CenterPoint Energy, Inc. (NYSE:CNP) declared a quarterly dividend on Thursday, December 14th, Wall Street Journal reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.2775 per share by the utilities provider on Thursday, March 8th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27.
CenterPoint Energy has raised its dividend payment by an average of 7.5% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. CenterPoint Energy has a dividend payout ratio of 81.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect CenterPoint Energy to earn $1.41 per share next year, which means the company should continue to be able to cover its $1.07 annual dividend with an expected future payout ratio of 75.9%.
CenterPoint Energy (NYSE:CNP) traded up $0.02 during trading hours on Thursday, reaching $28.40. 3,999,000 shares of the company’s stock traded hands, compared to its average volume of 2,836,038. The stock has a market cap of $12,240.00, a P/E ratio of 21.66, a PEG ratio of 3.78 and a beta of 0.62. CenterPoint Energy has a 12 month low of $23.95 and a 12 month high of $30.45. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.91.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. CenterPoint Energy’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. research analysts anticipate that CenterPoint Energy will post 1.31 earnings per share for the current fiscal year.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $29.61, for a total transaction of $29,610.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 3,000 shares of company stock valued at $88,080. Company insiders own 0.20% of the company’s stock.
Several research firms have weighed in on CNP. Royal Bank of Canada reissued a “hold” rating and set a $29.00 target price on shares of CenterPoint Energy in a research report on Monday, September 11th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Bank of America assumed coverage on shares of CenterPoint Energy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price objective for the company. Guggenheim cut shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Eleven analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. CenterPoint Energy currently has an average rating of “Hold” and a consensus price target of $28.89.
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CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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