Zacks: Analysts Expect CenterPoint Energy, Inc. (CNP) Will Announce Quarterly Sales of $2.16 Billion

Equities analysts predict that CenterPoint Energy, Inc. (NYSE:CNP) will announce sales of $2.16 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for CenterPoint Energy’s earnings. The highest sales estimate is $2.17 billion and the lowest is $2.15 billion. CenterPoint Energy reported sales of $2.14 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 0.9%. The firm is expected to announce its next quarterly earnings report on Thursday, August 2nd.

On average, analysts expect that CenterPoint Energy will report full-year sales of $9.51 billion for the current year, with estimates ranging from $8.67 billion to $10.09 billion. For the next year, analysts expect that the business will report sales of $9.62 billion per share, with estimates ranging from $8.88 billion to $10.02 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover CenterPoint Energy.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, May 4th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.11. CenterPoint Energy had a net margin of 17.59% and a return on equity of 16.22%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year.

Several equities analysts recently weighed in on the stock. SunTrust Banks set a $27.00 price target on shares of CenterPoint Energy and gave the stock a “hold” rating in a report on Monday, March 19th. Deutsche Bank upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Monday, May 7th. JPMorgan Chase & Co. increased their price target on shares of CenterPoint Energy from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, April 10th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. Finally, Credit Suisse Group upgraded shares of CenterPoint Energy from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $27.00 to $30.00 in a report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. CenterPoint Energy has a consensus rating of “Hold” and a consensus target price of $28.13.

CenterPoint Energy opened at $25.35 on Friday, according to Marketbeat. CenterPoint Energy has a 52-week low of $24.81 and a 52-week high of $30.45. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market cap of $10.88 billion, a PE ratio of 18.50, a P/E/G ratio of 3.01 and a beta of 0.53.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 17th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $1.11 annualized dividend and a yield of 4.38%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 81.02%.

In related news, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $27.13, for a total value of $108,520.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Milton Carroll sold 62,779 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $26.10, for a total transaction of $1,638,531.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,979 shares of company stock worth $2,036,020. 0.22% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. NuWave Investment Management LLC acquired a new stake in shares of CenterPoint Energy during the 4th quarter worth approximately $132,000. SeaCrest Wealth Management LLC acquired a new stake in shares of CenterPoint Energy during the 4th quarter worth approximately $135,000. Premia Global Advisors LLC acquired a new stake in shares of CenterPoint Energy during the 4th quarter worth approximately $188,000. HBK Investments L P acquired a new stake in shares of CenterPoint Energy during the 4th quarter worth approximately $227,000. Finally, Buckingham Asset Management LLC grew its stake in shares of CenterPoint Energy by 39.2% during the 4th quarter. Buckingham Asset Management LLC now owns 9,596 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 2,700 shares during the period. 79.13% of the stock is currently owned by institutional investors and hedge funds.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

Get a free copy of the Zacks research report on CenterPoint Energy (CNP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CenterPoint Energy (NYSE:CNP)

Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply