CenterPoint Energy, Inc. (NYSE:CNP) Expected to Post Earnings of $0.44 Per Share

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Analysts expect CenterPoint Energy, Inc. (NYSE:CNP) to post earnings per share (EPS) of $0.44 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for CenterPoint Energy’s earnings. The lowest EPS estimate is $0.39 and the highest is $0.50. CenterPoint Energy posted earnings of $0.39 per share during the same quarter last year, which suggests a positive year over year growth rate of 12.8%. The business is expected to issue its next earnings report before the market opens on Thursday, November 7th.

On average, analysts expect that CenterPoint Energy will report full year earnings of $1.66 per share for the current financial year, with EPS estimates ranging from $1.63 to $1.72. For the next fiscal year, analysts forecast that the firm will post earnings of $1.79 per share, with EPS estimates ranging from $1.69 to $1.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow CenterPoint Energy.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. CenterPoint Energy had a net margin of 5.55% and a return on equity of 13.59%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue was up 28.0% on a year-over-year basis.

Several analysts have recently weighed in on CNP shares. Goldman Sachs Group lifted their target price on shares of CenterPoint Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. SunTrust Banks upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $30.00 to $32.00 in a research report on Friday, September 6th. Stifel Nicolaus upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $30.00 to $32.00 in a research report on Friday, September 6th. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research report on Monday. Finally, Barclays upgraded shares of CenterPoint Energy from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $33.00 to $31.00 in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $31.79.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $30.06, for a total value of $210,420.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 21,000 shares of company stock worth $608,510. Company insiders own 0.24% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. raised its stake in shares of CenterPoint Energy by 10.6% in the third quarter. Pacer Advisors Inc. now owns 52,382 shares of the utilities provider’s stock worth $1,581,000 after acquiring an additional 5,014 shares during the last quarter. Gradient Investments LLC raised its stake in shares of CenterPoint Energy by 0.7% in the third quarter. Gradient Investments LLC now owns 292,800 shares of the utilities provider’s stock worth $8,837,000 after acquiring an additional 2,115 shares during the last quarter. Viking Fund Management LLC raised its stake in shares of CenterPoint Energy by 38.8% in the third quarter. Viking Fund Management LLC now owns 290,000 shares of the utilities provider’s stock worth $8,752,000 after acquiring an additional 81,000 shares during the last quarter. Crow Point Partners LLC raised its stake in shares of CenterPoint Energy by 227.9% in the third quarter. Crow Point Partners LLC now owns 200,000 shares of the utilities provider’s stock worth $6,000,000 after acquiring an additional 139,000 shares during the last quarter. Finally, Cerebellum GP LLC bought a new position in shares of CenterPoint Energy in the third quarter worth about $379,000. 80.30% of the stock is owned by institutional investors.

Shares of CenterPoint Energy stock traded down $0.32 during trading on Wednesday, hitting $27.95. 69,541 shares of the company’s stock traded hands, compared to its average volume of 4,626,769. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.11 and a quick ratio of 0.95. The firm’s fifty day moving average price is $28.99 and its 200 day moving average price is $29.33. CenterPoint Energy has a twelve month low of $26.74 and a twelve month high of $31.42. The company has a market cap of $14.14 billion, a PE ratio of 17.51, a PEG ratio of 3.11 and a beta of 0.48.

About CenterPoint Energy

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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