NextEnergy Solar Fund Limited Red (NESF)

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 119.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 124.50
  • 52 Week Low: 108.00
  • Currency: UK Pounds
  • Shares Issued: 582.38m
  • Volume: 329,623
  • Market Cap: £695.94m
  • 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 119.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 124.50
52 Week Low 108.00
Volume 329,623
Shares Issued 582.38m
Market Cap £695.94m
Beta 0.01

NESF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
31.08% above the market average31.08% above the market average31.08% above the market average31.08% above the market average31.08% above the market average
16.81% below the sector average16.81% below the sector average16.81% below the sector average16.81% below the sector average16.81% below the sector average
Price Trend
64.46% above the market average64.46% above the market average64.46% above the market average64.46% above the market average64.46% above the market average
57.33% above the sector average57.33% above the sector average57.33% above the sector average57.33% above the sector average57.33% above the sector average
Income
71.37% above the market average71.37% above the market average71.37% above the market average71.37% above the market average71.37% above the market average
85.44% above the sector average85.44% above the sector average85.44% above the sector average85.44% above the sector average85.44% above the sector average
Growth
95.58% above the market average95.58% above the market average95.58% above the market average95.58% above the market average95.58% above the market average
92.92% above the sector average92.92% above the sector average92.92% above the sector average92.92% above the sector average92.92% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 2
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

NESF Dividends

  Latest Previous
  Q1 Q4
Ex-Div 22-Aug-19 23-May-19
Paid 30-Sep-19 28-Jun-19
Amount 1.72p 1.66p

Trades for 23-Aug-2019

Time Volume / Share Price
16:35 18,369 @ 119.50p
16:28 85 @ 120.00p
16:28 84 @ 120.00p
16:28 149 @ 120.00p
16:28 832 @ 120.00p

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