CenterPoint Energy (NYSE:CNP) Issues FY24 Earnings Guidance

CenterPoint Energy (NYSE:CNP) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $1.61-1.63 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America assumed coverage on shares of CenterPoint Energy in a report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price target for the company. Scotiabank increased their price target on shares of CenterPoint Energy from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Tuesday. Wells Fargo & Company raised their price objective on shares of CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. Finally, StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and an average price target of $30.09.

CenterPoint Energy Trading Down 1.1 %

Shares of CenterPoint Energy stock opened at $29.43 on Wednesday. The firm has a 50-day simple moving average of $28.66 and a two-hundred day simple moving average of $28.98. The company has a market cap of $18.82 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 2.58 and a beta of 0.92. CenterPoint Energy has a fifty-two week low of $25.41 and a fifty-two week high of $31.57. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.99 and a current ratio of 1.20.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. During the same quarter in the previous year, the company earned $0.40 earnings per share. As a group, equities analysts predict that CenterPoint Energy will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.85%. The ex-dividend date is Thursday, November 21st. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s dividend payout ratio is currently 59.15%.

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.