CenterPoint Energy (NYSE:CNP) Releases FY 2024 Earnings Guidance

CenterPoint Energy (NYSE:CNP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.610-1.630 for the period, compared to the consensus estimate of 1.620. The company issued revenue guidance of -. CenterPoint Energy also updated its FY24 guidance to $1.61-1.63 EPS.

CenterPoint Energy Price Performance

Shares of NYSE:CNP traded up $0.15 during trading on Wednesday, hitting $29.29. 1,767,100 shares of the company were exchanged, compared to its average volume of 4,232,389. The business’s 50 day moving average is $28.09 and its 200-day moving average is $28.04. The company has a market capitalization of $18.54 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 2.57 and a beta of 0.92. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.82. CenterPoint Energy has a 1-year low of $25.42 and a 1-year high of $31.43.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.82 billion. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same period in the prior year, the business posted $0.50 earnings per share. Equities analysts forecast that CenterPoint Energy will post 1.62 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.73%. CenterPoint Energy’s payout ratio is 58.82%.

Analysts Set New Price Targets

CNP has been the topic of a number of research analyst reports. Guggenheim cut their price target on shares of CenterPoint Energy from $33.00 to $32.00 and set a buy rating on the stock in a research report on Wednesday, February 21st. Barclays increased their price objective on shares of CenterPoint Energy from $28.00 to $29.00 and gave the stock an underweight rating in a research report on Thursday, March 14th. Evercore ISI cut shares of CenterPoint Energy from an outperform rating to an in-line rating and increased their price objective for the stock from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Mizuho reissued a neutral rating and set a $29.00 price objective (down previously from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Finally, KeyCorp increased their price objective on shares of CenterPoint Energy from $29.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $30.18.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.