CenterPoint Energy (NYSE:CNP) released its quarterly earnings results on Thursday. The utilities provider reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02), MarketWatch Earnings reports. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.26 billion. CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. CenterPoint Energy’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 earnings per share. CenterPoint Energy updated its FY18 guidance to $1.50-1.60 EPS and its FY 2018 guidance to $1.55-1.60 EPS.
CNP stock traded up $0.01 during mid-day trading on Friday, hitting $28.07. 168,817 shares of the company were exchanged, compared to its average volume of 4,952,630. The firm has a market cap of $13.93 billion, a P/E ratio of 20.50, a P/E/G ratio of 2.99 and a beta of 0.43. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.83. CenterPoint Energy has a twelve month low of $24.81 and a twelve month high of $30.17.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Wednesday, November 14th. CenterPoint Energy’s dividend payout ratio is currently 81.02%.
A number of research firms recently weighed in on CNP. Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a report on Friday. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. ValuEngine lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Barclays assumed coverage on shares of CenterPoint Energy in a report on Monday, October 22nd. They set a “hold” rating and a $30.00 price target for the company. Finally, SunTrust Banks reissued a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a report on Monday, August 6th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CenterPoint Energy currently has a consensus rating of “Hold” and an average target price of $29.33.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $27.09, for a total transaction of $108,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of CNP. Bank of New York Mellon Corp lifted its position in CenterPoint Energy by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,558,975 shares of the utilities provider’s stock valued at $126,055,000 after purchasing an additional 74,585 shares during the last quarter. Artemis Investment Management LLP bought a new stake in CenterPoint Energy in the 3rd quarter valued at about $10,863,000. AXA lifted its position in CenterPoint Energy by 274.9% in the 3rd quarter. AXA now owns 346,129 shares of the utilities provider’s stock valued at $9,571,000 after purchasing an additional 253,800 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in CenterPoint Energy by 10.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 584,823 shares of the utilities provider’s stock valued at $16,179,000 after purchasing an additional 55,940 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in CenterPoint Energy by 6.6% in the 3rd quarter. Alliancebernstein L.P. now owns 978,720 shares of the utilities provider’s stock valued at $27,062,000 after purchasing an additional 60,311 shares during the last quarter. Institutional investors own 67.52% 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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