CenterPoint Energy (NYSE:CNP) Updates FY24 Earnings Guidance

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

CenterPoint Energy Stock Down 0.6 %

Shares of NYSE CNP opened at $29.19 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. CenterPoint Energy has a 12 month low of $25.42 and a 12 month high of $31.57. The firm has a market capitalization of $18.67 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.58 and a beta of 0.92. The firm has a fifty day simple moving average of $30.05 and a two-hundred day simple moving average of $28.88.

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

Wall Street Analysts Forecast Growth

CNP has been the subject of several research reports. BMO Capital Markets decreased their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set an outperform rating for the company in a report on Tuesday, July 23rd. Morgan Stanley lowered shares of CenterPoint Energy from an overweight rating to an equal weight rating and decreased their price objective for the stock from $30.00 to $29.00 in a report on Wednesday, July 17th. StockNews.com downgraded shares of CenterPoint Energy from a hold rating to a sell rating in a research report on Saturday, July 20th. Scotiabank reduced their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. Finally, KeyCorp reduced their target price on shares of CenterPoint Energy from $33.00 to $31.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $30.60.

Insider Activity at CenterPoint Energy

In related news, Director Barry T. Smitherman sold 5,670 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $29.42, for a total transaction of $166,811.40. Following the sale, the director now directly owns 21,203 shares of the company’s stock, valued at approximately $623,792.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

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.