Wall Street brokerages expect that CenterPoint Energy, Inc. (NYSE:CNP) will post sales of $2.91 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for CenterPoint Energy’s earnings, with the highest sales estimate coming in at $2.96 billion and the lowest estimate coming in at $2.85 billion. CenterPoint Energy reported sales of $2.21 billion during the same quarter last year, which indicates a positive year over year growth rate of 31.7%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, November 7th.
According to Zacks, analysts expect that CenterPoint Energy will report full year sales of $12.54 billion for the current year, with estimates ranging from $10.83 billion to $13.75 billion. For the next fiscal year, analysts anticipate that the business will report sales of $12.92 billion, with estimates ranging from $10.92 billion to $14.28 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover CenterPoint Energy.
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, beating 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 during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis.
In related news, CEO Scott M. Prochazka sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.84, for a total transaction of $194,880.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 21,000 shares of company stock worth $608,510. Corporate insiders own 0.24% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Federated Investors Inc. PA increased its position in CenterPoint Energy by 3.9% in the first quarter. Federated Investors Inc. PA now owns 180,161 shares of the utilities provider’s stock worth $5,531,000 after buying an additional 6,836 shares during the period. Private Advisor Group LLC increased its position in CenterPoint Energy by 9.4% in the first quarter. Private Advisor Group LLC now owns 43,322 shares of the utilities provider’s stock worth $1,330,000 after buying an additional 3,723 shares during the period. OppenheimerFunds Inc. increased its position in CenterPoint Energy by 12.4% in the first quarter. OppenheimerFunds Inc. now owns 979,692 shares of the utilities provider’s stock worth $30,077,000 after buying an additional 107,966 shares during the period. Commonwealth Equity Services LLC increased its position in CenterPoint Energy by 4.4% in the first quarter. Commonwealth Equity Services LLC now owns 136,701 shares of the utilities provider’s stock worth $4,196,000 after buying an additional 5,821 shares during the period. Finally, Neuberger Berman Group LLC increased its position in CenterPoint Energy by 22.5% in the first quarter. Neuberger Berman Group LLC now owns 773,351 shares of the utilities provider’s stock worth $23,741,000 after buying an additional 142,111 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CNP traded up $0.44 on Friday, reaching $28.62. 6,323,178 shares of the company traded hands, compared to its average volume of 4,619,267. CenterPoint Energy has a fifty-two week low of $26.74 and a fifty-two week high of $31.42. The company has a 50 day moving average of $29.05 and a 200 day moving average of $29.27. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $14.20 billion, a PE ratio of 17.89, a P/E/G ratio of 3.13 and a beta of 0.48.
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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