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

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

CenterPoint Energy Trading Up 1.3 %

Shares of CenterPoint Energy stock opened at $29.22 on Tuesday. CenterPoint Energy has a 1 year low of $25.42 and a 1 year high of $31.43. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.82. The company’s fifty day simple moving average is $28.07 and its 200-day simple moving average is $28.03. The company has a market cap of $18.50 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.54 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. CenterPoint Energy had a net margin of 10.55% and a return on equity of 10.44%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the company earned $0.28 earnings per share. As a group, sell-side analysts expect that CenterPoint Energy will post 1.62 EPS for the current year.

CenterPoint Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.80 annualized dividend and a yield of 2.74%. CenterPoint Energy’s dividend payout ratio is currently 58.82%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CNP shares. Scotiabank decreased their target price on CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating for the company in a research report on Monday, April 22nd. Mizuho restated a neutral rating and set a $29.00 target price (down from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Barclays boosted their target price on CenterPoint Energy from $28.00 to $29.00 and gave the stock an underweight rating in a research report on Thursday, March 14th. Guggenheim decreased their target price on CenterPoint Energy from $33.00 to $32.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Finally, KeyCorp boosted their target price on CenterPoint Energy from $29.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $30.18.

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.