CenterPoint Energy (NYSE:CNP) Issues FY24 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.61-1.63 for the period, compared to the consensus EPS estimate of $1.62. CenterPoint Energy also updated its FY 2024 guidance to 1.610-1.630 EPS.

CenterPoint Energy Trading Up 0.1 %

NYSE:CNP traded up $0.04 during trading hours on Tuesday, hitting $29.26. The company had a trading volume of 3,285,035 shares, compared to its average volume of 4,212,195. CenterPoint Energy has a 52 week low of $25.42 and a 52 week high of $31.43. The company has a market capitalization of $18.52 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.54 and a beta of 0.92. The stock has a 50-day moving average price of $28.07 and a 200 day moving average price of $28.03. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.78 and a quick ratio of 0.58.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same quarter last year, the firm earned $0.50 EPS. On average, equities research analysts predict that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 58.82%.

Analyst Ratings Changes

Several research firms recently weighed in on CNP. Mizuho restated a neutral rating and issued a $29.00 price target (down previously from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. Evercore ISI cut shares of CenterPoint Energy from an outperform rating to an in-line rating and lifted their target price for the stock from $29.00 to $30.00 in a report on Tuesday, January 23rd. Guggenheim cut their price target on shares of CenterPoint Energy from $33.00 to $32.00 and set a buy rating on the stock in a report on Wednesday, February 21st. Barclays upped their price target on CenterPoint Energy from $28.00 to $29.00 and gave the stock an underweight rating in a research report on Thursday, March 14th. Finally, KeyCorp boosted their price target on shares of CenterPoint Energy from $29.00 to $31.00 and gave the stock an overweight rating in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $30.18.

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.