CenterPoint Energy (CNP) Releases Earnings Results, Misses Expectations By $-0.03 EPS

CenterPoint Energy (CNP) reported quarterly earnings results on Friday, Aug-5-2016. The company reported $0.17 earnings per share for the quarter, missing the analyst consensus estimate by $-0.03. Analysts had a consensus of $0.20. The company posted revenue of $1574.00 million in the period, compared to analysts expectations of $1632.42 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on CenterPoint Energy. CenterPoint Energy was Downgraded by Tudor Pickering to ” Hold” on Jul 5, 2016. CenterPoint Energy was Downgraded by Wells Fargo to ” Market Perform” on Jun 22, 2016. CenterPoint Energy was Upgraded by Goldman to ” Neutral” on May 9, 2016.

CenterPoint Energy opened for trading at $23.52 and hit $23.67 on the upside on Thursday, eventually ending the session at $23.6, with a gain of 0.43% or 0.1 points. The heightened volatility saw the trading volume jump to 55,60,768 shares. Company has a market cap of $10,163 M.

Investors should note that on Jul 28, 2016, CenterPoint Energy announced a cash dividend of $0.2575. The company’s management has announced Aug 12, 2016 as the ex-dividend date and fixed the record date on Aug 16, 2016. The payable date has been fixed on Sep 9, 2016.

In a different news, on May 16, 2016, Joseph B Mcgoldrick (Exec VP – Div Pres) sold 9,000 shares at $22.23 per share price. According to the SEC, on Nov 18, 2015, Janiece M Longoria (director) sold 3,000 shares at $17.03 per share price. On Jun 2, 2015, Tracy B Bridge (Exec VP – Div Pres) purchased 10,000 shares at $19.80 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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