Shares Issued: 581.73m
  • Volume: 233,043
  • Market Cap: £692.26m
  • Beta: 0.01

NextEnergy's NAV flat in first half

By Iain Gilbert

Date: Friday 17 Nov 2017

LONDON (ShareCast) - (ShareCast News) - Solar energy business NextEnergy reported a broadly flat net asset value (NAV) for the six months leading to 30 September as falling power prices were offset by reductions in discount rates, valuation increases in new assets and the firm's overall operating performance.
NAV per share rose from 104.9p to 105.1p, taking total shareholder return and NAV total for the half to 4.7% and 3.2%, respectively.

NextEnergy, which drew down on the final tranche of its £150m long-term facility to refinance its Apollo portfolio during the half, said it was "executing the pipeline of acquisition targets" as it looked to expand upon its solar assets in the UK by adding as much as another 193 megawatts to its portfolio.

The firm added that it was "on track" to pay its target dividend of 6.42p for the twelve months ending 31 March 2018.

NextEnergy advised that it had also made its first international acquisition after the period's end, collecting a total of eight operating solar plants in Italy.

Kevin Lyon, the group's chairman, said he was pleased by NextEnergy's move of "acquiring a high-quality portfolio of eight operating solar plants in Italy for an equity value of GBP 48.5M."

"This portfolio will generate immediate dividend cover-enhancing cash flows with low power market risk, while the euro-denominated long-term debt already in place and the intended currency hedge mitigate volatility from possible changes in the exchange rates," he added.

As of 0845 GMT, shares had dropped just 0.10% to 105.14p.

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NESF Market Data

Currency UK Pounds
Share Price 119.00p
Change Today 1.00p
% Change 0.85 %
52 Week High 124.50
52 Week Low 107.50
Volume 233,043
Shares Issued 581.73m
Market Cap £692.26m
Beta 0.01

NESF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.72% above the market average66.72% above the market average66.72% above the market average66.72% above the market average66.72% above the market average
17.86% above the sector average17.86% above the sector average17.86% above the sector average17.86% above the sector average17.86% above the sector average
Price Trend
57.59% above the market average57.59% above the market average57.59% above the market average57.59% above the market average57.59% above the market average
56.45% above the sector average56.45% above the sector average56.45% above the sector average56.45% above the sector average56.45% above the sector average
Income
55.88% above the market average55.88% above the market average55.88% above the market average55.88% above the market average55.88% above the market average
56.25% above the sector average56.25% above the sector average56.25% above the sector average56.25% above the sector average56.25% above the sector average
Growth
75.23% above the market average75.23% above the market average75.23% above the market average75.23% above the market average75.23% above the market average
65.98% above the sector average65.98% above the sector average65.98% above the sector average65.98% above the sector average65.98% above the sector average

NESF Dividends

  Latest Previous
  Q4 Q3
Ex-Div 23-May-19 21-Feb-19
Paid 28-Jun-19 29-Mar-19
Amount 1.66p 1.66p

Trades for 14-Jun-2019

Time Volume / Share Price
16:35 339 @ 119.00p
16:29 200 @ 119.50p
16:28 117 @ 119.50p
16:17 134 @ 119.50p
16:15 5,675 @ 119.00p

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