CenterPoint Energy (NYSE:CNP – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.610-1.630 for the period, compared to the consensus earnings per share estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY24 guidance to $1.62 EPS.
Analysts Set New Price Targets
CNP has been the topic of several recent research reports. Scotiabank cut their target price on CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a report on Monday, April 22nd. BMO Capital Markets decreased 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. Morgan Stanley downgraded CenterPoint Energy from an overweight rating to an equal weight rating and reduced their price objective for the stock from $30.00 to $29.00 in a report on Wednesday, July 17th. KeyCorp cut their price target on CenterPoint Energy from $33.00 to $31.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Finally, StockNews.com cut shares of CenterPoint Energy from a hold rating to a sell rating in a research report on Saturday, July 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $30.50.
Read Our Latest Stock Report on CNP
CenterPoint Energy Stock Performance
CenterPoint Energy (NYSE:CNP – Get Free Report) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the company posted $0.28 EPS. Equities research analysts expect that CenterPoint Energy will post 1.62 EPS for the current year.
Insider Transactions at CenterPoint Energy
In other CenterPoint Energy news, Director Barry T. Smitherman sold 5,670 shares of CenterPoint Energy stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $29.42, for a total transaction of $166,811.40. Following the transaction, the director now owns 21,203 shares of the company’s stock, valued at $623,792.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% 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 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.
See Also
- Five stocks we like better than CenterPoint Energy
- Ride Out The Recession With These Dividend KingsĀ
- Joby Aviation Stock: The Case for Upside Just Got Stronger
- Do ETFs Pay Dividends? What You Need to Know
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- Where Do I Find 52-Week Highs and Lows?
- 5 Aggressive Growth Stocks for Long-Term Investors
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.