CenterPoint Energy (NYSE:CNP) Updates FY 2024 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 1.610-1.630 for the period, compared to the consensus earnings per share estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY 2025 guidance to 1.740-1.760 EPS.

CenterPoint Energy Price Performance

CNP opened at $29.43 on Wednesday. CenterPoint Energy has a 12-month low of $25.41 and a 12-month high of $31.57. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 1.79. The business’s fifty day simple moving average is $28.66 and its 200-day simple moving average is $28.98. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 2.58 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company earned $0.40 EPS. On average, equities research analysts anticipate 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. Investors of record on Thursday, November 21st will be paid a dividend of $0.21 per share. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, November 21st. CenterPoint Energy’s dividend payout ratio is 59.15%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Bank of America started coverage on CenterPoint Energy in a research note on Thursday, September 12th. They set a “neutral” rating and a $29.00 price objective for the company. Wells Fargo & Company increased their price target on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Scotiabank increased their price target on CenterPoint Energy from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Morgan Stanley increased their price target on CenterPoint Energy from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.09.

CenterPoint Energy Company Profile

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.