CenterPoint Energy (NYSE:CNP) Issues FY 2024 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 1.610-1.630 for the period, compared to the consensus EPS estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY 2025 guidance to 1.740-1.760 EPS.

Analyst Ratings Changes

CNP has been the subject of a number of research reports. BMO Capital Markets reiterated a “market perform” rating and set a $28.00 target price on shares of CenterPoint Energy in a research report on Monday, August 26th. Bank of America began coverage on shares of CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 price objective for the company. Scotiabank boosted their target price on shares of CenterPoint Energy from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Tuesday. Wells Fargo & Company upped their target price on shares of CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley lifted their price target on CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.09.

CenterPoint Energy Trading Up 2.5 %

NYSE CNP traded up $0.73 during trading on Thursday, hitting $29.99. The stock had a trading volume of 1,944,843 shares, compared to its average volume of 5,353,755. The stock has a market capitalization of $19.19 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 2.58 and a beta of 0.92. The stock has a 50 day simple moving average of $28.72 and a 200 day simple moving average of $28.98. CenterPoint Energy has a one year low of $25.41 and a one year high of $31.57. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.99 and a current ratio of 1.20.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same quarter in the previous year, the business earned $0.40 EPS. Sell-side analysts predict that CenterPoint Energy will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.21 dividend. The ex-dividend date is Thursday, November 21st. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.80%. CenterPoint Energy’s dividend payout ratio is presently 59.15%.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.