CenterPoint Energy (NYSE:CNP) Releases FY24 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.61-1.63 for the period, compared to the consensus earnings per share estimate of $1.62. CenterPoint Energy also updated its FY 2024 guidance to 1.610-1.630 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNP. StockNews.com lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Bank of America started coverage on shares of CenterPoint Energy in a research note on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price on the stock. Wells Fargo & Company upped their price target on shares of CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. cut CenterPoint Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $29.00 in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.91.

CenterPoint Energy Price Performance

CNP opened at $29.31 on Monday. CenterPoint Energy has a 12-month low of $25.41 and a 12-month high of $31.57. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $18.82 billion, a P/E ratio of 18.20, a PEG ratio of 2.58 and a beta of 0.92. The stock has a fifty day moving average of $28.51 and a 200-day moving average of $28.95.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. 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 firm posted $0.40 EPS. Equities analysts forecast that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.87%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, November 21st. CenterPoint Energy’s dividend payout ratio (DPR) is currently 49.69%.

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.