CenterPoint Energy (CNP) to Release Quarterly Earnings on Monday

CenterPoint Energy (NYSE:CNP) will issue its quarterly earnings data before the market opens on Monday, October 28th. Analysts expect the company to announce earnings of $0.45 per share for the quarter. CenterPoint Energy has set its FY 2024 guidance at 1.610-1.630 EPS and its FY24 guidance at $1.62 EPS.Parties interested in registering for the company’s conference call can do so using this link.

CenterPoint Energy (NYSE:CNP) last announced its quarterly 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 return on equity of 10.81% and a net margin of 12.28%. 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 company posted $0.28 earnings per share. On average, analysts expect CenterPoint Energy to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CenterPoint Energy Trading Down 0.6 %

Shares of NYSE:CNP opened at $29.31 on Friday. CenterPoint Energy has a 12-month low of $25.41 and a 12-month high of $31.57. The company has a market capitalization of $18.82 billion, a PE ratio of 18.20, a PEG ratio of 2.58 and a beta of 0.92. The business has a 50 day moving average of $28.51 and a two-hundred day moving average of $28.94. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 1.79.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 21st. 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 2.87%. CenterPoint Energy’s payout ratio is 49.69%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. KeyCorp cut CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Scotiabank cut their price objective 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. Wells Fargo & Company boosted their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley boosted their price objective on CenterPoint Energy from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Two equities research 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’s stock. According to data from MarketBeat, CenterPoint Energy has an average rating of “Hold” and a consensus target price of $29.91.

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.