CenterPoint Energy, Inc. (NYSE:CNP) announced a quarterly dividend on Wednesday, July 29th, RTT News reports. Stockholders of record on Thursday, August 20th will be given a dividend of 0.15 per share by the utilities provider on Thursday, September 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.14%.
CenterPoint Energy has increased its dividend payment by an average of 11.7% annually over the last three years and has increased its dividend every year for the last 14 years. CenterPoint Energy has a dividend payout ratio of 46.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CenterPoint Energy to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 43.8%.
Shares of NYSE:CNP opened at $19.13 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 2.64. CenterPoint Energy has a 1 year low of $11.58 and a 1 year high of $30.71. The business has a fifty day simple moving average of $18.90 and a 200 day simple moving average of $19.82. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of -13.76, a P/E/G ratio of 3.04 and a beta of 0.95.
In other news, Director David J. Lesar bought 11,110 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $18.05 per share, with a total value of $200,535.50. Following the completion of the transaction, the director now directly owns 6,110 shares in the company, valued at $110,285.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.
Several research firms have weighed in on CNP. Goldman Sachs Group lowered CenterPoint Energy from a “buy” rating to a “neutral” rating and raised their target price for the company from $21.00 to $22.00 in a report on Monday, May 11th. Evercore ISI lowered CenterPoint Energy from an “outperform” rating to an “in-line” rating and cut their target price for the company from $21.00 to $17.00 in a report on Monday, April 20th. Mizuho cut their target price on CenterPoint Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, June 26th. Bank of America lowered CenterPoint Energy from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a report on Friday, May 8th. Finally, Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a report on Friday, June 12th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $20.89.
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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