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Pin to quick picksGood Enrg Share News (GOOD)

Share Price Information for Good Enrg (GOOD)

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Share Price: 246.00
Bid: 242.00
Ask: 250.00
Change: -9.00 (-3.53%)
Spread: 8.00 (3.306%)
Open: 255.00
High: 255.00
Low: 246.00
Prev. Close: 255.00
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Canaccord Genuity raises target price on Good Energy

Wed, 26th Jan 2022 08:57

(Sharecast News) - Analysts at Canaccord Genuity raised their target price on renewable energy company Good Energy from 450.0p to 475.0p on Wednesday, citing the firm's mostly profitable 2021 performance and its stake in Zap-Map.
Canaccord noted that the Good Energy of today was two business lines - a UK-wide deep green supply operation, more commercial than retail, with a more than a ten-year track record of profitability, exempt from the price cap, and trading, mostly, profitably through 2021.

However, the analysts also pointed out that Good Energy also had a 50% stake in Zap-Map, an electronic vehicle charging app, which has grown in line with UK EV rollout, roughly doubling every 12 months, and has plans to expand to new geographies.

The Canadian bank stated that following the sale of its generation portfolio to Bluefield Solar Income Fund, providing it with equity proceeds of £16.0-24.0m, Good Energy should close the year with a roughly £3.0m net cash position.

In addition to this, Canaccord said Good's supply business was experiencing "unusually high working capital" of at least £15.0m above normal, which it expects to reverse going into 2023 as the UK energy market gets closer to "a new equilibrium".

"With the group likely to generate circa £8.0m in EBITDA from '23E onwards, and significant potential upside from Zap-Map, we find it difficult to justify the current share price," said the analysts.

"We remain BUYers with a new price target of 475.0p (was 450.0p), of which circa 135.0p is cash, at which the stock would trade at just 10x/7x/5x 22/23/24E EV/EBITDA."
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Good Energy To Raise GBP3.1 Million To Back Growth Plans (ALLISS)

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UPDATE: ITM Power Launches First UK Refuelling Station

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EXTRA: ITM, Good Energy Search For Clean Power For Hydrogen Stations

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ITM And Good Energy To Work On Renewable Energy For Hydrogen Fuelling

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18 Mar 2016 11:37

Good Energy customer numbers surge but profit slips

(ShareCast News) - AIM-listed Good Energy posted a 44% rise in customer numbers in 2015 as more people opted to sign up with smaller energy firms. In its preliminary results for the 12 months to the end of December, the renewable energy company said customer numbers rose to 219,400 from 152,500 in 2

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18 Mar 2016 08:43

Good Energy Profit Down But Revenue And Customer Numbers Increase

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22 Feb 2016 15:16

Independent Energy Suppliers Capitalise On High Levels Of Switching

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12 Feb 2016 16:07

Good Energy Makes Deeper Cut To Gas Prices Than Big Six Suppliers

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12 Feb 2016 16:03

Good Energy cuts gas prices 7.2%

(ShareCast News) - Good Energy has followed larger energy supply rivals like British Gas and E.On with its own 7.2% cut to gas prices. The AIM-listed renewable energy supplier said it would cut gas prices for new and existing domestic customers from 1 April, with the result being an annual saving of

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29 Jan 2016 09:09

Good Energy Commissions New Five-Megawatt Solar Farm In Dorset

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31 Dec 2015 07:45

Good Energy Group Shares To Start Trading On ISDX Thursday (ALLIPO)

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