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

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Guggenheim dropped their target price on CenterPoint Energy from $33.00 to $32.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Evercore ISI downgraded CenterPoint Energy from an outperform rating to an in-line rating and raised their price objective for the stock from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Mizuho restated a neutral rating and set a $29.00 price objective (down from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Scotiabank lowered their price objective on CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating for the company in a research report on Monday, April 22nd. Finally, KeyCorp raised their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $30.18.

CenterPoint Energy Trading Up 1.3 %

Shares of CNP stock opened at $29.22 on Tuesday. The company has a market cap of $18.50 billion, a P/E ratio of 21.49, a PEG ratio of 2.54 and a beta of 0.92. The stock has a 50 day simple moving average of $28.07 and a two-hundred day simple moving average of $28.03. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. CenterPoint Energy has a fifty-two week low of $25.42 and a fifty-two week high of $31.43.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.83 billion. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same period in the previous year, the company posted $0.28 earnings per share. Research analysts forecast that CenterPoint Energy will post 1.62 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.74%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 58.82%.

About CenterPoint Energy

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.