CenterPoint Energy, Inc. (NYSE:CNP) released its earnings results on Friday. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39, Briefing.com reports. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. CenterPoint Energy updated its FY17 guidance to $1.25-1.33 EPS.
Shares of CenterPoint Energy (CNP) traded down $0.15 during trading hours on Friday, hitting $29.59. The stock had a trading volume of 3,003,782 shares, compared to its average volume of 2,581,365. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 2.13. CenterPoint Energy has a 1-year low of $22.32 and a 1-year high of $30.45. The stock has a market cap of $12,754.00, a PE ratio of 22.59, a P/E/G ratio of 4.08 and a beta of 0.64.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Wednesday, November 15th. CenterPoint Energy’s payout ratio is currently 78.10%.
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In other news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $29.61, for a total transaction of $29,610.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 3,000 shares of company stock valued at $88,300 in the last quarter. Company insiders own 0.20% of the company’s stock.
A number of equities research analysts recently issued reports on CNP shares. BidaskClub raised shares of CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. J P Morgan Chase & Co set a $30.00 target price on shares of CenterPoint Energy and gave the stock a “hold” rating in a research note on Thursday, October 12th. SunTrust Banks, Inc. reissued a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a research report on Monday, October 2nd. Bank of America Corporation initiated coverage on shares of CenterPoint Energy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a research report on Monday, September 11th. Nine analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. CenterPoint Energy has a consensus rating of “Hold” and an average price target of $28.75.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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