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NVG

Nuveen AMT-Free Municipal Credit Income FundNYSE:NVG Stock Report

Last Price

US$16.66

Market Cap

US$3.6b

7D

-3.0%

1Y

-0.3%

Updated

16 Jan, 2022

Data

Company Financials
NVG fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance4/6
Financial Health1/6
Dividends3/6

NVG Stock Overview

Nuveen AMT-Free Municipal Credit Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc.

Price History & Performance

Summary of all time highs, changes and price drops for Nuveen AMT-Free Municipal Credit Income Fund
Historical stock prices
Current Share PriceUS$16.66
52 Week HighUS$18.27
52 Week LowUS$15.90
Beta0.26
1 Month Change-5.23%
3 Month Change-3.14%
1 Year Change-0.30%
3 Year Change16.50%
5 Year Change14.82%
Change since IPO10.33%

Recent News & Updates

Oct 29

Nuveen AMT-Free Municipal Credit Income Fund Is A Good Choice For That Strategy

For investors who need to control their taxable income and AMT exposure, NVG is worth checking out. Nuveen offers three CEFs that follow an AMT-free strategy. As their bond ratings strategy differs, this article will compare all three after reviewing NVG in depth. While Municipal bonds funds could be facing the headwinds of increasing interest rates, this sector has performed better than taxable bonds during such periods. For investors understanding the interest-rate risk and wanting an AMT-free CEF, I give the Nuveen AMT-Free Municipal Credit Income Fund a Bullish rating.

May 10

Nuveen AMT-Free Municipal Credit Income Fund declares $0.0675 dividend

Nuveen AMT-Free Municipal Credit Income Fund (NVG) declares $0.0675/share monthly dividend, in line with previous.Forward yield 4.65%Payable June 1; for shareholders of record May 14; ex-div May 13.See NVG Dividend Scorecard, Yield Chart, & Dividend Growth.

Jan 05

Nuveen AMT-Free Municipal Credit Income Fund declares $0.0675 dividend

Nuveen AMT-Free Municipal Credit Income Fund (NVG) declares $0.0675/share monthly dividend, in line with previous.Forward yield 4.86%Payable Feb. 1; for shareholders of record Jan. 15; ex-div Jan. 14.See NVG Dividend Scorecard, Yield Chart, & Dividend Growth.

Dec 14

NVG: Nuveen's Higher Yielding AMT-FREE Municipal Bond CEF

Introduction President-elect Biden promises higher tax rates, thus high income investors might want more tax-exempt income investments. Promising only the top 2% of returns will be affected, deficits have many questioning that statement. There are also concerns that lockdowns will have a large negative effect on state and local tax revenues resulting in municipal bond downgrades or higher than normal defaults in the next few years. Either event would damage the value of any bond

Dec 02

Nuveen AMT-Free Municipal Credit Income Fund declares $0.0675 dividend

Nuveen AMT-Free Municipal Credit Income Fund (NVG) declares $0.0675/share monthly dividend, in line with previous.Forward yield 4.92%Payable Dec. 31; for shareholders of record Dec. 15; ex-div Dec. 14.See NVG Dividend Scorecard, Yield Chart, & Dividend Growth.

Nov 03

Nuveen AMT-Free Municipal Credit Income Fund declares $0.0675 dividend

Nuveen AMT-Free Municipal Credit Income Fund (NVG) declares $0.0675/share monthly dividend, in line with previous.Forward yield 5.17%Payable Dec. 1; for shareholders of record Nov. 13; ex-div Nov. 12.See NVG Dividend Scorecard, Yield Chart, & Dividend Growth.

Shareholder Returns

NVGUS Capital MarketsUS Market
7D-3.0%-1.6%-0.5%
1Y-0.3%30.2%13.7%

Return vs Industry: NVG underperformed the US Capital Markets industry which returned 30.2% over the past year.

Return vs Market: NVG underperformed the US Market which returned 13.7% over the past year.

Price Volatility

Is NVG's price volatile compared to industry and market?
NVG volatility
NVG Average Weekly Movement1.6%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.4%

Stable Share Price: NVG is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: NVG's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1999n/an/ahttps://www.nuveen.com/CEF/Product/Overview.aspx?fundcode=NVG

Nuveen AMT-Free Municipal Credit Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund invests in undervalued municipal securities and other related investments exempt from regular federal income taxes that are rated Baa/BBB or better by S&P, Moody’s, or Fitch, and that have an average maturity of 17.02 years.

Nuveen AMT-Free Municipal Credit Income Fund Fundamentals Summary

How do Nuveen AMT-Free Municipal Credit Income Fund's earnings and revenue compare to its market cap?
NVG fundamental statistics
Market CapUS$3.56b
Earnings (TTM)US$301.50m
Revenue (TTM)US$231.68m

11.8x

P/E Ratio

15.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NVG income statement (TTM)
RevenueUS$231.68m
Cost of RevenueUS$0
Gross ProfitUS$231.68m
Expenses-US$69.83m
EarningsUS$301.50m

Last Reported Earnings

Oct 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.41
Gross Margin100.00%
Net Profit Margin130.14%
Debt/Equity Ratio57.5%

How did NVG perform over the long term?

See historical performance and comparison

Dividends

5.0%

Current Dividend Yield

64%

Payout Ratio

Valuation

Is Nuveen AMT-Free Municipal Credit Income Fund undervalued compared to its fair value and its price relative to the market?

8.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NVG ($16.66) is trading below our estimate of fair value ($18.23)

Significantly Below Fair Value: NVG is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: NVG is good value based on its PE Ratio (11.8x) compared to the US Capital Markets industry average (15.9x).

PE vs Market: NVG is good value based on its PE Ratio (11.8x) compared to the US market (17.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate NVG's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: NVG is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (42.4x).

Future Growth

How is Nuveen AMT-Free Municipal Credit Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

3.7%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Nuveen AMT-Free Municipal Credit Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Nuveen AMT-Free Municipal Credit Income Fund performed over the past 5 years?

32.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NVG has a large one-off gain of $126.4M impacting its October 31 2021 financial results.

Growing Profit Margin: NVG's current net profit margins are higher than last year (36.9%).


Past Earnings Growth Analysis

Earnings Trend: NVG's earnings have grown significantly by 32.6% per year over the past 5 years.

Accelerating Growth: NVG's earnings growth over the past year (233.5%) exceeds its 5-year average (32.6% per year).

Earnings vs Industry: NVG earnings growth over the past year (233.5%) exceeded the Capital Markets industry 86.4%.


Return on Equity

High ROE: NVG's Return on Equity (8.2%) is considered low.

Financial Health

How is Nuveen AMT-Free Municipal Credit Income Fund's financial position?


Financial Position Analysis

Short Term Liabilities: NVG's short term assets ($102.8M) do not cover its short term liabilities ($1.6B).

Long Term Liabilities: NVG's short term assets ($102.8M) do not cover its long term liabilities ($516.0M).


Debt to Equity History and Analysis

Debt Level: NVG's net debt to equity ratio (57.5%) is considered high.

Reducing Debt: NVG's debt to equity ratio has increased from 55.8% to 57.5% over the past 5 years.

Debt Coverage: NVG's debt is not well covered by operating cash flow (8.7%).

Interest Coverage: NVG's interest payments on its debt are well covered by EBIT (27.1x coverage).


Balance Sheet

Dividend

What is Nuveen AMT-Free Municipal Credit Income Fund current dividend yield, its reliability and sustainability?

5.05%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NVG's dividend (5.05%) is higher than the bottom 25% of dividend payers in the US market (1.32%).

High Dividend: NVG's dividend (5.05%) is in the top 25% of dividend payers in the US market (3.44%)


Stability and Growth of Payments

Stable Dividend: NVG's dividend payments have been volatile in the past 10 years.

Growing Dividend: NVG's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (63.5%), NVG's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?


CEO

Nuveen AMT-Free Municipal Credit Income Fund has no CEO, or we have no data on them.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Nuveen AMT-Free Municipal Credit Income Fund's employee growth, exchange listings and data sources


Key Information


Location

  • Nuveen AMT-Free Municipal Credit Income Fund
  • 333 West Wacker Drive
  • Chicago
  • Illinois
  • 60606
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/16 23:19
End of Day Share Price2022/01/14 00:00
Earnings2021/10/31
Annual Earnings2021/10/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.