Analysts expect CenterPoint Energy, Inc. (NYSE:CNP) to announce $2.12 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for CenterPoint Energy’s earnings. The highest sales estimate is $2.13 billion and the lowest is $2.11 billion. CenterPoint Energy reported sales of $2.10 billion during the same quarter last year, which indicates a positive year over year growth rate of 1%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, November 8th.
According to Zacks, analysts expect that CenterPoint Energy will report full-year sales of $9.62 billion for the current fiscal year, with estimates ranging from $8.67 billion to $10.11 billion. For the next financial year, analysts anticipate that the firm will report sales of $9.34 billion, with estimates ranging from $8.88 billion to $9.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover CenterPoint Energy.
CNP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 9th. ValuEngine raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. SunTrust Banks reaffirmed a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 6th. Finally, Wells Fargo & Co raised shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday, October 8th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $29.33.
In other news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $27.54, for a total transaction of $110,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Milton Carroll sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,000 shares of company stock valued at $501,220. Insiders own 0.22% of the company’s stock.
Several hedge funds have recently made changes to their positions in CNP. Oppenheimer & Co. Inc. lifted its holdings in shares of CenterPoint Energy by 18.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 1,771 shares in the last quarter. First Allied Advisory Services Inc. lifted its holdings in shares of CenterPoint Energy by 18.9% in the 2nd quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock worth $331,000 after purchasing an additional 1,865 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of CenterPoint Energy by 3.5% in the 2nd quarter. Amalgamated Bank now owns 55,555 shares of the utilities provider’s stock worth $1,539,000 after purchasing an additional 1,885 shares in the last quarter. Northpointe Capital LLC lifted its holdings in shares of CenterPoint Energy by 2.0% in the 2nd quarter. Northpointe Capital LLC now owns 98,431 shares of the utilities provider’s stock worth $2,728,000 after purchasing an additional 1,927 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of CenterPoint Energy by 5.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 38,624 shares of the utilities provider’s stock worth $1,070,000 after purchasing an additional 1,989 shares in the last quarter. 67.52% of the stock is owned by institutional investors.
NYSE:CNP traded up $0.31 on Thursday, reaching $27.80. 3,969,621 shares of the stock traded hands, compared to its average volume of 4,708,912. The company has a market capitalization of $13.51 billion, a PE ratio of 20.29, a P/E/G ratio of 2.90 and a beta of 0.43. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95. CenterPoint Energy has a 1-year low of $24.81 and a 1-year high of $30.17.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Wednesday, November 14th. CenterPoint Energy’s dividend payout ratio (DPR) is 81.02%.
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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