CNA.L - Centrica plc
| Previous close | 74.78 |
| Open | 74.82 |
| Bid | 69.00 x 0 |
| Ask | 82.00 x 0 |
| Day's range | 74.76 - 76.17 |
| 52-week range | 63.99 - 156.65 |
| Volume | 22,952,357 |
| Avg. volume | 28,525,809 |
| Market cap | 4.413B |
| Beta (3Y monthly) | 0.46 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -10.70 |
| Earnings date | N/A |
| Forward dividend & yield | 0.10 (13.24%) |
| Ex-dividend date | 2019-10-10 |
| 1y target est | 153.87 |
- Reuters
Infrastructure fund consortium bids for stake in UK's nuclear power stations
Dalmore, Equitix and GLIL Infrastructure are looking to acquire about 20% of the business, the report said. EDF Energy and Centrica would sell 10% of the EDF Generation business, Sky reported, adding that JP Morgan has been tasked with finding investors to acquire more shares of the French state-owned utility and Centrica's remaining stake.
- Reuters - UK Focus
UPDATE 4-OVO Energy to break into Britain's Big Six suppliers with SSE deal
Relative newcomer OVO Energy is set to become one of Britain's Big Six energy suppliers after striking a 500 million pound ($622.65 million) deal to buy SSE's retail arm, announced on Friday. The 10-year old independent company has flourished in a market which has seen more than ten small energy suppliers collapse over the past year, hurt by fierce competition and a regulator-imposed cap on prices. "Our focus was always to deliver cheaper, greener, simpler energy and provide good service for customers," OVO Chief Executive and founder Stephen Fitzpatrick said in an interview.
- Fool.co.uk
2 FTSE 100 dividends I believe could be cut in 2020
Dividends from British Gas owner Centrica plc (LON:CNA) and telecoms giant Vodafone Group plc (LON: VOD) could both be on the edge next year.
- Reuters - UK Focus
UPDATE 4-UK retailer M&S slips on FTSE 100 eviction expectations
Marks & Spencer shares fell on Monday on expectations the 135-year old retailer will be relegated from London's FTSE 100 index blue-chip stock market for the first time and a "sell" rating from Goldman Sachs. Removal from the blue chip index in its quarterly review would be another blow for Archie Norman, who became M&S chairman two years ago to work alongside Steve Rowe, who was named CEO in 2016 and has been with the company for three decades.
- Reuters - UK Focus
Siccar Point woos buyers with 600 mln boe reserves, tax incentive
North Sea oil and gas producer Siccar Point is wooing potential buyers of its assets with just under 600 million barrels of oil equivalent (boe) of discovered resources and a $2 billion tax incentive in Britain, a sale document showed. Siccar Point, headed by a former Centrica executive and backed by private equity firm Blue Water Energy and Blackstone, sees its output reaching about 80,000 boe per day (boed) by about 2027, the sale document showed. Siccar Point closed the acquisition of OMV's British North Sea portfolio for $870 million in 2017.
- Fool.co.uk
Marks & Spencer and Centrica set for FTSE 100 exit. Time to buy?
Marks and Spencer Group plc (LON:MKS) and Centrica plc (LON:CNA) are heading for the drop in the FTSE 100 (INDEXFTSE:UKX) September reshuffle.
- Fool.co.uk
One nailed-on winner (and two potential losers) from the FTSE 100 reshuffle
Next month's quarterly reshuffle could see some big names leave the FTSE 100 (INDEX:FTSE:UKX). Paul Summers looks at these and one likely promotion candidate.
- Reuters
Spirit Energy's other owners join Centrica in exiting North Sea oil & gas firm - sources
Spirit Energy's remaining shareholders are looking to join majority owner Centrica in exiting the North Sea oil and gas business worth more than 1.5 billion pounds, four financial sources said. Centrica , which also owns Britain's largest energy supplier British Gas, said in July it was preparing to sell its 69% stake in Spirit Energy to focus on consumer energy services as part of its move away from fossil fuels. The UK utility will now also run the sale on behalf of the other owners, led by Bayerngas GmbH and Munich's municipal utilities company Stadtwerke München, as these make a u-turn on their interest in oil and gas exploration and production, one of the sources said.
- Reuters - UK Focus
Spirit Energy's other owners join Centrica in exiting N.Sea oil & gas firm - sources
Spirit Energy's remaining shareholders are looking to join majority owner Centrica in exiting the North Sea oil and gas business worth more than 1.5 billion pounds ($1.84 billion), four financial sources said. Centrica, which also owns Britain's largest energy supplier British Gas, said in July it was preparing to sell its 69% stake in Spirit Energy to focus on consumer energy services as part of its move away from fossil fuels. The UK utility will now also run the sale on behalf of the other owners, led by Bayerngas GmbH and Munich's municipal utilities company Stadtwerke München, as these make a u-turn on their interest in oil and gas exploration and production, one of the sources said.
- Fool.co.uk
Tempted by the Centrica share price? Here’s what you need to know
Does Centrica plc (LON:CNA) have the potential for a turnaround and does that means investors could profit from it in the coming years?
- Reuters - UK Focus
UPDATE 1-SSE to cut energy prices by 6% from Oct. 1, in line with UK price cap
Britain's SSE will cut energy bills for customers on its standard tariff from Oct. 1, with prices falling 6% in line with regulator Ofgem's price cap, the company said on Wednesday. In August Ofgem said the cap would be lowered by 6% from Oct. 1 to 1,179 pounds ($1,430) per year for average energy use to reflect lower wholesale energy prices. "All customers who are negatively impacted by the change will receive a letter/email to explain how the Ofgem cap works and why we’re changing our prices," SSE said.
- Fool.co.uk
How low can the Centrica share price go?
Is Centrica plc (LON: CNA) starting to look cheap? Roland Head takes a fresh look at this problem shareholding.
- Yahoo Finance UK
Male-dominated firms do worse than diverse rivals, Morgan Stanley finds
Morgan Stanley has developed a new system to measure gender diversity's link to financial performance and found more women equals a higher share price.
- Bloomberg
Britain, Show Us Growth, Not Cash
(Bloomberg Opinion) -- Reality is beginning to bite in the FTSE 100 as some high-yielding stocks give up on generous dividends. But many British companies are still continuing to offer jaw-dropping payouts when what investors really crave is growth.The dividend culture of the FTSE 100 has long been an oddity. Its investors have received a far higher proportion of their total returns from income over the last two decades than if they had invested in, say, the S&P 500 over the same period.With dividends a very British symbol of corporate confidence, boards are reluctant to cut them even when it might be wise to do so. So the FTSE 100 culture has been self-reinforcing.This year has brought some signs of change. Centrica Plc slashed its payout last week. Analysts had expected the utility to announce a deep cut, but not by nearly 60%. Vodafone Group Plc snipped its dividend in May. And last month, tobacco giant Imperial Brands Plc dropped a commitment to grow its payout 10% annually.Yet even now, these companies’ share prices look superficially cheap on a dividend basis, with yields (the dividend divided by the share price) of between 6% and 10%.Indeed, such ratios are nowadays pretty common in the U.K. The average dividend for the top 15 highest-yielding stocks is worth 9% of the share price. The standard explanation – that this signals dividend cuts in the coming years – doesn’t fit very well. Take analysts’ predictions for dividends in three years; even with some cuts forecast, the average yield for this group is still 9%.This is especially odd in a low-rate environment. Yields on some government bonds and high-rated corporate debt are negative or zero. Surely income investors would buy these dividend stocks if the return provided by their annual cash payouts was only 5% rather than double that level? Wouldn’t that provide sufficient compensation for the added risk?One explanation is simply that international investors just don’t care for yield anymore. Domestic U.K. income funds probably would be willing to pay more for these stocks and bid down their yields. But this group isn’t driving the market. Global investors are. They covet growth and don’t want exposure to the U.K. until there’s clarity about Brexit. The average expected increase in sales over the next two years for the top-15 yielding U.K. blue-chip stocks is under two percent. Of course, if the companies aren’t growing, it’s likely because of past under-investment caused by overly-generous dividends. But cutting dividends now to invest in growth won’t pay off for some time and would only infuriate the small pool of domestic investors who actually like the income. Meanwhile, global investors sit on the sidelines and company managers stand frozen like a deer in the headlights.To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: Stephanie Baker at stebaker@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Fool.co.uk
7% yields! Are these FTSE 100 dividend stocks investment traps or the key to retirement riches?
Do the possible rewards outweigh the risks at these FTSE 100 (INDEXFTSE: UKX) firms? Royston Wild takes a look at two downtrodden dividend stocks.
- Reuters - UK Focus
UPDATE 4-UK winter energy bills to fall as regulator lowers price cap
Energy bills are set to fall for millions of households in Britain this winter after the country's energy regulator told suppliers to reduce bills by 6% from Oct. 1, following a drop in wholesale gas and power prices this year. Britain's big six energy suppliers are Centrica's British Gas, SSE, Iberdrola's Scottish Power, Innogy's npower, E.ON and EDF's EDF Energy. The regulator, Ofgem, said the price cap for average annual consumption will fall by 75 pounds ($91.21) to 1,179 pounds from Oct. 1.
- Reuters - UK Focus
UPDATE 2-E.ON still sees value in Britain despite profit drop
FRANKFURT/DUESSELDORF, Germany, Aug 7 (Reuters) - E.ON remains committed to the ailing British retail energy market, its chief financial officer said on Wednesday, allaying concerns the German group could pull out after prolonged profit decline. E.ON -- one of Britain's "big six" energy providers -- lost about 400,000 clients in Britain in the first six months of the year, hit by a price cap on tariffs and cut-throat competition that has led profits to plunge by 65%. On a group level, second quarter operating profit fell 18% to 542 million euros ($606 million), higher than the 528 million Refinitiv estimate.
- Reuters
European gas price slump yet to find a floor as inventories burst
A protracted decline in European gas prices, which has hurt some energy firms but may prove a boon to buyers, has yet to find a floor as low summer demand could boost gas storage tanks close to chock-full amid soaring global supply. British and Dutch prices, benchmarks for Europe-wide gas sales as well as some liquefied natural gas (LNG) markets, have lost half of their value since last September. Gas prices tend to fall during the summer but this year's slump was uncharacteristic as it began in the winter months, when prices traditionally rise, and has been accompanied by a larger-than-normal build-up in inventories.
- Fool.co.uk
Are changes at the top enough to offset poor numbers at Centrica?
After slashing its dividend, I think it will take more than a resignation to help the Centrica plc (LON: CNA) share price.
- Reuters - UK Focus
CORRECTED-LIVE MARKETS-Europe bleeds as Trump tweets
Reach her on Messenger to share your thoughts on market moves: rm://josephine.mason.thomsonreuters.com@reuters.net EUROPE BLEEDS AS TRUMP TWEETS (1207 GMT) It's getting worse here in Europe and tweets from Trump on trade deal are not helping markets. The trade-sensitive DAX is bleeding (-2.5%), pulling down rest of Europe.
- Reuters - UK Focus
LIVE MARKETS-Banks put Europe on course for worst day in 2 months
* Euro zone STOXXE down 1.4%, as DAX falls 1.8% * London edges up on BP, sterling * Investors ready for expected rate cut tomorrow evening * Lufthansa hits turbulence after results * Oil & gas gains, travel & leisure fall Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason.
- Fool.co.uk
Centrica just slashed its dividend: here’s what I’d do
Poor results. Dividend cut. Boss to step down. It's all happening at British Gas owner Centrica plc (LON:CNA).
- Reuters - UK Focus
LIVE MARKETS-Are FTSE dividends safe?
* Euro zone STOXXE down 1.1%, London edges up on BP, sterling * Investors ready for expected rate cut tomorrow evening * Lufthansa hits turbulence after results * Oil & gas gains, travel & leisure fall Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: rm://josephine.mason.thomsonreuters.com@reuters.net ARE FTSE DIVIDENDS SAFE? Marks & Spencer and Vodafone had both cut dividends by 40% each in May. Centrica shares hit a 21-year low today after the owner of Britain's largest energy supplier, British Gas, slashed its dividend by more than half and said CEO Iain Conn will step down in 2020 as operating profit fell nearly 50%.
