Wall Street analysts predict that CenterPoint Energy, Inc. (NYSE:CNP) will announce sales of $2.15 billion for the current quarter, according to Zacks. Two analysts have made estimates for CenterPoint Energy’s earnings, with the highest sales estimate coming in at $2.20 billion and the lowest estimate coming in at $2.10 billion. CenterPoint Energy posted sales of $2.08 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.4%. The company is expected to issue its next earnings results before the market opens on Thursday, February 22nd.
On average, analysts expect that CenterPoint Energy will report full-year sales of $2.15 billion for the current financial year, with estimates ranging from $7.98 billion to $9.17 billion. For the next fiscal year, analysts forecast that the business will report sales of $8.53 billion per share, with estimates ranging from $8.21 billion to $9.12 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for CenterPoint Energy.
CNP has been the subject of a number of research analyst reports. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Friday, February 2nd. Bank of America initiated coverage on CenterPoint Energy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price target for the company. Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. They noted that the move was a valuation call. Citigroup lifted their price target on CenterPoint Energy from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, November 20th. Finally, SunTrust Banks reiterated a “hold” rating and set a $28.00 price target on shares of CenterPoint Energy in a research report on Tuesday, December 26th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $29.33.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Wednesday, February 14th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s dividend payout ratio (DPR) is 78.10%.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $27.91, for a total value of $27,910.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 3,000 shares of company stock valued at $85,410 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd bought a new stake in CenterPoint Energy in the 2nd quarter worth approximately $678,000. Nomura Asset Management Co. Ltd. lifted its position in CenterPoint Energy by 6.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 65,817 shares of the utilities provider’s stock worth $1,922,000 after buying an additional 4,236 shares during the last quarter. Shell Asset Management Co. lifted its position in CenterPoint Energy by 196.2% in the 3rd quarter. Shell Asset Management Co. now owns 61,861 shares of the utilities provider’s stock worth $1,514,000 after buying an additional 40,976 shares during the last quarter. Stifel Financial Corp lifted its position in CenterPoint Energy by 36.3% in the 3rd quarter. Stifel Financial Corp now owns 101,185 shares of the utilities provider’s stock worth $2,960,000 after buying an additional 26,964 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in CenterPoint Energy by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 145,724 shares of the utilities provider’s stock worth $3,989,000 after buying an additional 29,740 shares during the last quarter. Institutional investors own 77.87% of the company’s stock.
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.
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