CenterPoint Energy (CNP) Posts Earnings Results, Misses Expectations By $0.02 EPS

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%.

In related news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $27.09, for a total transaction of $108,360.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.22% of the stock is currently owned by company insiders.

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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Earnings History for CenterPoint Energy (NYSE:CNP)

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