CNA.L - Centrica plc

LSE - LSE Delayed Price. Currency in GBp
+1.42 (+3.74%)
As of 1:04PM BST. Market open.
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Previous Close37.98
Bid39.38 x 0
Ask39.42 x 0
Day's Range38.37 - 39.90
52 Week Range29.10 - 97.02
Avg. Volume57,760,842
Market Cap2.3B
Beta (5Y Monthly)1.11
PE Ratio (TTM)N/A
EPS (TTM)-17.80
Earnings DateJul. 24, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMay 07, 2020
1y Target Est153.87
  • British Gas Owner’s 33-Year Reign in FTSE 100 Index Nears an End

    British Gas Owner’s 33-Year Reign in FTSE 100 Index Nears an End

    (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.

  • Centrica's British Gas to furlough 3,800 employees

    Centrica's British Gas to furlough 3,800 employees

    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.

  • Reuters

    UK's Centrica shares hit record low amid cancelled dividend, weak demand

    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.

  • Reuters

    Chris O'Shea named Centrica's interim boss as CEO Iain Conn leaves

    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.

  • Centrica, Volkswagen agree three-year deal for electric vehicle home charging

    Centrica, Volkswagen agree three-year deal for electric vehicle home charging

    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.

  • Thomson Reuters StreetEvents

    Edited Transcript of CNA.L earnings conference call or presentation 13-Feb-20 9:30am GMT

    Full Year 2019 Centrica PLC Earnings Call

  • GLOBAL MARKETS-Jump in coronavirus cases halts stock rally; dollar gains

    GLOBAL MARKETS-Jump in coronavirus cases halts stock rally; dollar gains

    NEW YORK/LONDON, Feb 13 (Reuters) - The dollar rose and global equity markets slumped on Thursday after a new methodology that boosted the death toll in China from the coronavirus unnerved investors, putting the brakes on a rally that had lifted U.S. and European stocks to 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. Hubei had previously only allowed infections to be confirmed by RNA tests, which can take days, and began using computerized tomography (CT) scans to identify and isolate cases faster.

  • Centrica profits plunge on energy price cap, lower gas prices

    Centrica profits plunge on energy price cap, lower gas prices

    Profits at British utility Centrica <CNA.L> slumped 35% last year, hit by a government price cap on some energy bills and the impact of lower natural gas prices on its production business, sending its shares down as much as 17% on Thursday. The company, whose British Gas unit is Britain’s largest energy supplier, said adjusted operating profit fell to 901 million pounds from 1.39 billion pounds in 2018. "2019 operating profit and earnings were materially impacted by a challenging environment, most significantly the implementation of the UK default tariff cap and falling natural gas prices," said chief executive Iain Conn in a statement.

  • Reuters

    Chairman of Centrica, Weir takes leave due to medical condition

    Centrica said it expects Berry to return to his duties shortly, leaving Scott Wheway in the position on an interim basis. Weir, in a separate statement, said director Barbara Jeremiah would take on the responsibilities during Berry's absence.

  • Should You Take Comfort From Insider Transactions At Centrica plc (LON:CNA)?
    Simply Wall St.

    Should You Take Comfort From Insider Transactions At Centrica plc (LON:CNA)?

    We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. On...

  • New UK industry code aims to prevent Carillion-style crashes

    New UK industry code aims to prevent Carillion-style crashes

    Internal auditors should have direct access to top company bosses to help avoid Carillion-style corporate crashes, a new industry code said on Wednesday. The code from the Chartered Institute of Internal Auditors (CIIA) aims to restore credibility in internal auditors' ability to be the "eyes and ears" of boards to stamp out poor governance and misconduct. Companies hire internal auditors to check for compliance with regulations.

  • Is Centrica plc's (LON:CNA) CEO Pay Justified?
    Simply Wall St.

    Is Centrica plc's (LON:CNA) CEO Pay Justified?

    Iain Conn became the CEO of Centrica plc (LON:CNA) in 2015. This report will, first, examine the CEO compensation...

  • Reuters

    British utility Centrica confirms full-year targets, lifts efficiency goals

    British utility Centrica <CNA.L> is on track to meet its full-year cash flow and earnings targets and on Thursday raised its expected efficiency savings by 50 million pounds ($65 million). Adjusted operating cash flow is expected to be in the lower half of its targeted 1.8-2.0 billion pound range, it said. Centrica said its hedging strategy had insulated it from lower European wholesale gas prices, while a strong performance from its North American business helped to offset lower output from Britain’s nuclear fleet, in which it owns a 20% stake.


    Premarket London: Centrica Says It's on Track; Countryside Roars Ahead -- Here is a summary of regulatory news releases from the London Stock Exchange on Thursday, 21st November.

  • Reuters

    Centrica wins appeal against Ofgem over energy price cap - Ofgem

    British utility Centrica <CNA.L> won an appeal in the High Court on Wednesday against the way in which energy regulator Ofgem calculated a portion of its cap on energy prices, Ofgem said. "The judgement does not change the fundamentals of the price cap, which remains in place and will continue to protect 11 million households on default deals, ensuring that they pay a fair price for their energy," Ofgem said in a statement. Ofgem said it was disappointed by the ruling and it was considering its next steps.

  • 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.

  • Albertans urged to report fraudulent or suspicious phone calls demanding payment
    CNW Group

    Albertans urged to report fraudulent or suspicious phone calls demanding payment

    CALGARY, Sept. 4, 2019 /CNW/ - Direct Energy is reminding customers to remain vigilant against fraudulent phone calls demanding immediate cash payments to avoid service disconnection. At no time will a customer receive a phone call demanding payment be made that day to avoid disconnection. If a customer is suspicious, we encourage them to ask questions or hang up and call the phone number provided on their invoice.

  • 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 <CNA.L>, 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.

  • Thomson Reuters StreetEvents

    Edited Transcript of CNA.L earnings conference call or presentation 30-Jul-19 8:00am GMT

    Half Year 2019 Centrica PLC Earnings Call

  • European gas price slump yet to find a floor as inventories burst

    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.

  • Trade worries hit FTSE 100, banks slip on BoE plan

    Trade worries hit FTSE 100, banks slip on BoE plan

    The blue-chip index followed Wall Street lower after U.S. President Donald Trump warned China not to wait for the 2020 U.S. presidential election to make a trade deal. Big British banks, such as Barclays <BARC.L> and RBS <RBS.L>, fell after the BoE said banks would have to tell investors in 2021 if they could be closed down without disrupting financial markets. Corporate earnings were the main drivers behind most of the major stock moves on both UK indexes.

  • Centrica cuts dividend, CEO to step down

    Centrica cuts dividend, CEO to step down

    Centrica has been shifting towards consumer energy services and away from oil and gas exploration and large-scale power generation, as part of a move away from fossil fuels. As well as supplying energy, Centrica plans to build up its connected home and energy services divisions, offering products like smart thermostats to control home heating via a phone app and electric vehicle products. Centrica shares were down more than 10% below 80 pence per share, having fallen almost 70% since 2015 under Conn's tenure.

  • Canadian Solar and Direct Energy Business sign long-term agreement on 23MW solar project in Southern Alberta
    CNW Group

    Canadian Solar and Direct Energy Business sign long-term agreement on 23MW solar project in Southern Alberta

    CALGARY, July 25, 2019 /CNW/ - Suffield Solar, a subsidiary of Canadian Solar, and Direct Energy Business, part of Direct Energy, one of North America's largest energy and energy-related services providers, and a subsidiary of Centrica PLC, announce that they have signed a long-term agreement to purchase all electrical output and associated capacity from the Suffield facility, scheduled to be online in 2020. "With increased customer demand in summer, the addition of 23 MW of solar output will help Direct Energy build renewable power supply options for our customers and provide an alternative to traditional market-based hedges" said David Brast, Senior Vice President, North America Gas and Power, Direct Energy Business.