Zacks: Brokerages Expect CenterPoint Energy, Inc. (NYSE:CNP) Will Post Earnings of $0.50 Per Share


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Analysts predict that CenterPoint Energy, Inc. (NYSE:CNP) will report earnings of $0.50 per share for the current quarter, according to Zacks. Two analysts have made estimates for CenterPoint Energy’s earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.54. CenterPoint Energy also reported earnings per share of $0.50 in the same quarter last year. The company is scheduled to issue its next earnings report before the market opens on Thursday, May 6th.

According to Zacks, analysts expect that CenterPoint Energy will report full year earnings of $1.43 per share for the current year, with EPS estimates ranging from $1.38 to $1.52. For the next fiscal year, analysts expect that the business will report earnings of $1.49 per share, with EPS estimates ranging from $1.34 to $1.59. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow CenterPoint Energy.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, February 25th. The utilities provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.20 by $0.09. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. CenterPoint Energy had a positive return on equity of 14.78% and a negative net margin of 9.49%. CenterPoint Energy’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share.

Several brokerages have issued reports on CNP. Evercore ISI lowered CenterPoint Energy from an “outperform” rating to an “in-line” rating in a report on Friday, February 26th. The Goldman Sachs Group raised CenterPoint Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $26.00 to $27.00 in a report on Thursday, January 14th. Credit Suisse Group raised their price objective on CenterPoint Energy from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, April 22nd. Finally, Wells Fargo & Company raised CenterPoint Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $25.00 to $24.00 in a report on Wednesday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $22.85.

In other CenterPoint Energy news, Director Leslie D. Biddle sold 35,000 shares of the stock in a transaction dated Thursday, March 4th. The shares were sold at an average price of $19.94, for a total value of $697,900.00. Following the completion of the transaction, the director now directly owns 34,096 shares of the company’s stock, valued at $679,874.24. The sale was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in CenterPoint Energy by 0.8% in the first quarter. The Manufacturers Life Insurance Company now owns 1,421,710 shares of the utilities provider’s stock valued at $32,202,000 after buying an additional 11,301 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in CenterPoint Energy by 10.3% in the first quarter. Daiwa Securities Group Inc. now owns 31,682 shares of the utilities provider’s stock valued at $718,000 after buying an additional 2,946 shares in the last quarter. State of Michigan Retirement System increased its holdings in CenterPoint Energy by 1.0% in the first quarter. State of Michigan Retirement System now owns 138,399 shares of the utilities provider’s stock valued at $3,135,000 after buying an additional 1,400 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in CenterPoint Energy by 116.0% in the first quarter. Jones Financial Companies Lllp now owns 1,689 shares of the utilities provider’s stock valued at $38,000 after buying an additional 907 shares in the last quarter. Finally, CWM Advisors LLC increased its holdings in CenterPoint Energy by 33.9% in the first quarter. CWM Advisors LLC now owns 57,858 shares of the utilities provider’s stock valued at $1,310,000 after buying an additional 14,650 shares in the last quarter. 91.14% of the stock is owned by institutional investors.

NYSE:CNP opened at $24.42 on Friday. The firm has a market capitalization of $13.47 billion, a PE ratio of -12.52, a price-to-earnings-growth ratio of 3.02 and a beta of 0.95. The business’s fifty day moving average price is $23.17 and its 200 day moving average price is $22.14. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.73 and a quick ratio of 0.59. CenterPoint Energy has a 12 month low of $15.75 and a 12 month high of $25.39.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Thursday, May 20th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, May 19th. This represents a $0.64 dividend on an annualized basis and a yield of 2.62%. CenterPoint Energy’s payout ratio is currently 35.75%.

CenterPoint Energy Company Profile

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

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Earnings History and Estimates for CenterPoint Energy (NYSE:CNP)

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