British Gas owner Centrica PLC (LSE:CNA) ticked higher after analysts Jefferies said the recent weakness in the share price has been overdone with all its key operational metrics expected to rise this year. The US bank said it has upgraded forecasts this year for underlying profits/earnings forecasts by 4%/3% on the assumption of marginally higher nuclear power output, gas consumption volumes and commodity prices compared to August.
British utility Centrica and U.S. producer Coterra Energy have entered into two gas sale and purchase agreements, which will reduce market risk in Centrica's liquefied natural gas (LNG) portfolio, Centrica said on Wednesday.
Bosses from Centrica PLC (LSE:CNA), EDF, Octopus Energy and other energy companies are meeting a government minister today to discuss measures to support vulnerable households this winter. Representatives from industry bodies including Energy UK, Ofgem and Citizens Advice will also participate in the discussions with energy communities minister Miatta Fahnbulleh.
Centrica's profits tumbled in its latest as gas prices normalised and the bumper profits it made from the energy cap washed through. Striping those exceptional gains out profits still halved to £1 billion (£2.1bn), but the British Gas owner upped its interim dividend by 13% to 1.5p and extended its share buyback by £200 million cash balances rose to £3.2 billion.
Investors will be eager to dissect Centrica PLC (LSE:CNA)'s shareholder returns policy when the British Gas owner publishes an interim trading update next week. Centrica has been walking a tightrope between committing to investor returns and diverting cash flow to value-enhancing energy projects.
Centrica (CPYYY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Travis Perkins (LSE:TPK), AFC Energy, Capita and Centrica were among the companies that analysts reckon could benefit from a potential Labour victory in next week's general election. UK stock market performance around the previous eight UK general elections has been volatile, analysts at RBC Capital Markets pointed out, having drilled through the data going back to the 1992 election won by John Major.
British Gas owner Centrica is backing a £300 million pioneering project that uses cooled air to generate electricity. Centrica will invest £70 million into the plant at Highview, a site in Carrington near Manchester, an area where the premier league team Man United's training ground is based.
British Gas owner Centrica PLC (LSE:CNA) said its performance so far this year has been in line with analyst expectations, with a "more normalised" market backdrop as gas prices retreat from the highs following the Ukraine invasion. Ahead of its annual general meeting today, the FTSE 100 company said full-year adjusted earnings per share are expected to be in-line with consensus analyst expectations, which currently stands at 18.3p.