Brokerages forecast that CenterPoint Energy, Inc. (NYSE:CNP) will announce $0.33 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for CenterPoint Energy’s earnings, with estimates ranging from $0.29 to $0.34. CenterPoint Energy posted earnings per share of $0.30 in the same quarter last year, which would suggest a positive year over year growth rate of 10%. The company is scheduled to issue its next earnings report before the market opens on Wednesday, August 7th.
According to Zacks, analysts expect that CenterPoint Energy will report full year earnings of $1.64 per share for the current financial year, with EPS estimates ranging from $1.62 to $1.66. For the next fiscal year, analysts forecast that the business will post earnings of $1.80 per share, with EPS estimates ranging from $1.75 to $1.86. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover CenterPoint Energy.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.06). CenterPoint Energy had a net margin of 3.39% and a return on equity of 13.31%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis.
A number of brokerages have commented on CNP. Morgan Stanley set a $18.00 target price on shares of PG&E and gave the company a “hold” rating in a report on Friday, June 14th. KeyCorp began coverage on shares of Southern in a report on Tuesday, June 4th. They set a “sector weight” rating for the company. Bank of America set a $10.00 target price on shares of HEXO and gave the company a “buy” rating in a report on Thursday, June 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Anglo American in a report on Wednesday, May 15th. Finally, Goldman Sachs Group lowered shares of LATAM Airlines Group from a “neutral” rating to a “sell” rating and upped their price target for the stock from $9.20 to $9.30 in a research report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. CenterPoint Energy currently has a consensus rating of “Buy” and a consensus price target of $31.69.
In other CenterPoint Energy news, insider Milton Carroll sold 19,780 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $29.70, for a total transaction of $587,466.00. Following the completion of the transaction, the insider now owns 98,301 shares in the company, valued at $2,919,539.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $28.40, for a total transaction of $198,800.00. The disclosure for this sale can be found here. Insiders have sold 52,780 shares of company stock valued at $1,558,486 in the last quarter. 0.24% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in CNP. Norges Bank purchased a new stake in shares of CenterPoint Energy in the fourth quarter valued at $146,903,000. FMR LLC raised its stake in shares of CenterPoint Energy by 114.6% in the fourth quarter. FMR LLC now owns 6,472,243 shares of the utilities provider’s stock valued at $182,711,000 after acquiring an additional 3,456,131 shares during the period. Unigestion Holding SA raised its stake in shares of CenterPoint Energy by 331.7% in the second quarter. Unigestion Holding SA now owns 3,052,431 shares of the utilities provider’s stock valued at $87,391,000 after acquiring an additional 2,345,348 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in shares of CenterPoint Energy in the first quarter valued at $69,287,000. Finally, Zimmer Partners LP purchased a new stake in shares of CenterPoint Energy in the fourth quarter valued at $56,120,000. Institutional investors and hedge funds own 78.25% of the company’s stock.
CNP stock traded up $0.06 during midday trading on Wednesday, reaching $28.93. 131,875 shares of the company’s stock traded hands, compared to its average volume of 3,968,129. CenterPoint Energy has a 52-week low of $26.74 and a 52-week high of $31.42. The company has a market cap of $14.53 billion, a PE ratio of 18.08, a P/E/G ratio of 3.35 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 2.12. The stock’s 50-day moving average is $29.12.
About CenterPoint Energy
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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