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"

Seems to have had a good effect on the sp. Profit and the divi.....now that would be nice!

Good call Harry - I bailed here a while ago unfortunately!

Note from HSBC today:
"Cutting the coat to fit the cloth – for Centrica in 2014 this means cost reduction and efficiency, new growth, political engagement: It has been 12 months since Centrica’s management announced a strategy announcement to focus investment on the US rather than the UK. This strategy was vindicated by the prospect of intervention in the UK supply market by the Labour party if elected to government in 2015 and the lack of political drive to offer attractive investment incentives for new gas-fired generation. At the FY results on 20 February, management pointed out that 20% of Centrica’s customers are already on a fixed-price contract so progress has been made on encouraging customers to fix prices, which helps to mitigate political risk. It also defended its integrated and UK/US model as sheltering from volatility, giving it scale in gas contracts, and allowing UK leverage from a growing US liberalised market. In 2014 it intends to drive growth in British Gas residential and ‘harvest’ its upstream assets, cutting upstream investment by 20% to GBP900m for the next three years.
Hidden value in upstream: Management announced at the FY results that 155mmboe of 2P gas reserves had been added, some 56mmboe organically from its own assets, after a rapid phase of expansion. We set out as a small example recent exploration drilling success in the Butch Norwegian field. Centrica is the field operator, and has a 40% stake. Its near field exploration wells indicate the potential for a four-fold increase in field size. In the Butch Main field 50-60mmboe has been discovered. We value Faroe Petroleum’s (FPM LN, OW(V), 201p) 15% stake at GBP143m, implying a value for Centrica of GBP381m.
Target price raised to 380p from 350p; rating upgraded to OW from Neutral. Our target is based on the average of three methodologies – DCF, DDM and SOTP. We have also included the Butch asset valuation in our sum of parts and increased our long-term dividend growth assumption. Lower capex in upstream has increased FCF but still will generate additional FCF as Centrica shifts its attention to higher producing areas such as Norway and the US and away from the UK. Lower storage earnings have offset some of the Butch benefit in our SOTP though."

StockMarketWire.com
Centrica bought back 1,000,000 ordinary shares yesterday at an average price of 330.1746p each to be held in treasury.

Harry - that's a regular occurrence lately - CNA RNS

(Reuters) - British utility Centrica (CNA.L) has agreed to buy the gas and electricity supply arm and a gas-fired power plant from Ireland's state-owned Bord Gais Eireann for 1.1 billion euros (922 million pounds).

Centrica's partners iCON Infrastructure Partners and Brookfield Renewable Energy Partners will purchase Bord Gais' distribution and renewable power generation assets, respectively, the companies said.

The transaction is expected to close in the first half of 2014.

The Irish state had put the Bord Gais assets up for sale as part of its privatisation programme.

Ex-divi wed 23rd Apr (12.08p)

StockMarketWire.com
Centrica's North American subsidiary, Direct Energy, has agreed to sell its Ontario home services business to EnerCare C$550 million (£300 million).

Direct Energy currently has nearly 1.9 million home services contracts in Ontario, to provide a range of plumbing, heating, ventilation, air conditioning and other related services. The majority of customers are served through a joint arrangement, under which EnerCare owns the water heater assets, while Direct Energy provides services and manages the customer relationships. This transaction will combine the two parts of the business into a single entity, wholly-owned and managed by EnerCare, enhancing the overall customer proposition.

Badar Khan, President and CEO of Direct Energy, said: "This is an attractive opportunity to realise value from the Canadian home services business. With our activities in Ontario no longer forming a material part of the business, we will focus our attention on opportunities in the United States and Alberta, through a range of innovative products, including combined energy and services offerings."

CENTRICA ENTERS RAPIDLY GROWING US RESIDENTIAL SOLAR MARKET THROUGH ACQUISITION OF ASTRUM SOLAR

Centrica plc's North American subsidiary, Direct Energy, has acquired the US residential solar business, Astrum Solar, for US$54 million (£32 million).

Astrum Solar designs, installs and maintains solar power generating equipment for use in the home. It currently has around 4,000 customers, predominantly in the US Northeast and California, and in 2014 is expected to generate around US$40 million of revenue. The company was founded in 2008 and is one of the fastest growing residential solar energy companies in the United States.

This acquisition provides Direct Energy with the opportunity to expand the range of products offered to its customers, selling solar alongside energy and services.

Direct Energy President and CEO Badar Khan said: "We are excited at the potential of the Astrum Solar business in a rapidly growing market and we are delighted to be adding solar power to the range of energy options we already offer our customers. This acquisition fully aligns with our vision of using new technology and innovation to help our customers gain greater control over their energy use."

LONDON--U.K.-based utility Centrica PLC (CNA.LN) on Tuesday confirmed the appointment of BP PLC's (BP.LN) Board Director Iain Conn as Chief Executive with effect from Jan. 1, 2015.

Centrica's announcement follows last week's confirmation of talks with Mr. Conn about the possibility of him succeeding as CEO of the firm.

Centrica, which distributes gas to U.K. households through its British Gas commercial unit, said Mr. Conn's remuneration package will consist of a basic salary of 900,000 pounds ($1.58 million) and variable incentive arrangements which are in line with Centrica's current remuneration policy and practice.

Interim results announcement tomorrow - 31st July.

Half Yearly Report

FINDINGS FROM BOILER SPINE INSPECTIONS AT HEYSHAM 1 NUCLEAR POWER STATION

Centrica notes the statement issued this morning by EDF Energy in connection with the findings from boiler spine inspections at Heysham 1 nuclear power station. Centrica has a 20% interest in EDF Energy's existing nuclear operations.

On this basis, the resulting reduction in output from the affected nuclear power stations is currently estimated to reduce Centrica's earnings per share in 2014 by around 0.3 pence per share.

StockMarketWire.com
RBC Capital Markets has downgraded its recommendation on energy giant Centrica (LON:CNA) to 'underperform' from 'sector perform', stating that the fallout from a series of unfortunate events in the current year are likely to remain a drag for an extended period.

The broker also pointed out that its view is at odds with some in the market, who suggest 'things can only get better', especially under a new management team.

"CNA is one of a handful of stocks under our coverage showing downside to its Price Target. It is also trading on a premium valuation relative to its recent history and we therefore downgrade to Underperform," analysts added.

Centrica's price target has been cut to 310 pence a share from 320 pence.

hopefully they stop buybacks for now, gone long 502.3, tight stop.

I hope that's a typo!

lol skinny !!! that would be 200 pts lower and tight stop not being hit yet..lol
long 305.2..
still good laugh anyway :)

Centrica , stop buying own stock for sake ! Youre messing my chart...lol

Looks like they got my message !:-)
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Not for long
resumed buybacks..:-(
bastards...

Added 301.5.