NextEnergy Solar Fund Limited Red (NESF)

Sector:

Investment Firms

Index:

FTSE 250

121.50p
   
  • Change Today:
    -0.50p
  • 52 Week High: 124.50p
  • 52 Week Low: 109.00p
  • Currency: UK Pounds
  • Shares Issued: 583.62m
  • Volume: 263,505
  • Market Cap: £709.10m

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 121.50p
Change Today -0.50p
% Change -0.41 %
52 Week High 124.50p
52 Week Low 109.00p
Volume 263,505
Shares Issued 583.62m
Market Cap £709.10m

NESF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.27% above the market average35.27% above the market average35.27% above the market average35.27% above the market average35.27% above the market average
9.79% below the sector average9.79% below the sector average9.79% below the sector average9.79% below the sector average9.79% below the sector average
Price Trend
49.37% above the market average49.37% above the market average49.37% above the market average49.37% above the market average49.37% above the market average
39.04% above the sector average39.04% above the sector average39.04% above the sector average39.04% above the sector average39.04% above the sector average
Income
74.95% above the market average74.95% above the market average74.95% above the market average74.95% above the market average74.95% above the market average
89.96% above the sector average89.96% above the sector average89.96% above the sector average89.96% above the sector average89.96% above the sector average
Growth
95.56% above the market average95.56% above the market average95.56% above the market average95.56% above the market average95.56% above the market average
93.51% above the sector average93.51% above the sector average93.51% above the sector average93.51% above the sector average93.51% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_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 14-Oct-2019

Time Volume / Share Price
16:35 33,087 @ 121.50p
16:29 119 @ 121.50p
16:29 318 @ 121.50p
16:28 156 @ 121.50p
16:27 990 @ 121.50p

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