CenterPoint Energy (NYSE:CNP) Updates FY 2024 Earnings Guidance

CenterPoint Energy (NYSE:CNP) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.610-1.630 for the period, compared to the consensus estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY24 guidance to $1.61-1.63 EPS.

CenterPoint Energy Price Performance

CNP stock traded up $0.11 during trading on Thursday, hitting $29.43. The stock had a trading volume of 2,560,243 shares, compared to its average volume of 4,262,997. The stock has a market capitalization of $18.63 billion, a P/E ratio of 20.66, a PEG ratio of 2.57 and a beta of 0.91. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.25 and a quick ratio of 0.58. The company’s 50-day moving average price is $28.12 and its two-hundred day moving average price is $28.05. CenterPoint Energy has a twelve month low of $25.42 and a twelve month high of $31.43.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the company earned $0.50 earnings per share. As a group, research analysts predict that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s payout ratio is 56.34%.

Analyst Ratings Changes

A number of research firms have commented on CNP. KeyCorp boosted their price target on shares of CenterPoint Energy from $29.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, January 4th. Scotiabank dropped their price target on shares of CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. Guggenheim decreased their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set a buy rating for the company in a report on Wednesday, February 21st. Barclays increased their price objective on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an underweight rating in a research note on Thursday, March 14th. Finally, Mizuho restated a neutral rating and issued a $29.00 price objective (down previously from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $30.18.

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.