Analysts Anticipate CenterPoint Energy, Inc. (NYSE:CNP) Will Post Quarterly Sales of $1.72 Billion

Brokerages expect that CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) will report sales of $1.72 billion for the current fiscal quarter, according to Zacks. Three analysts have made estimates for CenterPoint Energy’s earnings, with the lowest sales estimate coming in at $1.70 billion and the highest estimate coming in at $1.74 billion. CenterPoint Energy posted sales of $1.74 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 1.1%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that CenterPoint Energy will report full year sales of $8.28 billion for the current year, with estimates ranging from $8.25 billion to $8.34 billion. For the next year, analysts anticipate that the firm will post sales of $8.65 billion, with estimates ranging from $8.61 billion to $8.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover CenterPoint Energy.

CenterPoint Energy (NYSE:CNP – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). CenterPoint Energy had a net margin of 19.30% and a return on equity of 12.10%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share.

A number of research analysts recently commented on the company. KeyCorp increased their price target on CenterPoint Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, April 20th. Credit Suisse Group initiated coverage on CenterPoint Energy in a report on Monday, April 25th. They issued an “outperform” rating and a $34.00 price target on the stock. UBS Group raised CenterPoint Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $27.00 to $30.00 in a report on Tuesday, February 15th. Wells Fargo & Company raised their target price on CenterPoint Energy from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, April 19th. Finally, Morgan Stanley raised their target price on CenterPoint Energy from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $31.07.

A number of institutional investors have recently bought and sold shares of the business. Raymond James Trust N.A. boosted its stake in CenterPoint Energy by 59.0% in the first quarter. Raymond James Trust N.A. now owns 14,757 shares of the utilities provider’s stock worth $452,000 after purchasing an additional 5,475 shares in the last quarter. Yousif Capital Management LLC boosted its stake in CenterPoint Energy by 25.5% in the first quarter. Yousif Capital Management LLC now owns 126,812 shares of the utilities provider’s stock worth $3,886,000 after purchasing an additional 25,770 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in CenterPoint Energy by 9.3% in the first quarter. Great West Life Assurance Co. Can now owns 652,454 shares of the utilities provider’s stock worth $21,165,000 after purchasing an additional 55,686 shares in the last quarter. Exencial Wealth Advisors LLC acquired a new position in CenterPoint Energy in the first quarter worth $243,000. Finally, Cranbrook Wealth Management LLC acquired a new position in CenterPoint Energy in the first quarter worth $130,000. 90.98% of the stock is currently owned by institutional investors.

Shares of NYSE:CNP opened at $30.39 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 1.57. CenterPoint Energy has a 12 month low of $23.58 and a 12 month high of $33.00. The firm has a market capitalization of $19.13 billion, a PE ratio of 12.06, a P/E/G ratio of 5.72 and a beta of 0.88. The business has a 50-day moving average of $30.60 and a two-hundred day moving average of $28.38.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 18th. CenterPoint Energy’s dividend payout ratio is currently 26.98%.

CenterPoint Energy Company Profile (Get Rating)

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

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