CenterPoint Energy (NYSE:CNP) Announces Earnings Results

CenterPoint Energy (NYSE:CNP) released its earnings results on Tuesday. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03, FiscalAI reports. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.12 billion. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%.

CenterPoint Energy Stock Up 0.2%

Shares of CenterPoint Energy stock opened at $41.15 on Tuesday. The firm has a market cap of $27.11 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 2.72 and a beta of 0.47. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.12 and a quick ratio of 0.97. CenterPoint Energy has a 52-week low of $36.37 and a 52-week high of $45.26. The stock has a 50-day simple moving average of $39.02 and a 200-day simple moving average of $41.45.

CenterPoint Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. CenterPoint Energy’s dividend payout ratio (DPR) is 56.47%.

Analysts Set New Price Targets

CNP has been the subject of several research reports. KeyCorp decreased their price target on shares of CenterPoint Energy from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. BTIG Research assumed coverage on shares of CenterPoint Energy in a research note on Tuesday, June 30th. They issued a “neutral” rating on the stock. Wall Street Zen upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of CenterPoint Energy in a research note on Friday, September 11th. Finally, Royal Bank Of Canada started coverage on shares of CenterPoint Energy in a research note on Tuesday, September 15th. They set a “sector perform” rating and a $40.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, CenterPoint Energy currently has an average rating of “Moderate Buy” and a consensus price target of $44.24.

About CenterPoint Energy

CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.

The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.