CenterPoint Energy, Inc. (CNP) Expected to Post Earnings of $0.41 Per Share

Wall Street brokerages expect CenterPoint Energy, Inc. (NYSE:CNP) to announce $0.41 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for CenterPoint Energy’s earnings, with estimates ranging from $0.40 to $0.44. CenterPoint Energy posted earnings per share of $0.39 during the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The company is expected to report its next quarterly earnings results before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that CenterPoint Energy will report full year earnings of $1.57 per share for the current financial year, with EPS estimates ranging from $1.45 to $1.60. For the next financial year, analysts expect that the business will report earnings of $1.74 per share, with EPS estimates ranging from $1.67 to $1.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow CenterPoint Energy.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Friday, August 3rd. The utilities provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. CenterPoint Energy’s revenue was up 2.0% compared to the same quarter last year.

Several brokerages recently commented on CNP. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. ValuEngine lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Barclays initiated coverage on shares of CenterPoint Energy in a research report on Monday, October 22nd. They set a “hold” rating and a $30.00 price objective on the stock. Finally, SunTrust Banks reissued a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 6th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $29.33.

NYSE:CNP traded down $0.23 during midday trading on Tuesday, hitting $26.96. 4,177,535 shares of the company were exchanged, compared to its average volume of 5,235,365. CenterPoint Energy has a fifty-two week low of $24.81 and a fifty-two week high of $30.17. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.83. The firm has a market capitalization of $13.51 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.90 and a beta of 0.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.12%. The ex-dividend date is Wednesday, November 14th. CenterPoint Energy’s payout ratio is currently 81.02%.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $27.54, for a total transaction of $110,160.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Milton Carroll sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Korea Investment CORP boosted its holdings in shares of CenterPoint Energy by 289.0% in the second quarter. Korea Investment CORP now owns 398,011 shares of the utilities provider’s stock valued at $11,029,000 after acquiring an additional 295,700 shares in the last quarter. Bridgewater Associates LP boosted its holdings in shares of CenterPoint Energy by 54.6% in the second quarter. Bridgewater Associates LP now owns 256,768 shares of the utilities provider’s stock valued at $7,115,000 after acquiring an additional 90,653 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of CenterPoint Energy by 454.6% in the second quarter. Marshall Wace LLP now owns 230,154 shares of the utilities provider’s stock valued at $6,378,000 after acquiring an additional 188,654 shares in the last quarter. Pensionfund Sabic purchased a new stake in shares of CenterPoint Energy in the third quarter valued at about $1,714,000. Finally, Andra AP fonden boosted its holdings in shares of CenterPoint Energy by 31.9% in the second quarter. Andra AP fonden now owns 314,700 shares of the utilities provider’s stock valued at $8,720,000 after acquiring an additional 76,100 shares in the last quarter. 66.83% of the stock is currently owned by institutional investors.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

Featured Story: What are the benefits of buying treasury bonds?

Get a free copy of the Zacks research report on CenterPoint Energy (CNP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CenterPoint Energy (NYSE:CNP)

Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply