CenterPoint Energy (NYSE:CNP) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

CenterPoint Energy (NYSE:CNP) posted its earnings results on Tuesday. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02, RTT News reports. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. CenterPoint Energy updated its FY 2024 guidance to 1.610-1.630 EPS and its FY24 guidance to $1.61-1.63 EPS.

CenterPoint Energy Stock Down 0.1 %

Shares of CNP opened at $29.29 on Thursday. The company has a market capitalization of $18.54 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.57 and a beta of 0.91. The business’s 50 day moving average is $28.12 and its 200 day moving average is $28.05. The company has a current ratio of 1.25, a quick ratio of 0.58 and a debt-to-equity ratio of 1.81. CenterPoint Energy has a 12-month low of $25.42 and a 12-month high of $31.43.

CenterPoint Energy Announces Dividend

The firm also recently announced 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. This represents a $0.80 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.34%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CNP. KeyCorp boosted their target price on CenterPoint Energy from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Barclays lifted their price target on CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a research report on Thursday, March 14th. Guggenheim dropped their price target on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Evercore ISI downgraded CenterPoint Energy from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $29.00 to $30.00 in a report on Tuesday, January 23rd. Finally, Scotiabank dropped their target price on CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CenterPoint Energy has a consensus rating of “Hold” and a consensus price target 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.