CenterPoint Energy (NYSE:CNP) Issues Earnings Results

CenterPoint Energy (NYSE:CNP) announced its earnings results on Tuesday. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02, RTT News reports. CenterPoint Energy had a net margin of 10.55% and a return on equity of 10.44%. During the same quarter last year, the firm posted $0.50 earnings per share. CenterPoint Energy updated its FY 2024 guidance to 1.610-1.630 EPS and its FY24 guidance to $1.61-1.63 EPS.

CenterPoint Energy Stock Up 1.3 %

Shares of CNP stock opened at $29.22 on Tuesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.78 and a quick ratio of 0.58. CenterPoint Energy has a one year low of $25.42 and a one year high of $31.43. The company’s fifty day moving average price is $28.07 and its 200-day moving average price is $28.03. The company has a market capitalization of $18.50 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.54 and a beta of 0.92.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.74%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 58.82%.

Analyst Ratings Changes

Several analysts recently commented on CNP shares. KeyCorp 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, January 4th. Barclays boosted their price target on CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a research note on Thursday, March 14th. Evercore ISI cut shares of CenterPoint Energy from an “outperform” rating to an “in-line” rating and increased their price objective for the stock from $29.00 to $30.00 in a research note on Tuesday, January 23rd. Guggenheim dropped their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Finally, Scotiabank reduced their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.18.

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.