Ecofin Global Utilities and Infrastructure Trust - Update from QuotedData
12th June 2024
Momentum building
After a challenging 18-month period, things are beginning to look a lot brighter for the Ecofin Global Utilities and Infrastructure Trust (EGL). Since the middle of February, strong earnings, artificial intelligence (AI) related momentum behind growing electricity demand, and a shifting macroeconomic outlook have contributed to a 23% bounce in the company's shares.
The recent rally reflects the company's NAV performance and the considerable opportunity which exists across the utilities and infrastructure sectors as the energy transition gathers steam. In our view, the structural upside of the EGL portfolio remains dramatically underappreciated by the market, and with shares still trading at a double-digit discount, investors have an opportunity to invest in a long-term market leader at a very attractive price.
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