CenterPoint Energy, Inc. (NYSE:CNP) Expected to Post Quarterly Sales of $1.63 Billion

Equities analysts expect that CenterPoint Energy, Inc. (NYSE:CNP) will post $1.63 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for CenterPoint Energy’s earnings. The highest sales estimate is $1.66 billion and the lowest is $1.60 billion. CenterPoint Energy reported sales of $1.58 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The firm is expected to issue its next earnings report on Thursday, August 5th.

According to Zacks, analysts expect that CenterPoint Energy will report full year sales of $7.65 billion for the current year, with estimates ranging from $7.45 billion to $7.78 billion. For the next fiscal year, analysts expect that the company will post sales of $7.87 billion, with estimates ranging from $7.62 billion to $8.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CenterPoint Energy.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, May 6th. The utilities provider reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.09. CenterPoint Energy had a net margin of 10.12% and a return on equity of 16.59%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the business posted $0.65 EPS.

CNP has been the subject of several recent analyst reports. Evercore ISI downgraded shares of CenterPoint Energy from an “outperform” rating to an “in-line” rating in a report on Friday, February 26th. Barclays upped their price objective on shares of CenterPoint Energy from $25.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 25th. Credit Suisse Group upped their price objective on shares of CenterPoint Energy from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, April 16th. Mizuho upped their price objective on shares of CenterPoint Energy from $25.50 to $27.00 and gave the stock a “buy” rating in a report on Thursday, May 13th. They noted that the move was a valuation call. Finally, TheStreet raised shares of CenterPoint Energy from a “c” rating to a “b-” rating in a report on Thursday, May 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. CenterPoint Energy presently has an average rating of “Hold” and a consensus price target of $24.90.

Shares of NYSE CNP traded down $0.07 during trading hours on Tuesday, hitting $25.88. 69,028 shares of the stock were exchanged, compared to its average volume of 5,206,087. The company has a quick ratio of 0.66, a current ratio of 0.74 and a debt-to-equity ratio of 2.21. The business’s 50 day moving average is $24.42. The stock has a market cap of $15.02 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 4.19 and a beta of 0.98. CenterPoint Energy has a one year low of $17.34 and a one year high of $26.03.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Thursday, May 20th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Wednesday, May 19th. CenterPoint Energy’s payout ratio is 45.71%.

In other news, CFO Jason P. Wells bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 11th. The stock was acquired at an average price of $24.06 per share, for a total transaction of $240,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David J. Lesar bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 13th. The shares were purchased at an average price of $23.58 per share, with a total value of $1,179,000.00. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. MAI Capital Management increased its position in shares of CenterPoint Energy by 3.5% during the 1st quarter. MAI Capital Management now owns 12,246 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 412 shares in the last quarter. Cadence Bank NA increased its position in shares of CenterPoint Energy by 2.9% during the 1st quarter. Cadence Bank NA now owns 16,083 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 448 shares in the last quarter. Eudaimonia Partners LLC increased its position in shares of CenterPoint Energy by 13.5% during the 1st quarter. Eudaimonia Partners LLC now owns 3,781 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 450 shares in the last quarter. Synovus Financial Corp increased its position in CenterPoint Energy by 3.4% in the 4th quarter. Synovus Financial Corp now owns 15,305 shares of the utilities provider’s stock valued at $331,000 after acquiring an additional 508 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in CenterPoint Energy by 52.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,569 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 541 shares in the last quarter. Institutional investors and hedge funds own 89.02% of the company’s stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric, Natural Gas, and Midstream Investments segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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Earnings History and Estimates for CenterPoint Energy (NYSE:CNP)

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