CenterPoint Energy (NYSE:CNP) Posts Earnings Results, Beats Expectations By $0.04 EPS

CenterPoint Energy (NYSE:CNP) posted its quarterly earnings data on Tuesday. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04, Briefing.com reports. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $0.28 EPS. CenterPoint Energy updated its FY 2024 guidance to 1.610-1.630 EPS and its FY24 guidance to $1.62 EPS.

CenterPoint Energy Price Performance

CNP stock opened at $27.76 on Thursday. CenterPoint Energy has a 1 year low of $25.42 and a 1 year high of $31.57. The company has a market cap of $17.76 billion, a P/E ratio of 19.55, a PEG ratio of 2.51 and a beta of 0.92. The firm has a 50-day moving average of $29.97 and a 200 day moving average of $28.87. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 1.06.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Scotiabank lowered their price target on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. BMO Capital Markets lowered their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley downgraded shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $30.00 to $29.00 in a research note on Wednesday, July 17th. Finally, KeyCorp lowered their price target on shares of CenterPoint Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.50.

Insider Buying and Selling

In related news, Director Barry T. Smitherman sold 5,670 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $29.42, for a total value of $166,811.40. Following the completion of the transaction, the director now directly owns 21,203 shares of the company’s stock, valued at $623,792.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

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.