Centerpoint Energy Inc Stock Price, News & Analysis

CenterPoint Energy reported Q1 2023 earnings of $0.49 per diluted share (GAAP), down from $0.82 in Q1 2022, largely due to prior year gains from asset sales. Non-GAAP EPS was $0.50, reflecting a 6% increase year-over-year. The company reaffirmed its 2023 non-GAAP EPS guidance of $1.48-$1.50, indicating 8% growth over 2022 at the midpoint. Capital investments are on track, with $3.6B planned for the year and a quarter of this already deployed. Despite higher interest expenses and milder winter weather impacting earnings by $0.10 per share, CenterPoint maintains an optimistic growth outlook with 8% growth targeted through 2024 and beyond.

CenterPoint Energy (NYSE: CNP) announced its Integrated Resource Plan (IRP) aimed at transitioning to renewable energy by terminating its coal use by 2027. The plan anticipates customer savings of nearly $80 million compared to continued coal usage and aims to achieve over a 95% reduction in carbon emissions over the next two decades. By 2030, over 80% of electricity will come from wind and solar sources. The IRP involved extensive public input and is scheduled for submission to the Indiana Utility Regulatory Commission by June 1. CenterPoint Energy plans to convert its last coal unit to natural gas, add new renewable resources, and maintain reliable service amid fluctuating demand.

On April 24, 2023, CenterPoint Energy, Inc. (NYSE: CNP) reported the outcomes of its annual shareholder meeting. Key decisions include:

• The election of nine board members, including Wendy Montoya Cloonan and Christopher H. Franklin, for one-year terms.
• The ratification of Deloitte & Touche LLP as the independent auditor for 2023.
• Approval of an advisory resolution on executive compensation rights.
• Future 'say-on-pay' advisory votes on executive compensation will occur annually.

CenterPoint Energy operates as Texas's sole investor-owned electric and gas utility, serving over 7 million customers across six states, with assets totaling approximately $38 billion as of December 31, 2022.

CenterPoint Energy (NYSE: CNP) has declared a regular quarterly cash dividend of $0.1900 per share on its Common Stock. This dividend is payable on June 8, 2023, to shareholders of record by the close of business on May 18, 2023. CenterPoint Energy, based in Texas, serves over 7 million metered customers across multiple states, including Indiana, Louisiana, Minnesota, Mississippi, Ohio, and Texas. As of December 31, 2022, the company held approximately $38 billion in assets and has been in operation for over 150 years.

CenterPoint Energy (NYSE: CNP) and Radisson Blu Mall of America, part of Choice Hotels (NYSE: CHH), have launched a pioneering carbon-capture technology, CarbinX, in the first hotel globally to adopt such innovation. This installation, part of CenterPoint Energy's cleaner energy initiative, captures CO₂ from natural gas heating, converting it into a non-toxic carbonate powder. The CarbinX unit enhances energy efficiency and is expected to lower energy costs for Radisson Blu. The pilot program includes 10 commercial clients in Minnesota, aiming to promote sustainable energy solutions amidst increasing climate concerns.

CenterPoint Energy and Radisson Blu Mall of America have partnered to install the world’s first CarbinX carbon-capture technology unit at the hotel, aimed at reducing greenhouse gas emissions. This initiative is part of a pilot program for CenterPoint Energy, Minnesota's largest natural gas utility, exploring cleaner energy technologies. The CarbinX unit captures CO₂ emissions and converts them into nontoxic pearl ash, which is recyclable and used in various commercial products. The Radisson Blu is also expected to see energy bill reductions through improved efficiency. This technology is a key part of the company's commitment to sustainability.

CenterPoint Energy (NYSE: CNP), a Texas-based electric and gas utility, is set to hold its Q1 2023 earnings conference call on April 27, 2023, at 7:00 a.m. Central time. The company, which serves over 7 million customers across several states, reported assets worth approximately $38 billion as of December 31, 2022. With over 9,400 employees, CenterPoint Energy has been operational for more than 150 years. Investors can listen to the call via the company’s investor page.

CenterPoint Energy (NYSE: CNP) has appointed Christopher Foster as Executive Vice President and Chief Financial Officer, effective May 5. Foster will lead the Finance organization, reporting to CEO Dave Lesar, and will be part of the Executive Committee. His previous experience includes 11 years at PG&E Corporation, where he oversaw significant financial activities and operations, achieving top-decile earnings growth and improved balance sheet health. Lesar praised Foster's leadership qualities and highlighted the positive impact he is expected to bring to CenterPoint's long-term growth strategy.