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

CenterPoint Energy (NYSE:CNP) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 1.610-1.630 for the period, compared to the consensus EPS 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 Upgrades and Downgrades

Several analysts have recently commented on CNP shares. Wells Fargo & Company raised their target price on CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Scotiabank decreased their price objective on CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. Morgan Stanley upped their target price on CenterPoint Energy from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets reaffirmed 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.91.

CenterPoint Energy Price Performance

Shares of CNP opened at $29.31 on Monday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.99 and a current ratio of 1.20. The firm has a market cap of $18.82 billion, a PE ratio of 18.20, a PEG ratio of 2.58 and a beta of 0.92. CenterPoint Energy has a twelve month low of $25.41 and a twelve month high of $31.57. The firm’s 50 day moving average price is $28.51 and its 200 day moving average price is $28.95.

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

CenterPoint Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.21 per share. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.87%. CenterPoint Energy’s dividend 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.