CenterPoint Energy, Inc. (NYSE:CNP – Free Report) – Equities research analysts at Zacks Research cut their Q3 2024 EPS estimates for shares of CenterPoint Energy in a research report issued to clients and investors on Monday, September 30th. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings per share of $0.47 for the quarter, down from their prior estimate of $0.48. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.62 per share. Zacks Research also issued estimates for CenterPoint Energy’s Q4 2024 earnings at $0.24 EPS.
CenterPoint Energy (NYSE:CNP – Get Free Report) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $0.28 earnings per share.
View Our Latest Stock Report on CenterPoint Energy
CenterPoint Energy Stock Performance
Shares of CNP stock opened at $30.07 on Thursday. CenterPoint Energy has a 52-week low of $25.41 and a 52-week high of $31.57. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 1.79. The stock has a market cap of $19.24 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.51 and a beta of 0.92. The business has a 50-day simple moving average of $27.54 and a 200-day simple moving average of $28.74.
CenterPoint Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.21 per share. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 21st. CenterPoint Energy’s payout ratio is 59.15%.
Hedge Funds Weigh In On CenterPoint Energy
Several hedge funds and other institutional investors have recently made changes to their positions in CNP. Crewe Advisors LLC acquired a new position in CenterPoint Energy in the 1st quarter valued at $25,000. Rothschild Investment LLC purchased a new stake in shares of CenterPoint Energy during the second quarter worth $33,000. Olistico Wealth LLC acquired a new stake in shares of CenterPoint Energy in the second quarter valued at about $33,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of CenterPoint Energy in the second quarter worth about $36,000. Finally, FinTrust Capital Advisors LLC boosted its position in CenterPoint Energy by 60.3% during the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 91.77% 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 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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