CenterPoint Energy, Inc. (CNP) Issues Quarterly Earnings Results, Meets Estimates
CenterPoint Energy, Inc. (NYSE:CNP) issued its quarterly earnings results on Friday. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39, Briefing.com reports. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. CenterPoint Energy updated its FY17 guidance to $1.25-1.33 EPS.
Shares of CenterPoint Energy (CNP) traded down $0.12 during mid-day trading on Friday, hitting $29.59. The stock had a trading volume of 3,003,782 shares, compared to its average volume of 2,581,365. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 2.13. The company has a market cap of $12,754.00, a PE ratio of 22.59, a PEG ratio of 4.08 and a beta of 0.64. CenterPoint Energy has a one year low of $22.32 and a one year high of $30.45.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 16th will be issued a dividend of $0.2675 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.07 annualized dividend and a yield of 3.62%. CenterPoint Energy’s dividend payout ratio is currently 78.10%.
Several research analysts recently issued reports on CNP shares. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Royal Bank Of Canada reiterated a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a research report on Monday, September 11th. Credit Suisse Group raised CenterPoint Energy from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $28.82 to $29.00 in a report on Monday, August 14th. J P Morgan Chase & Co set a $30.00 price objective on CenterPoint Energy and gave the stock a “hold” rating in a report on Thursday, October 12th. Finally, BidaskClub cut CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Nine research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. CenterPoint Energy currently has a consensus rating of “Hold” and an average target price of $28.75.
TRADEMARK VIOLATION NOTICE: This news story was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/11/04/centerpoint-energy-inc-cnp-issues-quarterly-earnings-results-meets-estimates.html.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $29.61, for a total value of $29,610.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 3,000 shares of company stock valued at $88,300. 0.20% of the stock is currently owned by company insiders.
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.