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To invest mostly in operating UK wind farms with the aim to provide investors with an annual dividend that increases in line with RPI inflation while preserving the capital value of its investment portfolio.
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£500k in two director buys last few days, and the sell off continues. Chartwise I reckoned on a bounce at 145 and a climb over 150 towards the summer ex-div. Now we have a bottom which is anyone's guess, or a rerate to a new yield. Is it the possibility of a Labour government setting new rules on subsidies ? Is there a fundamental justification for that 130p SP mentioned below? If so then why did those directors buy at 142/147. Or just a straightforward sell-off by a particular large holder, for reasons not market-related..
Interested in peoples opinions.
Divi too low here in comparison to other renewables. I will look to buy here at 130p or lower.
Well, after looking at NESF and BSIF (and having looked at other renewables companies recently), I still like UKW best. And even though I know I should diversify, I can't bring myself to buy second best! So I bought some more UKW, at 140p.
I'm still half-expecting a significant market correction from here, and holding back some cash and equivalents to take advantage of any bargains. LGEN is on my watchlist, but I'm wary of financials at the moment and waiting for a bigger margin of safety. I already own CSN, a smaller pensions company, with similar yield to LGEN, but seems less volatile.)
Prices still falling, so I'm in no rush to buy. Other renewables are looking good too, so I may diversify a bit. NESF has a forward yield over 8.2%, based on its target dividend of 8.35p. I'll take a closer look at it.
That said, I'm still concerned about the long term future for renewables investments, so a bit reluctant to buy more.
Get_rich_quick
So does Legal & General - and you'll enjoy 2x the dividend while you wait
Not advice or a recommendation just another potential option to consider!
I'm a huge advocate of UKW, but the BP share price does seem quite attractive at the moment!
I sold out at £1.59 a while ago and got back in at £1.48 last week.....Am surprised it's still dropping still have a bit left for this years isa it's a toss up between this and BP
From 12 months ago down from £1.60 ish. WeekEnergy prices n threat of Labour government GB Energy Company announcement in October 22. But at least good dividend.
I'm thinking about adding more on Monday too.
What has overly spooked the SP?
I've just read a report that UKW have funded £125k to assist with recycling old wind turbines, which I'm aware is an issue, but I can only presume market sentiment on a whole has pulled it back a few %.
That said, come Monday, I may add more, as we are now below my average share price.
https://renews.biz/86365/wind-turbine-recycling-project-secures-funding/
Hi wetherboy. Well, advances in energy storage technology would be good for renewables, but it doesn't follow that energy storage stocks are a good investment.
I'm looking for safe investments, so not so keen on companies which are developing the technology. I've looked at companies which use current battery technology, like GSF (which has a nice yield). I'm put off by the knowledge that lithium ion batteries degrade over time, though that shouldn't really matter if it's priced in. Anyway, I have GSF on my watch list, but I'm not biting yet.
By the way current yield on UKW just hit 6%!
Tichtich
And more generally I worry that there could be eventually be a glut of intermittent renewable energy, more than can be economically used.
Your 'worry' leads me to suggest investments in energy storage. Batteries of one kind or another or maybe green hydrogen if you can separate the wheat from the chaff.
Hi get_rich. I meant that I have an unusually large amount invested in UKW, nearly 10% of my retirement pot! So I don't really want to buy even more, but I might be tempted if the price was very attractive.
At one time I was even more concentrated in the renewables sector, with shares in FSFL, BSIF and ORIT, as well as UKW. But after the sector started becoming a political football last year, I started to have some doubts, and I sold all except UKW, my favourite. I still might buy a little FSFL again, if the price is right.
I worry about the overhaul of the electricity pricing system that's currently being discussed, as I suspect that probably won't be to the advantage of renewables. And more generally I worry that there could be eventually be a glut of intermittent renewable energy, more than can be economically used. I'm a worrier!
Hi, tichtich,
Overweighted in UKW that your portfolio is top heavy or are you suggesting your average Sp is high, which I think that's what you're saying as you'd like to wait for the SP to drop.
If your average Sp is higher than where we are, it can't be that much higher.
I think my average Sp is around £1.53, but I've had dividends along the way.
I hope the bottom doesn't fall out of this company as I'm fairly well invested here (by my standards).
Yep. Fruits of last year's "windfall" profits. We have the windfall tax now, but it doesn't look like there'll be any windfall profits to tax this year. (Actually, I haven't looked at the numbers for this year. I'm just guessing from the fact that gas prices have gone through the floor. But maybe they'll be up again in the winter. I'm not hoping for a cold winter and high gas prices, but if we get them at least my UKW shares will bring me some consolation!)
I'm so overweight UKW already that I'm looking for a lower price before adding more. But it's tempting, with the yield up to 5.9% last time I looked, compared with 5.3% when I first bought in 2021.
"Completion of the Acquisition of Dalquhandy wind farm
Subsequent to its announcement on 3rd April 2023, Greencoat UK Wind PLC is pleased to announce that it has completed the acquisition of Dalquhandy wind farm from BayWa r.e. with the purchase being funded from cash reserves."
The face that the acquisition was completed out of Greencoats cash reserves, and they didn't come tapping us share holders, bodes well in my opinion.
I keep topping up while we are below £1.50.
I keep saying it's my last buy but every now and then I get that nervousness where I need to buy / add more shares.
It's a disease...
Yes it is nice to see that buy, gives some confidence.
Https://www.lse.co.uk/rns/UKW/directorpdmr-shareholding-2m793zofmbt7w2t.html
Albeit, the buy is purchased by a Non-Exec Director, it's still a princely £150k purchase.
That one purchase is around 9 times the amount that I own...!
Oh to get rich quick....
ATB.
I agree, Actuary.
Unless there is a huge explosion with renewables or investments, this Sp will just (hopefully) continue to trickle upwards, but at the same time I'll keep on reinvesting my dividends.
I like this share and the foothold that it has in this progressive sector.
All the best.
Current dividend yield > 5.8%. Don't think it's ever been this high. If they maintain their commitment to increase the dividend in line with RPI, this implies a real return of 5.8% per annum, which is more than the UK equity market achieved over the 20th century.
Can't resist at these low prices.
This has proved a good long term hold.. Slipped a bit but think it will come back...
Correction...
Not a "Director" buy, as that sounds misleading, but certainly someone either Senior Exec or with insider knowledge of the company.
Nonetheless, they've got deep pockets and they've bought a princely sum.
Https://www.lse.co.uk/rns/UKW/directorpdmr-shareholding-9pvqlv4cwmyc030.html
A £400k director buy.
It's alright for some....