Wall Street analysts forecast that CenterPoint Energy, Inc. (NYSE:CNP) will announce sales of $2.16 billion for the current quarter, Zacks reports. Two analysts have issued estimates for CenterPoint Energy’s earnings, with the highest sales estimate coming in at $2.17 billion and the lowest estimate coming in at $2.15 billion. CenterPoint Energy reported sales of $2.14 billion in the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The company is expected to issue its next earnings results on Thursday, August 2nd.
On average, analysts expect that CenterPoint Energy will report full-year sales of $9.51 billion for the current fiscal year, with estimates ranging from $8.67 billion to $10.09 billion. For the next fiscal year, analysts anticipate that the business will post sales of $9.62 billion per share, with estimates ranging from $8.88 billion to $10.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CenterPoint Energy.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, May 4th. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.11. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $2.69 billion. CenterPoint Energy had a return on equity of 16.22% and a net margin of 17.59%. CenterPoint Energy’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS.
NYSE CNP traded up $0.54 during trading on Friday, hitting $26.18. The stock had a trading volume of 3,977,700 shares, compared to its average volume of 4,785,185. The company has a market cap of $10.88 billion, a P/E ratio of 19.11, a P/E/G ratio of 3.01 and a beta of 0.53. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.17 and a quick ratio of 1.07. CenterPoint Energy has a twelve month low of $24.81 and a twelve month high of $30.45.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 17th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Wednesday, May 16th. CenterPoint Energy’s payout ratio is presently 81.02%.
In other news, Chairman Milton Carroll sold 62,779 shares of CenterPoint Energy stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $26.10, for a total value of $1,638,531.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of CenterPoint Energy stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $25.38, for a total value of $101,520.00. The disclosure for this sale can be found here. Insiders sold a total of 77,979 shares of company stock valued at $2,036,020 in the last quarter. Company insiders own 0.22% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. KCM Investment Advisors LLC boosted its stake in shares of CenterPoint Energy by 2.9% in the 4th quarter. KCM Investment Advisors LLC now owns 68,223 shares of the utilities provider’s stock valued at $1,935,000 after buying an additional 1,936 shares during the period. Xact Kapitalforvaltning AB lifted its stake in CenterPoint Energy by 10.1% during the fourth quarter. Xact Kapitalforvaltning AB now owns 38,177 shares of the utilities provider’s stock worth $1,083,000 after purchasing an additional 3,503 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in CenterPoint Energy by 890.4% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 17,768 shares of the utilities provider’s stock worth $995,000 after purchasing an additional 15,974 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in CenterPoint Energy by 70.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 291,080 shares of the utilities provider’s stock worth $8,257,000 after purchasing an additional 120,596 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in CenterPoint Energy by 37.5% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 30,800 shares of the utilities provider’s stock worth $873,000 after purchasing an additional 8,400 shares during the last quarter. Institutional investors and hedge funds own 79.13% of the company’s stock.
CenterPoint Energy Company Profile
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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