CenterPoint Energy, Inc. (NYSE:CNP) announced a quarterly dividend on Thursday, July 27th, RTT News reports. Shareholders of record on Wednesday, August 16th will be paid a dividend of 0.2675 per share by the utilities provider on Friday, September 8th. This represents a $1.07 dividend on an annualized basis and a yield of 3.80%.

CenterPoint Energy has raised its dividend by an average of 7.5% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. CenterPoint Energy has a dividend payout ratio of 82.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect CenterPoint Energy to earn $1.40 per share next year, which means the company should continue to be able to cover its $1.07 annual dividend with an expected future payout ratio of 76.4%.

Shares of CenterPoint Energy (NYSE CNP) traded up 0.18% during midday trading on Thursday, reaching $28.13. The company’s stock had a trading volume of 2,772,719 shares. CenterPoint Energy has a 12 month low of $21.83 and a 12 month high of $29.08. The company has a 50-day moving average price of $27.93 and a 200-day moving average price of $27.44. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 26.05 and a beta of 0.63.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Friday, May 5th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.14 billion. CenterPoint Energy had a return on equity of 15.20% and a net margin of 5.68%. The firm’s revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. Equities analysts expect that CenterPoint Energy will post $1.31 earnings per share for the current year.

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In other news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $27.66, for a total value of $27,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

Several analysts recently issued reports on CNP shares. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Friday, June 16th. J P Morgan Chase & Co started coverage on CenterPoint Energy in a research note on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price target for the company. Deutsche Bank AG boosted their price target on CenterPoint Energy from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Finally, BidaskClub downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.33.

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.

Dividend History for CenterPoint Energy (NYSE:CNP)

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