CenterPoint Energy, Inc. (NYSE:CNP) – SunTrust Banks lifted their Q2 2019 earnings per share estimates for shares of CenterPoint Energy in a report released on Friday, May 10th. SunTrust Banks analyst A. Agha now forecasts that the utilities provider will earn $0.34 per share for the quarter, up from their previous estimate of $0.31. SunTrust Banks also issued estimates for CenterPoint Energy’s Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.40 EPS, FY2019 earnings at $1.63 EPS, Q1 2020 earnings at $0.51 EPS, Q2 2020 earnings at $0.38 EPS, Q3 2020 earnings at $0.48 EPS, Q4 2020 earnings at $0.44 EPS, FY2020 earnings at $1.81 EPS, Q1 2021 earnings at $0.54 EPS and FY2021 earnings at $1.91 EPS.
Several other equities research analysts also recently weighed in on CNP. Credit Suisse Group set a $33.00 price objective on CenterPoint Energy and gave the company a “buy” rating in a report on Monday, April 22nd. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. ValuEngine downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Wells Fargo & Co reissued a “buy” rating on shares of CenterPoint Energy in a report on Thursday, February 28th. Finally, Goldman Sachs Group assumed coverage on CenterPoint Energy in a report on Monday, February 25th. They issued a “buy” rating and a $34.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $32.44.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.84 billion. CenterPoint Energy had a net margin of 3.39% and a return on equity of 12.34%. CenterPoint Energy’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of CNP. Teachers Advisors LLC lifted its holdings in CenterPoint Energy by 5.2% in the third quarter. Teachers Advisors LLC now owns 1,758,093 shares of the utilities provider’s stock valued at $48,611,000 after acquiring an additional 86,653 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in CenterPoint Energy by 2.4% in the third quarter. TIAA CREF Investment Management LLC now owns 1,160,870 shares of the utilities provider’s stock valued at $32,098,000 after acquiring an additional 27,645 shares during the period. Legal & General Group Plc lifted its holdings in CenterPoint Energy by 12.5% in the third quarter. Legal & General Group Plc now owns 3,403,059 shares of the utilities provider’s stock valued at $94,087,000 after acquiring an additional 378,031 shares during the period. Vanguard Group Inc lifted its holdings in CenterPoint Energy by 10.6% in the third quarter. Vanguard Group Inc now owns 54,775,862 shares of the utilities provider’s stock valued at $1,514,553,000 after acquiring an additional 5,270,138 shares during the period. Finally, Federated Investors Inc. PA lifted its holdings in CenterPoint Energy by 375.5% in the third quarter. Federated Investors Inc. PA now owns 107,526 shares of the utilities provider’s stock valued at $2,972,000 after acquiring an additional 84,912 shares during the period. 81.73% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Joseph John Vortherms sold 2,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $30.10, for a total transaction of $60,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $29.98, for a total value of $119,920.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,000 shares of company stock valued at $4,077,030. Corporate insiders own 0.24% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be issued a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio is presently 71.88%.
About CenterPoint Energy
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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