Analysts Set Expectations for CenterPoint Energy, Inc.’s Q3 2024 Earnings (NYSE:CNP)

CenterPoint Energy, Inc. (NYSE:CNP) – Analysts at Zacks Research upped their Q3 2024 EPS estimates for CenterPoint Energy in a research note issued on Thursday, April 4th. Zacks Research analyst R. Department now expects that the utilities provider will post earnings of $0.43 per share for the quarter, up from their previous estimate of $0.42. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.62 per share. Zacks Research also issued estimates for CenterPoint Energy’s Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $1.62 EPS, Q3 2025 earnings at $0.38 EPS, Q1 2026 earnings at $0.55 EPS and FY2026 earnings at $1.86 EPS.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Tuesday, February 20th. The utilities provider reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.83 billion. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same period last year, the firm earned $0.28 EPS.

Other analysts have also recently issued reports about the stock. Guggenheim reduced their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Mizuho restated a “neutral” rating and issued a $29.00 price objective (down from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. TheStreet upgraded CenterPoint Energy from a “c+” rating to a “b” rating in a research report on Tuesday, December 12th. Evercore ISI cut CenterPoint Energy from an “outperform” rating to an “in-line” rating and boosted their price target for the stock from $29.00 to $30.00 in a report on Tuesday, January 23rd. Finally, KeyCorp increased their price objective on shares of CenterPoint Energy from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, CenterPoint Energy currently has a consensus rating of “Hold” and a consensus target price of $30.73.

CenterPoint Energy Price Performance

NYSE CNP opened at $28.28 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.82. CenterPoint Energy has a 12 month low of $25.42 and a 12 month high of $31.43. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.47 and a beta of 0.92. The company’s 50 day moving average is $27.93 and its two-hundred day moving average is $27.91.

Institutional Investors Weigh In On CenterPoint Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNP. Pacer Advisors Inc. raised its holdings in CenterPoint Energy by 302.6% during the 4th quarter. Pacer Advisors Inc. now owns 159,772 shares of the utilities provider’s stock valued at $4,565,000 after buying an additional 120,085 shares during the period. Raymond James & Associates boosted its stake in shares of CenterPoint Energy by 27.0% during the 4th quarter. Raymond James & Associates now owns 1,209,630 shares of the utilities provider’s stock worth $34,559,000 after purchasing an additional 256,820 shares during the period. UBS Group AG grew its holdings in CenterPoint Energy by 37.5% during the 3rd quarter. UBS Group AG now owns 1,540,465 shares of the utilities provider’s stock valued at $41,361,000 after purchasing an additional 420,010 shares during the last quarter. Beach Investment Counsel Inc. PA raised its position in CenterPoint Energy by 32.5% in the 4th quarter. Beach Investment Counsel Inc. PA now owns 416,957 shares of the utilities provider’s stock worth $11,912,000 after purchasing an additional 102,271 shares during the period. Finally, Dark Forest Capital Management LP boosted its position in shares of CenterPoint Energy by 202.0% during the third quarter. Dark Forest Capital Management LP now owns 27,903 shares of the utilities provider’s stock valued at $749,000 after buying an additional 18,664 shares during the period. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.