CenterPoint Energy, Inc. Expected to Post Q3 2024 Earnings of $0.47 Per Share (NYSE:CNP)

CenterPoint Energy, Inc. (NYSE:CNP) – Equities researchers at Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for shares of CenterPoint Energy in a note issued to investors on Monday, September 30th. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings of $0.47 per share for the quarter, down from their previous estimate of $0.48. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.62 per share. Zacks Research also issued estimates for CenterPoint Energy’s Q4 2024 earnings at $0.24 EPS.

CNP has been the topic of several other research reports. KeyCorp cut CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Morgan Stanley raised their price target on CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. StockNews.com upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Wells Fargo & Company cut shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $32.00 to $28.00 in a research report on Tuesday, August 13th. Finally, Bank of America began coverage on shares of CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.55.

CenterPoint Energy Stock Performance

NYSE CNP opened at $30.30 on Thursday. The business has a fifty day moving average of $27.54 and a 200-day moving average of $28.74. CenterPoint Energy has a fifty-two week low of $25.41 and a fifty-two week high of $31.57. The stock has a market cap of $19.38 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 2.51 and a beta of 0.92. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 1.79.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. During the same quarter in the previous year, the firm posted $0.28 earnings per share.

Institutional Trading of CenterPoint Energy

A number of hedge funds have recently bought and sold shares of CNP. Capital International Investors raised its holdings in shares of CenterPoint Energy by 1.0% during the first quarter. Capital International Investors now owns 83,754,579 shares of the utilities provider’s stock worth $2,386,168,000 after acquiring an additional 865,120 shares in the last quarter. Boston Partners lifted its holdings in shares of CenterPoint Energy by 3.3% during the 1st quarter. Boston Partners now owns 17,545,528 shares of the utilities provider’s stock valued at $499,962,000 after buying an additional 556,802 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of CenterPoint Energy by 38.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,602,621 shares of the utilities provider’s stock valued at $302,070,000 after buying an additional 2,961,464 shares in the last quarter. Cohen & Steers Inc. increased its holdings in CenterPoint Energy by 24.5% in the fourth quarter. Cohen & Steers Inc. now owns 8,030,646 shares of the utilities provider’s stock worth $229,436,000 after buying an additional 1,578,948 shares during the last quarter. Finally, Northern Trust Corp raised its position in CenterPoint Energy by 0.8% during the fourth quarter. Northern Trust Corp now owns 5,952,992 shares of the utilities provider’s stock valued at $170,077,000 after acquiring an additional 46,232 shares in the last quarter. 91.77% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.21 dividend. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.77%. CenterPoint Energy’s dividend payout ratio (DPR) is 59.15%.

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.