Centerpoint Energy Inc Stock Price, News & Analysis

CenterPoint Energy Resources Corp. (CERC), a subsidiary of CenterPoint Energy (NYSE: CNP), has closed an offering of $500 million in 1.75% senior notes due 2030. The proceeds aim to cover general corporate purposes, including redeeming part of the outstanding 4.50% Senior Notes due 2021. Barclays, Citigroup, J.P. Morgan, and Mizuho Securities acted as joint bookrunners for the offering. As of June 30, 2020, CenterPoint Energy holds $32 billion in assets and serves over 7 million customers across multiple states.

CenterPoint Energy (NYSE: CNP) announced the appointment of Jason Wells as Executive Vice President and Chief Financial Officer, effective Sept. 28. He will oversee Finance, including Accounting and M&A, reporting to Dave Lesar. Wells, previously CFO at PG&E Corporation, brings a track record of driving financial strategies and improving customer rate affordability, projected to save $1.6 billion over three years. Lesar expressed confidence in Wells' ability to enhance stakeholder value and execute key initiatives that strengthen the company's utility-focused strategy.

CenterPoint Energy (NYSE: CNP) has appointed Thomas Webb as a Senior Advisor to aid the Business Review and Evaluation Committee. Webb brings over 40 years of experience, including past CFO roles at CMS Energy and Kellogg Company. He will assist in identifying strategic actions to enhance stakeholder value and support the hiring of a new CFO. Company President Dave Lesar emphasized Webb's expertise and relationships in the utility sector. CenterPoint Energy operates in multiple states, serving over 7 million customers with approximately $32 billion in assets.

CenterPoint Energy has launched a new request for proposals (RFP) to integrate wind and solar resources for Southern Indiana Gas and Electric Co. (SIGECO), serving 145,000 electric customers. This initiative is in response to the retirement of 730 MW of coal-fired generation by 2024, with plans to replace it with 700 to 1,000 MW of solar, solar + storage, and 300 MW of wind. The RFP aims to identify additional generation capacity to begin in 2023, facilitating the company's transition to renewable energy.

CenterPoint Energy, Inc. (NYSE: CNP), a major Texas-based utility, will host its third-quarter 2020 earnings conference call on November 5, 2020, at 7:00 a.m. Central time. The company serves over 7 million customers across multiple states, with assets valued at approximately $32 billion as of June 30, 2020. CenterPoint also holds a 53.7% stake in Enable Midstream Partners, LP. With a workforce of around 9,600 employees, the company has a longstanding history of over 150 years in the energy sector.

CenterPoint Energy (NYSE: CNP) has appointed former Anadarko Petroleum CEO Al Walker and President Robert G. Gwin to its Enable GP Board of Directors. This strategic move reinforces CenterPoint's majority ownership in Enable Midstream Partners, where it controls 53.7% of common units. Walker will join the Compensation Committee, while Gwin will serve as Chairman of the Board. CEO Dave Lesar highlighted their extensive industry experience as vital for enhancing long-term performance and optimizing investment value. The Board is expected to finalize recommendations by October 2020.

CenterPoint Energy is integrating its Indiana Electric and Houston Electric utilities into a single Electric organization to enhance operational efficiencies and share best practices. This strategic move aims to drive long-term benefits in service reliability and technology. The shift coincides with the implementation of the Integrated Resource Plan, which is projected to save customers approximately $320 million and reduce carbon emissions by 75% compared to 2005 levels. Additionally, the company will rebrand Vectren as CenterPoint Energy to unify its operations.

CenterPoint Energy (NYSE: CNP) has appointed David J. Lesar as President and CEO, effective July 1, 2020. He succeeds John W. Somerhalder II and aims to enhance shareholder value and advance the company's strategic initiatives. Lesar, who previously led Halliburton, emphasizes a commitment to optimizing utility assets and maintaining earnings growth. Additionally, Earl M. Cummings has joined the Board as an independent director. The board is focused on ensuring diversity and community engagement while preparing for an investor day in early 2021.

CenterPoint Energy (CNP) will host its Second Quarter 2020 Earnings Conference Call on August 6, 2020, at 10:00 a.m. CT. The company, headquartered in Houston, serves over 7 million customers across multiple states, managing more than $33 billion in assets. It also holds a significant stake in Enable Midstream Partners. The earnings call will be accessible online through the company’s investor relations webpage.