Welcome to our dedicated page for Centerpoint Energy news (Ticker: CNP), a resource for investors and traders seeking the latest updates and insights on Centerpoint Energy stock.
CenterPoint Energy, Inc. reports developments for a multi-state electric and natural gas delivery company serving metered customers in Indiana, Minnesota, Ohio and Texas. The company’s recurring news covers regulated electric transmission and distribution, power generation, natural gas distribution, customer service initiatives and grid resiliency work, including storm-hardening, vegetation management, automation and other reliability-focused infrastructure upgrades.
CenterPoint Energy news also includes quarterly and annual operating results, dividend declarations, debt and convertible-note financing, capital investment plans, shareholder matters and Board governance updates. Company updates frequently connect earnings drivers to regulatory recovery, weather and usage, operating expense, interest expense and investment in system safety, reliability and resilience.
CenterPoint Energy (NYSE: CNP) announced the completion of the sale of its natural gas distribution utilities in Arkansas and Oklahoma to Summit Utilities. This transaction involved around 17,000 miles of pipeline, serving over 500,000 customers. The deal received all necessary regulatory approvals and allows CenterPoint to focus on its strategic goals. The company outlined a five-year capital plan exceeding $18 billion and a ten-year plan of over $40 billion, aimed at enhancing safety and reliability, and supporting clean energy investments.
CenterPoint Energy, Inc. (NYSE: CNP) has announced leadership promotions and appointments as part of its succession planning to support long-term growth. Effective January 1, 2022, several key executives will assume new roles, enhancing the company's management capabilities. President and CEO Dave Lesar stated that the company will increase its five-year capital plan to over $18 billion and introduce a $40 billion 10-year capital plan focused on safety, reliability, and clean energy investments. The leadership changes aim to position CenterPoint for strategic growth.
CenterPoint Energy, Inc. (NYSE: CNP) has declared dividends for its common and Series A preferred stocks. The common stock will pay a quarterly cash dividend of $0.17 per share, reflecting an 8% year-over-year increase, payable on March 10, 2022. The Series A preferred stock will yield $30.6250 per share, with a payment date of March 1, 2022. This demonstrates CenterPoint's commitment to shareholder returns, supported by its substantial asset base of $37 billion as of September 30, 2021.
LafargeHolcim, Geocycle, and CenterPoint Energy have achieved a significant milestone in their environmental initiative by successfully making the first barge shipment of nearly 2,000 tons of coal ash. This project is expected to recover and recycle over six million tons of coal ash, substantially reducing landfill use and the need for virgin raw materials in cement production. The collaborative effort, which involves an investment of over $80 million, aims to transform coal ash into a beneficial resource, supporting sustainable construction practices and contributing to a circular economy.
CenterPoint Energy reported Q3 2021 earnings of $0.32 per diluted share, up from $0.13 in Q3 2020, with non-GAAP earnings at $0.33. The company raised its Utility EPS guidance for 2021 to $1.26-$1.28, marking the third increase this year, and for 2022 to $1.36-$1.38. The capital plan has been increased to over $18 billion for five years and over $40 billion for ten years. CenterPoint aims for an 8% annual Utility EPS growth target from 2022 to 2024. The company reported $195 million income available to shareholders, amidst one-time governance costs and unfavorable weather impacting operations.
Enable Midstream Partners reported strong financial results for Q3 2021, achieving a net income of $116 million compared to a $164 million net loss in Q3 2020. Adjusted EBITDA climbed to $269 million, up $40 million year-over-year, and distributable cash flow (DCF) increased by $46 million to $193 million. The company maintained a distribution coverage ratio of 2.68x. The Gulf Run Pipeline project received all necessary approvals, with construction expected to begin early 2022. Enable is also nearing completion of its merger with Energy Transfer, anticipated by year-end 2021.
CenterPoint Energy (NYSE: CNP) has received approval from the Indiana Utility Regulatory Commission to acquire a 300 MW solar array and a power purchase agreement for an additional 100 MW as part of its renewable energy transition plan. The solar projects, co-developed with Arevon Energy Management and Tenaska, aim to support over 50,000 households annually. Construction is expected to begin soon, with completion anticipated by 2023. This initiative aligns with CenterPoint's goal of achieving net-zero carbon emissions by 2035.
Enable Midstream Partners (NYSE: ENBL) announced a quarterly cash distribution of $0.16525 per common unit for Q3 2021, unchanged from the previous quarter. This distribution will be paid on Nov. 17, 2021, to unitholders of record by Nov. 8, 2021. Additionally, they declared a cash distribution of $0.5403 per Series A Preferred Unit for the same quarter, payable on Nov. 12, 2021, to unitholders of record by Oct. 26, 2021. Enable operates extensive natural gas and crude oil infrastructure, with over 14,000 miles of pipelines and significant processing capacity.
Enable Midstream Partners (NYSE: ENBL) will file its third quarter 2021 results before market hours on Monday, Nov. 1. Along with the Form 10-Q filing, the partnership will issue a press release detailing the quarter's results and recent business highlights.
Enable operates over 14,000 miles of natural gas, crude oil, and water gathering pipelines, boasting a processing capacity of approximately 2.6 Bcf/d and significant storage capabilities of 84.5 billion cubic feet.
CenterPoint Energy (NYSE: CNP) appointed Raquelle W. Lewis to its Board of Directors, effective September 29, 2021. With over 25 years in communications and community outreach in transportation and infrastructure, Lewis currently leads communications for the Texas Department of Transportation's Southeast Region, managing key projects worth over $9 billion. Board Chair Martin Nesbitt highlighted her expertise as critical for executing the company's $40 billion capital plan. Lewis expressed her commitment to enhancing the company's performance and value for customers and shareholders.