SunTrust Banks Comments on CenterPoint Energy, Inc.’s Q1 2018 Earnings (CNP)
CenterPoint Energy, Inc. (NYSE:CNP) – Analysts at SunTrust Banks increased their Q1 2018 earnings per share (EPS) estimates for CenterPoint Energy in a research note issued on Wednesday. SunTrust Banks analyst A. Agha now forecasts that the utilities provider will earn $0.40 per share for the quarter, up from their previous forecast of $0.39. SunTrust Banks also issued estimates for CenterPoint Energy’s Q2 2018 earnings at $0.32 EPS, FY2018 earnings at $1.45 EPS, Q1 2019 earnings at $0.42 EPS, Q2 2019 earnings at $0.34 EPS and FY2019 earnings at $1.53 EPS.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 36.1% on a year-over-year basis.
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Several other research analysts have also commented on CNP. BidaskClub upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $29.00 price target on shares of CenterPoint Energy in a report on Monday, September 11th. Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and raised their price target for the company from $28.82 to $29.00 in a report on Monday, August 14th. Finally, J P Morgan Chase & Co assumed coverage on shares of CenterPoint Energy in a report on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.25.
Shares of CenterPoint Energy (NYSE:CNP) traded down 0.292% during midday trading on Thursday, reaching $28.995. 423,756 shares of the company traded hands. CenterPoint Energy has a 12 month low of $21.83 and a 12 month high of $30.45. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 20.711 and a beta of 0.63. The company’s 50 day moving average is $29.40 and its 200-day moving average is $28.30.
Several institutional investors and hedge funds have recently bought and sold shares of CNP. BlackRock Inc. raised its stake in shares of CenterPoint Energy by 1,521.6% during the first quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock valued at $1,076,193,000 after purchasing an additional 36,627,665 shares during the period. Janus Henderson Group PLC raised its stake in shares of CenterPoint Energy by 8,190.9% during the second quarter. Janus Henderson Group PLC now owns 4,550,195 shares of the utilities provider’s stock valued at $124,585,000 after purchasing an additional 4,495,313 shares during the period. Vanguard Group Inc. raised its stake in shares of CenterPoint Energy by 5.3% during the first quarter. Vanguard Group Inc. now owns 47,293,206 shares of the utilities provider’s stock valued at $1,303,873,000 after purchasing an additional 2,359,375 shares during the period. Royal Bank of Canada raised its stake in shares of CenterPoint Energy by 187.6% during the second quarter. Royal Bank of Canada now owns 2,591,360 shares of the utilities provider’s stock valued at $70,953,000 after purchasing an additional 1,690,296 shares during the period. Finally, AJO LP raised its stake in shares of CenterPoint Energy by 74.9% during the second quarter. AJO LP now owns 2,540,198 shares of the utilities provider’s stock valued at $69,551,000 after purchasing an additional 1,087,736 shares during the period. Institutional investors own 76.87% of the company’s stock.
In other news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $28.23, for a total transaction of $28,230.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 3,000 shares of company stock worth $85,500 in the last quarter. Insiders own 0.20% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th were paid a dividend of $0.2675 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.66%. CenterPoint Energy’s dividend payout ratio is currently 76.98%.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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