Looking at the market recovery right now, I see a lot of opportunities to buy cheap UK shares that were too expensive just a few months ago. I love studying market corrections and analysing sectors that show high activity even during bear runs. And right now, the energy sector, mining stocks and anything electric vehicle (EV)-related looks very popular.

Although I refrain from investing based on fads, current market trends seem to be rooted in important recent developments. Renewable energy has become supremely important after Europe’s latest power crisis. 

I’ve identified three shares that could supplement the growth of this booming industry right now. These UK shares look primed for growth and could boost my portfolio over the coming years.

All charged up

Greencoat UK Wind (LSE:UKW) and Volex (LSE:VLX) are two shares I’m watching closely right now.

Electricity bills across the country are surging. Just yesterday, the Confederation of British Industry warned policymakers about the impact of this on local businesses. And I think this points to the larger crisis as we’re caught between an expensive transition to green energy while fending off sky-high crude oil prices. 

Greencoat UK Wind’s business model involves investing in wind farms and then selling the generated power back to the grid. This relatively low-risk strategy with 90%+ margins means the company is largely cash positive. In the first half of 2022, it has already generated 2,175GWh of energy with a net cash generation of £328.8m.

This share has risen 22% in the last 12 months. And despite this jump, it’s trading at a price-to-earnings ratio of just 4.6 times. I think this is a very attractive valuation for a firm with strong financials and excellent future prospects. 

The next company on my list is Volex, a manufacturer of fibre-optic, copper and battery wires. The company also operates a range of brands in the electronics space that collectively have a global presence. Its main markets are North America (44% of revenue), Asia (23%) and Europe (33%). 

Volex recently developed an EV division that manufactures components for the booming industry. These include charging cables, charging stations and storage systems. 

In FY22, the company saw revenue growth of 38.6% to US$614.6m. The company expects to generate revenue of $1.2bn by the end of FY27. Thanks to strong recent reports, this share has risen 12.8% in the last six months and is finally showing signs of a bounce-back after falling steadily for months.

Concerns and verdict

While both companies look in relatively strong financial positions, they also come with considerable debt. Given the nature of both businesses, a high percentage of profits are invested back into acquiring assets.

Slowing economies remain a concern for Volex, given its international presence. Its buying power could fall if a recession happens, affecting sales and currency values. Greencoat is currently seeing a premium paid for the energy it sends to the grid. If this stabilises, year-on-year profits could fall, spooking investors.

However, I’m bullish on the European energy sector. I think current changes will prove fruitful in years to come. While traditional oil shares have dominated the energy market, I think a shake-up is under way, which is why I’m considering an investment in these two stocks right now. 

The post 2 UK shares from booming industries I’d buy now appeared first on The Motley Fool UK.

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Suraj Radhakrishnan has no position in any of the shares mentioned. The Motley Fool UK has recommended Greencoat UK Wind. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Chunky dividend 

First up is Renewables Infrastructure Group (LSE: TRIG). This fund has exposure to a portfolio of 79 projects with a net capacity of over 1900 megawatts. Over half of these are based in England, Wales, and Scotland. The remainder, for the most part, are in Sweden, France, and Germany.

In terms of actual assets, there’s a clear focus on wind farms here. No less than 58% comes from onshore sources, with 32% obtained from offshore projects.

In contrast, solar energy projects account for just 9%. However, it’s clear that the company is looking to increase this part of its portfolio. Last month, TRIG announced that it had acquired four such sites in Spain. This should help boost earnings spread which, in turn, should be good news for dividend hunters.

As mentioned earlier, one of the main draws from holding TRIG is that income stream. The consensus from analysts is that the near £3bn-cap fund will return 6.76p per share in FY21. Using the current share price, that becomes a yield of 5.2% — one of the highest available in the FTSE 250. As a comparison, the index itself yields just 1.9%.

Also available…

As previously mentioned, TRIG certainly isn’t the only option for investors. Indeed, another UK-listed fund — Greencoat UK Wind (LSE: UKW) — offers an identical 5.2% dividend yield.

Greencoat has also been snapping up assets lately. In September, it announced the acquisition of Andershaw Wind Farm for £121m. Another one of the things I particularly like about this space is that demand tends to be fairly consistent due to utility firms being legally obliged to get a certain amount of power from green sources. 

This is not to say there aren’t potential drawbacks to both funds. Being dependent on natural resources (ie, things we can’t control), there’s a possibility that sources won’t produce as much electricity as desired. One also shouldn’t discount the high costs involved in installing and maintaining wind and solar farms.

Seen purely from an investment perspective, the huge interest in this space theoretically increases the odds of paying too much for a slice of the renewable pie. It’s worth pointing out that dividend hikes, while very consistent so far, aren’t exactly massive either (1%-2% per year). 

Stay diversified

Despite these potential headwinds, TRIG and UKW are just the sort of stocks I like for generating passive income. Bar the odd mood swing from Mr Market (each fell roughly 30% in March 2020), I suspect one or both could be held without issue ‘forever’. And if those dividends were reinvested, the eventual returns could be very decent.

Having said this, the need to stay appropriately diversified is as important here as it always has been. In practice, that would mean me picking up a few funds or stocks that have very little relevance to renewable energy. There’s no shortage of options out there when I last checked.

The post 2 FTSE 250 renewable energy funds offering BIG dividends appeared first on The Motley Fool UK.

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Paul Summers has no position in any of the shares mentioned. The Motley Fool UK has recommended Greencoat UK Wind. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

In this piece I want to explain what’s changed and why I think the shares might be worth buying. I’ll also take a look at an alternative income stock that’s focused 100% on wind power.

Renewable focus

This week’s half-year results brought news that SSE plans to create a new business, SSE Renewables. This company will be responsible for all of the group’s renewable energy activities, which include 4GW of wind, hydroelectricity and pumped storage assets.

This new business plans to expand outside the UK and become a leading player in the financing and development of new renewable projects. I suspect this could be the start of a plan to reduce the company’s dependence on the regulated UK utility market.

Putting up a hedge

SSE’s coal, oil and gas-fired power stations account for a further roughly 4GW of generating capacity. Profits from these fossil fuel burners are heavily dependent on commodity prices.

Price movements have caused problems for the firm this year. Wholesale profits fell by 98% to just £2.3m during the six months to 30 September. A repeat of these events could put the dividend at risk.

To prevent this, the group is planning a new approach to commodity trading that will use derivative contracts to lock in power prices for the 12 months ahead.

What could go wrong?

SSE’s plans to merge its retail business with that of npower to form a new company have run into problems. The government’s planned energy price cap has hit profit forecasts. In turn, this is affecting the new company’s ability to borrow money.

I suspect a solution will be found, but this could come at a cost to SSE. The other changes I’ve explained above will also take some time to deliver results.

My view is that the next year could be a bit messy for SSE. But beyond that, I think the outlook is much improved, with a clear strategy and a more affordable dividend.

City analysts appear to agree. They expect adjusted earnings to rise by 23% in 2019/20. This puts the stock on a forecast P/E of 10.5 with a dividend yield of 7.2%. In my view, today’s share price could be a good entry point for a long-term income buy.

Wind-powered dividends

If you like the idea of investing in renewable energy but don’t want to invest in a utility stock, one company I’d consider is FTSE 250 firm Greencoat UK Wind (LSE: UKW).

This infrastructure fund invests in a mix of onshore and offshore wind projects. Since its flotation in 2013, it’s provided a dividend that’s kept pace with inflation. The shares currently offer a forecast yield of 5.4% for 2018.

My impression is that the group is well run and offers a sustainable dividend. I only have two real concerns. The first is that future governments could unexpectedly alter the subsidies available to wind power generators, affecting profits.

The second risk is that investor demand for reliable income investments has pushed the share price up to 127p, 11% above the fund’s net asset value of 114p per share. If interest rates rise significantly, I could see the stock falling by 10% or more.

Despite these concerns, this is a stock I’d be happy to pick for a buy-and-forget dividend portfolio.

The post The SSE share price now yields 7%. Here’s why I’d buy appeared first on The Motley Fool UK.

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Roland Head has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Wind in spades 

Greencoat owns a portfolio of domestic wind farms that stretch from Caithness in the north to Kent all the way down south. As of this morning’s full-year results announcement, the group has been public and operating for five years, delivering a total shareholder return of 58.3% in that timescale. While this return is less than that of the FTSE 250 index its a member of, conservative shareholders after a hearty dividend and less volatility are unlikely to be complaining. 

Looking forward, the trust does trade at a 10% premium to its net asset value (NAV), which is already falling and may shrink further in the short term as bond yields rise and income investors flock to these safer assets. However, it’s likely that the group will continue to trade at some sort of premium as the fund’s manager has proven very willing to not only deliver hefty dividends but also grow the portfolio through acquisitions. 

Last year, the group raised £340m in a right issue and used this cash, plus £165m drawn down on its debt facilities, to buy £507m worth of wind farms. That added 273.3 net megawatts (MW) of energy generation, bringing the group’s year-end total to 694MW. During the year these assets generated net cash of £80m that more than covered £52.3m paid out in dividends. And as the costs of wind power continue to fall while nearing a time when they no longer require government subsidies, the outlook for Greencoat UK Wind looks quite bright to me. 

Basking shareholders

Although the idea of solar power in the UK is an easy target for cheap jokes, NextEnergy Solar Fund is showing that it’s farms receive more than enough sun to power big dividends for shareholders. At the end of December the group had 63 plants with an installed capacity of 569MW, including eight recently-purchased farms in Italy. 

And just as is happening with UK wind power prices, solar farms are becoming cheaper and cheaper over time, bringing down the acquisition costs for NESF, which only purchases operational farms. And the group’s manager is proving adept at wringing efficiencies out of its plants as they produced 2% more energy than budgeted in the half-year to September. 

This helped generate enough cash to cover the company’s generous dividend 1.14 times over. The fund continues to grow through acquisition, so with cash flow rising over time dividend payouts should quite safely continue to grow in line with inflation. Furthermore, with its shares trading at only a 6.5% premium to their NAV, NESF isn’t ridiculously overpriced for a high-income option in a low-income world. 

The post 2 top UK green energy investment trusts yielding over 5% appeared first on The Motley Fool UK.

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Today I’m going to look at two very different companies which I believe are capable of producing a reliable 5% yield.

A contrarian buy?

High street retailers are out of favour with the market. But this widespread sell off has left some stocks looking cheap, in my view. Cycle and car parts retailer Halfords Group (LSE: HFD) is one example.

The group’s shares now trade on a forecast P/E of 12.3 with a prospective yield of 5.4%. This dividend looks reasonably well supported to me. Having been covered by free cash flow in recent years, I expect this to be the case again for the year which ended on 1 April.

The other factor supporting Halfords dividend is its low level of debt. Management expects to end the year with net debt of just 0.8 times earnings before interest, tax, depreciation and amortisation (EBITDA).

Although debt and cash flow problems are two of the most common reasons for dividend cuts, I don’t see any serious concerns here for Halford. My only concern is whether the group can deliver reliable profit growth.

Although sales rose by 2.2% on a like-for-like basis during the first half of the current year, Halfords’ underlying pre-tax profit fell by 12.1% to £40.8m, due to lower profit margins. The firm says this was largely the result of changing exchange rates and deeper discounting on cycling products.

Consensus forecasts suggest Halfords’ underlying earnings will have fall by 9% to 30.2p per share during 2016/17. A further decline of 2% is expected in 2017/18. For the group’s dividend to be truly safe, this trend needs to be reversed in the next couple of years.

A pure dividend play

Strictly speaking, FTSE 250 wind farm investment group Greencoat UK Wind (LSE: UKW) is a financial investment. The firm doesn’t build and operate wind farms, it simply buys into existing farms.

However, for dividend investors, I think it’s fair to consider Greencoat UK Wind as an alternative to traditional utility stocks. Indeed, this company has some potential advantages, in my view.

It’s hard to imagine renewables falling out of the energy mix in the future and Greencoat doesn’t have retail customers either, removing a possible source of political pressure.

The main downside is the firm’s focus purely on wind power. Although pricing and financial benefits for green energy production are subject to regulation, this could change, impacting the group’s ability to pay a dividend. Lower gas prices could also harm profits, as these could also drive down the market price for electricity.

However, the financial picture seems attractive at present. The stock currently trades on about 11 times forecast earnings, with a prospective yield of 5.2%. Dividends since the group’s flotation in 2013 have been covered by free cash flow, and I’d expect this to continue due to the predictable nature of the group’s cash flows.

The only risk is that the shares currently trade at a 14% premium to their net asset value of 108.6p per share. I’d rather pay less of a premium, but given the yield on offer I think the overall picture rates as a buy.

The post Two 5% dividend stocks I’d buy today appeared first on The Motley Fool UK.

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Roland Head has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

If any domestic firm is to become a global player in clean energy the smart money would be on industrial giant Johnson Matthey (LSE: JMAT). The company may not be a household name but with over £3bn in annual sales and a market-leading position in emissions control devices for diesel engines it has the know-how and balance sheet to profit from our changing energy needs.

The company’s most intriguing bet is on the future dominance of high capacity batteries made to power electric vehicles or efficiently store solar energy for households. To see the potential importance of batteries for renewable energy you need look no further than Tesla’s $5bn investment in its own battery production facility in the US.

Johnson Matthey won’t be dominating the market any time soon as its new business division, which includes batteries, only brought in £157m in sales last year. However, this was a 73% increase on the previous year and with substantial investments being made in this high opportunity venture alongside traditional emissions control, the company is one to watch in the coming years.

Wind power

Greencoat UK Wind (LSE: UKW) is the more classic example of a renewable energy company through its ownership of 19 wind farms across the UK. Thanks to government regulations that stipulate utilities must source a certain amount of their energy from renewable sources, Greencoat has a relatively reliable source of income, which allows it to return a hefty chunk of its earnings to shareholders.

These dividend payouts currently yield a whopping 5.5% and with relatively low debt and a growing portfolio of farms under ownership look quite safe. That said, the company isn’t aiming for global dominance and is focused solely on the UK, which naturally constrains its growth prospects. However, for more risk-averse investors who want more direct ownership of tangible assets and steady income potential, there are worse options than Greencoat.

Utility Good Energy (LSE: GOOD) is trying to profit from consumers’ increasing awareness of climate change by sourcing its energy from renewable sources and then feeding it back into the national grid. So far the plan is working well and customer numbers bumped up 36% year-on-year over the past six months.

More meters led to a 40% rise in revenue and full 72% jump in EBITDA over the same period. Unlike more staid traditional utilities, those increased earnings aren’t being passed on to shareholders just yet. Interim dividends stayed level and are expected to yield a miserly 1.5% this year.

Rather, Good Energy is investing large sums in expanding its own power generation capabilities. Power generated from the company’s assets increased 19% year-on-year through June and numerous large solar and wind projects are currently in development. Good Energy is by no means an ordinary utility with higher debt and growth prospects than larger rivals, but for socially conscious investors the company’s business plan may prove an interesting one.

The post Will these clean energy companies become the oil majors of the 21st century? appeared first on The Motley Fool UK.

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Ian Pierce has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

The volatility of commodity prices makes mining companies less attractive income plays. But BHP’s size and financial strength means that its dividend is safe for at least another two or three years. And as the company is increasingly judged by its yield, which stands at 6.5%, shares in BHP Billiton are unlikely to fall much further in the short to medium term.

Amlin

Business-focused insurer Amlin (LSE: AML) has recently seen a benign level of claims. In 2014, it achieved a combined ratio of 89%. A combined ratio of below 100% represents underwriting profits.

But with the market softening; underwriting profitability going forward is likely to be significantly lower. Nevertheless, the insurer’s lean operating cost base and its stable combined ratios show it is competitively placed in the market.

Analysts expect its earnings will fall by 14% this year, which implies a forward P/E of 11.9. Its prospective dividend yield of 6.0% is particularly attractive, and it is covered by 1.4x earnings.

Lancashire Holdings

Diversified insurer Lancashire Holdings (LSE: LRE) had a combined ratio of 68.7% in 2014, which reflects an even higher level of underwriting profitability per dollar of premiums earned.

Including the value of special dividends, analysts expect Lancashire is set to yield 9.9% this year, and 9.1% for 2016. Lancashire is able to pay substantially all of its earning over the next few years; because it is in a strong capital position, and underwriting profitability had been particularly robust.

According to current analysts’ forecasts, Lancashire is currently trading at a forward P/E of 10.3, despite estimates of a 28% decline in underlying earnings as the market softens.

SSE

SSE (LSE: SSE) is widely considered as a dividend stalwart, as the electric utility company almost invariably pays a dividend yield in excess of 5% every year. Because of lower wholesale electricity prices, electricity generation margins are likely to continue to worsen. Analysts expect adjusted EPS will fall by 11% to 110.1 pence for 2015/6. This will give SSE a modest P/E of 13.6 and its expected dividend yield will be 5.8%.

The main attraction of SSE is that half its underlying earnings comes from its regulated assets, which generate stable cash flows, even when wholesale electricity prices fall or when electricity demand slumps. This helps to ensure that its dividend is fully funded, even though its dividend cover on earnings is relatively low, estimated at 1.2x on 2015/6 forecasts.

Greencoat UK Wind

Greencoat UK Wind (LSE: UKW) is an investment company focused on onshore wind farms. The end of the Renewable Obligation Certificate (ROC) subsidy scheme will no doubt hurt the expected returns of new onshore wind projects in the longer term, but this should also increase the value of its existing portfolio of wind assets. In addition, the newer contract-for-difference (CFD) scheme are not as bad as they initially seem, and investment returns should continue to be relatively attractive.

Because wind farms receive a significant proportion of their revenues through subsidies, their cash flow is typically more stable than fossil fuel electricity producers. This also allows Greencoat to pay out almost all of its earnings to its shareholders through dividends.

Greencoat currently supports a dividend yield of 5.4%.

The post 5 Shares Yielding 5% Or More: BHP Billiton plc, Amlin plc, Lancashire Holdings Limited, SSE PLC & Greencoat UK Wind plc appeared first on The Motley Fool UK.

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So, it’s a good job that the company is committed to a renewable future. National Grid was recently awarded a top spot on Newsweek’s Top Green Companies in the World 2015 list. National Grid ranked 29th overall but was the highest scoring utility. 

The Newsweek Green Rankings rank the 500 largest publically traded companies globally on their overall environmental performance using eight specific indicators. Based on these indicators, National Grid scored an impressive 71.4%.

If you’re looking for a large-cap green investment, National Grid is one of the best picks around. The company currently trade at a forward P/E of 14.7 and supports a dividend yield of 5.2%. 

Wind power

Greencoat UK Wind (LSE: UKW) owns a portfolio of interests in 16 windfarms around the UK. The company’s principal goal is to provide investors with a steady, predictable income. 

The revenue that operating wind farms receive in the UK is made up of two key components: the sale of power produced, and green benefits accredited. All are sold under long-term agreements to utilities who are obliged by law to procure a certain percentage of power from green sources. This gives Greencoat a stable, predictable income and cash flow stream. 

When Greencoat came to market during 2013, management announced that the group would be paying an annual dividend yield in the region of 6%. The payout will increase in line with inflation for the foreseeable future. At present, Greencoat supports a dividend yield of 5.3%, and analysts have pencilled in a yield of 5.5% for 2016. 

Biggest supplier 

SSE (LSE: SSE) is the leading generator of electricity from renewable sources in the UK. The company had 3,326MW of renewable capacity by the end of March 2015 — to put that into perspective, Greencoat’s net capacity is a lowly 271.5MW. 

SSE’s green drive and contribution to renewable energy generation in the UK has not gone unnoticed. The company has made it into the top 10% of the Climate Performance Leadership Index; one of the most important annual assessments of how large global operations impact on the environment.

SSE’s growth and output of renewable electricity contributed to a 15% fall in the group’s carbon emissions during 2014.

SSE currently trades at a forward P/E of 13.9 and the company supports a dividend yield of 5.7%.

Customers come first 

Small-cap utility Good Energy (LSE: GOOD) generates all of its electricity from renewable sources. What’s more, the company is also loved by its customers and has one of the highest customer satisfaction rates around. 

Still, with only 51,500 electricity customers at the end of 2014, Good is an energy minnow. Revenue jumped by 43% during 2014, and gross profit rose by 38%. However, due to a fall in demand for energy over warmer periods, Good’s profit before tax slumped by a third.

Unfortunately, erratic earnings growth is set to continue for the next two years. The City believes that Good’s earnings per share will fall 15% this year, before rebounding by 53% during 2016. Over the same period, revenue is set to grow by a quarter. 

Good currently trades at a forward P/E of 14.7 and supports a dividend yield of 1.5%. 

The post Build A Green Portfolio With These 4 Renewable Energy Plays: Greencoat UK Wind PLC, SSE PLC, Good Energy Group Plc & National Grid plc appeared first on The Motley Fool UK.

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Rupert Hargreaves has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.