CenterPoint Energy (CNP) Updates FY 2018 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.55-1.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.58. CenterPoint Energy also updated its FY18 guidance to $1.50-1.60 EPS.

CNP stock traded up $0.01 during midday trading on Friday, reaching $28.07. 2,960,354 shares of the company were exchanged, compared to its average volume of 4,952,630. The company has a current ratio of 0.95, a quick ratio of 0.83 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 stock has a market cap of $13.93 billion, a P/E ratio of 20.49, a PEG ratio of 2.99 and a beta of 0.43.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the business posted $0.38 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that CenterPoint Energy will post 1.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. CenterPoint Energy’s payout ratio is 81.02%.

A number of equities analysts have recently commented on the stock. ValuEngine cut shares of CenterPoint Energy from a hold rating to a sell rating in a report on Monday, August 6th. JPMorgan Chase & Co. raised shares of CenterPoint Energy from a neutral rating to an overweight rating and set a $31.00 target price on the stock in a report on Wednesday, September 5th. Zacks Investment Research raised shares of CenterPoint Energy from a hold rating to a buy rating and set a $31.00 target price on the stock in a report on Monday, July 23rd. Wells Fargo & Co reaffirmed a buy rating on shares of CenterPoint Energy in a report on Friday. Finally, Barclays assumed coverage on shares of CenterPoint Energy in a report on Monday, October 22nd. They issued a hold rating and a $30.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CenterPoint Energy currently has an average rating of Hold and an average price target of $29.33.

In other news, CEO Scott M. Prochazka sold 4,000 shares of CenterPoint Energy stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $27.09, for a total value of $108,360.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

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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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Earnings History and Estimates for CenterPoint Energy (NYSE:CNP)

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