CenterPoint Energy, Inc. (NYSE:CNP) Expected to Post Q3 2024 Earnings of $0.47 Per Share

CenterPoint Energy, Inc. (NYSE:CNP) – 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) 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.

Several other research analysts have also recently weighed in on CNP. Scotiabank reduced their price target on CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. JPMorgan Chase & Co. cut shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $29.00 in a research note on Friday, August 2nd. Bank of America started coverage on shares of CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 price target on the stock. Morgan Stanley lifted their price objective on shares of CenterPoint Energy from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $28.00 target price on shares of CenterPoint Energy in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.55.

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.