CenterPoint Energy (NYSE:CNP) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

CenterPoint Energy (NYSE:CNP) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02, RTT News reports. CenterPoint Energy had a net margin of 10.55% and a return on equity of 10.44%. During the same period in the previous year, the business earned $0.50 earnings per share. CenterPoint Energy updated its FY 2024 guidance to 1.610-1.630 EPS and its FY24 guidance to $1.61-1.63 EPS.

CenterPoint Energy Stock Performance

CNP stock opened at $29.22 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.82. The firm has a market cap of $18.50 billion, a PE ratio of 21.49, a P/E/G ratio of 2.54 and a beta of 0.92. The business has a 50 day moving average of $28.07 and a 200-day moving average of $28.03. CenterPoint Energy has a 12-month low of $25.42 and a 12-month high of $31.43.

CenterPoint Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 2.74%. CenterPoint Energy’s dividend payout ratio is currently 58.82%.

Analyst Ratings Changes

A number of brokerages recently commented on CNP. KeyCorp boosted their target price on CenterPoint Energy from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Mizuho reissued a “neutral” rating and issued a $29.00 price target (down previously from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Barclays upped their price objective on shares of CenterPoint Energy from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Thursday, March 14th. Scotiabank decreased their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Finally, Guggenheim dropped their price target on shares of CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.18.

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.