Investment Firms
By Iain Gilbert
Date: Thursday 27 Jan 2022
LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg initiated coverage on renewable energy business Harmony Energy, stating the firm was its 'preferred pick' in the sector as its longer-duration batteries would likely drive higher returns.
Berenberg said Harmony Energy, which listed on the London Stock Exchange in November 2021 with a market cap of £210.0m, intends to invest primarily in battery energy storage systems in Great Britain using two-hour lithiumion battery technology.
The German bank noted this represents "a unique opportunity" for investors as the majority of battery energy storage systems in the UK were 0.75-1.25 hours in duration.
Berenberg highlighted that battery energy storage remains "an underdeveloped asset class", with roughly 1.2 gigawatts built and operating today, versus a potential energy storage requirement of up to 43.0GW by 2050.
"HEIT targets an attractive dividend yield of 8% pa from 2023 and an unlevered NAV total return of 10% pa. It trades at NAV, an attractive valuation compared to its closest peers who trade at an average premium of 14%. HEIT is our preferred pick in the sector," said the analysts.
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Currency | UK Pounds |
Share Price | 44.70p |
Change Today | 3.50p |
% Change | 8.50 % |
52 Week High | 117.50 |
52 Week Low | 33.00 |
Volume | 2,114,951 |
Shares Issued | 227.13m |
Market Cap | £101.53m |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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4th Interim | 3rd Interim | |
Ex-Div | 07-Dec-23 | 14-Sep-23 |
Paid | 22-Dec-23 | 29-Sep-23 |
Amount | 2.00p | 2.00p |
Time | Volume / Share Price |
11:50 | 400,000 @ 45.75p |
08:56 | 250,000 @ 46.00p |
13:03 | 262,904 @ 45.00p |
09:54 | 250,000 @ 45.00p |
16:35 | 182 @ 44.70p |
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