Centrica (CNA) Cut to Underweight at Morgan Stanley

Morgan Stanley cut shares of Centrica (LON:CNA) to an underweight rating in a research note published on Wednesday.

A number of other research analysts have also recently commented on CNA. JPMorgan Chase reaffirmed a neutral rating on shares of Centrica in a research report on Tuesday. Credit Suisse Group reaffirmed an outperform rating on shares of Centrica in a research report on Friday, May 4th. Kepler Capital Markets decreased their target price on shares of Centrica from GBX 190 ($2.58) to GBX 160 ($2.17) and set a buy rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada raised shares of Centrica to an outperform rating and upped their target price for the company from GBX 150 ($2.03) to GBX 175 ($2.37) in a research report on Monday, February 26th. Finally, HSBC cut shares of Centrica to a reduce rating and decreased their target price for the company from GBX 150 ($2.03) to GBX 120 ($1.63) in a research report on Wednesday, April 11th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of GBX 174.63 ($2.37).

Shares of CNA opened at GBX 144.65 ($1.96) on Wednesday. Centrica has a 12-month low of GBX 119.71 ($1.62) and a 12-month high of GBX 221 ($3.00).

Centrica (LON:CNA) last announced its quarterly earnings data on Thursday, February 22nd. The integrated energy company reported GBX 12.60 ($0.17) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of GBX 12.60 ($0.17). Centrica had a net margin of 2.16% and a return on equity of 21.95%. The firm had revenue of GBX 2,802.30 billion during the quarter.

The firm also recently declared a dividend, which will be paid on Thursday, June 28th. Stockholders of record on Thursday, May 10th will be given a dividend of GBX 8.40 ($0.11) per share. This represents a dividend yield of 5.83%. The ex-dividend date of this dividend is Thursday, May 10th. This is a boost from Centrica’s previous dividend of $3.60.

In other news, insider Margherita D. Valle bought 1,368 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost of GBX 145 ($1.97) per share, for a total transaction of £1,983.60 ($2,690.72). Also, insider Jeff Bell bought 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average price of GBX 141 ($1.91) per share, for a total transaction of £56,400 ($76,505.70). Insiders have bought 44,895 shares of company stock worth $6,335,844 in the last three months.

Centrica Company Profile

Centrica plc operates as an integrated energy company in the United Kingdom, the Republic of Ireland, Germany, Norway, rest of Europe, the United States, Canada, and internationally. The company operates through Centrica Consumer, Centrica Business, Exploration & Production, and Centrica Storage segments.

Analyst Recommendations for Centrica (LON:CNA)

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