CenterPoint Energy (CNP) Issues FY13 Earnings Guidance
CenterPoint Energy (CNP) issued an update on its FY13 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.22-1.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.26.
CenterPoint Energy (CNP) opened at 20.70 on Wednesday. CenterPoint Energy (CNP) has a 52-week low of $18.59 and a 52-week high of $21.81. The stock’s 50-day moving average is currently $20.39. The company has a market cap of $8.848 billion and a price-to-earnings ratio of 22.09.
CenterPoint Energy last released its earnings data on Wednesday, February 27th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.10. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. CenterPoint Energy has set its FY13 guidance at $1.22-1.30 EPS. On average, analysts predict that CenterPoint Energy (CNP) will post $1.20 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 8th. Shareholders of record on Friday, February 15th will be given a dividend of $0.21 per share. This represents a $0.83 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Wednesday, February 13th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20.
Several analysts have also recently commented on the stock. Analysts at Drexel Hamilton initiated coverage on shares of CenterPoint Energy in a research note to investors on Thursday, February 21st. They set a hold rating on the stock. Analysts at RBC Capital upgraded shares of CenterPoint Energy from a sector perform rating to an outperform rating in a research note to investors on Friday, January 11th. They now have a $23.00 price target on the stock, up previously from $22.00.
Six investment analysts have rated the stock with a buy rating, and seven have issued a hold rating to the company. CenterPoint Energy has an average rating of overweight and a consensus target price of $22.00.
CenterPoint Energy, Inc. is a public utility holding company. The Company’s indirect wholly owned subsidiaries include CenterPoint Energy Houston Electric, LLC (CenterPoint Houston), which engages in the electric transmission and distribution business in a 5,000-square mile area of the Texas Gulf Coast that includes Houston, and CenterPoint Energy Resources Corp.
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