What is KeyCorp’s Estimate for CNP FY2024 Earnings?

CenterPoint Energy, Inc. (NYSE:CNP) – Investment analysts at KeyCorp lifted their FY2024 earnings per share estimates for shares of CenterPoint Energy in a research report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $1.62 for the year, up from their previous forecast of $1.61. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.62 per share. KeyCorp also issued estimates for CenterPoint Energy’s Q4 2024 earnings at $0.40 EPS and FY2026 earnings at $1.88 EPS.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share.

CNP has been the subject of a number of other reports. Morgan Stanley reduced their price objective on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company lifted 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. BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. UBS Group raised CenterPoint Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $31.00 to $37.00 in a research report on Tuesday, December 3rd. Finally, StockNews.com downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.58.

CenterPoint Energy Stock Performance

Shares of CNP stock opened at $31.66 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.92 and a debt-to-equity ratio of 1.87. The firm has a fifty day simple moving average of $30.46 and a two-hundred day simple moving average of $29.34. CenterPoint Energy has a 12 month low of $25.41 and a 12 month high of $33.00. The firm has a market capitalization of $20.63 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.80 and a beta of 0.96.

Hedge Funds Weigh In On CenterPoint Energy

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of CenterPoint Energy by 2.5% in the third quarter. Geode Capital Management LLC now owns 15,083,896 shares of the utilities provider’s stock valued at $442,231,000 after buying an additional 370,790 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in CenterPoint Energy by 5.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 5,009,756 shares of the utilities provider’s stock worth $147,387,000 after acquiring an additional 247,944 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in CenterPoint Energy by 46.6% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,666,563 shares of the utilities provider’s stock valued at $144,570,000 after acquiring an additional 1,484,079 shares during the period. Thrivent Financial for Lutherans lifted its holdings in CenterPoint Energy by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 4,043,757 shares of the utilities provider’s stock valued at $125,275,000 after purchasing an additional 53,655 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in CenterPoint Energy by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,956,432 shares of the utilities provider’s stock worth $116,398,000 after purchasing an additional 110,905 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.84 annualized dividend and a dividend yield of 2.65%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s dividend payout ratio (DPR) is presently 55.63%.

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.