Analysts Anticipate CenterPoint Energy, Inc. (CNP) to Announce $0.30 Earnings Per Share
Equities research analysts expect CenterPoint Energy, Inc. (NYSE:CNP) to announce $0.30 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for CenterPoint Energy’s earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.28. CenterPoint Energy posted earnings of $0.26 per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.4%. The firm is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that CenterPoint Energy will report full-year earnings of $1.32 per share for the current financial year, with EPS estimates ranging from $1.25 to $1.33. For the next financial year, analysts forecast that the company will report earnings of $1.47 per share, with EPS estimates ranging from $1.34 to $1.54. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow CenterPoint Energy.
Several research analysts have commented on CNP shares. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. JPMorgan Chase & Co. set a $30.00 price objective on CenterPoint Energy and gave the stock a “hold” rating in a report on Thursday, October 12th. Citigroup raised their price objective on CenterPoint Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, November 20th. Bank of America started coverage on CenterPoint Energy in a report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, SunTrust Banks restated a “hold” rating and set a $28.00 price objective on shares of CenterPoint Energy in a report on Tuesday, December 26th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CenterPoint Energy presently has a consensus rating of “Hold” and an average target price of $29.33.
A number of hedge funds and other institutional investors have recently made changes to their positions in CNP. Tortoise Investment Management LLC acquired a new stake in CenterPoint Energy during the 3rd quarter worth about $120,000. NuWave Investment Management LLC acquired a new stake in CenterPoint Energy during the 4th quarter worth about $132,000. SeaCrest Wealth Management LLC acquired a new stake in CenterPoint Energy during the 4th quarter worth about $135,000. Welch Group LLC acquired a new stake in CenterPoint Energy during the 4th quarter worth about $148,000. Finally, IHT Wealth Management LLC acquired a new stake in CenterPoint Energy during the 2nd quarter worth about $153,000. 77.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of CenterPoint Energy (NYSE:CNP) traded down $0.03 during midday trading on Thursday, hitting $26.33. The stock had a trading volume of 893,692 shares, compared to its average volume of 4,061,630. The stock has a market capitalization of $11,344.80, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.99 and a beta of 0.56. CenterPoint Energy has a 12-month low of $25.51 and a 12-month high of $30.45. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.91.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.2775 per share. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27. This represents a $1.11 annualized dividend and a yield of 4.22%. The ex-dividend date is Wednesday, February 14th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 78.10%.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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