Centrica (OTCMKTS:CPYYY) Shares Gap Up – Here’s Why

Centrica PLC (OTCMKTS:CPYYY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $10.23, but opened at $10.62. Centrica shares last traded at $10.44, with a volume of 522 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CPYYY. Citigroup raised Centrica from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Kepler Capital Markets upgraded Centrica from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. The Goldman Sachs Group reissued a “buy” rating on shares of Centrica in a report on Wednesday, February 25th. Jefferies Financial Group downgraded Centrica from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Centrica in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy”.

Centrica Stock Up 3.3%

The firm’s 50-day simple moving average is $11.11 and its 200-day simple moving average is $10.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.41 and a current ratio of 1.45.

About Centrica

Centrica plc is a British multinational energy and services company headquartered in Windsor, England. The company operates across energy supply, services and solutions, delivering gas and electricity to residential, commercial and industrial customers. In addition to commodity supply, Centrica offers a range of services such as boiler installation and maintenance, smart home technology, and energy efficiency solutions through its field-based engineering teams.

Established in 1997 following the demerger of British Gas, Centrica has evolved through strategic acquisitions and divestments to focus on core markets and capabilities.