CenterPoint Energy (NYSE:CNP) Issues FY24 Earnings Guidance

CenterPoint Energy (NYSE:CNPGet Free Report) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $1.61-1.63 for the period, compared to the consensus EPS estimate of $1.62. CenterPoint Energy also updated its FY 2024 guidance to 1.610-1.630 EPS.

CenterPoint Energy Stock Performance

CenterPoint Energy stock traded up $0.68 during mid-day trading on Thursday, reaching $29.94. 1,503,273 shares of the company traded hands, compared to its average volume of 5,351,802. CenterPoint Energy has a fifty-two week low of $25.41 and a fifty-two week high of $31.57. The firm’s fifty day moving average is $28.72 and its two-hundred day moving average is $28.98. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 0.99. The company has a market capitalization of $19.15 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.58 and a beta of 0.92.

CenterPoint Energy (NYSE:CNPGet Free Report) last announced its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. During the same period in the previous year, the business posted $0.40 EPS. On average, equities research analysts expect that CenterPoint Energy will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, November 21st. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s dividend payout ratio is currently 59.15%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Bank of America initiated coverage on shares of CenterPoint Energy in a research note on Thursday, September 12th. They issued a “neutral” rating and a $29.00 target price for the company. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut CenterPoint Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $32.00 to $29.00 in a research report on Friday, August 2nd. Scotiabank upped their price target on CenterPoint Energy from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price target on CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, CenterPoint Energy presently has a consensus rating of “Hold” and an average target price of $30.09.

View Our Latest Stock Analysis on CNP

CenterPoint Energy Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for CenterPoint Energy (NYSE:CNP)

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