FY2016 Earnings Forecast for CenterPoint Energy Inc. (CNP) Issued By SunTrust Banks
CenterPoint Energy Inc. (NYSE:CNP) – Equities research analysts at SunTrust Banks increased their FY2016 earnings estimates for CenterPoint Energy in a research report issued to clients and investors on Monday. SunTrust Banks analyst A. Agha now expects that the firm will earn $1.20 per share for the year, up from their prior forecast of $1.14. SunTrust Banks has a “Neutral” rating and a $25.00 price objective on the stock. SunTrust Banks also issued estimates for CenterPoint Energy’s Q1 2017 earnings at $0.34 EPS, Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.32 EPS, FY2017 earnings at $1.28 EPS, Q1 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.45 EPS and FY2018 earnings at $1.33 EPS.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Friday, November 4th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. CenterPoint Energy had a negative net margin of 2.46% and a positive return on equity of 15.00%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the business earned $0.34 EPS. The company’s revenue was up 15.9% on a year-over-year basis.
CNP has been the subject of several other research reports. Guggenheim started coverage on shares of CenterPoint Energy in a report on Thursday, November 3rd. They set a “buy” rating and a $25.00 price objective for the company. RBC Capital Markets set a $26.00 price target on shares of CenterPoint Energy and gave the company a “buy” rating in a report on Monday, August 8th. Deutsche Bank AG lowered their price target on shares of CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating for the company in a report on Monday, August 8th. Credit Suisse Group AG lowered shares of CenterPoint Energy from a “neutral” rating to an “underperform” rating and raised their price target for the company from $24.00 to $25.00 in a report on Tuesday. They noted that the move was a valuation call. Finally, TheStreet lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. CenterPoint Energy has an average rating of “Hold” and an average price target of $23.02.
Shares of CenterPoint Energy (NYSE:CNP) opened at 23.21 on Tuesday. The firm’s market capitalization is $10.00 billion. The firm’s 50-day moving average is $22.87 and its 200 day moving average is $22.88. CenterPoint Energy has a 52 week low of $16.05 and a 52 week high of $24.71.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 16th will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 4.44%. CenterPoint Energy’s dividend payout ratio is -245.24%.
Several institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan boosted its position in shares of CenterPoint Energy by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 13,620 shares of the company’s stock worth $316,000 after buying an additional 50 shares in the last quarter. WealthTrust Axiom LLC boosted its position in shares of CenterPoint Energy by 0.4% in the second quarter. WealthTrust Axiom LLC now owns 14,232 shares of the company’s stock worth $341,000 after buying an additional 59 shares in the last quarter. Washington Trust Bank boosted its position in shares of CenterPoint Energy by 1.7% in the third quarter. Washington Trust Bank now owns 5,474 shares of the company’s stock worth $127,000 after buying an additional 90 shares in the last quarter. Atlantic Trust Group LLC boosted its position in shares of CenterPoint Energy by 1.1% in the second quarter. Atlantic Trust Group LLC now owns 10,512 shares of the company’s stock worth $252,000 after buying an additional 115 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in CenterPoint Energy by 0.3% in the second quarter. Commonwealth Bank of Australia now owns 60,237 shares of the company’s stock valued at $1,447,000 after buying an additional 152 shares in the last quarter. 77.56% of the stock is currently owned by institutional investors.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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