Zacks: Analysts Anticipate CenterPoint Energy, Inc. (CNP) to Announce $0.41 Earnings Per Share

Analysts predict that CenterPoint Energy, Inc. (NYSE:CNP) will post $0.41 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for CenterPoint Energy’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.44. CenterPoint Energy posted earnings per share of $0.39 during the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The firm is expected to announce its next earnings results before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that CenterPoint Energy will report full year earnings of $1.60 per share for the current financial year, with EPS estimates ranging from $1.60 to $1.61. For the next fiscal year, analysts expect that the firm will report earnings of $1.69 per share, with EPS estimates ranging from $1.65 to $1.72. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover CenterPoint Energy.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Friday, August 3rd. The utilities provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. CenterPoint Energy’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Bank of America raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. ValuEngine raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Finally, SunTrust Banks reissued a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. CenterPoint Energy has a consensus rating of “Hold” and a consensus price target of $29.00.

In related news, insider Milton Carroll sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total value of $282,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $27.54, for a total transaction of $110,160.00. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock valued at $504,820 in the last ninety days. 0.22% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. boosted its holdings in shares of CenterPoint Energy by 18.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 1,771 shares during the last quarter. First Allied Advisory Services Inc. boosted its holdings in shares of CenterPoint Energy by 18.9% during the 2nd quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 1,865 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of CenterPoint Energy by 3.5% during the 2nd quarter. Amalgamated Bank now owns 55,555 shares of the utilities provider’s stock valued at $1,539,000 after purchasing an additional 1,885 shares during the last quarter. Northpointe Capital LLC boosted its holdings in shares of CenterPoint Energy by 2.0% during the 2nd quarter. Northpointe Capital LLC now owns 98,431 shares of the utilities provider’s stock valued at $2,728,000 after purchasing an additional 1,927 shares during the last quarter. Finally, Zacks Investment Management boosted its holdings in shares of CenterPoint Energy by 5.1% during the 2nd quarter. Zacks Investment Management now owns 43,053 shares of the utilities provider’s stock valued at $1,193,000 after purchasing an additional 2,090 shares during the last quarter. 77.39% of the stock is owned by institutional investors.

Shares of CNP opened at $27.95 on Friday. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 2.92 and a beta of 0.44. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 1.66. CenterPoint Energy has a 1-year low of $24.81 and a 1-year high of $30.17.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Thursday, August 16th were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Wednesday, August 15th. CenterPoint Energy’s dividend payout ratio is currently 81.02%.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

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