Brokers Issue Forecasts for CenterPoint Energy Inc.’s Q4 2016 Earnings (CNP)
CenterPoint Energy Inc. (NYSE:CNP) – SunTrust Banks boosted their Q4 2016 earnings per share estimates for CenterPoint Energy in a note issued to investors on Monday. SunTrust Banks analyst A. Agha now expects that the brokerage will earn $0.30 per share for the quarter, up from their previous estimate of $0.28. SunTrust Banks currently has a “Neutral” rating and a $25.00 target price on the stock.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, November 4th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. The company earned $1.89 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the company earned $0.34 earnings per share. CenterPoint Energy’s quarterly revenue was up 15.9% compared to the same quarter last year.
A number of other equities research analysts also recently weighed in on the company. Credit Suisse Group AG set a $24.00 price target on CenterPoint Energy and gave the company a “hold” rating in a report on Monday, August 8th. RBC Capital Markets set a $26.00 price target on CenterPoint Energy and gave the company a “buy” rating in a report on Monday, August 8th. TheStreet downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Guggenheim started coverage on CenterPoint Energy in a report on Thursday, November 3rd. They issued a “buy” rating and a $25.00 price target for the company. Finally, Deutsche Bank AG lowered their price target on CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating for the company in a report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued 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 23.12 on Wednesday. CenterPoint Energy has a 12-month low of $16.05 and a 12-month high of $24.71. The firm’s market cap is $9.96 billion. The firm has a 50-day moving average price of $22.85 and a 200-day moving average price of $22.89.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in CenterPoint Energy by 4.3% in the first quarter. Geode Capital Management LLC now owns 3,596,886 shares of the company’s stock valued at $75,102,000 after buying an additional 148,845 shares during the last quarter. Renaissance Technologies LLC boosted its position in CenterPoint Energy by 554.4% in the first quarter. Renaissance Technologies LLC now owns 777,400 shares of the company’s stock valued at $16,263,000 after buying an additional 658,600 shares during the last quarter. AMP Capital Investors Ltd boosted its position in CenterPoint Energy by 29.7% in the first quarter. AMP Capital Investors Ltd now owns 355,104 shares of the company’s stock valued at $7,404,000 after buying an additional 81,329 shares during the last quarter. Invictus RG acquired a new position in CenterPoint Energy during the first quarter valued at about $204,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in CenterPoint Energy during the first quarter valued at about $13,623,000. Hedge funds and other institutional investors own 77.56% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.2575 per share. The ex-dividend date is Monday, November 14th. This represents a $1.03 dividend on an annualized basis and a yield of 4.46%. CenterPoint Energy’s payout ratio is currently -245.24%.
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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