CenterPoint Energy, Inc. (NYSE:CNP – Free Report) – Equities research analysts at KeyCorp cut their FY2024 earnings per share (EPS) estimates for CenterPoint Energy in a research note issued on Monday, October 21st. KeyCorp analyst S. Karp now expects that the utilities provider will earn $1.61 per share for the year, down from their previous estimate of $1.62. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.62 per share. KeyCorp also issued estimates for CenterPoint Energy’s FY2026 earnings at $1.86 EPS.
A number of other research analysts have also weighed in on CNP. Wells Fargo & Company lifted their price objective on shares of CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Scotiabank decreased their price objective on CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 20th. JPMorgan Chase & Co. downgraded CenterPoint Energy from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $32.00 to $29.00 in a research note on Friday, August 2nd. Morgan Stanley upped their price target on CenterPoint Energy from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price target on shares of CenterPoint Energy in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.91.
CenterPoint Energy Stock Performance
NYSE CNP opened at $29.49 on Thursday. The firm has a market cap of $18.87 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 2.56 and a beta of 0.92. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 1.79. The company’s 50 day moving average is $28.44 and its 200-day moving average is $28.93. CenterPoint Energy has a 12-month low of $25.41 and a 12-month high of $31.57.
CenterPoint Energy (NYSE:CNP – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same quarter in the prior year, the company earned $0.28 EPS.
CenterPoint Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.21 dividend. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.85%. CenterPoint Energy’s dividend payout ratio is presently 59.15%.
Institutional Trading of CenterPoint Energy
Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in CenterPoint Energy by 38.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,602,621 shares of the utilities provider’s stock valued at $302,070,000 after purchasing an additional 2,961,464 shares in the last quarter. Railway Pension Investments Ltd bought a new position in shares of CenterPoint Energy during the 2nd quarter valued at about $63,758,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of CenterPoint Energy by 46.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,666,563 shares of the utilities provider’s stock valued at $144,570,000 after buying an additional 1,484,079 shares in the last quarter. Maple Brown Abbott Ltd bought a new stake in CenterPoint Energy in the 2nd quarter worth approximately $42,548,000. Finally, Merewether Investment Management LP purchased a new stake in CenterPoint Energy in the second quarter worth approximately $31,188,000. 91.77% of the stock is owned by institutional investors.
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.
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