CenterPoint Energy (NYSE:CNP) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS
CenterPoint Energy (NYSE:CNP) posted its quarterly earnings data on Thursday. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10, RTT News reports. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the business posted $0.39 EPS. CenterPoint Energy’s revenue was up 24.0% on a year-over-year basis.
NYSE CNP traded down $0.22 during trading on Friday, hitting $28.78. The stock had a trading volume of 5,574,393 shares, compared to its average volume of 4,581,452. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.95 and a current ratio of 1.11. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 3.37 and a beta of 0.47. CenterPoint Energy has a one year low of $26.81 and a one year high of $31.42. The stock has a 50 day simple moving average of $29.19 and a 200 day simple moving average of $29.10.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 4.00%. The ex-dividend date is Wednesday, November 20th. CenterPoint Energy’s payout ratio is currently 71.88%.
CNP has been the subject of a number of analyst reports. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research note on Monday, October 14th. Wells Fargo & Co lowered their price target on shares of CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. Barclays raised shares of CenterPoint Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $33.00 to $31.00 in a report on Tuesday, August 13th. Stifel Nicolaus raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $32.00 in a report on Friday, September 6th. Finally, UBS Group lowered their price target on shares of CenterPoint Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $31.79.
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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