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.
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