KeyCorp Decreases Earnings Estimates for CenterPoint Energy

CenterPoint Energy, Inc. (NYSE:CNP) – Research analysts at KeyCorp cut their FY2024 EPS estimates for shares of CenterPoint Energy in a note issued to investors on Monday, October 21st. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $1.61 per share for the year, down from their previous forecast of $1.62. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for CenterPoint Energy’s current full-year earnings is $1.62 per share. KeyCorp also issued estimates for CenterPoint Energy’s FY2026 earnings at $1.86 EPS.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $0.28 earnings per share.

A number of other brokerages have also commented on CNP. Scotiabank dropped their price target on CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 20th. JPMorgan Chase & Co. cut shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $29.00 in a research report on Friday, August 2nd. StockNews.com cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. BMO Capital Markets restated a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a report on Monday, August 26th. Finally, Bank of America started coverage on CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.91.

CenterPoint Energy Price Performance

Shares of CNP stock opened at $29.49 on Thursday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.99 and a current ratio of 1.20. CenterPoint Energy has a fifty-two week low of $25.41 and a fifty-two week high of $31.57. The firm has a market cap of $18.87 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.56 and a beta of 0.92. The business’s 50 day moving average price is $28.44 and its 200-day moving average price is $28.93.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.21 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.84 annualized dividend and a dividend yield of 2.85%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s dividend payout ratio is presently 59.15%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new position in shares of CenterPoint Energy during the fourth quarter valued at $230,000. Wealth Enhancement Advisory Services LLC raised its holdings in CenterPoint Energy by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 28,321 shares of the utilities provider’s stock worth $807,000 after buying an additional 574 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of CenterPoint Energy by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,531,757 shares of the utilities provider’s stock worth $43,640,000 after buying an additional 10,190 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of CenterPoint Energy by 3.5% during the first quarter. First Trust Direct Indexing L.P. now owns 13,224 shares of the utilities provider’s stock valued at $377,000 after buying an additional 447 shares during the last quarter. Finally, Leeward Investments LLC MA increased its position in shares of CenterPoint Energy by 4.0% during the first quarter. Leeward Investments LLC MA now owns 569,745 shares of the utilities provider’s stock valued at $16,232,000 after acquiring an additional 21,907 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

About CenterPoint Energy

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