CenterPoint Energy, Inc. (CNP) Updates FY17 Earnings Guidance
CenterPoint Energy, Inc. (NYSE:CNP) updated its FY17 earnings guidance on Friday. The company provided earnings per share guidance of $1.25-1.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.33.
A number of research firms have recently commented on CNP. Royal Bank Of Canada reaffirmed a hold rating and issued a $29.00 price target on shares of CenterPoint Energy in a report on Monday, September 11th. Credit Suisse Group raised CenterPoint Energy from an underperform rating to a neutral rating and lifted their price objective for the company from $28.82 to $29.00 in a research note on Monday, August 14th. SunTrust Banks, Inc. reaffirmed a hold rating and set a $30.00 price target on shares of CenterPoint Energy in a research note on Monday, October 2nd. J P Morgan Chase & Co set a $30.00 price target on CenterPoint Energy and gave the stock a hold rating in a research note on Thursday, October 12th. Finally, BidaskClub raised CenterPoint Energy from a buy rating to a strong-buy rating in a research note on Wednesday, August 23rd. Nine research 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 stock. The company currently has a consensus rating of Hold and an average target price of $28.33.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.01). The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.07 billion. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 76.98%.
In related news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.08, for a total transaction of $29,080.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.
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About CenterPoint Energy
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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