CenterPoint Energy, Inc. (NYSE:CNP) declared a quarterly dividend on Wednesday, October 25th, RTT News reports. Investors of record on Thursday, November 16th will be paid a dividend of 0.2675 per share by the utilities provider on Friday, December 8th. This represents a $1.07 annualized dividend and a yield of 3.64%.

CenterPoint Energy has raised its dividend payment by an average of 7.5% annually over the last three years and has increased its dividend every year for the last 11 years. CenterPoint Energy has a payout ratio of 81.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect CenterPoint Energy to earn $1.42 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 75.4%.

Shares of CenterPoint Energy (NYSE:CNP) traded up 0.99% on Thursday, reaching $29.67. 227,297 shares of the company traded hands. The firm has a 50-day moving average of $29.52 and a 200-day moving average of $28.59. CenterPoint Energy has a 52-week low of $21.91 and a 52-week high of $30.45. The company has a market capitalization of $12.79 billion, a PE ratio of 21.19 and a beta of 0.62.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business posted $0.17 earnings per share. CenterPoint Energy’s revenue was up 36.1% compared to the same quarter last year. On average, equities research analysts forecast that CenterPoint Energy will post $1.33 earnings per share for the current fiscal year.

Several brokerages recently issued reports on CNP. J P Morgan Chase & Co began coverage on CenterPoint Energy in a research note on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price objective for the company. BidaskClub downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Credit Suisse Group raised CenterPoint Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $28.82 to $29.00 in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $29.00 price objective on shares of CenterPoint Energy in a research note on Monday, September 11th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. CenterPoint Energy has an average rating of “Hold” and an average target price of $28.33.

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In other news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $29.61, for a total transaction of $29,610.00. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have sold 3,000 shares of company stock worth $86,920. 0.20% of the stock is currently owned by insiders.

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.

Dividend History for CenterPoint Energy (NYSE:CNP)

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