CenterPoint Energy (NYSE:CNP) Issues FY 2022 Earnings Guidance

CenterPoint Energy (NYSE:CNPGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.37-$1.39 for the period, compared to the consensus EPS estimate of $1.37. The company issued revenue guidance of -. CenterPoint Energy also updated its FY22 guidance to $1.37-1.39 EPS.

CenterPoint Energy Trading Up 0.3 %

NYSE:CNP traded up $0.08 on Friday, reaching $31.47. 2,872,578 shares of the stock traded hands, compared to its average volume of 4,785,593. The firm has a market capitalization of $19.81 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 5.90 and a beta of 0.87. CenterPoint Energy has a 1-year low of $24.33 and a 1-year high of $33.00. The company has a current ratio of 1.03, a quick ratio of 0.80 and a debt-to-equity ratio of 1.43. The company’s 50 day moving average is $29.95 and its 200-day moving average is $29.69.

CenterPoint Energy (NYSE:CNPGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. CenterPoint Energy had a net margin of 18.16% and a return on equity of 10.92%. During the same quarter in the prior year, the business posted $0.36 earnings per share. Equities research analysts anticipate that CenterPoint Energy will post 1.38 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be issued a $0.18 dividend. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, August 17th. CenterPoint Energy’s dividend payout ratio (DPR) is currently 27.98%.

Analyst Ratings Changes

Several brokerages have weighed in on CNP. StockNews.com upgraded CenterPoint Energy from a sell rating to a hold rating in a research note on Tuesday, May 10th. Barclays decreased their price objective on CenterPoint Energy from $36.00 to $33.00 and set an overweight rating for the company in a report on Monday, July 18th. Credit Suisse Group started coverage on CenterPoint Energy in a report on Monday, April 25th. They issued an outperform rating and a $34.00 price objective for the company. Morgan Stanley lifted their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the stock an overweight rating in a report on Thursday, July 21st. Finally, KeyCorp decreased their price objective on CenterPoint Energy from $34.00 to $32.00 and set an overweight rating for the company in a report on Tuesday, July 19th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $31.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CNP. Invesco Ltd. grew its holdings in shares of CenterPoint Energy by 68.2% during the first quarter. Invesco Ltd. now owns 7,638,179 shares of the utilities provider’s stock worth $234,036,000 after purchasing an additional 3,096,455 shares in the last quarter. State Street Corp lifted its position in CenterPoint Energy by 10.0% in the 1st quarter. State Street Corp now owns 33,279,592 shares of the utilities provider’s stock worth $1,019,687,000 after buying an additional 3,035,409 shares during the last quarter. Vanguard Group Inc. lifted its position in CenterPoint Energy by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 73,506,201 shares of the utilities provider’s stock worth $2,252,230,000 after buying an additional 1,502,900 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in CenterPoint Energy by 27.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,107,212 shares of the utilities provider’s stock worth $95,204,000 after buying an additional 670,633 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in CenterPoint Energy by 28.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,585,045 shares of the utilities provider’s stock worth $79,208,000 after buying an additional 572,884 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

CenterPoint Energy Company Profile

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CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas 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.

See Also

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

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