Analyst Price Forecast Suggests 22.17% Upside
As of August 31, 2023, the average one-year price target for Centerpoint Energy is 33.42. The forecasts range from a low of 29.29 to a high of $35.70. The average price target represents an increase of 22.17% from its latest reported closing price of 27.36.
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The projected annual revenue for Centerpoint Energy is 8,874MM, a decrease of 4.25%. The projected annual non-GAAP EPS is 1.51.
Centerpoint Energy Declares $0.19 Dividend
On July 19, 2023 the company declared a regular quarterly dividend of $0.19 per share ($0.76 annualized). Shareholders of record as of August 17, 2023 will receive the payment on September 14, 2023. Previously, the company paid $0.19 per share.
At the current share price of $27.36 / share, the stock's dividend yield is 2.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.21%, the lowest has been 2.08%, and the highest has been 9.59%. The standard deviation of yields is 1.08 (n=236).
The current dividend yield is 0.40 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.62. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.27%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1273 funds or institutions reporting positions in Centerpoint Energy. This is a decrease of 22 owner(s) or 1.70% in the last quarter. Average portfolio weight of all funds dedicated to CNP is 0.26%, a decrease of 2.94%. Total shares owned by institutions decreased in the last three months by 6.14% to 707,365K shares. The put/call ratio of CNP is 0.17, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 69,929K shares representing 11.08% ownership of the company. In it's prior filing, the firm reported owning 69,402K shares, representing an increase of 0.75%. The firm decreased its portfolio allocation in CNP by 6.50% over the last quarter.
ABALX - AMERICAN BALANCED FUND holds 25,569K shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 25,469K shares, representing an increase of 0.39%. The firm decreased its portfolio allocation in CNP by 3.52% over the last quarter.
Capital Research Global Investors holds 24,530K shares representing 3.89% ownership of the company. In it's prior filing, the firm reported owning 24,516K shares, representing an increase of 0.06%. The firm decreased its portfolio allocation in CNP by 7.04% over the last quarter.
Boston Partners holds 21,490K shares representing 3.40% ownership of the company. In it's prior filing, the firm reported owning 25,020K shares, representing a decrease of 16.43%. The firm increased its portfolio allocation in CNP by 113.47% over the last quarter.
Deutsche Bank Ag\ holds 20,856K shares representing 3.30% ownership of the company. In it's prior filing, the firm reported owning 21,999K shares, representing a decrease of 5.48%. The firm decreased its portfolio allocation in CNP by 9.74% over the last quarter.
Centerpoint Energy Background Information
(This description is provided by the company.)
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of September 30, 2020, the company owned approximately $33 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.
- Form of Supplemental Indenture No. 14, to be dated as of August 10, 2023, to the Indenture between CenterPoint Energy, Inc. and The Bank of New York Mellon Trust Company, National Association, as trustee.
- Indenture dated as of August 4, 2023, between CenterPoint Energy, Inc. and The Bank of New York Mellon Trust Company, National Association, as trustee.
- Supplemental Indenture No. 24, dated as of May 3, 2023, to Exhibit 4.3
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