CenterPoint Energy (NYSE:CNP) released its quarterly earnings results on Thursday. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10, RTT News reports. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.91 billion. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS.
Shares of CNP stock traded down $0.22 during midday trading on Friday, hitting $28.78. The company had a trading volume of 5,574,393 shares, compared to its average volume of 4,581,452. The company’s 50 day simple moving average is $29.22 and its 200 day simple moving average is $29.10. CenterPoint Energy has a 52-week low of $26.81 and a 52-week high of $31.42. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 3.37 and a beta of 0.47. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.11 and a quick ratio of 0.95.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.2875 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.15 annualized dividend and a dividend yield of 4.00%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 71.88%.
CNP has been the topic of a number of research reports. Barclays upgraded CenterPoint Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $33.00 to $31.00 in a research note on Tuesday, August 13th. UBS Group dropped their price target on CenterPoint Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $30.00 to $32.00 in a research note on Friday, September 6th. SunTrust Banks upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from $30.00 to $32.00 in a research note on Friday, September 6th. Finally, Wells Fargo & Co lowered their target price on CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $31.79.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of CenterPoint Energy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.84, for a total value of $194,880.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 21,000 shares of company stock worth $608,440 over the last quarter. Company insiders own 0.24% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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