CenterPoint Energy (CNP) Issues Earnings Results, Misses Estimates By $0.06 EPS

CenterPoint Energy (NYSE:CNP) issued its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06), MarketWatch Earnings reports. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.84 billion. CenterPoint Energy had a net margin of 3.39% and a return on equity of 13.31%. CenterPoint Energy’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS.

NYSE CNP opened at $28.44 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 2.12. CenterPoint Energy has a fifty-two week low of $25.10 and a fifty-two week high of $31.42. The firm has a market cap of $14.29 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 3.25 and a beta of 0.45.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.2875 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.04%. CenterPoint Energy’s payout ratio is presently 71.88%.

In other CenterPoint Energy news, VP Joseph John Vortherms sold 2,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $30.10, for a total value of $60,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $30.58, for a total transaction of $214,060.00. The disclosure for this sale can be found here. In the last three months, insiders sold 162,780 shares of company stock worth $4,901,696. 0.24% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc raised its position in CenterPoint Energy by 10.6% during the 3rd quarter. Vanguard Group Inc now owns 54,775,862 shares of the utilities provider’s stock worth $1,514,553,000 after buying an additional 5,270,138 shares during the last quarter. Norges Bank purchased a new stake in CenterPoint Energy in the 4th quarter valued at about $146,903,000. FMR LLC raised its holdings in CenterPoint Energy by 114.6% in the 4th quarter. FMR LLC now owns 6,472,243 shares of the utilities provider’s stock valued at $182,711,000 after buying an additional 3,456,131 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in CenterPoint Energy in the 1st quarter valued at about $69,287,000. Finally, AQR Capital Management LLC grew its position in CenterPoint Energy by 48.4% in the 1st quarter. AQR Capital Management LLC now owns 6,221,359 shares of the utilities provider’s stock valued at $190,995,000 after acquiring an additional 2,028,212 shares in the last quarter. 78.35% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Goldman Sachs Group began coverage on CenterPoint Energy in a report on Monday, February 25th. They set a “buy” rating and a $34.00 target price for the company. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Credit Suisse Group set a $33.00 price target on CenterPoint Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, ValuEngine upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $32.33.

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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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Earnings History for CenterPoint Energy (NYSE:CNP)

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