CenterPoint Energy (NYSE:CNP) Issues Earnings Results, Beats Estimates By $0.04 EPS

CenterPoint Energy (NYSE:CNP) released its quarterly earnings results on Tuesday. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04, Briefing.com reports. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. During the same quarter last year, the business posted $0.28 EPS. CenterPoint Energy updated its FY 2024 guidance to 1.610-1.630 EPS and its FY24 guidance to $1.62 EPS.

CenterPoint Energy Price Performance

Shares of CenterPoint Energy stock traded down $0.76 during trading on Wednesday, reaching $27.76. The company’s stock had a trading volume of 11,122,936 shares, compared to its average volume of 4,803,708. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 1.81. CenterPoint Energy has a 12-month low of $25.42 and a 12-month high of $31.57. The company has a market capitalization of $17.76 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 2.57 and a beta of 0.92. The business has a 50 day moving average price of $29.97 and a 200-day moving average price of $28.87.

Wall Street Analysts Forecast Growth

CNP has been the topic of a number of research reports. StockNews.com upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Scotiabank dropped their price target on 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. BMO Capital Markets dropped their price target on CenterPoint Energy from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley downgraded CenterPoint Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $30.00 to $29.00 in a research note on Wednesday, July 17th. Finally, KeyCorp lowered their target price on CenterPoint Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.50.

Insider Activity at CenterPoint Energy

In related news, Director Barry T. Smitherman sold 5,670 shares of CenterPoint Energy stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $29.42, for a total value of $166,811.40. Following the sale, the director now directly owns 21,203 shares in the company, valued at $623,792.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

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.