$2.16 Billion in Sales Expected for CenterPoint Energy, Inc. (CNP) This Quarter
Brokerages expect CenterPoint Energy, Inc. (NYSE:CNP) to report $2.16 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for CenterPoint Energy’s earnings, with estimates ranging from $2.15 billion to $2.17 billion. CenterPoint Energy posted sales of $2.14 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.9%. The company is scheduled to issue its next quarterly earnings report on Friday, November 2nd.
On average, analysts expect that CenterPoint Energy will report full-year sales of $9.62 billion for the current fiscal year, with estimates ranging from $8.67 billion to $10.11 billion. For the next year, analysts expect that the firm will post sales of $10.49 billion per share, with estimates ranging from $8.88 billion to $13.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for CenterPoint Energy.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Friday, August 3rd. The utilities provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 earnings per share.
Shares of NYSE:CNP traded up $0.03 during mid-day trading on Tuesday, hitting $28.76. 1,960,400 shares of the company traded hands, compared to its average volume of 4,181,390. The company has a market cap of $12.30 billion, a P/E ratio of 20.96, a PEG ratio of 3.13 and a beta of 0.45. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95. CenterPoint Energy has a 52-week low of $24.81 and a 52-week high of $30.44.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 16th will be paid a dividend of $0.2775 per share. The ex-dividend date is Wednesday, August 15th. This represents a $1.11 dividend on an annualized basis and a yield of 3.86%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 81.02%.
In other news, insider Milton Carroll sold 10,000 shares of CenterPoint Energy stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total value of $282,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of CenterPoint Energy stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $27.99, for a total value of $111,960.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,000 shares of company stock valued at $504,940. 0.22% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of CNP. BlackRock Inc. grew its position in shares of CenterPoint Energy by 13.0% in the 2nd quarter. BlackRock Inc. now owns 45,260,445 shares of the utilities provider’s stock worth $1,254,170,000 after acquiring an additional 5,189,512 shares in the last quarter. Millennium Management LLC grew its position in shares of CenterPoint Energy by 1,227.8% in the 2nd quarter. Millennium Management LLC now owns 3,452,630 shares of the utilities provider’s stock worth $95,672,000 after acquiring an additional 3,192,603 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of CenterPoint Energy by 2,384.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,232,730 shares of the utilities provider’s stock worth $34,159,000 after acquiring an additional 1,183,109 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of CenterPoint Energy by 27.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,640,194 shares of the utilities provider’s stock worth $128,578,000 after acquiring an additional 1,012,520 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of CenterPoint Energy by 39.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,795,150 shares of the utilities provider’s stock worth $77,453,000 after acquiring an additional 791,903 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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