CenterPoint Energy (NYSE:CNP) Issues FY19 Earnings Guidance

CenterPoint Energy (NYSE:CNP) updated its FY19 earnings guidance on Wednesday. The company provided EPS guidance of $1.60-1.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.64. CenterPoint Energy also updated its FY 2019 guidance to $1.60-1.70 EPS.

Several research firms recently commented on CNP. JPMorgan Chase & Co. reduced their price objective on CenterPoint Energy from $33.00 to $32.00 and set an overweight rating for the company in a report on Wednesday, May 15th. KeyCorp began coverage on CenterPoint Energy in a report on Tuesday, June 4th. They issued a sector weight rating for the company. Goldman Sachs Group lifted their price objective on CenterPoint Energy from $31.00 to $32.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Mizuho began coverage on CenterPoint Energy in a report on Monday, June 3rd. They issued a buy rating and a $31.00 price objective for the company. Finally, Credit Suisse Group set a $33.00 price objective on CenterPoint Energy and gave the stock a buy rating in a report on Monday, April 22nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. CenterPoint Energy currently has an average rating of Buy and a consensus price target of $31.85.

NYSE:CNP traded down $0.21 on Friday, hitting $27.62. The stock had a trading volume of 3,529,251 shares, compared to its average volume of 4,391,761. The stock has a market cap of $14.09 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 3.26 and a beta of 0.46. The company has a current ratio of 1.11, a quick ratio of 0.97 and a debt-to-equity ratio of 1.71. The business has a 50-day moving average price of $28.94. CenterPoint Energy has a 52-week low of $26.74 and a 52-week high of $31.42.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.79 billion. CenterPoint Energy had a return on equity of 12.67% and a net margin of 5.55%. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. Equities analysts forecast that CenterPoint Energy will post 1.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th will be given a $0.2875 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.15 annualized dividend and a yield of 4.16%. CenterPoint Energy’s payout ratio is 71.88%.

In other CenterPoint Energy news, Chairman Milton Carroll sold 12,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $29.76, for a total value of $357,120.00. Following the transaction, the chairman now directly owns 98,301 shares of the company’s stock, valued at $2,925,437.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott M. Prochazka sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.40, for a total value of $198,800.00. The disclosure for this sale can be found here. Insiders sold 52,780 shares of company stock worth $1,545,396 over the last three months. Insiders own 0.24% of the company’s stock.

CenterPoint Energy Company Profile

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

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