CenterPoint Energy, Inc. (CNP) Posts Quarterly Earnings Results, Meets Expectations
CenterPoint Energy, Inc. (NYSE:CNP) issued its quarterly earnings results on Friday. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39, Briefing.com reports. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. CenterPoint Energy updated its FY17 guidance to $1.25-1.33 EPS.
Shares of CenterPoint Energy (NYSE CNP) traded down $0.12 on Friday, reaching $29.59. 3,003,782 shares of the company’s stock were exchanged, compared to its average volume of 2,581,365. The company has a market capitalization of $12,754.00, a PE ratio of 22.59, a price-to-earnings-growth ratio of 4.08 and a beta of 0.64. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 2.13. CenterPoint Energy has a 1 year low of $22.32 and a 1 year high of $30.45.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio is 78.10%.
In other news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 3,000 shares of company stock valued at $88,300. Corporate insiders own 0.20% of the company’s stock.
CNP has been the topic of several research analyst reports. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $29.00 target price on shares of CenterPoint Energy in a research note on Monday, September 11th. Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and increased their target price for the company from $28.82 to $29.00 in a research note on Monday, August 14th. J P Morgan Chase & Co set a $30.00 target price on shares of CenterPoint Energy and gave the company a “hold” rating in a research note on Thursday, October 12th. Finally, BidaskClub cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Nine investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. CenterPoint Energy presently has an average rating of “Hold” and a consensus price target of $28.75.
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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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