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Healthy to retrace before climbing to 200p +
Censorship madness- Even the pantomime Widow-Tw- a -n-keys get '*" out?
One analyst, Liberian, said share is oversold and to take profits. Other analysts inc JP Morgan forecasts 190. I think the share goes up with the general market sentiment so as long as the FTSE is going up, CNA will hold its position.
27th - 4% drop in sp before 9am; more than 3000 auto-trades before 9.30am
mm-pigs are profit taking & pinning the sp down.
o'shakey & scott, dumb & dumber, are going to have to do something with the shares in chancery soon - see the daily rns shopping-lists of the two widow-t****eys - 300 or more over recent months.
hold and ride the bigger dipper with a wry-smile...& hope the clowns on the board don't fiu
I think selling 2938 of my 12,938 shares @ £1.7256 on 19th September was a good move; it'll be a much slower rise (to £2+ ?) from here.
Centrica has received a rare 'sell 'recommendation, with analysts at Liberum arguing that all the good news and recent self-improvement are now in the price.
Shares in the British Gas owner have rallied 75% year-to-date fuelled by increased buybacks and dividend growth, but that now looks like it has been overdone, says the broker.
“On balance, we believe Centrica’s current valuation reflects an overly optimistic view of the company’s long-term cash return and investment plans, as market normalisation leads to a declining EPS profile (minus 32% CAGR 2023-27).
“We therefore believe the current share price represents a compelling opportunity for investors to take profits,”
'Sell' is the verdict with a 150p target price.
Why the big drop?
Certainly took place today - with a high traded volume
Judging by the price action, we're in a very healthy consolidation phase as a new support level forms around £1.68ish. It's all looking good.
Hopefully today is the resumption of the upward trend to much higher levels
Previous post obviously on wrong board
For Ramvo - excellent if fact.
If this continues, he may start being able to reduce blood pressure tablets.
Lloyds trading volume today,at the highest that I have noticed for quite a while .
Many investors getting on the double digit returns bandwagon.
No heavy selling taking place today
@mjallen, it seems a great process particularly if energy out exceeds the energy of production.
A healthy pullback today before the next leg up. I think £1.90 is a conservative target for Centrica given it's prospects.
JPMorgan raises Centrica price target to 190 (170) pence - 'overweight'
Totally agree! Impressive profit!
If the operating margin for what you propose is above 30% they will definitely look into it
As a Centrica shareholder I was wondering if they would be interested in another holding I have in PHE DMG process that can gasifier unrecyclable plastics into gas for electricity generators. It would be very useful if Centrica has grid connections around the country. Plus it has the added advantage of stopping plastic killing off our marine life. Its a touch of going back to the old days of local town gasifier plants using coal as a feedstock.
Has anyone got any views on the subject?
September 19, 2023.
Centrica announces new £4 billion ‘green-focused’ investment strategy:
Centrica, the parent company of British Gas, has announced a new investment strategy which will see the company invest £600-800 million a year until 2028 in renewables.
Centrica hopes to invest “up to £4 billion over the next five years” in renewables, flexibility and customer decarbonisation measures like smart meters.
The company says it hopes to deliver “around £800 million of sustainable adjusted operating profit on average each year from our Retail and Optimisation activities”.
The company will invest in its own projects like the recently operational 18MW Codford Solar project, or joint projects with partners.
On security of supply and flexibility, Centrica says they: ”have experience in batteries and gas-peaking plants, and we already own a range of sites with valuable grid connections.” The company completed the construction of the 49MW Roosecote battery storage site in Cumbria in 2018.
Investment will also go towards “customer activities to cement our leading market positions and unique workforce. We will invest in our own Smart Meter Asset provision and we will consider further opportunities such as financing or leasing heat systems to households.”
Chris O’Shea, group chief executive at Centrica said: “The new green investment strategy we’ve announced will see us invest several billion pounds in the energy transition, creating thousands of new well-paid jobs. Our robust balance sheet has allowed us to invest heavily in the UK and Ireland’s energy security and will make sure that our customers have cleaner energy at the right price.”
Centrica recorded profits of almost £1 billion in the first half of 2023. Profits before tax and interest reached over £3.3 billion in 2022. Centrica remains the largest electricity and gas supplier in the UK, covering about 25% of households, though Octopus Energy has grown rapidly in recent years and currently sits just behind Centrica.
Share price performance for the last 6 months +
very steady increase from near the end of March to near end of July, from where the pace of increase has quickened.
Many investors would now be in a great position with this stock.
Personally within a portfolio of quite a number of stocks, Centrica had been for a long time my worst performing stock,but with this great turnaround is no longer.
I think we have all forgotten that Labour will be in power next year, with Starmer, and that complete and utter Buffon shadow energy secretary Ed Miliband will put a spanner in the works, Centrica should prepare for this by announcing that they will be registering the company from Ireland where we have a legit business if they start meddling with the energy Industry as a whole, Miliband was the one who started the decline In the power Industry all those years go and shouldn't be aloud meddle again.
This share has been fantastic, 11 + days in a row and 15 out of the last 16. When all around me is red, CNA produces a warm glow, literally.
It's going to be a long, cold winter, with energy costs increasing. All, good for Centrica. £2 mar come sooner than you think.
The following is taken from today's Yahoo finance:https://uk.finance.yahoo.com/news/224-centrica-share-price-hit-050600698.html
Before the H1 earnings, JPMorgan forecast that the British Gas owner would likely hold 40% of its then market value in net cash by late 2024.
This would represent quite a significant cash in hand position, around £3bn. It’s also a huge turnaround from its net debt position of £3bn in 2020.
In the energy industry, a cash buffer is particularly important given the volatility involved in the energy systems industry.
Moreover, a strong cash position not only allows companies to pounce on opportunities but facilitates ongoing investments in this capex-intensive industry.
Even after surging 224%, the stock trades at approximately 4.3 times forward earnings. While energy and cyclical firms typically command lower valuations, this represents an attractively low one.
It’s worth highlighting also that the firm’s forecast cash position could mean further buybacks and enhancements to the dividend policy. As it stands, the dividend yield sits just shy of 2%, some way below the index average.
While potential risks persist that could dent the share price, the long-term outlook appears favourable, indicating the possibility of additional increases in the price as investor sentiment improves.
£2 next year maybe, not this year.