CenterPoint Energy (NYSE:CNP) Updates FY24 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.61-1.63 for the period, compared to the consensus earnings per share estimate of $1.62. CenterPoint Energy also updated its FY25 guidance to $1.74-1.76 EPS.

CenterPoint Energy Trading Down 0.6 %

NYSE CNP opened at $29.31 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 1.79. The stock’s 50-day simple moving average is $28.51 and its two-hundred day simple moving average is $28.95. CenterPoint Energy has a twelve month low of $25.41 and a twelve month high of $31.57. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.58 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same period in the prior year, the business posted $0.40 earnings per share. Research analysts forecast that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.21 dividend. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.87%. CenterPoint Energy’s dividend payout ratio is 49.69%.

Analysts Set New Price Targets

Several research firms have weighed in on CNP. BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price target on shares of CenterPoint Energy in a research note on Monday, August 26th. Bank of America began coverage on CenterPoint Energy in a research note on Thursday, September 12th. They issued a “neutral” rating and a $29.00 target price for the company. JPMorgan Chase & Co. cut CenterPoint Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $32.00 to $29.00 in a report on Friday, August 2nd. KeyCorp cut CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Finally, StockNews.com lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, CenterPoint Energy has a consensus rating of “Hold” and a consensus price target of $29.91.

About CenterPoint Energy

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.