Brokerages Anticipate CenterPoint Energy, Inc. (CNP) Will Announce Quarterly Sales of $3.84 Billion

Wall Street brokerages predict that CenterPoint Energy, Inc. (NYSE:CNP) will announce sales of $3.84 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for CenterPoint Energy’s earnings, with estimates ranging from $3.71 billion to $3.96 billion. CenterPoint Energy posted sales of $3.16 billion in the same quarter last year, which suggests a positive year over year growth rate of 21.5%. The business is expected to announce its next earnings results before the market opens on Thursday, May 9th.

According to Zacks, analysts expect that CenterPoint Energy will report full year sales of $12.14 billion for the current fiscal year, with estimates ranging from $9.84 billion to $13.70 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $12.39 billion, with estimates ranging from $9.83 billion to $14.05 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CenterPoint Energy.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.36. CenterPoint Energy had a return on equity of 14.16% and a net margin of 3.48%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the firm posted $0.33 EPS.

A number of brokerages have commented on CNP. Goldman Sachs Group began coverage on CenterPoint Energy in a research report on Monday, February 25th. They set a “buy” rating and a $34.00 price target for the company. Guggenheim raised CenterPoint Energy from a “neutral” rating to a “buy” rating in a research report on Monday, January 7th. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a research report on Monday, December 24th. Finally, ValuEngine upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $31.60.

In other news, insider Milton Carroll sold 40,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $30.02, for a total transaction of $1,200,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $30.72, for a total value of $122,880.00. The disclosure for this sale can be found here. In the last three months, insiders sold 132,000 shares of company stock worth $3,983,610. 0.24% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC increased its position in shares of CenterPoint Energy by 174.6% during the first quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 604 shares during the period. Financial Architects Inc purchased a new stake in shares of CenterPoint Energy during the fourth quarter worth $28,000. PRW Wealth Management LLC purchased a new stake in shares of CenterPoint Energy during the fourth quarter worth $29,000. Claybrook Capital LLC purchased a new stake in shares of CenterPoint Energy during the fourth quarter worth $31,000. Finally, Sound Income Strategies LLC increased its position in shares of CenterPoint Energy by 793.7% during the fourth quarter. Sound Income Strategies LLC now owns 1,126 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,000 shares during the period. 81.41% of the stock is currently owned by institutional investors and hedge funds.

CNP traded down $0.35 on Thursday, reaching $30.15. 3,058,045 shares of the stock were exchanged, compared to its average volume of 4,740,489. CenterPoint Energy has a fifty-two week low of $24.81 and a fifty-two week high of $31.42. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.01 and a current ratio of 2.13. The stock has a market cap of $15.12 billion, a P/E ratio of 18.84, a P/E/G ratio of 3.56 and a beta of 0.46.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

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