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

CenterPoint Energy (NYSE:CNP) updated its FY 2024 earnings guidance on Monday. 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 also updated its FY 2025 guidance to 1.740-1.760 EPS.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNP. Morgan Stanley boosted their price objective on CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. KeyCorp cut CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Scotiabank decreased their price target on shares of CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 20th. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $28.00 target price on shares of CenterPoint Energy in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.91.

CenterPoint Energy Stock Performance

NYSE CNP opened at $29.50 on Monday. The firm’s 50 day simple moving average is $28.51 and its 200 day simple moving average is $28.95. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 2.58 and a beta of 0.92. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 1.79. CenterPoint Energy has a 1 year low of $25.41 and a 1 year high of $31.57.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same period in the prior year, the firm posted $0.40 EPS. As a group, research analysts expect that CenterPoint Energy will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s payout ratio is currently 49.69%.

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.