Any thoughts on the company?


Red line 200 MA

24 Mar 2015 "Deutsche Bank cuts Centrica to 'sell' from 'hold', target cut from 280p to 225p"

Interim Management Statement

Centrica expects to deliver year on year earnings growth in 2012 in line with market expectations, subject to the usual variables of weather and commodity prices, in a continuing weak economic environment.

Article from The Scotsman, didn't realise we traded as Scottish Gas...learn a little every day :-)

Scottish Gas on target for double digit profit growth

By GARETH MACKIE
Published on Thursday 15 November 2012 07:54

Centrica, the parent company of Scottish Gas – which recently raised its energy prices by 6 per cent – today said its UK residential services business was on track to deliver double digit growth in profits this year.

The group said the improved result was a result of “cost efficiencies” across the business, which has seen the number of household customer accounts remain broadly flat since the first half of the year.

In a trading update ahead of its full-year results, which are due for release in February, the energy giant said average UK residential gas consumption for the first ten months of the year was 9 per cent higher than for the same period of 2011, reflecting “colder than normal weather in the year to date following an unusually warm 2011”.

The firm said: “Like the rest of the industry we have been faced with higher costs to help upgrade the UK’s gas and electricity grids and to deliver the UK’s carbon reduction targets, both in power generation and in the home.

”These costs, which are out of our control, have added around £50 to the cost of supplying the average household. We have also experienced rising wholesale gas prices, which are 13 per cent higher this winter than last.”

Beginning to look stronger by the day...or is that a very dangerous thing to say!

Today's move is something that is not often seen in CNA (+8/9p), if the sp holds over 340 this could be the start of a serious re rating, fingers crossed and watching closely....

340 not held but a good finish!
Cold weather continuing :-))

Centrica shares have been on a bit of a surge, putting on 10% in the past few weeks to reach 340p. The rise was spurred further this week by the news that Hinkley Point B and Hunterston B power stations have received approval to operate for a further seven years, from 2016 to 2023.

Centrica is a great dividend payer, and even after the recent price rise, forecasts suggest a dividend yield of around 5% from shares on a modest price-to-earnings (P/E) ratio of 12. Centrica's dividends are also better covered that some of the other utilities companies.

People doing a year-end review of their portfolios might do well to consider adding this dependable cash cow to the mix.

17-Dec-12 Centrica CNA Societe Generale Buy 333.50p 360.00p 360.00p Reiteration


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Sooner than later.

when E xxon and others start fracking the price of gas will decline rapidly in UK as it is in the US.

Halifax, I think fracking operations in the UK will be very limited, we are too densely populated and fracking can cause land disturbance as is well known.

A good rise today, hopefully this is going to take us out of the last month's trading range into new high ground.

Seymour Pierce has retained its 'buy' rating and 403p target price for Centrica after the energy giant revealed on Monday that it would not be proceeding further in nuclear build in the UK and would be launching a buy-back programme.

"This announcement removes some uncertainty around Centrica’s investment intentions, confirming some recent press speculation. The share buy-back is small, but its impact should be modestly enhancing; and given the group’s very strong underlying cash flow, it retains its firepower with respect to other investment options, along with the potential for further capital returns."

Final Results

STRONG PERFORMANCE ALLOWS US TO CONTRIBUTE OUR FAIR SHARE

Adjusted earnings up 5% to £1,406 million; 27.1 pence adjusted basic earnings per share

After a warm 2011, cooler weather saw average domestic gas consumption increase by 12%

Centrica Energy and Direct Energy benefiting from enhanced scale; adjusted operating profit in the UK up by 2%, adjusted operating profit from non-UK operations up by 78%

Adjusted Group tax charge of £1.1 billion, £773 million relating to the UK; 44% Group effective tax rate

Share repurchase of £500 million announced and full year dividend up 6% to 16.4 pence per share, benefiting over 700,000 individual shareholders and pension funds

Societe Generale Buy 360.15 355.10 371.00 400.00 Upgrades

CNA moving into higher territory, that 400 may not be long from here,
although one hic up could be going x/d on the 24th

....and it was a hiccup.
Look forward to Monday now for the IMS, it could well set us back on track for 400.

Interim Management Statement

Against a backdrop of sustained cold weather and periods of higher commodity prices, Centrica has performed well in the year to date. This strong performance enables the business to continue to invest in customer service and price competitiveness and full year earnings growth is expected to be in line with market expectations. We have also made good progress towards our refreshed strategic priorities, having announced a North American LNG export agreement with Cheniere in March and the acquisition of Canadian natural gas assets from Suncor in partnership with Qatar Petroleum International (QPI) in April.

Downstream in the UK, our residential energy supply business has had a good start to the year, with the number of accounts increasing by 28,000 over the first four months. This reflects a competitive pricing position and continued good levels of customer service, leading to higher levels of customer retention. We also continue to lead the industry in ensuring our energy proposition is simple, fair and transparent, and our unique, proactive ‘Tariff Check’ gives customers confidence that they are on the right tariff for them.

As a result of the unusual period of extended cold weather, average residential gas consumption was 18% higher in the first four months of 2013 than in the same period in 2012, and average residential electricity consumption was 3% higher. Recognising the economic pressures facing many of our customers, the Board has determined that any benefit arising from the exceptionally cold weather will be used to maintain our price competitiveness. As a result of this decision, we expect the residential energy supply business to deliver an operating profit for the full year in line with expectations, weighted towards the first half.

Not a nice looking chart today.
Possible the potential buy is upsetting the market:

http://www.bloomberg.com/news/2013-05-28/centrica-said-to-pick-citigroup-for-irish-power-company-bid-help.html

CNA bought 1.2m of their own shares @ an average price of 392p, which means a paper loss for shareholders of £168k how clever of them! Don't they watch the markets?

More cash for the buy backs, or will it go to possible the Irish power bid?


31 May 2013

Centrica sells 50% interest in Braes of Doune onshore wind farm

Centrica plc has reached an agreement to sell its 50% interest in the 72MW Braes of Doune onshore wind farm in Stirlingshire, Scotland, for £59 million in cash. The stake has been acquired by the Hermes GPE Infrastructure Fund, which is managed by Hermes GPE LLP. Centrica will continue to receive 100% of the wind farm�"s output under a power purchase agreement (PPA).

The sale is in line with Centrica�"s strategy to release capital from operational wind assets to enhance returns. Following completion of the transaction, Centrica will retain equity interests in four operational wind farms, and also retains interests in potential offshore wind farm projects at Race Bank and in the Round 3 Irish Sea Zone.

selling out of unpopular wind farms very sensible.