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Cornhill Capital sees strong investor enthusiasm in London IPOs Watch here

Cornhill Capital sees strong investor enthusiasm in London IPOs


Opg Power Share Chat (OPG)



Share Price: 47.50Bid: 47.00Ask: 48.00Change: 0.00 (0.00%)No Movement on Opg Power
Spread: 1.00Spread as %: 2.13%Open: 47.00High: 47.50Low: 46.75Yesterday’s Close: 47.50


Share Discussion for Opg Power


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Ctw2014
Posts: 1,235
Observation
Opinion:No Opinion
Price:47.25
Matylda
Thu 07:51
Fair enough and good luck with your investments elsewhere. I am still sticking it out and have to believe that this will turn the corner. Still convinced the drift is due to a persistent large seller. Value has to out eventually.
 
matylda
Posts: 108
Off Topic
Opinion:No Opinion
Price:47.00
Relented Today
Wed 15:34
Enough is enough - Capital can be used elsewhere - Sold today - Now flat on this one.

Remember - Never average down - Even though it helped out (a little) - It was harder seeing it hardly move when ther things I have bought are moving.

Good luck here to all - All I can see is a decent company albeit with too much debt which should have been paid down rather than issuing a maiden div.
Andyforster
Posts: 11
Off Topic
Opinion:No Opinion
Price:48.00
RE: Delayed Payments
11 Apr '17
Drops any further I'm adding
interesting
Posts: 1,260
Off Topic
Opinion:No Opinion
Price:47.50
RE: Delayed Payments
11 Apr '17
Thanks very much for that ctw - good to know
Ctw2014
Posts: 1,235
Off Topic
Opinion:No Opinion
Price:48.00
Delayed Payments
11 Apr '17
Hi Interesting. If you look at the note immediately below the table on trade receivables you will see that £15.7m was paid by TANGEDCO after the period end re sales made May 2015 - July 2015 and Oct 2015 - March 2016. Furthermore, in the half year report dated 6/12/16 it is stated that "Approx £19m has been collected from TANGEDCO since March 2016 and recovery of old amounts continues to progress." Accordingly, I don't personally see this issue as cause for significant concern.
interesting
Posts: 1,260
Off Topic
Opinion:Hold
Price:48.00
Trade receivables
11 Apr '17
Hi Andy. I'm no expert but I think the issue might be related to the delayed payments. If you go to the 2016 OPG accounts (on their website) and look at page 66 and look at trade receivables; there are £56.7m in total of which £25.5m over 180 days. Perhaps this is what has caused the selling and the change in Shore Capital rating. I do note that none of the trade receivables are shown as "impaired" but the figures are a bit concerning imvho. I continue to hold but won't add until that is resolved.
Andyforster
Posts: 11
Off Topic
Opinion:No Opinion
Price:48.00
RE: Re recent selling
10 Apr '17
I can understand people being nervous about the large debt pile but as a utility supplier our revenue is solid and the debt is getting paid down yoy.

I would rather they pay the debt down than pay a dividend but I guess the bod want some cash back after their initial investment because they've not seen much capital gains over the years
Ctw2014
Posts: 1,235
Observation
Opinion:No Opinion
Price:48.00
Re recent selling
10 Apr '17
What bad news do you have in my mind Totalnew? I don't remember too much of that myself.

I must say I think the Company's performance over the last couple of years has been good.

The share price performance has indeed been poor, but that is down in no small measure to the consistent selling pressure we have been seeing for some time now.

According to my broker's website the P/E ratio for the year ended 31/3/17 is 7.8 reducing to a mere 6.2 in the following year. A bargain. Personally I am looking forward to the results and like Andyforster, I am staying put. As soon as the selling drys up, this will turn, in my view, but good luck whatever you decide.
Totalnew
Posts: 64
Off Topic
Opinion:No Opinion
Price:48.00
RE: Recent selling
10 Apr '17
Andyforster ... a lack of basic information, together with the drifting of the SP is giving me the jitters, so I am thinking about cutting my losses. am concerned that they may suddenly Spring some bad news come results time, as they seem to do quite frequently.
I am trying to rationalise what I think 'good' means for these shares, versus what I think 'bad' could be. I struggle to see sufficient upside over a 5 year horizon, based on their performance over last couple of years. I haven't decided for sure yet, but I may cut my losses.
Andyforster
Posts: 11
Observation
Opinion:Hold
Price:48.00
Recent selling
10 Apr '17
A little bemused by the recent selling, 4th qtr results due in May which will only show increase in revenue, decrease in debt minus the debt taken for the solar project at Karnataka which is due for commissioning asap. Two massive buys went in on the 6th & 7th for £98k and £22.5k

You don't spend that kind of cash if your not 100% positive on your position.

Would be good to get others opinions but I'm going nowhere




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