CenterPoint Energy, Inc. Declares Quarterly Dividend of $0.27 (CNP)
CenterPoint Energy, Inc. (NYSE:CNP) announced a quarterly dividend on Thursday, July 27th, RTT News reports. Stockholders of record on Wednesday, August 16th will be paid a dividend of 0.2675 per share by the utilities provider on Friday, September 8th. This represents a $1.07 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Monday, August 14th.
CenterPoint Energy has increased its dividend by an average of 7.5% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. CenterPoint Energy has a dividend payout ratio of 82.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect CenterPoint Energy to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.07 annual dividend with an expected future payout ratio of 77.0%.
Shares of CenterPoint Energy (NYSE:CNP) opened at 29.05 on Wednesday. CenterPoint Energy has a 52 week low of $21.83 and a 52 week high of $29.14. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 26.90 and a beta of 0.64. The stock’s 50 day moving average is $27.92 and its 200 day moving average is $27.56.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating 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 business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was up 36.1% on a year-over-year basis. On average, equities analysts forecast that CenterPoint Energy will post $1.32 EPS for the current year.
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In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $28.67, for a total transaction of $28,670.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 3,000 shares of company stock valued at $84,560 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.
A number of analysts have commented on the stock. BidaskClub raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. J P Morgan Chase & Co initiated coverage on shares of CenterPoint Energy in a report on Thursday, June 29th. They set a “neutral” rating and a $29.00 target price for the company. Finally, Deutsche Bank AG increased their price objective on shares of CenterPoint Energy from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $27.33.
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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