CenterPoint Energy (CNP) Releases Earnings Results, Beats Expectations By $0.05 EPS

CenterPoint Energy (CNP) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $0.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.31. The company posted revenue of $1984.00 million in the period, compared to analysts expectations of $2393.90 million. The company’s revenue was down -18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on CenterPoint Energy. CenterPoint Energy was Upgraded by Goldman to ” Neutral” on May 9, 2016. Company shares were Reiterated by Deutsche Bank on Feb 29, 2016 to “Hold”, Firm has raised the Price Target to $ 18 from a previous price target of $17 .

CenterPoint Energy closed down -0.02 points or -0.09% at $21.63 with 21,82,131 shares getting traded on Friday. Post opening the session at $21.63, the shares hit an intraday low of $21.46 and an intraday high of $21.7 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Nov 18, 2015, Janiece M Longoria (director) sold 3,000 shares at $17.03 per share price. According to the SEC, on Jun 2, 2015, Tracy B Bridge (Exec VP – Div Pres) purchased 10,000 shares at $19.80 per share price. On May 18, 2015, Joseph B Mcgoldrick (Exec VP – Div Pres) purchased 10,000 shares at $20.15 per share price, according to the Form-4 filing with the securities and exchange commission.

CenterPoint Energy Inc. is a public utility holding company. The company’s segments include: Electric Transmission & Distribution Natural Gas Distribution Energy Services Midstream Investments and Other Operations. Electric Transmission & Distribution provides electric transmission and distribution services to retail electric providers. Natural Gas Distribution offers intrastate natural gas sales to and natural gas transportation and distribution for residential commercial industrial and institutional customers. Energy Services includes non-rate regulated gas sales and services operations. Midstream Investments segment includes equity earnings associated with the operations of Enable Midstream Partners LP and a 0.1% interest in Southeast Supply Header LLC owned by CenterPoint Energy Resources Corp. Other Operations includes office buildings and other real estate used in its business operations and other corporate operations which support all of its business operations.

CenterPoint Energy

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