CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) – Research analysts at KeyCorp upped their FY2022 earnings per share estimates for shares of CenterPoint Energy in a research note issued on Thursday, August 4th. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $1.38 per share for the year, up from their previous estimate of $1.37. KeyCorp currently has a “Overweight” rating and a $32.00 target price on the stock. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.38 per share. KeyCorp also issued estimates for CenterPoint Energy’s Q4 2022 earnings at $0.29 EPS, FY2023 earnings at $1.50 EPS, FY2024 earnings at $1.64 EPS, FY2025 earnings at $1.76 EPS and FY2026 earnings at $1.92 EPS.
Several other equities analysts also recently issued reports on CNP. StockNews.com raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, May 10th. Barclays reduced their price target on shares of CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Morgan Stanley increased their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 21st. Wells Fargo & Company increased their price target 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, Credit Suisse Group initiated coverage on CenterPoint Energy in a research report on Monday, April 25th. They set an “outperform” rating and a $34.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.25.
CenterPoint Energy Price Performance
CenterPoint Energy (NYSE:CNP – Get Rating) last announced its earnings results on Tuesday, August 2nd. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. CenterPoint Energy had a net margin of 18.16% and a return on equity of 10.92%. During the same quarter last year, the firm posted $0.36 EPS.
Institutional Investors Weigh In On CenterPoint Energy
Several large investors have recently bought and sold shares of the business. JNBA Financial Advisors grew its stake in shares of CenterPoint Energy by 335.5% during the 4th quarter. JNBA Financial Advisors now owns 958 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 738 shares during the period. Canton Hathaway LLC purchased a new stake in CenterPoint Energy in the 2nd quarter worth approximately $27,000. Covestor Ltd raised its position in shares of CenterPoint Energy by 176.7% during the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 569 shares during the period. PYA Waltman Capital LLC bought a new stake in shares of CenterPoint Energy during the 4th quarter valued at $28,000. Finally, GHP Investment Advisors Inc. purchased a new position in CenterPoint Energy during the first quarter valued at $28,000. 90.98% of the stock is currently owned by institutional investors.
CenterPoint Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 18th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.29%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 17th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 27.98%.
CenterPoint Energy Company Profile
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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