CenterPoint Energy (NYSE:CNP) Releases FY19 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.60-1.70 for the period, compared to the Thomson Reuters consensus estimate of $1.64. CenterPoint Energy also updated its FY 2019 guidance to $1.60-1.70 EPS.

CNP opened at $28.86 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 2.12. CenterPoint Energy has a 52-week low of $26.74 and a 52-week high of $31.42. The stock has a market capitalization of $14.49 billion, a PE ratio of 18.04, a PEG ratio of 3.41 and a beta of 0.46. The company’s 50 day simple moving average is $29.04.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.04. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.79 billion. CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. As a group, analysts forecast that CenterPoint Energy will post 1.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 15th will be paid a $0.2875 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $1.15 annualized dividend and a yield of 3.98%. CenterPoint Energy’s payout ratio is 71.88%.

Several equities research analysts recently weighed in on CNP shares. JPMorgan Chase & Co. reduced their price target on CenterPoint Energy from $33.00 to $32.00 and set an overweight rating on the stock in a research note on Wednesday, May 15th. KeyCorp started coverage on CenterPoint Energy in a research note on Tuesday, June 4th. They issued a sector weight rating on the stock. Credit Suisse Group set a $33.00 price target on CenterPoint Energy and gave the stock a buy rating in a research note on Monday, April 22nd. Mizuho started coverage on CenterPoint Energy in a research note on Monday, June 3rd. They issued a buy rating and a $31.00 price target on the stock. Finally, Morgan Stanley upped their price target on CenterPoint Energy from $30.00 to $31.00 and gave the stock an equal weight rating in a research note on Friday, June 14th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. CenterPoint Energy presently has a consensus rating of Buy and a consensus target price of $31.85.

In other news, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $29.03, for a total value of $203,210.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Milton Carroll sold 12,000 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $29.76, for a total value of $357,120.00. Following the completion of the sale, the chairman now directly owns 98,301 shares in the company, valued at $2,925,437.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,780 shares of company stock worth $1,545,396. Insiders own 0.24% of the company’s stock.

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.

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

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