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13 Oct 2023 07:15
Edison Investment Research Limited Edison issues update on: Premier Miton Global Renewables Trust (PMGR) - Potential for real return 13-Oct-2023 / 07:15 GMT/BST The issuer is solely responsible for the content of this announcement.
London, UK, 13 October 2023
Edison issues update on Premier Miton Global Renewables Trust (PMGR) - Potential for real return Renewable energy investment trusts are out of fashion at present and, in our view, this represents an opportunity for investors. Premier Miton Global Renewables Trusts (PMGR), like all its peers, is now trading at a discount to NAV (14.3%) as its performance has been affected by the underperformance of many of its key public holdings. In our view, short-term energy price weakness and questions over the policy environment are missing the longer-term shift in competitiveness and energy security that consumers are seeking from renewables. We believe the current state of the market presents an attractive entry point for investors. PMGR reported good results on the back of high power prices in the six months to June 2023 and this, coupled with the continued growth of its assets, resulted in earnings per ordinary share increasing by 12.3% to 4.43p. The first two quarterly dividends (1.85p each) of FY23 were 5.7% higher than H122. Investor sentiment surrounding the renewable energy sector has weighed on valuations and widened discounts to NAV, negatively affecting PMGR’s holdings. We argue that the monetary flow towards fixed income will not be permanent and the combination of positive real yields and growth in underlying end-use in the renewables sector could present an attractive buying opportunity. Click here to view the full report.
All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Andrew Keen +44 (0)20 3077 5700 investmenttrusts@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement. |
1747849 13-Oct-2023
corporate announcement transmitted by EQS Group AG. The issuer is solely responsible for the content of this announcement.
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