CenterPoint Energy (NYSE:CNP) Releases FY 2024 Earnings Guidance

CenterPoint Energy (NYSE:CNP) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.610-1.630 for the period, compared to the consensus estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY24 guidance to $1.61-1.63 EPS.

CenterPoint Energy Stock Performance

CenterPoint Energy stock traded down $0.04 during midday trading on Tuesday, hitting $29.18. 2,741,745 shares of the company’s stock were exchanged, compared to its average volume of 4,205,849. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. The stock has a market cap of $18.47 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 has a 12-month low of $25.42 and a 12-month high of $31.43. The firm’s 50 day simple moving average is $28.07 and its 200 day simple moving average is $28.03.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same period in the previous year, the firm posted $0.50 EPS. Equities research analysts predict that CenterPoint Energy will post 1.62 EPS for the current year.

CenterPoint Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 58.82%.

Wall Street Analyst Weigh In

CNP has been the subject of several research analyst reports. Mizuho reiterated a neutral rating and issued a $29.00 price objective (down previously from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. KeyCorp raised their price objective on shares of CenterPoint Energy from $29.00 to $31.00 and gave the company an overweight rating in a research note on Thursday, January 4th. Scotiabank lowered their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. Barclays increased their target price on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an underweight rating in a report on Thursday, March 14th. Finally, Evercore ISI lowered CenterPoint Energy from an outperform rating to an in-line rating and boosted their price target for the stock from $29.00 to $30.00 in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target 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.