CenterPoint Energy (NYSE:CNP) Issues FY24 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.61-1.63 for the period, compared to the consensus earnings per share estimate of $1.62. CenterPoint Energy also updated its FY 2024 guidance to 1.610-1.630 EPS.

CenterPoint Energy Trading Up 0.5 %

Shares of CNP stock traded up $0.16 on Thursday, reaching $29.48. 3,221,177 shares of the stock were exchanged, compared to its average volume of 4,271,361. The firm has a 50 day moving average of $28.12 and a two-hundred day moving average of $28.05. The company has a quick ratio of 0.58, a current ratio of 1.25 and a debt-to-equity ratio of 1.81. CenterPoint Energy has a 1-year low of $25.42 and a 1-year high of $31.43. The stock has a market cap of $18.66 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.57 and a beta of 0.91.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.82 billion. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. During the same quarter last year, the company posted $0.50 earnings per share. On average, research analysts anticipate that CenterPoint Energy will post 1.62 EPS for the current year.

CenterPoint Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.71%. CenterPoint Energy’s dividend payout ratio is presently 56.34%.

Wall Street Analyst Weigh In

CNP has been the subject of a number of research analyst reports. Evercore ISI downgraded shares of CenterPoint Energy from an outperform rating to an in-line rating and increased their target price for the stock from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Mizuho restated a neutral rating and set a $29.00 price objective (down previously from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. Barclays upped their target price on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an underweight rating in a research note on Thursday, March 14th. Scotiabank decreased their price objective on shares of CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. Finally, KeyCorp increased their price objective on shares of CenterPoint Energy from $29.00 to $31.00 and gave the company an overweight rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average 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.