What is Scotiabank’s Estimate for CNP FY2024 Earnings?

CenterPoint Energy, Inc. (NYSE:CNP) – Analysts at Scotiabank increased their FY2024 earnings per share estimates for CenterPoint Energy in a note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel now anticipates that the utilities provider will post earnings of $1.63 per share for the year, up from their previous estimate of $1.61. Scotiabank currently has a “Sector Outperform” rating and a $35.00 price target on the stock. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.62 per share. Scotiabank also issued estimates for CenterPoint Energy’s FY2025 earnings at $1.75 EPS.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the firm earned $0.40 EPS.

A number of other equities analysts have also recently commented on the company. Morgan Stanley lowered their price target on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. StockNews.com downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. LADENBURG THALM/SH SH began coverage on shares of CenterPoint Energy in a report on Thursday, December 12th. They issued a “buy” rating and a $34.50 target price for the company. Wells Fargo & Company lifted their price target on shares of CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, UBS Group raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $31.00 to $37.00 in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, CenterPoint Energy presently has a consensus rating of “Hold” and an average price target of $31.27.

CenterPoint Energy Stock Up 0.2 %

Shares of CNP opened at $31.22 on Monday. The firm has a 50 day simple moving average of $31.46 and a two-hundred day simple moving average of $29.56. The company has a market cap of $20.35 billion, a P/E ratio of 20.68, a P/E/G ratio of 2.77 and a beta of 0.95. CenterPoint Energy has a one year low of $25.41 and a one year high of $33.00. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.92.

CenterPoint Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.82%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, February 20th. CenterPoint Energy’s dividend payout ratio is presently 58.28%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNP. Wilmington Savings Fund Society FSB acquired a new stake in shares of CenterPoint Energy in the third quarter valued at about $26,000. First Horizon Advisors Inc. raised its holdings in CenterPoint Energy by 51.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 375 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of CenterPoint Energy in the 2nd quarter worth approximately $36,000. Kimelman & Baird LLC bought a new stake in shares of CenterPoint Energy in the 2nd quarter valued at $43,000. Finally, GHP Investment Advisors Inc. increased its position in shares of CenterPoint Energy by 80.8% during the second quarter. GHP Investment Advisors Inc. now owns 1,629 shares of the utilities provider’s stock worth $50,000 after buying an additional 728 shares during the period. 91.77% of the stock is owned by institutional investors.

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.