Centrica's vertical integration mitigates regulatory pressure.
Centrica released first-half results below consensus expectations on the bottom line but roughly in line with our full-year estimates. The group also reaffirmed its GBX 12 dividend per share to allay investors' concerns over its sustainability. We maintain our fair value estimate of GBX 160 per share and our no-moat, stable trend ratings. Shares are slightly undervalued. ÂAdjusted EBIT decreased by 4% to GBP 782 million, in line with expectations. Recurring net income decreased by 20% to GBP 35...
Centrica is an energy and services company. Co.'s segment are: Energy Supply and Services, which supplies gas and electricity in the U.K. and North America; Connected Home, which supplies energy solutions and technologies to residential customers; Distributed Energy and Power, which supplies energy solutions, generation and technologies to commercial and industrial customers; Energy Marketing and Trading, which trades and optimizes energy; Exploration and Production, which produces and processes gas and oil and develops new fields; Central Power Generation, which generates power from combined cycle gas turbines, wind and nuclear assets; and Centrica Storage, gas storage in the U.K.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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