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Share Price Information for SSE (SSE)

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Share Price: 1,811.50
Bid: 1,811.00
Ask: 1,811.50
Change: 12.50 (0.69%)
Spread: 0.50 (0.028%)
Open: 1,770.00
High: 1,811.50
Low: 1,753.00
Prev. Close: 1,799.00
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SSE cuts earnings forecast; considers options on energy unit

Fri, 08th Feb 2019 07:58

(Sharecast News) - SSE said on Friday cut its full year adjusted earnings forecast as a result of the Capacity Market payments standstill, adding that it was mulling options for its energy services unit after the collapse of the sale to Innogy's Npower.In a trading statement, SSE said adjusted earnings fell would fall by 6p a shares, taking the forecast to 64p - 69p.The EU General Court ruled last November that Britain must halt payments under the scheme pending an investigation by European Union regulators. SSE said it was due £60m."The UK government continues to believe that the capacity market is the right mechanism for delivering security of supply at the lowest cost to consumers and stated in February 2019 that it intends to ensure that suspended payments are made to holders of capacity market agreements for 2018/19. This should make this income recognition issue a matter of timing only," SSE said.SSE said it believed its energy services operation would be "best positioned...in a future outside of the SSE group".Future options included a standalone demerger and listing, a sale or an "alternative transaction"."If none of the other options is viable SSE may retain Energy Services as a separate, ring-fenced business within the SSE group that would be expected to be cash flow positive," SSE said.The company said reaffirmed its commitment to recommend a full-year dividend for 2018/19 of 97.5p a share and to deliver the five-year dividend plan set out in May 2018.
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25 Nov 2022 08:45

LONDON MARKET OPEN: European blue-chips edge higher in subdued start

(Alliance News) - London share prices were mixed early Friday, with equities expected to see a muted end to the week amid a half-day of trading in New York.

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25 Nov 2022 08:23

TOP NEWS: SSE sells 25% stake Transmission arm for GPB1.47 billion

(Alliance News) - SSE PLC on Friday said it has reached a deal to offload a 25% holding in its SSEN Transmission unit, roughly a year after the energy company announced it intended to sell a stake.

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25 Nov 2022 07:53

LONDON BRIEFING: SSE sells transmission stake; Devro accepts takeover

(Alliance News) - London's FTSE 100 is set to round off a quiet week with a marginal rise on Friday, as traders in New York return to desks for an abbreviated session.

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25 Nov 2022 07:04

SSE sells 25% stake in transmission business for £1.46bn

(Sharecast News) - Energy utility SSE is selling a 25% stake in its electricity transmission network business to Ontario Teachers' Pension Plan Board for £1.46bn.

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23 Nov 2022 13:23

RBC Capital Markets upgrades SSE to 'outperform'

(Sharecast News) - Analysts at RBC Capital Markets upgraded energy company SSE from 'sector perform' to 'outperform' on Wednesday after gaining clarity on UK windfall taxes.

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22 Nov 2022 10:09

LONDON BROKER RATINGS: Credit Suisse cuts Vodafone; Citi likes BP

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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22 Nov 2022 07:54

LONDON BRIEFING: FTSE 100 called higher as oil prices firm overnight

(Alliance News) - Stocks in London were called slightly higher on Tuesday, as a rising Brent oil price supported the FTSE 100 index, despite unease over Covid-related developments in China.

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22 Nov 2022 07:15

RBC Capital upgrades SSE on windfall tax clarity

(Sharecast News) - RBC Capital Markets upgraded SSE on Tuesday to 'outperform' from 'sector perform' and lifted the price target to 2,050p from 1,825p as it pointed to clarity over windfall taxes.

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21 Nov 2022 10:09

LONDON BROKER RATINGS: Panmure and Goldman Sachs cut boohoo from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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19 Nov 2022 22:00

Sector movers: Power generators boosted by Autumn Statement, Oil and Gas drag

(Sharecast News) - Interest rate sensitive construction and utilities shares paced gains at the end of the week following the Chancellor's well-received Autumn Statement the day before.

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18 Nov 2022 12:21

Barclays sees 'compelling value' in UK utilities after Budget clarity

(Sharecast News) - Barclays said on Friday that the "energy tax overhang" was gone, as it welcomed the clarity brought by Chancellor Jeremy Hunt's announcement on windfall taxes in this week's Autumn Statement.

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18 Nov 2022 09:49

LONDON BROKER RATINGS: Goldman Sachs raises Tritax Big Box to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

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17 Nov 2022 18:27

UK hits power firms with windfall tax, hikes oil company levy

Windfall tax on oil and gas companies rises to 35%

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17 Nov 2022 17:16

UK shares slip after Hunt's new budget raises taxes, squeezes spending

Jeremy Hunt hikes taxes, squeezes spending

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17 Nov 2022 17:01

LONDON MARKET CLOSE: FTSE 100 ends lower despite post-budget rebound

(Alliance News) - London's FTSE 100 made a stellar recovery in the final hours of trading after suffering early afternoon malaise in the wake of the Chancellor's autumn statement.

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