CenterPoint Energy (NYSE:CNP) Issues Earnings Results

CenterPoint Energy (NYSE:CNP) released its earnings results on Tuesday. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02, RTT News reports. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same quarter in the previous year, the business posted $0.50 EPS. 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 Up 1.3 %

Shares of NYSE CNP opened at $29.22 on Tuesday. The firm’s 50-day moving average is $28.07 and its two-hundred day moving average is $28.03. The company has a market capitalization of $18.50 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.54 and a beta of 0.92. CenterPoint Energy has a 12-month low of $25.42 and a 12-month high of $31.43. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.78 and a quick ratio of 0.58.

CenterPoint Energy Dividend Announcement

The firm 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. This represents a $0.80 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s payout ratio is currently 58.82%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNP shares. Evercore ISI lowered CenterPoint Energy from an “outperform” rating to an “in-line” rating and upped their price objective for the stock from $29.00 to $30.00 in a report on Tuesday, January 23rd. Barclays boosted their target price on shares of CenterPoint Energy from $28.00 to $29.00 and gave the stock an “underweight” rating in a research report on Thursday, March 14th. Guggenheim cut their price target on shares of CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Scotiabank decreased their price objective on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, Mizuho reaffirmed a “neutral” rating and issued a $29.00 target price (down from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.