CenterPoint Energy, Inc. (NYSE:CNP) Declares Quarterly Dividend of $0.27
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.
TRADEMARK VIOLATION NOTICE: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/07/27/centerpoint-energy-inc-nysecnp-declares-quarterly-dividend-of-0-27.html.
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.
Receive News & Ratings for CenterPoint Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.