CenterPoint Energy (NYSE:CNP) Updates FY24 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY24 earnings guidance on Tuesday morning. 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 Price Performance

NYSE CNP traded up $0.04 on Tuesday, reaching $29.26. 3,285,035 shares of the company’s stock traded hands, compared to its average volume of 4,212,195. The stock has a 50-day simple moving average of $28.07 and a 200 day simple moving average of $28.03. 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 has a 12 month low of $25.42 and a 12 month high of $31.43. The stock has a market cap of $18.52 billion, a PE ratio of 21.49, a P/E/G ratio of 2.54 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same period in the previous year, the company posted $0.50 earnings per share. As a group, research analysts predict that CenterPoint Energy will post 1.62 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.73%. CenterPoint Energy’s dividend payout ratio is currently 58.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Evercore ISI cut shares of CenterPoint Energy from an outperform rating to an in-line rating and upped their price target for the stock from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Scotiabank cut their price target 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. Mizuho restated a neutral rating and set a $29.00 price objective (down from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. Guggenheim decreased their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Finally, KeyCorp increased their price target on CenterPoint Energy from $29.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average 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.