CenterPoint Energy (NYSE:CNP) Updates FY24 Earnings Guidance

CenterPoint Energy (NYSE:CNP - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.61-1.63 for the period, compared to the consensus estimate of $1.62. CenterPoint Energy also updated its FY 2024 guidance to 1.610-1.630 EPS.

CenterPoint Energy Trading Down 0.3 %

Shares of NYSE:CNP traded down $0.08 during trading on Tuesday, reaching $29.14. The stock had a trading volume of 7,372,799 shares, compared to its average volume of 4,263,375. The firm's fifty day moving average is $28.07 and its 200 day moving average is $28.03. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. CenterPoint Energy has a 52 week low of $25.42 and a 52 week high of $31.43. The stock has a market cap of $18.45 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 2.54 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. CenterPoint Energy had a net margin of 10.55% and a return on equity of 10.44%. During the same period last year, the company posted $0.50 EPS. As a group, equities analysts forecast that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy's dividend payout ratio is presently 58.82%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Guggenheim cut their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set a buy rating on the stock in a research note on Wednesday, February 21st. Barclays raised their price objective on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an underweight rating in a research note on Thursday, March 14th. Scotiabank dropped their price objective on shares of CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. KeyCorp raised their price objective on shares of CenterPoint Energy from $29.00 to $31.00 and gave the company an overweight rating in a research note on Thursday, January 4th. Finally, Evercore ISI lowered shares of CenterPoint Energy from an outperform rating to an in-line rating and raised their price objective for the company from $29.00 to $30.00 in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, CenterPoint Energy has an average rating of Hold and a consensus price target of $30.18.

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.