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Centrica PLC CNA Stock Quote

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Morningstar‘s Stock Analysis CNA

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Is it the right time to buy or sell?

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Centrica Guides for 2022 EPS Above Expectations, Reinstates Dividend; Shares Cheap

Tancrede Fulop, CFA Senior Equity Analyst

Analyst Note

| Tancrede Fulop, CFA |

We don't plan to materially change our GBX 120 fair value estimate after no-moat Centrica released solid first-half results, guided for 2022 EPS above our expectations and those of the consensus it polled, and reinstated its dividend payment. The firm will pay a GBX 1 interim dividend implying a total of GBX 3 for 2022, below our GBX 5 and consensus' GBX 4. We don't contend this prudence, which we believe is driven by the need to avoid political noise as the energy affordability issue is all over the news. Over time, the company targets to progressively reach a 50% payout ratio. Shares appear significantly undervalued.

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Key Statistics CNA

Company Profile CNA

Business Description

Centrica is a diversified utility based in the U.K. with operations that produce oil and gas and supply natural gas and electricity. Its British Gas business unit is the largest residential supplier of natural gas and HVAC services in Britain. Through bolt-on acquisitions, Centrica intend to build a footprint in innovative energy services linked to new uses. It plans to sell its E&P business and its 20% stake in EDF's nuclear plants in the U.K.

Maidenhead Road, Millstream
Windsor, Berkshire, SL4 5GD, United Kingdom
T +44 1753494000
Industry Utilities - Independent Power Producers
Most Recent Earnings
Fiscal Year End Dec 31, 2022
Stock Type
Employees 19,899

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