CenterPoint Energy (NYSE:CNP - Get Free Report) released its quarterly earnings data on Tuesday. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.02, RTT News reports. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same quarter last year, the company posted $0.50 earnings per share. CenterPoint Energy updated its FY 2024 guidance to 1.610-1.630 EPS and its FY24 guidance to $1.61-1.63 EPS.
CenterPoint Energy Stock Performance
CNP traded down $0.08 during midday trading on Tuesday, reaching $29.14. The company's stock had a trading volume of 7,372,799 shares, compared to its average volume of 4,263,375. The stock has a market cap of $18.45 billion, a P/E ratio of 21.43, a PEG ratio of 2.54 and a beta of 0.92. The company has a fifty day simple moving average of $28.07 and a 200 day simple moving average of $28.03. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.82. CenterPoint Energy has a twelve month low of $25.42 and a twelve month high of $31.43.
CenterPoint Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy's dividend payout ratio (DPR) is currently 58.82%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on CNP. Barclays boosted their target price on CenterPoint Energy from $28.00 to $29.00 and gave the stock an "underweight" rating in a research report on Thursday, March 14th. Mizuho restated a "neutral" rating and issued a $29.00 target price (down previously from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. Guggenheim lowered their target price on CenterPoint Energy from $33.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, February 21st. KeyCorp increased their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the company an "overweight" rating in a report on Thursday, January 4th. Finally, Evercore ISI lowered CenterPoint Energy from an "outperform" rating to an "in-line" rating and increased their price objective for the company from $29.00 to $30.00 in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $30.18.
Read Our Latest Research Report on CenterPoint Energy
CenterPoint Energy Company Profile
(
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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.
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