CenterPoint Energy (NYSE:CNP) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

CenterPoint Energy (NYSE:CNP) released its earnings results on Tuesday. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02, RTT News reports. CenterPoint Energy had a net margin of 10.55% and a return on equity of 10.44%. During the same period last year, the business posted $0.50 EPS. CenterPoint Energy updated its FY 2024 guidance to 1.610-1.630 EPS and its FY24 guidance to $1.61-1.63 EPS.

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $29.22 on Tuesday. The company’s 50 day simple moving average is $28.07 and its 200-day simple moving average is $28.03. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. CenterPoint Energy has a 1 year low of $25.42 and a 1 year high of $31.43. The company has a market capitalization of $18.50 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 2.54 and a beta of 0.92.

CenterPoint Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio is presently 58.82%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CNP shares. Mizuho reaffirmed a “neutral” rating and issued a $29.00 price target (down previously from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. Guggenheim cut their target price on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Barclays boosted their price target on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a research report on Thursday, March 14th. Scotiabank cut their price objective on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Finally, Evercore ISI lowered shares of CenterPoint Energy from an “outperform” rating to an “in-line” rating and boosted their target price for the company from $29.00 to $30.00 in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.18.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.