Centrica (LON:CNA) Hits New 12-Month High on Insider Buying Activity

Centrica plc (LON:CNA – Get Rating)’s stock price hit a new 52-week high during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as GBX 108.10 ($1.32) and last traded at GBX 102.95 ($1.25), with a volume of 34675848 shares. The stock had previously closed at GBX 107.50 ($1.31).

Specifically, insider Amber Rudd bought 2,014 shares of the business’s stock in a transaction on Wednesday, December 28th. The shares were purchased at an average price of GBX 97 ($1.18) per share, with a total value of £1,953.58 ($2,380.96). In other news, insider Chanderpreet Duggal bought 15,000 shares of the business’s stock in a transaction on Monday, February 20th. The stock was purchased at an average price of GBX 104 ($1.27) per share, with a total value of £15,600 ($19,012.80). Also, insider Amber Rudd acquired 2,014 shares of the company’s stock in a transaction dated Wednesday, December 28th. The shares were bought at an average price of GBX 97 ($1.18) per share, for a total transaction of £1,953.58 ($2,380.96). Insiders acquired 205,960 shares of company stock worth $22,132,865 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. restated an “overweight” rating on shares of Centrica in a report on Tuesday, March 7th. Barclays restated an “overweight” rating and issued a GBX 160 ($1.95) price target on shares of Centrica in a research note on Monday, February 6th. Citigroup raised their target price on shares of Centrica from GBX 110 ($1.34) to GBX 118 ($1.44) and gave the stock a “buy” rating in a report on Wednesday, January 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a GBX 130 ($1.58) target price on shares of Centrica in a report on Thursday, January 19th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Centrica has a consensus rating of “Buy” and an average price target of GBX 132 ($1.61).

Centrica Trading Down 4.2 %

The business’s fifty day moving average is GBX 99.91 and its 200-day moving average is GBX 89. The firm has a market cap of £5.93 billion, a P/E ratio of -791.92, a price-to-earnings-growth ratio of 0.40 and a beta of 1.20. The company has a debt-to-equity ratio of 313.83, a quick ratio of 0.40 and a current ratio of 0.95.

Centrica Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, July 20th. Investors of record on Thursday, June 8th will be issued a GBX 2 ($0.02) dividend. This represents a yield of 2.03%. The ex-dividend date is Thursday, June 8th. This is a positive change from Centrica’s previous dividend of $1.00. Centrica’s dividend payout ratio (DPR) is -2,307.69%.

About Centrica

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Centrica plc operates as an integrated energy company in the United Kingdom, Ireland, Norway, North America, and internationally. The company operates through British Gas Services & Solutions, British Gas Energy, Centrica Business Solutions, Bord Gáis Energy, Energy Marketing & Trading, and Upstream segments.