CenterPoint Energy (NYSE:CNP) Releases FY 2019 Earnings Guidance

CenterPoint Energy (NYSE:CNP) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.60-1.70 for the period, compared to the Thomson Reuters consensus estimate of $1.64. CenterPoint Energy also updated its FY19 guidance to $1.60-1.70 EPS.

A number of analysts recently issued reports on the company. Credit Suisse Group set a $33.00 target price on CenterPoint Energy and gave the company a buy rating in a research report on Monday, April 22nd. Bank of America raised CenterPoint Energy from a neutral rating to a buy rating and set a $29.32 target price for the company in a research report on Thursday, June 13th. They noted that the move was a valuation call. Mizuho assumed coverage on CenterPoint Energy in a research report on Monday, June 3rd. They issued a buy rating and a $31.00 target price for the company. Goldman Sachs Group upped their target price on CenterPoint Energy from $31.00 to $32.00 and gave the company a buy rating in a research report on Tuesday, July 2nd. Finally, KeyCorp assumed coverage on CenterPoint Energy in a research report on Tuesday, June 4th. They issued a sector weight rating for the company. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $31.85.

Shares of NYSE CNP traded down $0.21 during trading hours on Friday, reaching $27.62. The stock had a trading volume of 3,529,251 shares, compared to its average volume of 4,391,761. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 3.26 and a beta of 0.46. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.97 and a current ratio of 1.11. CenterPoint Energy has a fifty-two week low of $26.74 and a fifty-two week high of $31.42. The business’s 50-day simple moving average is $28.94.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.04. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.79 billion. CenterPoint Energy had a return on equity of 12.67% and a net margin of 5.55%. The firm’s revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. Equities analysts anticipate that CenterPoint Energy will post 1.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Wednesday, August 14th. CenterPoint Energy’s dividend payout ratio is presently 71.88%.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $28.40, for a total transaction of $198,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Milton Carroll sold 19,780 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $29.70, for a total value of $587,466.00. Following the sale, the insider now directly owns 98,301 shares of the company’s stock, valued at $2,919,539.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,780 shares of company stock valued at $1,545,396. 0.24% of the stock is owned by company insiders.

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 and Estimates for CenterPoint Energy (NYSE:CNP)

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