Brokers Offer Predictions for CenterPoint Energy, Inc.’s Q2 2022 Earnings (NYSE:CNP)
CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) – Equities research analysts at KeyCorp cut their Q2 2022 earnings estimates for shares of CenterPoint Energy in a note issued to investors on Monday, July 18th. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $0.26 per share for the quarter, down from their previous forecast of $0.28. 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 Q3 2022 earnings at $0.32 EPS.
Other equities analysts also recently issued reports about the stock. Barclays decreased their price target on shares of CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday. Wells Fargo & Company upped their price objective on shares of CenterPoint Energy from $31.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 19th. Morgan Stanley cut their price objective on shares of CenterPoint Energy from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday, June 23rd. Credit Suisse Group assumed coverage on shares of CenterPoint Energy in a research report on Monday, April 25th. They set an “outperform” rating and a $34.00 price objective for the company. Finally, StockNews.com raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Moderate Buy” and an average price target of $31.08.
CenterPoint Energy Price Performance
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Shares of CNP opened at $29.75 on Wednesday. CenterPoint Energy has a 1-year low of $24.33 and a 1-year high of $33.00. The company has a market cap of $18.73 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 5.51 and a beta of 0.87. The company’s fifty day simple moving average is $30.01 and its 200 day simple moving average is $29.43. The company has a current ratio of 0.91, a quick ratio of 0.80 and a debt-to-equity ratio of 1.32.
CenterPoint Energy (NYSE:CNP – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.55 billion. During the same period in the previous year, the firm posted $0.59 EPS.
CenterPoint Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 9th. Investors of record on Thursday, May 19th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, May 18th. CenterPoint Energy’s dividend payout ratio is currently 26.98%.
Hedge Funds Weigh In On CenterPoint Energy
A number of large investors have recently modified their holdings of CNP. JNBA Financial Advisors raised 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 worth $27,000 after purchasing an additional 738 shares during the period. Covestor Ltd increased its holdings in CenterPoint Energy by 176.7% in the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 569 shares during the last quarter. PYA Waltman Capital LLC purchased a new stake in CenterPoint Energy in the 4th quarter worth about $28,000. GHP Investment Advisors Inc. purchased a new stake in CenterPoint Energy in the 1st quarter worth about $28,000. Finally, Standard Family Office LLC purchased a new stake in CenterPoint Energy in the 4th quarter worth about $36,000. 90.98% of the stock is currently owned by institutional investors.
About CenterPoint Energy
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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