CenterPoint Energy (NYSE:CNP) Releases FY 2022 Earnings Guidance

CenterPoint Energy (NYSE:CNP – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.37-$1.39 for the period, compared to the consensus estimate of $1.37. The company issued revenue guidance of -. CenterPoint Energy also updated its FY22 guidance to $1.37-1.39 EPS.

CenterPoint Energy Price Performance

CNP stock traded up $0.08 during midday trading on Friday, reaching $31.47. 2,872,578 shares of the company’s stock traded hands, compared to its average volume of 4,785,593. The company has a 50-day simple moving average of $29.95 and a two-hundred day simple moving average of $29.69. CenterPoint Energy has a 1-year low of $24.33 and a 1-year high of $33.00. The company has a market cap of $19.81 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 5.90 and a beta of 0.87. The company has a quick ratio of 0.80, a current ratio of 1.03 and a debt-to-equity ratio of 1.43.

CenterPoint Energy (NYSE:CNP – Get Rating) last released its earnings results on Tuesday, August 2nd. The utilities provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. CenterPoint Energy had a return on equity of 10.92% and a net margin of 18.16%. During the same period in the previous year, the company posted $0.36 earnings per share. On average, analysts anticipate that CenterPoint Energy will post 1.38 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be given a $0.18 dividend. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, August 17th. CenterPoint Energy’s dividend payout ratio (DPR) is currently 27.98%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CNP. Morgan Stanley raised their price target on CenterPoint Energy from $29.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, July 21st. StockNews.com raised CenterPoint Energy from a sell rating to a hold rating in a research report on Tuesday, May 10th. Barclays lowered their price target on CenterPoint Energy from $36.00 to $33.00 and set an overweight rating on the stock in a research report on Monday, July 18th. Wells Fargo & Company boosted their price target on CenterPoint Energy from $31.00 to $36.00 and gave the stock an overweight rating in a research report on Tuesday, April 19th. Finally, Credit Suisse Group began coverage on CenterPoint Energy in a research report on Monday, April 25th. They set an outperform rating and a $34.00 price target on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, CenterPoint Energy currently has a consensus rating of Moderate Buy and an average target price of $31.25.

Institutional Investors Weigh In On CenterPoint Energy

Several institutional investors have recently made changes to their positions in the stock. First Republic Investment Management Inc. increased its holdings in shares of CenterPoint Energy by 2.2% during the first quarter. First Republic Investment Management Inc. now owns 19,444 shares of the utilities provider’s stock worth $596,000 after buying an additional 427 shares in the last quarter. MidWestOne Financial Group Inc. grew its holdings in CenterPoint Energy by 3.6% during the 1st quarter. MidWestOne Financial Group Inc. now owns 13,205 shares of the utilities provider’s stock worth $405,000 after acquiring an additional 465 shares during the period. Eaton Vance Management boosted its position in shares of CenterPoint Energy by 1.7% during the 1st quarter. Eaton Vance Management now owns 33,576 shares of the utilities provider’s stock worth $1,030,000 after purchasing an additional 546 shares in the last quarter. Covestor Ltd boosted its position in shares of CenterPoint Energy by 176.7% during the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 569 shares in the last quarter. Finally, Linscomb & Williams Inc. boosted its position in shares of CenterPoint Energy by 5.7% during the 1st quarter. Linscomb & Williams Inc. now owns 17,585 shares of the utilities provider’s stock worth $539,000 after purchasing an additional 950 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

About CenterPoint Energy

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CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.