CenterPoint Energy, Inc. to Issue Quarterly Dividend of $0.15 (NYSE:CNP)

CenterPoint Energy, Inc. (NYSE:CNP) announced a quarterly dividend on Thursday, October 29th, RTT News reports. Investors of record on Thursday, November 19th will be paid a dividend of 0.15 per share by the utilities provider on Thursday, December 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, November 18th.

CenterPoint Energy has increased its dividend payment by 11.7% over the last three years and has increased its dividend every year for the last 1 years. CenterPoint Energy has a payout ratio of 46.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CenterPoint Energy to earn $1.34 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 44.8%.

Shares of NYSE CNP opened at $24.25 on Monday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.59 and a current ratio of 0.73. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of -12.44, a PEG ratio of 3.60 and a beta of 0.95. The stock has a 50 day moving average price of $21.21 and a 200 day moving average price of $19.42. CenterPoint Energy has a 52-week low of $11.58 and a 52-week high of $28.28.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, November 5th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.72 billion. CenterPoint Energy had a positive return on equity of 14.78% and a negative net margin of 9.49%. CenterPoint Energy’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Analysts forecast that CenterPoint Energy will post 1.3 earnings per share for the current year.

A number of analysts recently issued reports on CNP shares. Credit Suisse Group boosted their price target on CenterPoint Energy from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, November 6th. KeyCorp upgraded CenterPoint Energy from an “underweight” rating to a “sector weight” rating in a report on Thursday, November 5th. BMO Capital Markets upped their target price on CenterPoint Energy from $21.00 to $23.00 and gave the stock a “market perform” rating in a report on Friday, November 6th. Zacks Investment Research lowered CenterPoint Energy from a “hold” rating to a “sell” rating and set a $25.00 target price for the company. in a report on Friday. Finally, ValuEngine upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Tuesday, October 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $20.41.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Houston Electric T&D segment electric transmission and distribution services to electric utility. It owns 236 substation sites with a total installed rated transformer capacity of 68,053 megavolt amperes.

Further Reading: Market Perform

Dividend History for CenterPoint Energy (NYSE:CNP)

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