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CNA has never had this net cash balance- my memory goes back a bit.
Yes they have disposed of assets to help achieve this.
He is no conn. The first time I heard the conn man speak at an internal conference my colleague and I looked at each other in disbelief. It takes a while for all CEOs of centrica to realise that the value is in buying assets when cheap and waiting for the up cycle. This share only rallies when commodity prices rally. Core business is relatively static.
Pathetic - less than 1% on SP= £1.72...O'Shakey just another I.A.M.Connt
Low dividend is going to hurt this share. £600m going to investments is ok, but it's for the future not now. Should reach the bottom soon. Maybe break 120 then slowly rise.
Tep1 muses " @thanglan - I am not sure of your reasons for investing here ..."....?...could not have put it better. Well, I got my 1st tranche of Brit-Gas shares off Mrs M. T...seems half a life time ago...by God, it almost is...and I've played(buy/sell) them ever since. My selfish reasons for being here are to make money....loads-a, loads-a, loads-a money...as Harry Enfield might say. Is their any other reason? I keep asking - POSTERS - why not use the Opinion Box?
Quoted
“German humour is no laughing matter.”
Mark Twain
Live UK gas prices can be found on ice. Just Google ice nbp data.
Change your graph to 5 year GBP/therm follows the same trend. https://www.statista.com/statistics/1174560/average-monthly-gas-prices-uk/ Pricing forecast remains the same for the UK.
As mentioned previously, the share price looks to be in the process of a partial unwind, following the huge % gain from March 2020.
Provided CNA do nothing stupid with their cash balances,
the business looks in decent shape.
Https://tradingeconomics.com/commodity/eu-natural-gas
This is the price I follow.
Just to name a few talking points to consider when qualifying your argument:
- Gas prices declined from their high since August 2022.
- The energy price cap set by ofgem in that period: https://heatable.co.uk/boiler-advice/history-of-ofgems-energy-price-cap
- And current price cap: https://www.ofgem.gov.uk/energy-price-cap
- Forecast of price cap: https://moneyweek.com/personal-finance/605440/will-energy-prices-go-down
- In terms of wholesale gas prices: US IEA say the natural gas spot price is expected to average higher in 2024 and 2025 than in 2023 but will stabilise.
- British Gas retail residential remained broadly flat but small business customers have increased by 15% year on year.
- The average forecast of 800M sustainable operating profit quoted for Retail and Optimisation excludes Infrastructure.
This post may be more reasonable than it appears - although I can't comment on the CNA valuation.
However, gas prices are cratering (at least for now).
@thanglan - I am not sure of your reasons for investing here but its a safe bet long term than trading daily share price movements. As you say its hard to pick the top and bottom. I don't think bankboy would be buying in even at suppressed share price levels unless he felt it would achieve another meteoric rise in share price. Yes the derivatives market contributes to the market gambling attitude and the casino of the city is all about short term money making. They have clients to please. But they will be back with the same attitude year on year to make more money. Similarly I bought into this stock at 35p and I have sold and rebought again along the way when I learn more of the future prospects of the company. I never intend to get bottom or top and very rarely achieve that. In principle its no different though.
This stock is currently trading above its book value. What it suggests is the market values the company higher than what is stated on its balance sheet. Investors believe that the company's future earnings, growth potential, brand value, market share, or other intangible assets contribute significantly to its overall worth. These factors are not reflected in the book value, which mainly includes tangible assets and liabilities only. Its often seen as having strong fundamentals and growth prospects, attracting investors seeking future potential rather than current asset value. Fundamentals for dividend income look very strong. All the major brokers have reiterated a share price at least another 25%-50% above these levels.
Also have a read of what JP Morgan said yesterday. Good luck with your investment
Bankboy, says- "Stop blaming hedge funds - they are trying to create Market Maker's Price. "
But we need someone to Blame & I find the MM-pigs are the BULL on the Dart-Board-of-Blame. As you point out the MM-rats are "creating" the SP daily/hourly. And obviously, to THEIR Long-Term gain. We, the small punters, LTH(long-time-holders) are merely flotsam drifting on a Rough-Ruff-sea-of-shares....Who can I blame?. Less than 6months ago, they have allowed(forced?) the SP down from a magnificent £1.72, with delusions (mine) of £2 in the offing, to a sad £1.29 yesterday.
Certainly I'm happy to blame the MM-pigs, as we see it in their waves of Auto-Trades...many thousands each day.
After 40yrs I have failed, on many occasions, to JUMP-OFF @ a high, or JUMP-IN @ the Lowest SP.
I have started to confide with the Grand-Kids, well, it is their inheretance I'm gambling with. 2 have advised - get out of CNA @ 160p; 2 have advised stick it out to £2; another says stick with BP, GSK, HE1, HNL....WTF???
Thanks for that, I appreciate your time .
No, my point is large funds will top slice and take profits each day along the way, so investors who got in at 75p, 100p, 125p etc will always look to sell into the rise and buy back in as it drifts as we all know things don’t just go up and keep going up, hence why it’s called a market.
Hoping the trough is around the 125p level, though hoping to trade in and out a few times before then.
Good luck - dyor
Hi Bankboy, are yiu saying that these trading companies are looking to drive the price down to 75p? I would appreciate your view
Hey Teppi
Funds over last weeks, will have been reducing holdings on a short term strategies etc
So - good chance of L& G , Threadneedle etc , top slicing out of positions at 75p etc
Tep1,
It’s just a market, investors long or short look to their own ideas , strats , maths etc.
Stop blaming hedge funds - they are trying to create Market Price.
Only 2 weeks ago, a ramper on here talked about 160’s price, when CNA were trading at 145.
Keep it tight
After the first few words i stopped reading
Yes thats kind of pathetic, absolute 0 reasons to sell this share
Marshall Wace LLP. What amuses me mostly is their lackies' attempt to create negativity in the hope they ward off investors and clear out weak hands.
Funniest thing I've read.
Given gas prices keep falling we can now see a steady move south. Fair value. 6 times 800m they say from continuing ops. So 4.8bn risked by 30% to 3.4bn. Plus 2.4 cash. Gives 5.8bn. This ignores upstream so add 0.75bnn. So 6.5bn is roughly fair value. Will buy when gas prices stabilise and mcap gets in the low 6s or high 5bn.
Every day Centrica buyback is nearly 1.5 million shares. can't understand who is the idiot selling this share
The anawer appears to be Yes