|Bid||35.99 x 0|
|Ask||36.01 x 0|
|Day's range||35.40 - 38.83|
|52-week range||29.10 - 97.02|
|Beta (5Y monthly)||1.11|
|PE ratio (TTM)||N/A|
|Earnings date||24 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||07 May 2020|
|1y target est||153.87|
(Bloomberg) -- British Gas’s more than three-decade connection to the U.K.’s blue-chip stock index looks set to come to an end after shares of parent Centrica Plc plunged by more than half this year.Analysts expect Centrica to be demoted from the FTSE 100 benchmark in a quarterly re-shuffle next week. That would represent a moment of historical significance for a stock that under different names has been ever-present in the gauge since 1986, the year that the Conservative government of Margaret Thatcher privatized British Gas through an initial public offering.The shares’ 56% slide this year has reduced the company’s market value to a level where it no longer passes the test to retain its position in the FTSE 100.“Centrica’s ejection would cap a multi-year share-price slide that dates back to a peak of almost 400 pence in 2013,” Russ Mould, investment director at brokerage AJ Bell, said in emailed commentary. The stock closed on Thursday at 39.05 pence, valuing the business at 2.3 billion pounds ($2.8 billion).According to guidelines from index provider FTSE Russell, a stock will be removed from the FTSE 100 if its market capitalization ranks 111 or below among eligible shares at the time of the re-balancing. At its current valuation, Centrica is the 140th biggest company on the FTSE All Share index. The next quarterly review will be based on June 2 closing prices and announced on June 3.The first half of 2020 has been torrid for Centrica, which suspended its dividend and paused a planned sale of North Sea oil and gas assets last month after the Covid-19 pandemic sapped energy demand and triggered a slump in crude prices. Chief Executive Officer Iain Conn stepped down in March after five years leading the group.But the share price fall dates back a lot further than that. On top of a longer-term slide in oil prices, the company has faced competition from smaller challengers like Octopus Energy and Bulb, while also being hit by a price cap by the U.K. Office of Gas and Electricity Markets. The shares are now 90% below a record high set in 2013.Tell SidBritish Gas Plc joined the FTSE 100 on Dec. 9, 1986 after a share sale that was promoted in a government television campaign urging Britons to spread word of the investment opportunity by telling “Sid,” a name that was meant to represent the general public.In 1997, the company, whose history stretches back more than 200 years, was split into separate firms, BG Plc and Centrica Plc. BG later became BG Group Plc and was bought by Royal Dutch Shell Plc in a deal announced in 2015.British Gas, under Centrica, has seen its share of the domestic market steadily decline over the past 15 years, according to Ofgem data, also losing ground to rivals like Electricite de France SA and SSE Plc.That said, a potential turnaround isn’t being ruled out by some analysts.“Following years of structural challenges faced by Centrica in the U.K. retail market, failed attempts to deliver growth in its consumer business and falling profits from its commodity-exposed units, we believe the worst is behind the company,” Citigroup analyst Jenny Ping wrote in a May 21 note.The company has sufficient liquidity to navigate volatile demand due to the pandemic, and a future simplification of the group could boost the shares, Ping wrote.A spokesman for Centrica declined to comment on the upcoming index review when reached by phone.Other stocks that might be demoted from the FTSE 100 in next week’s review include Princes and P&O cruise operator Carnival Plc, budget airline EasyJet Plc and plane-parts maker Meggitt Plc, reflecting the impact of the Covid-19 crisis on global travel demand, according to Helal Miah, an analyst at investment broker The Share Centre, who spoke by phone.That would potentially leave them vulnerable to selling by funds whose aim is to mirror the performance of the FTSE 100 -- known as tracker funds.Stocks that could be added to the benchmark gauge include cybersecurity firm Avast Plc, betting company GVC Holdings Plc and home emergency and repair services provider HomeServe Plc, Miah said.For 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.
The Centrica (LON:CNA) share price has risen by 17.0% over the past month and it’s currently trading at 37.92. For investors considering whether to buy, hold o...
Production at the Fenja oil and gas field off Norway will be delayed due to the restrictions imposed as a result of the COVID-19 outbreak, operator Neptune Energy said on Tuesday. Fenja is the first project Neptune Energy is due to operate in Norway, rather than only be a partner in, with some 97 million barrels of oil equivalent (boe) in recoverable resources and an expected plateau production of 40,000 boe per day.
This Fool delves deeper into two utilities companies' investment viability in the market crash and confirms which one he'd buy and which he'd avoid.The post Here’s 1 market crash share I’d buy, and another I’d avoid appeared first on The Motley Fool UK.
Suppliers have continued to use debt collectors — even after they agreed to support customers in financial distress.
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This FTSE 100 share is exceptionally cheap on paper. But it's also packed with near-term risk. Is it worth buying at current prices?The post Is this FTSE 100 share a ‘best buy’ as the coronavirus crisis rolls on? appeared first on The Motley Fool UK.
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Rupert Hargreaves explains why it might be sensible for investors to avoid these three FTSE 100 companies until the coronavirus outbreak is over. The post Warning! These 3 FTSE 100 shares could fall further in the stock market crash appeared first on The Motley Fool UK.
Spirit Energy has temporarily shut its 9,000 barrel per day Chestnut oilfield in the British North Sea due to the impact of coronavirus on its workforce, it said on Thursday. Spirit is majority-owned by Britain's largest energy supplier Centrica, which cancelled its 2019 dividend earlier this month, sending its shares to record lows. Centrica wants to sell its stake in Spirit.
Britain's largest energy supplier British Gas will furlough around 3,800 employees as the coronavirus pandemic forces the company to scale back operations, parent Centrica <CNA.L> said on Wednesday.
The Centrica share price keeps falling. Is now the time to start buying? Roland Head looks at the latest news and gives his verdict.The post The Centrica share price has crashed. Here's what I'd do now appeared first on The Motley Fool UK.
As Centrica cancels its dividend for 2020, the outlook is gloomy for the energy group. But I still think some other FTSE 100 companies offer value. The post The Centrica share price is falling but I prefer this FTSE 100 stock appeared first on The Motley Fool UK.
Britain’s second largest energy supplier, OVO Energy, said it had furloughed around a third of its workers because the government's lockdown prevents staff such as smart meter readers and engineers from carrying out operations. The government has ordered sweeping measures to fight coronavirus, shutting down much of the economy and asking people to stay inside and avoid non-essential travel. "To provide those affected with certainty over the coming months, and following discussion and agreement with relevant Unions, 3,400 staff across OVO and SSE Energy Services will be placed on furlough leave," OVO Energy said in a statement.
Britain's largest energy supplier Centrica <CNA.L> cancelled its 2019 dividend and cut costs in anticipation of an increase in non payments by customers and a drop in demand due to the COVID-19 outbreak, sending its shares to record lows. "We also expect to see an increase in working capital outflows and customer bad debt, as certain customer segments defer payments due to the reduction of household incomes and business revenues," Centrica said on Thursday. Britain's energy trade association Energy UK earlier this week called on the government to offer financial support to energy suppliers to help them offer payment breaks to those struggling with bills.
The British government has agreed emergency measures with the energy industry to ensure vulnerable households remain supplied with power during the disruption caused by the novel coronavirus, it said on Thursday. Disconnection of credit meters will be completely suspended, while energy customers in financial distress can also ask their suppliers for debt repayments and bill payments to be reassessed, reduced or paused, the government said. The agreement has been signed by all UK domestic energy suppliers and will come into force immediately.
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Conn, who announced last July that he planned to quit, had been under pressure from shareholders because of the company's poor performance. O'Shea, Conn's immediate replacement, was appointed Chief Financial Officer in 2018, and will continue as interim CEO until a permanent one is identified. The company also said Chairman Charles Berry will be replaced by Scott Wheway, with Berry's decision to leave coming after advice from doctors to reduce his workload.
Thursday is arguably the day the impact became tangible, as a slew of UK companies warned coronavirus was hurting their business.
British utility Centrica <CNA.L> has agreed a three-year partnership with Volkswagen <VOWG_p.DE> to provide home-charging hardware for new electric vehicle owners, it said on Wednesday. The deal will see Elli, the main provider of charging hardware and services for Volkswagen Group, work with Centrica's British Gas to deliver a package of home-charging installations, after-sales services and electrical upgrades across Britain. This will help customers to switch to electric vehicles, initially across the Volkswagen, SEAT, SKODA and Volkswagen Commercial Vehicles brands, with plans for Audi to join later this year, Centrica said.
Britain's Centrica chartered a vessel to supply liquefied natural gas (LNG) this month to power firm Centrais Elétricas de Sergipe S.A. (CELSE) , launching Brazil's first private LNG terminal. Brazil has been implementing reforms to end the monopoly of Petroleo Brasileiro SA, known as Petrobras, in supplying natural gas to the domestic market. The new terminal was developed before the reforms were announced last year.
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.
* 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.