Telecom Plus (TEP)

Sector:

Electricity Generation and Distribution

Index:

FTSE 250

2,005.00p
   
  • Change Today:
      19.00p
  • 52 Week High: 2,085.00
  • 52 Week Low: 1,598.00
  • Currency: UK Pounds
  • Shares Issued: 79.86m
  • Volume: 81,836
  • Market Cap: £1,601.16m
  • RiskGrade: 100
  • Beta: 0.01

Berenberg starts coverage of Telecom Plus at 'buy'

By Michele Maatouk

Date: Thursday 08 May 2025

LONDON (ShareCast) - (Sharecast News) - Berenberg initiated coverage of Telecom Plus on Thursday with a 'buy' rating and 2,600p price target as it argued it was a "gem" that has "fallen through the cracks".
The bank noted that through its Utility Warehouse (UW) brand, the business offers a range of energy, broadband, mobile, insurance and cashback card services to UK households and small businesses.

The company's subscription-style platform acts as a virtual service provider for essential household services for homes in the UK, it said.

"Customers can bundle multiple services together, creating a convenient multi-service offering that can achieve the best savings in the market, while also providing TEP with high value, long-term customers," Berenberg said.

"TEP has successfully grown the business through multiple macro environments and cycles to over 1.1m customers and today is the seventh-largest energy provider in the UK and the largest UK energy provider to have acquired all of its customers organically.

"However, in our view, this unique business is flying under many investors' radars."

Berenberg said its lack of peers means that Telecom Plus it is often incorrectly positioned and valued against other utility providers with much lower growth and return profiles.

"This creates an attractive proposal for investors: a predictable and highly cash-generative/high-return (over 30% ROCE) business with circa 10-15% customer growth per annum, trading in the wrong bucket."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Telecom Plus Market Data

Currency UK Pounds
Share Price 2,005.00p
Change Today 19.00p
% Change 0.96 %
52 Week High 2,085.00
52 Week Low 1,598.00
Volume 81,836
Shares Issued 79.86m
Market Cap £1,601.16m
Beta 0.01
RiskGrade 100

Telecom Plus Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.88% below the market average84.88% below the market average84.88% below the market average84.88% below the market average84.88% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
64.01% above the market average64.01% above the market average64.01% above the market average64.01% above the market average64.01% above the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Income
45.73% above the market average45.73% above the market average45.73% above the market average45.73% above the market average45.73% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
17.36% above the market average17.36% above the market average17.36% above the market average17.36% above the market average17.36% above the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Telecom Plus Dividends

  Latest Previous
  Final Interim
Ex-Div 24-Jul-25 05-Dec-24
Paid 15-Aug-25 20-Dec-24
Amount 57.00p 37.00p

Trades for 17-Jul-2025

Time Volume / Share Price
14:52 0 @ 2,010.00p
17:00 2,597 @ 2,006.06p
17:00 2,597 @ 2,005.66p
17:00 1,059 @ 2,006.06p
17:00 1,059 @ 2,005.66p

Telecom Plus Key Personnel

CFO Nick Schoenfeld
CEO Stuart Burnett

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