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

CenterPoint Energy (NYSE:CNP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.610-1.630 for the period, compared to the consensus estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY24 guidance to $1.61-1.63 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore ISI downgraded CenterPoint Energy from an outperform rating to an in-line rating and increased their price objective for the stock from $29.00 to $30.00 in a report on Tuesday, January 23rd. Barclays increased their price objective on CenterPoint Energy from $28.00 to $29.00 and gave the company an underweight rating in a report on Thursday, March 14th. Mizuho reaffirmed a neutral rating and set a $29.00 price target (down from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Guggenheim decreased their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Finally, KeyCorp upped their target price on shares of CenterPoint Energy from $29.00 to $31.00 and gave the company an overweight rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $30.18.

CenterPoint Energy Stock Performance

Shares of CNP stock traded down $0.04 during midday trading on Tuesday, hitting $29.18. 2,741,745 shares of the company were exchanged, compared to its average volume of 4,205,849. The firm has a market capitalization of $18.47 billion, a P/E ratio of 21.49, a PEG ratio of 2.54 and a beta of 0.92. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. CenterPoint Energy has a 52 week low of $25.42 and a 52 week high of $31.43. The firm’s 50 day moving average price is $28.07 and its two-hundred day moving average price is $28.03.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, equities research analysts anticipate that CenterPoint Energy will post 1.62 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio is currently 58.82%.

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.