Member Info for stewart1964

I.875% quarterly dividend, sorry.

Couldn't hold the 98p openingand now effectively trading at 94p with the ex div imminent. That's an 8.2% yield off a compounding quarterly 1.01875% dividend ( and assuming the dividend isn't increased). The Market never ceases to surprise how low it can take this one. 8.2% after all is synonymous with badly indebted Dinosaur stocks.

Holding up quite well in view of the correction in Bond yields following the Budget...the 2 year swap is up about 15 basis points. Indeed the overall Market has probably faired worse. The carrot of the 1.875% ex div on the horizon probably helps.

Well the Market valued this at just 96p at one stage today or close to 94p with the imminent ex dividend. Interesting times. We've had proven disposals above the nav, the portfolio is rated as quality if not premium and there is virtually no debt. Even if there is no capital growth, an 8% dividend doubles an investment in just nine years. Clearly the Market thinks something isn't sustainable here. Even though I am taking a hit here, it's quite exciting watching how low the Market can take this one against what would seem to be fair value.

UKW close to annual lows too, total blood bath. As I pointed out on the other thread it's happening as we approach ex. Div so we are under 96p in real terms. The yield suggests the dividend isn't safe. However, unlike the racey strategy of UKW we are barely geared here; so it appears safe to me. If that is the case then the Market may be wrong with the huge nav discount. Invest when there is blood on the streets and all that?

Clearly should have took heed of my own warning on Sunday night that this was going to dip into the Budget..never expected a near 3% hammering mind. We are virtually ex div too, making the real price nearer 95p and an 8% dividend.

Yep Trig tried to find escape velocity from under a quid all week but was thwarted and pegged back at the end of each day. Price could be all over the place running into the Budget with some possible dips. We have already got a slight premium on Gilts due to Reeves tearing up the rules on the Deficit and there is always the worry that the premium on gilts could become an Idiot's premium if the spending goes too far.

CPI really surprised to the downside at 1.7%. Interest rate cut looks like a slam dunk in November, in spite of stubborn core inflation. Trig should have got rocket boosters off that news, but wallowing in the 96s. Talk about being contrary. Chartists no doubt wary, trends are always hard to break.

Well you have got an Ultra Dovish MPC which probably helps with the interest rate bit. My faith in the currency is almost wrecked by Bailey..we will probably hit 2% CPI this week (maybe 1.9%) all because of rock bottom oil, I filled up this week at 1 27 litre. Core is more like 4%. Yet Bailey and Dinghra are determined to cut, the 2% target 8s completely jettisoned imo. We have averaged 5% ovrt thd last 4 years as it is. Does make Equities with an inflation protected element more attractive. No wonder Bitcoin and Gold are flying, faith in Central Bankers is rock bottom.

Testing all time post Brexit lows of 2016. It's setting a new low marker for recent times, escape velocity all the more difficult once you get mired. The chart is beyond dreadful, a d charts can ve more predictive than fundamentals.

It would be very informative to know what the real issue price of shares in circulation was. They started with 300m in 2013 but nearly all the shares in issue are ones released on sub ipos ( probably in the range of 110 to 130) and accretive to the nav. So far from being just shy of issuance they must have actually fallen some 20% or so not allowing for dividends. If there was a way of ascertai ing an average issue price it would be another useful tool in determining value now.

Put my money where my mouth is and went for for a first tranche of 10k at 98.14 just now. Pound cost averaging in with the volatility. Btw, having studied the results I can see the fixed price element of energy is somewhat over 50% in the near term.

All the brokers are at hold or buy. But the Market ( at a 23% nav discount) has other thoughts. My concerns are the for the energy being sold on the open Market and not fixed . About 50%, I think? Nevertheless I'm looking to buy, and surely both interest rates are topped and energy prices closing in on a bottom. You'd think further nav downgrades were limited.

Results seems fairly transparent, 7p down on nav 7p paid out and hence a clear accounting balance of zero profit and no off balance sheet jiggery pokery( it's something like a p/e of 500 which makes sense)Disappointing that there was no surplus dividend cover ladt year. Haven't got any of these just down, but any opinions on whether we are at the bottom on nav downward adjustments, which could again give a shocking price to earnings ratio and is there likely to be better cover on dividends in 24.

I doubt anybody would a subscibe to a sub ipo at 20p, having to wait weeks before the shares become tradeable when you can get them at 20p and trade instantly.

Very surprised this has gone this low, no skin in the game; but heck if they can't liquidate a 75p nav for 20p ( however distressed the sakes are) then something is horribly wrong with UK accounting.

This really has become a fallen star, just wondering if anyone would proffer an opinion on why? I haven't followed it lately, but I presume the low p/e was due to lower capital values? Maybe, geographical diversity also doesn't help income, I note Greencoat hasn't had similar problems, wholly based in the UK. And maybe solar doesn't get the fizz for your bucks had they just stuck to wind. I really don't know.

Whether or not the Bond covenants have been breached at close you could only get 87p for RGL 4.5% 2024 maturing in August at 102.25 with coupon. Simple maths..that's a 17.5% risk reward in just 6 months or 38% annualised.

Now either that is the Mother of all Market mispricings or there is something cataclysmically wrong with RGL. And what price for rolling over that debt

40% annualised return I should have said. Just unbelievable risk premium bring demanded on RGL debt.

You'd think they could liquidate this one and at least have 20p a share left over. However, first call on assets would be bondholders and even there RGL 4.5% is trading at a 15p discount to the pound with only 6 months to run...that's a return of nearly 40% if the bonds get ŕedeemed at a pound in August ( I think it is). To price debt at that level means the Market ( it might be wrong) considers RGL a complete basket case.

I'm in agreement with you, I'm trying to think why the Market sees it differently. I suppose a third reason is trend, and a downward trend is hard to get out of . My opinion is that the fall to 60p is baffling.