CenterPoint Energy, Inc. (NYSE:CNP) Updates FY17 Earnings Guidance
CenterPoint Energy, Inc. (NYSE:CNP) updated its FY17 earnings guidance on Thursday. The company provided earnings per share guidance of $1.25-1.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.31.
Several research firms have recently weighed in on CNP. Zacks Investment Research cut CenterPoint Energy from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub raised CenterPoint Energy from a sell rating to a hold rating in a research report on Monday, July 24th. Deutsche Bank AG upped their price objective on CenterPoint Energy from $27.00 to $28.00 and gave the company a hold rating in a research note on Tuesday, April 11th. Finally, J P Morgan Chase & Co began coverage on CenterPoint Energy in a research note on Thursday, June 29th. They issued a neutral rating and a $29.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. CenterPoint Energy currently has a consensus rating of Hold and a consensus price target of $27.33.
Shares of CenterPoint Energy, Inc. (CNP) opened at 28.54 on Friday. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 26.43 and a beta of 0.64. The company has a 50-day moving average price of $27.92 and a 200-day moving average price of $27.54. CenterPoint Energy, Inc. has a 12 month low of $21.83 and a 12 month high of $29.08.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. CenterPoint Energy’s revenue was up 36.1% on a year-over-year basis. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post $1.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th will be paid a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, August 14th. CenterPoint Energy’s dividend payout ratio is 76.98%.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $27.66, for a total transaction of $27,660.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 3,000 shares of company stock worth $84,560. Corporate insiders own 0.20% of the company’s stock.
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About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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