CenterPoint Energy (NYSE:CNP) Announces Earnings Results

CenterPoint Energy (NYSE:CNP) announced its quarterly earnings data on Tuesday. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04, Briefing.com reports. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. During the same period last year, the company posted $0.28 EPS. CenterPoint Energy updated its FY 2024 guidance to 1.610-1.630 EPS and its FY24 guidance to $1.62 EPS.

CenterPoint Energy Stock Performance

Shares of CNP traded down $0.58 on Wednesday, reaching $27.93. 1,782,473 shares of the stock traded hands, compared to its average volume of 4,737,624. The firm has a market cap of $17.87 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 2.57 and a beta of 0.92. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.25 and a quick ratio of 1.06. CenterPoint Energy has a 12 month low of $25.42 and a 12 month high of $31.57. The stock’s 50-day moving average price is $30.01 and its 200-day moving average price is $28.88.

Insider Activity

In other news, Director Barry T. Smitherman sold 5,670 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $29.42, for a total transaction of $166,811.40. Following the sale, the director now directly owns 21,203 shares in the company, valued at $623,792.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. KeyCorp reduced their price target on CenterPoint Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Scotiabank cut their price objective on 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. Morgan Stanley downgraded CenterPoint Energy from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $30.00 to $29.00 in a research note on Wednesday, July 17th. StockNews.com downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, BMO Capital Markets dropped their price target on CenterPoint Energy from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and an average price target of $30.50.

About CenterPoint Energy

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.