CenterPoint Energy (NYSE:CNP) released its quarterly earnings data on Thursday. The utilities provider reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02), MarketWatch Earnings reports. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.26 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. CenterPoint Energy updated its FY18 guidance to $1.50-1.60 EPS and its FY 2018 guidance to $1.55-1.60 EPS.
CNP stock opened at $28.13 on Friday. The firm has a market cap of $14.19 billion, a P/E ratio of 20.53, a PEG ratio of 3.04 and a beta of 0.43. 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 one year low of $24.81 and a one year high of $30.17.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 15th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.11 annualized dividend and a yield of 3.95%. CenterPoint Energy’s dividend payout ratio is presently 81.02%.
Hedge funds have recently added to or reduced their stakes in the stock. Korea Investment CORP grew its position in CenterPoint Energy by 289.0% during the second quarter. Korea Investment CORP now owns 398,011 shares of the utilities provider’s stock valued at $11,029,000 after buying an additional 295,700 shares during the period. Bridgewater Associates LP grew its position in CenterPoint Energy by 54.6% during the second quarter. Bridgewater Associates LP now owns 256,768 shares of the utilities provider’s stock valued at $7,115,000 after buying an additional 90,653 shares during the period. Marshall Wace LLP lifted its holdings in CenterPoint Energy by 454.6% during the second quarter. Marshall Wace LLP now owns 230,154 shares of the utilities provider’s stock valued at $6,378,000 after purchasing an additional 188,654 shares in the last quarter. Pensionfund Sabic purchased a new position in CenterPoint Energy during the third quarter valued at $1,714,000. Finally, Andra AP fonden lifted its holdings in CenterPoint Energy by 31.9% during the second quarter. Andra AP fonden now owns 314,700 shares of the utilities provider’s stock valued at $8,720,000 after purchasing an additional 76,100 shares in the last quarter. Institutional investors own 67.52% of the company’s stock.
A number of analysts have recently weighed in on the stock. Wells Fargo & Co reiterated a “buy” rating on shares of CenterPoint Energy in a research note on Friday. Zacks Investment Research upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. Barclays assumed coverage on shares of CenterPoint Energy in a research note on Monday, October 22nd. They issued a “hold” rating and a $30.00 price objective on the stock. ValuEngine upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CenterPoint Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 9th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. CenterPoint Energy currently has an average rating of “Hold” and a consensus target price of $29.33.
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CenterPoint Energy Company Profile
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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