Q3 2017 EPS Estimates for CenterPoint Energy, Inc. (NYSE:CNP) Decreased by Analyst
CenterPoint Energy, Inc. (NYSE:CNP) – SunTrust Banks dropped their Q3 2017 earnings per share estimates for shares of CenterPoint Energy in a note issued to investors on Friday. SunTrust Banks analyst A. Agha now forecasts that the utilities provider will earn $0.41 per share for the quarter, down from their previous estimate of $0.45. SunTrust Banks also issued estimates for CenterPoint Energy’s Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $1.33 EPS, Q1 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.28 EPS, FY2018 earnings at $1.41 EPS, Q1 2019 earnings at $0.41 EPS and FY2019 earnings at $1.49 EPS.
Several other research firms have also weighed in on CNP. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Deutsche Bank AG increased their target price on shares of CenterPoint Energy from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Finally, J P Morgan Chase & Co assumed coverage on shares of CenterPoint Energy in a report on Thursday, June 29th. They issued a “neutral” rating and a $29.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $27.33.
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CenterPoint Energy (CNP) opened at 28.54 on Monday. The stock has a market capitalization of $12.30 billion, a PE ratio of 26.43 and a beta of 0.64. The firm’s 50-day moving average is $27.92 and its 200 day moving average is $27.54. CenterPoint Energy has a 52-week low of $21.83 and a 52-week high of $29.08.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the company posted $0.17 EPS. The company’s quarterly revenue was up 36.1% compared to the same quarter last year.
Large investors have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of CenterPoint Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock worth $102,000 after buying an additional 564 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of 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 during the last quarter. Huntington National Bank raised its stake in shares of 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 during the last quarter. Mirador Capital Partners LP bought a new stake in shares of CenterPoint Energy during the first quarter worth approximately $200,000. Finally, Usca Ria LLC bought a new stake in shares of CenterPoint Energy during the first quarter worth approximately $204,000. Institutional investors and hedge funds own 77.16% of the company’s stock.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $27.66, for a total transaction of $27,660.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 3,000 shares of company stock worth $84,560. 0.20% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.2675 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.75%. CenterPoint Energy’s payout ratio is 76.98%.
CenterPoint Energy Company Profile
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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