CenterPoint Energy, Inc. Declares Quarterly Dividend of $0.29 (NYSE:CNP)

CenterPoint Energy, Inc. (NYSE:CNP) announced a quarterly dividend on Wednesday, July 31st, RTT News reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.2875 per share by the utilities provider on Thursday, September 12th. This represents a $1.15 annualized dividend and a yield of 4.14%. The ex-dividend date is Wednesday, August 14th.

CenterPoint Energy has raised its dividend by an average of 3.9% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. CenterPoint Energy has a dividend payout ratio of 71.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CenterPoint Energy to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 63.9%.

Shares of CNP opened at $27.76 on Tuesday. CenterPoint Energy has a fifty-two week low of $26.74 and a fifty-two week high of $31.42. The business’s 50 day simple moving average is $28.80. The stock has a market cap of $13.87 billion, a P/E ratio of 17.35, a P/E/G ratio of 3.27 and a beta of 0.46. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.95 and a current ratio of 1.11.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. CenterPoint Energy had a net margin of 5.55% and a return on equity of 13.59%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, research analysts predict that CenterPoint Energy will post 1.64 earnings per share for the current year.

In related news, Chairman Milton Carroll sold 12,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $29.76, for a total transaction of $357,120.00. Following the completion of the sale, the chairman now owns 98,301 shares in the company, valued at approximately $2,925,437.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $28.40, for a total transaction of $198,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,780 shares of company stock valued at $1,545,396. 0.24% of the stock is owned by company insiders.

Several research firms have commented on CNP. Credit Suisse Group set a $33.00 price target on shares of CenterPoint Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Bank of America upgraded shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 price target for the company in a report on Thursday, June 13th. They noted that the move was a valuation call. Barclays upgraded shares of CenterPoint Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $33.00 to $31.00 in a report on Tuesday. Goldman Sachs Group boosted their price target on shares of CenterPoint Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Mizuho initiated coverage on shares of CenterPoint Energy in a report on Monday, June 3rd. They set a “buy” rating and a $31.00 price target for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. CenterPoint Energy presently has an average rating of “Buy” and a consensus price target of $31.85.

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.

See Also: Liquidity

Dividend History for CenterPoint Energy (NYSE:CNP)

Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with's FREE daily email newsletter.