CenterPoint Energy (NYSE:CNP) Releases FY 2024 Earnings Guidance

CenterPoint Energy (NYSE:CNP) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.610-1.630 for the period, compared to the consensus estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY24 guidance to $1.61-1.63 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CNP. KeyCorp increased 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, January 4th. Mizuho reaffirmed a neutral rating and set a $29.00 price objective (down previously from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. Guggenheim lowered their target price on CenterPoint Energy from $33.00 to $32.00 and set a buy rating for the company in a report on Wednesday, February 21st. Barclays lifted their price target on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an underweight rating in a research report on Thursday, March 14th. Finally, Scotiabank decreased their price objective on shares of CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, CenterPoint Energy has a consensus rating of Hold and a consensus target price of $30.18.

CenterPoint Energy Stock Up 0.4 %

CenterPoint Energy stock traded up $0.11 during trading hours on Thursday, hitting $29.43. The stock had a trading volume of 2,560,243 shares, compared to its average volume of 4,262,997. The company has a quick ratio of 0.58, a current ratio of 1.25 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $18.63 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.57 and a beta of 0.91. CenterPoint Energy has a 12-month low of $25.42 and a 12-month high of $31.43. The stock’s 50-day moving average price is $28.12 and its 200-day moving average price is $28.05.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.82 billion. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. During the same period in the previous year, the business posted $0.50 earnings per share. Equities research analysts anticipate that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.80 annualized dividend and a yield of 2.72%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 56.34%.

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.