CenterPoint Energy (NYSE:CNP) Issues FY24 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.61-1.63 for the period, compared to the consensus estimate of $1.62. CenterPoint Energy also updated its FY 2024 guidance to 1.610-1.630 EPS.

CenterPoint Energy Trading Up 0.5 %

Shares of CenterPoint Energy stock traded up $0.16 during trading hours on Thursday, hitting $29.48. The company’s stock had a trading volume of 3,221,177 shares, compared to its average volume of 4,271,361. CenterPoint Energy has a twelve month low of $25.42 and a twelve month high of $31.43. The firm has a fifty day moving average of $28.12 and a 200-day moving average of $28.05. The stock has a market cap of $18.66 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 2.57 and a beta of 0.91. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.58 and a current ratio of 1.25.

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 analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the firm earned $0.50 EPS. Research analysts forecast that CenterPoint Energy will post 1.62 EPS for the current year.

CenterPoint Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s payout ratio is currently 56.34%.

Wall Street Analysts Forecast Growth

CNP has been the subject of several recent research reports. Mizuho reaffirmed a neutral rating and set a $29.00 target price (down from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. Evercore ISI cut shares of CenterPoint Energy from an outperform rating to an in-line rating and upped their price objective for the stock from $29.00 to $30.00 in a report on Tuesday, January 23rd. KeyCorp increased their price target on shares of CenterPoint Energy from $29.00 to $31.00 and gave the company an overweight rating in a report on Thursday, January 4th. Barclays raised their price objective on shares of CenterPoint Energy from $28.00 to $29.00 and gave the stock an underweight rating in a report on Thursday, March 14th. Finally, Guggenheim lowered their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, CenterPoint Energy presently has an average rating of Hold and an average price target of $30.18.

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.