|Bid||73.06 x 0|
|Ask||73.10 x 0|
|Day's range||71.03 - 73.20|
|52-week range||63.99 - 140.70|
|Beta (5Y monthly)||0.47|
|PE ratio (TTM)||N/A|
|Earnings date||13 Feb 2020|
|Forward dividend & yield||0.05 (11.68%)|
|Ex-dividend date||07 May 2020|
|1y target est||153.87|
Lower commodity prices may be hitting the owner of British Gas, but could this be an opportunity to buy Centrica shares cheaply?The post Is the Centrica share price now a bargain? appeared first on The Motley Fool UK.
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NEW YORK/LONDON, Feb 13 (Reuters) - The dollar rose and global equity markets slumped on Thursday after a new methodology that boosted the coronavirus death toll in China unnerved investors, curbing a rally that had lifted U.S. and European stocks to a series of record peaks. Chinese officials said 242 people died in Hubei province on Wednesday, the biggest daily rise since the virus emerged in the provincial capital of Wuhan in December. The jump in reported cases halted a rally that lifted Wall Street's three main gauges, indexes for pan-regional European shares, Germany's DAX and Canada's S&P/TSX index.
British Gas owner Centrica plc (LON:CNA) tanks yet again and there could be worse to come.The post Here's why the Centrica share price plunged another 17% today appeared first on The Motley Fool UK.
* FTSE 100 down 1.4% dragged down by oil stocks, Centrica Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (firstname.lastname@example.org), Joice Alves (email@example.com), Julien Ponthus (firstname.lastname@example.org) in London and Danilo Masoni (email@example.com) in Milan. The euro has hit a significant milestone this week falling against the dollar to a May 2017 low, with the move inevitably raising the question of what could this mean for European companies' earnings outlook.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Centrica Plc became the first energy company to book a major writedown on production assets in Europe as the global natural gas glut slashed valuations on both sides of the Atlantic.The U.K.’s biggest energy supplier to homes followed oil majors from Royal Dutch Shell Plc to Chevron Corp. in feeling the pain from a worldwide slump in the heating and power-plant fuel that’s sent prices to their lowest level in a decade in Europe.Centrica booked a net exceptional charge before tax of 1.1 billion pounds ($1.4 billion) for a lower value of its exploration and production arm, as well as a stake in U.K. nuclear plants. The writedown also includes restructuring costs of 356 million pounds.While gas is preferred to coal as a power generation fuel because it is much cleaner to burn, there are no signs of the glut coming to an end anytime soon. Nations from the U.S. to Australia are exporting record amounts of the commodity at the same time as the coronavirus is curbing demand in China, sending prices down further.“The gas market is very oversupplied right now because of associated gas from shale oil in the U.S. and lower levels of demand in Asia and to trump it all the coronavirus,” Centrica Chief Executive Officer Iain Conn said on a call with reporters on Thursday.The gas slump adds to the company’s woes after millions of customers have left in the past few years and lawmakers clamped down on prices utilities can charge their customers.As Conn, a veteran oil man, is leaving his role as CEO later this year, Centrica is selling its North Sea oil and gas company Spirit Energy Ltd. It has also put up for sale its 20% stake in Electricite de France SA’s U.K. nuclear plants. Both disposals “face headwinds and uncertainty,” according to Berenberg Bank.While the company plans to sell Spirit by the end of this year and is expecting offers by the end of March, it probably won’t be able to dispose of the nuclear stake by then, Conn said on the call.Conn added he was expecting the market to be surprised by the “blunt view” of gas prices the company was presenting and highlighted the irony that Centrica is attempting to sell these businesses now. He said he expected analyst to revise down their own commodity price curves too.Centrica is expecting gas prices to stay “weak” for the rest of this year, Conn said, which will lead to flat earnings at best. While the slump has clearly hit the value of its upstream assets, lower gas prices are positive for the energy supply business because it can buy fuel in the wholesale market at a cheaper rate. After the planned asset sales, the company will be more predictable, Conn said.Shares plunged as much as 18%, the most since July, after full-year earnings missed estimates. The company also cited the negative impact of the U.K. energy retail price cap at the same time as the departure of homes continued, although at a slowing rate.Read more here on what the analysts are saying about CentricaAcross the Atlantic, Chevron posted its steepest loss in a decade on Jan. 31 after billions of dollars in writedowns on the value of its North American gas fields. On Wednesday, Antero Resources Corp. wrote off more than half a billion dollars from its balance sheet as plunging prices for natural gas erode the value of its assets and investments.While Shell in 2019 enjoyed one of its strongest years trading gas ever, its fourth-quarter results included a charge of $1.9 billion, primarily on the lower value of its U.S. unconventional gas assets and a drilling rig joint venture.(Updates with chart on customer losses after 10th paragraph.)To contact the reporters on this story: Lars Paulsson in London at firstname.lastname@example.org;Rachel Morison in London at email@example.comTo contact the editors responsible for this story: Reed Landberg at firstname.lastname@example.org, Lars PaulssonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
* FTSE 100 down 1.5% dragged down by oil stocks, Centrica Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (email@example.com), Joice Alves (firstname.lastname@example.org), Julien Ponthus (email@example.com) in London and Danilo Masoni (firstname.lastname@example.org) in Milan.
A daily overview of the top business, market and economic stories you should be watching today in the UK and abroad.
You can share your thoughts with Thyagaraju Adinarayan (email@example.com), Joice Alves (firstname.lastname@example.org), Julien Ponthus (email@example.com) in London and Danilo Masoni (firstname.lastname@example.org) in Milan. European shares are down about 0.4%, so just off yesterday's record highs as an earnings galore triggered lot of action at the open.
Profits at British utility Centrica slumped 35% last year, hit by a government price cap on some energy bills and the impact of lower natural gas prices on its production business, sending its shares down as much as 17% on Thursday. The company, whose British Gas unit is Britain’s largest energy supplier, said adjusted operating profit fell to 901 million pounds from 1.39 billion pounds in 2018. "2019 operating profit and earnings were materially impacted by a challenging environment, most significantly the implementation of the UK default tariff cap and falling natural gas prices," said chief executive Iain Conn in a statement.
Centrica said it expects Berry to return to his duties shortly, leaving Scott Wheway in the position on an interim basis. Weir, in a separate statement, said director Barbara Jeremiah would take on the responsibilities during Berry's absence.
British energy companies will from May 1 be forced to pay automatic compensation to customers facing problems when switching supplier, regulator Ofgem said on Wednesday. Britain has a cap on the most widely used energy bills but Ofgem wants to encourage people to look at switching supplier to see if even more money can be saved. "We are introducing these new standards to give customers further peace of mind, and to challenge suppliers to get it right first time," said Mary Starks, executive director for Consumers and Markets at Ofgem.
These two shares are expected to report electric earnings growth before long. Are they now too cheap to miss? Royston Wild doesn't think so.The post I don’t care about these sub-10 P/E ratios! I’d avoid these turnaround stocks at all costs appeared first on The Motley Fool UK.
UK's energy regulator said on Friday the price cap for bills will fall by 17 pounds to 1,162 pounds during the summer, as wholesale energy prices have declined in the last few months. "A strong supply of gas, such as record amounts of liquefied natural gas and healthy gas stock inventories, has been the main factor pushing down wholesale prices," Ofgem said. Ofgem, citing a drop in wholesale prices, lowered the cap last August as well by 75 pounds.
Norway may restrict oil firms' access to offshore resources in the Arctic by moving the so-called ice edge, a line that sets a legal limit on the extent to which companies can go north in search of oil. The ice edge is a legally drawn boundary that is meant to approximate the constantly changing southern fringe of the permanent ice sheet.
Incredibly, you can get income of up to 13.7% on the FTSE 100 (INDEXFTSE:UKX), just beware the risks.The post I'm sorely tempted by these 2 ultra-high-yield FTSE 100 dividend stocks appeared first on The Motley Fool UK.
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On...
Royston Wild looks at a FTSE 100 dividend share and considers whether it's worth a punt at current prices.The post ISA investors! Should you buy or sell this 5.4% FTSE 100 dividend yield before February? appeared first on The Motley Fool UK.
After several years of failing growth, this FTSE 100 income champion could be on the verge of a dramatic comeback. The post £1k to invest? I think this FTSE 100 stock could double your money appeared first on The Motley Fool UK.
Several of Britain's top pension funds say they would have lost hundreds of millions of pounds had they sold out of oil and gas stocks in recent years, highlighting a potential cost to scheme members as funds face pressure to help fight global warming. While some major investors globally have been making headlines by announcing fossil fuel divestment plans, several pension schemes in Britain warn there could be a big downside.