I did buy some more at 56c. Now when to get some more.... The panic in the market is palpable. The blanket sell-off shows how little people are thinking about what they are doing with regard to specific companies. That is why I have held off another purchase at the moment. Assuming IFN continues to pay a 1c div then it is running at 4.4% return on SP for a year without adjustments plus implicit growth from recent acquisitions and PPA agreements.
The main potential downside is if C&I customers reduce their contracts for the next cycle due to general impacts. That may be material but I don't think enough to affect the div. It may delay some capex plans however this would be a mild pain. Today's falls were sparked by intervention from central banks! That would usually calm markets but that is how anxiety works. Even if we have a recession for the next 12 months, IFN will still keep chugging out power. The interest rates going low will help with capital management which is their biggest risk. Can't see how this drop is remotely justified for IFN. I am only trying to work out how long the insane selling will last. Shorters aren't doing it as far as I can tell. I must be the energy correlation to oil so as soon as we see a stabilization of that I will be looking for the turn.
IFN Price at posting:
45.5¢ Sentiment: Buy Disclosure: Held
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