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

CenterPoint Energy (NYSE:CNP - Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 1.610-1.630 for the period, compared to the consensus earnings per share estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY 2025 guidance to 1.740-1.760 EPS.

CenterPoint Energy Price Performance

Shares of CNP stock traded up $0.44 during mid-day trading on Monday, hitting $29.75. 4,491,188 shares of the stock traded hands, compared to its average volume of 5,379,307. CenterPoint Energy has a twelve month low of $25.41 and a twelve month high of $31.57. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 2.58 and a beta of 0.92. The company's 50-day simple moving average is $28.51 and its 200-day simple moving average is $28.95. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.99 and a current ratio of 1.20.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, equities research analysts expect that CenterPoint Energy will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.82%. This is a boost from CenterPoint Energy's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, November 21st. CenterPoint Energy's payout ratio is presently 59.15%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNP. Morgan Stanley lifted their target price on CenterPoint Energy from $30.00 to $32.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. BMO Capital Markets restated a "market perform" rating and issued a $28.00 target price on shares of CenterPoint Energy in a report on Monday, August 26th. StockNews.com downgraded CenterPoint Energy from a "hold" rating to a "sell" rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price target on CenterPoint Energy from $28.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Finally, KeyCorp downgraded CenterPoint Energy from an "overweight" rating to a "sector weight" rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $29.91.

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.