KeyCorp Research Analysts Reduce Earnings Estimates for CNP

CenterPoint Energy, Inc. (NYSE:CNP) – Stock analysts at KeyCorp dropped their FY2024 earnings per share estimates for shares of CenterPoint Energy in a research report issued on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $1.61 for the year, down from their prior forecast of $1.62. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.62 per share. KeyCorp also issued estimates for CenterPoint Energy’s FY2026 earnings at $1.86 EPS.

Several other research analysts also recently weighed in on the stock. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Morgan Stanley raised their target price on shares of CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Bank of America initiated coverage on shares of CenterPoint Energy in a research note on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price on the stock. Wells Fargo & Company raised their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets restated a “market perform” rating and set a $28.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Based on 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 $29.73 on Thursday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 0.99. The firm’s fifty day moving average price is $28.37 and its 200 day moving average price is $28.93. CenterPoint Energy has a 1-year low of $25.41 and a 1-year high of $31.57. The firm has a market cap of $19.02 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 2.56 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. During the same period in the prior year, the firm posted $0.28 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new position in shares of CenterPoint Energy in the first quarter valued at approximately $25,000. Olistico Wealth LLC bought a new stake in CenterPoint Energy in the second quarter valued at approximately $33,000. Rothschild Investment LLC acquired a new stake in shares of CenterPoint Energy in the second quarter valued at approximately $33,000. FinTrust Capital Advisors LLC lifted its position in shares of CenterPoint Energy by 60.3% in the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after buying an additional 452 shares during the last quarter. Finally, Tobam bought a new position in shares of CenterPoint Energy during the 1st quarter worth approximately $35,000. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a yield of 2.83%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s payout ratio is currently 59.15%.

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.