Zacks Research Analysts Lift Earnings Estimates for CenterPoint Energy, Inc. (NYSE:CNP)

CenterPoint Energy, Inc. (NYSE:CNP) – Research analysts at Zacks Research raised their Q2 2024 EPS estimates for CenterPoint Energy in a report released on Tuesday, May 21st. Zacks Research analyst R. Department now expects that the utilities provider will post earnings per share of $0.34 for the quarter, up from their previous forecast of $0.31. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.62 per share. Zacks Research also issued estimates for CenterPoint Energy’s FY2025 earnings at $1.74 EPS and Q1 2026 earnings at $0.45 EPS.

CNP has been the topic of several other reports. Mizuho reiterated a “neutral” rating and issued a $29.00 price target (down from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. StockNews.com upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Barclays upped their price objective on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a research note on Thursday, March 14th. Guggenheim cut their target price on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Finally, Scotiabank reduced their target price on CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.36.

CenterPoint Energy Trading Up 0.5 %

CNP opened at $29.51 on Thursday. The business’s 50-day simple moving average is $28.73 and its 200-day simple moving average is $28.33. The company has a market cap of $18.87 billion, a P/E ratio of 20.78, a PEG ratio of 2.65 and a beta of 0.91. CenterPoint Energy has a one year low of $25.42 and a one year high of $31.43. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.25.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.82 billion. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. During the same period in the previous year, the company earned $0.50 EPS.

Institutional Investors Weigh In On CenterPoint Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in shares of CenterPoint Energy in the 1st quarter valued at approximately $25,000. Global Retirement Partners LLC raised its position in CenterPoint Energy by 163.7% in the fourth quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 555 shares in the last quarter. FinTrust Capital Advisors LLC lifted its holdings in CenterPoint Energy by 60.3% in the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 452 shares during the period. Tobam purchased a new stake in shares of CenterPoint Energy during the 1st quarter worth $35,000. Finally, Larson Financial Group LLC grew its stake in shares of CenterPoint Energy by 634.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,389 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 1,200 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Insider Buying and Selling

In other CenterPoint Energy news, Director Barry T. Smitherman sold 5,670 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $29.42, for a total value of $166,811.40. Following the transaction, the director now directly owns 21,203 shares of the company’s stock, valued at approximately $623,792.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

CenterPoint Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.34%.

CenterPoint Energy Company Profile

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.