Analysts Expect CenterPoint Energy, Inc. (CNP) Will Announce Earnings of $0.20 Per Share
Equities research analysts expect that CenterPoint Energy, Inc. (NYSE:CNP) will post earnings per share (EPS) of $0.20 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for CenterPoint Energy’s earnings, with estimates ranging from $0.19 to $0.21. CenterPoint Energy reported earnings of $0.17 per share in the same quarter last year, which would suggest a positive year over year growth rate of 17.6%. The business is scheduled to announce its next earnings results before the market opens on Thursday, August 3rd.
According to Zacks, analysts expect that CenterPoint Energy will report full year earnings of $1.29 per share for the current year, with EPS estimates ranging from $1.25 to $1.32. For the next financial year, analysts expect that the firm will report earnings of $1.37 per share, with EPS estimates ranging from $1.34 to $1.40. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for CenterPoint Energy.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.14 billion. CenterPoint Energy had a net margin of 5.68% and a return on equity of 15.20%. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS.
Several analysts have recently weighed in on the stock. BidaskClub upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Deutsche Bank AG boosted their target price on shares of CenterPoint Energy from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Finally, J P Morgan Chase & Co initiated coverage on shares of CenterPoint Energy in a research note on Thursday, June 29th. They issued a “neutral” rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. CenterPoint Energy presently has an average rating of “Hold” and an average target price of $27.33.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $27.66, for a total value of $27,660.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CNP. Van ECK Associates Corp raised its stake in CenterPoint Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock valued at $102,000 after buying an additional 564 shares in the last quarter. Johnson Financial Group Inc. increased its position in CenterPoint Energy by 28.8% in the first quarter. Johnson Financial Group Inc. now owns 4,843 shares of the utilities provider’s stock worth $134,000 after buying an additional 1,084 shares in the last quarter. Huntington National Bank increased its position in CenterPoint Energy by 58.1% in the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock worth $168,000 after buying an additional 2,250 shares in the last quarter. Mirador Capital Partners LP purchased a new position in CenterPoint Energy during the first quarter worth about $200,000. Finally, Usca Ria LLC purchased a new position in CenterPoint Energy during the first quarter worth about $204,000. Institutional investors own 77.44% of the company’s stock.
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CenterPoint Energy (CNP) opened at 28.08 on Thursday. CenterPoint Energy has a 52-week low of $21.83 and a 52-week high of $29.08. The stock has a market capitalization of $12.10 billion, a PE ratio of 26.00 and a beta of 0.63. The firm has a 50-day moving average of $27.93 and a 200-day moving average of $27.44.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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