Post by
Obscure1 on Oct 02, 2023 11:23am
End of quarter NAV adjustment
My ENS NAV calculator has be bang on since I created it a couple of weeks ago. Middlefield posted the NAV for Friday this morning $0.13 lower than my spread sheet expected which reflects the dividend payable to the Pref shares.
ENB is getting hammered again today (trading at $44.05 as I write this) down $1.00 per share. Based upon the ENB share price, my spreadsheet would predict that ENS should be down $0.44 but it is only down $0.15 for a difference of $0.29.
What do I make of that???????? My guess is that $0.13 of the difference is due to the timing of the Middlefield NAV adjustment. But that still leaves another $0.13. The difference is likely due to:
a) ENS investors are digging in and are buying the dip
b) ENS typically lags moves in the ENB and will see the correction before the end of the day