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"

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 !:-)
----
Not for long
resumed buybacks..:-(
bastards...

Added 301.5.

Taking a piss this thing not like it not going wait for stop , out - 2.2 pt

Interim Management Statement

Since its Interim results on 31 July 2014 the Group has:

returned to customer account growth in UK residential energy supply and residential services in recent weeks

completed major systems upgrades in British Gas and Direct Energy, enabling improved customer service and enhancing our ability to offer a broader range of propositions

continued to help customers understand and control their energy consumption through leadership in smart connected homes and innovation – the sustainable way to keep bills down; the average British Gas residential dual fuel bill is expected to be around £100 lower in 2014 than 2013 reflecting warmer weather and energy efficiency measures

continued its delivery of cost reduction initiatives, with programmes in British Gas
Business and Direct Energy on track

seen a further improvement in sold margins in Direct Energy Business, with a strong increase in second half year-on-year operating profit expected

remained on track with its upstream capital expenditure programme, including the large-scale Cygnus and Valemon projects in the North Sea

more...

StockMarketWire.com
Centrica has sold its 50% non-operated interest in the 90MW Barrow Offshore Wind Farm, located in the East Irish Sea.

The stake has been acquired by the operator, DONG Energy, which owns the remaining 50% of the asset. As part of the transaction, the power purchase agreement (PPA) currently in place between Centrica and the Barrow Offshore Wind Farm will be terminated. The total consideration is £50m in cash.

The sale is in line with Centrica's strategy to release capital from its UK operational wind portfolio for value. It retains interests in three operational wind farms and continues to purchase a substantial amount of renewable and lower carbon power for its customers.

Last year the power generated globally through our investments in nuclear and renewable energy helped avoid more than 8m tonnes of CO2 equivalent. In addition, the company says that the products Centrica has installed in UK homes since 2010 have cut over 9.8m tonnes of CO2 equivalent.

Morgan Stanley note summary:
"With a dividend yield of 6.7%, Centrica is clearly discounting a material risk of a dividend cut – we think this is unlikely. The dividend is amply covered by cash, even in our bear case, thus we think an assumption of a dividend cut is too pessimistic. We upgrade Centrica to Overweight as we see the risk-reward now skewed to the upside, even in the weak commodity environment. SSE offers an attractive dividend yield, an average payout ratio and is committed to growing this dividend, which is entirely possible in our view. It is central to our thesis on SSE that the dividend is sustainable, even at lower commodity prices. We calculate that, all else equal, a sustained further 15-20% decline in power and gas prices would be required to put the SSE dividend at risk. This seems unlikely in our view."

UPDATE - British Gas to cut energy bills by 5%

By Andrew Neil

January 19 2015, 12:14pm
UPDATE - British Gas to cut energy bills by 5%

--adds detail, updates share price--

British Gas will knock 5% off its household gas prices next month following the recent fall in energy prices.

In a statement today, its parent company Centrica (LON:CNA) said the discount, starting from February 27, will benefit 6.8 million customers.

The price cut will reduce the typical household's annual energy bill by £37, according to the firm.

The cheaper price reflects the recent fall in wholesale gas costs, said Centrica chief executive Iain Conn.

“We’ve been watching the significant moves in the international energy market extremely closely for some time, with the aim of helping customers with a price cut at the earliest possible opportunity.”

He added that prices will remain under review for further movements up or down.

Though most of the gas being used in customers’ homes today was bought by firms at higher 2013/14 prices, wholesale costs, which usually move in tandem with oil prices, have seen double-digit falls over recent months.

E.On became the first of the Big Six energy suppliers to cut prices last week.

The firm lowered its standard gas prices by 3.5%– or £24 a year.

It is expected that EDF Energy, Npower, ScottishPower and SSE will soon announce price cuts of their own.

Centrica shares are currently trading 0.8p lower at 264p

The best part of the winter will be over by the time the price cuts activate. Crafty!!!!
Eons discount of 3.5% was straight away.


Centrica (LON:CNA) said the discount, starting from February 27.

C.S. Upgrade:

"Centrica PLC (LON:CNA) was upgraded by equities researchers at Credit Suisse to an “outperform” rating in a research report issued on Tuesday. The firm currently has a GBX 310 ($4.65) target price on the stock, up from their previous target price of GBX 290 ($4.35). Credit Suisse’s price objective would indicate a potential upside of 14.22% from the stock’s previous close."