KeyCorp Forecasts Increased Earnings for CenterPoint Energy

CenterPoint Energy, Inc. (NYSE:CNP - Free Report) - KeyCorp raised their FY2024 EPS estimates for shares of CenterPoint Energy in a note issued to investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $1.62 for the year, up from their previous forecast of $1.61. The consensus estimate for CenterPoint Energy's current full-year earnings is $1.62 per share. KeyCorp also issued estimates for CenterPoint Energy's Q4 2024 earnings at $0.40 EPS and FY2026 earnings at $1.88 EPS.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. During the same quarter in the previous year, the business posted $0.40 EPS.

A number of other equities research analysts have also recently commented on CNP. BMO Capital Markets reiterated a "market perform" rating and set a $28.00 target price on shares of CenterPoint Energy in a research note on Monday, August 26th. Wells Fargo & Company upped their price target on shares of CenterPoint Energy from $28.00 to $32.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Scotiabank boosted their price target on shares of CenterPoint Energy from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 29th. Bank of America assumed coverage on CenterPoint Energy in a report on Thursday, September 12th. They set a "neutral" rating and a $29.00 price objective on the stock. Finally, Morgan Stanley reduced their target price on shares of CenterPoint Energy from $32.00 to $31.00 and set an "equal weight" rating on the stock in a report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.58.

CenterPoint Energy Stock Down 1.0 %

Shares of CenterPoint Energy stock traded down $0.33 on Friday, hitting $31.66. The company had a trading volume of 2,836,741 shares, compared to its average volume of 5,290,703. The stock has a market capitalization of $20.63 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 2.79 and a beta of 0.96. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.92 and a current ratio of 1.11. CenterPoint Energy has a 1 year low of $25.41 and a 1 year high of $33.00. The stock has a 50 day moving average of $30.41 and a 200-day moving average of $29.33.

CenterPoint Energy Increases Dividend

The firm also recently disclosed 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 is an increase from CenterPoint Energy's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.65%. CenterPoint Energy's dividend payout ratio (DPR) is presently 55.63%.

Institutional Investors Weigh In On CenterPoint Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of CenterPoint Energy by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 15,083,896 shares of the utilities provider's stock worth $442,231,000 after acquiring an additional 370,790 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in shares of CenterPoint Energy by 5.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 5,009,756 shares of the utilities provider's stock valued at $147,387,000 after acquiring an additional 247,944 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in CenterPoint Energy by 46.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,666,563 shares of the utilities provider's stock worth $144,570,000 after acquiring an additional 1,484,079 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in CenterPoint Energy by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 4,043,757 shares of the utilities provider's stock worth $125,275,000 after acquiring an additional 53,655 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in CenterPoint Energy by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,956,432 shares of the utilities provider's stock valued at $116,398,000 after purchasing an additional 110,905 shares during the period. 91.77% of the stock is owned by hedge funds and other institutional investors.

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.