Centerpoint Energy Inc Stock Price, News & Analysis

CenterPoint Energy, Inc. (NYSE: CNP) has announced its upcoming third quarter 2024 earnings conference call, scheduled for October 28, 2024, at 7:00 a.m. Central time (8:00 a.m. Eastern time). Investors can access the webcast via the company's investor relations website. CenterPoint Energy is the only investor-owned electric and gas utility based in Texas, serving over 7 million metered customers across six states. As of June 30, 2024, the company owned approximately $41 billion in assets and employed around 9,000 people. With a history spanning more than 150 years, CenterPoint Energy operates in electric transmission and distribution, power generation, and natural gas distribution.

CenterPoint Energy (NYSE: CNP) has partnered with Neara to deploy AI-powered infrastructure modeling across its Greater Houston service area. This collaboration aims to enhance electric grid resilience, optimize safety and reliability, and reduce customer impact. Neara's technology will enable CenterPoint to:

1. Simulate severe weather events and their potential impact on infrastructure
2. Inform preparedness and response plans
3. Address high-risk vegetation along power lines
4. Identify critical equipment upgrades efficiently
5. Prioritize grid hardening improvements

This initiative follows CenterPoint's completion of the first phase of its Greater Houston Resiliency Initiative (GHRI). The company has announced a second phase (Sept 2024 - June 2025) and plans for a longer-term resilience investment of approximately $5 billion from 2026 to 2028.

CenterPoint Energy has announced a comprehensive suite of new actions as part of the second phase of its Greater Houston Resiliency Initiative (GHRI) to strengthen the electric grid across the region. The near-term actions, to be completed before the 2025 hurricane season, include:

• Installing 25,000 new, stronger poles
• Removing or trimming 4,000 miles of higher-risk vegetation
• Installing 4,500 automated reliability devices
• Undergrounding more than 400 miles of power lines

These actions aim to enable a self-healing grid, reduce outages, and lead to more than 125 million fewer outage minutes annually for customers in the Greater Houston area. CenterPoint Energy also plans to refile its long-term resiliency plan with the PUCT by January 31, 2025, proposing to invest at least $5 billion from 2026 to 2028 as part of a larger $21 billion capital investment plan for its Texas electric and gas systems from 2025 through 2030.

CenterPoint Energy's Board of Directors has declared a regular quarterly cash dividend of $0.2100 per share on the company's Common Stock. This dividend will be payable on December 12, 2024 to shareholders of record as of the close of business on November 21, 2024. The dividend represents a $0.010 increase over the previous quarter and aligns with an annual dividend of $0.81 for 2024. This increase reflects an 8% average dividend growth over the past three years, demonstrating CenterPoint Energy's commitment to delivering value to its shareholders.

CenterPoint Energy is closely monitoring tropical weather developments in the Gulf of Mexico as the 2024 hurricane season continues. The company is following its standard electric and gas preparedness protocols and remains ready to act if necessary. As part of its Greater Houston Resiliency Initiative, CenterPoint has made significant improvements to its electric system, including installing stronger fiberglass poles, trimming vegetation, and adding automation devices.

Customers are encouraged to develop emergency plans, assemble storm preparedness kits, and enroll in the Power Alert Service for outage updates. CenterPoint has also introduced a new and improved Outage Tracker with enhanced features. The company emphasizes the importance of safety for customers with critical needs and provides resources for hurricane preparedness on its website.

CenterPoint Energy (CNP) is responding to Hurricane Francine's aftermath, focusing on natural gas infrastructure in Louisiana and Mississippi. As of September 12, 2024, no significant damage to electric or gas networks has been reported. The company's 480-member workforce in Louisiana and 200-member workforce in Mississippi are conducting safety inspections, expected to be completed today.

CenterPoint has released 1,500 distribution frontline and 700 vegetation management mutual aid workers to support more impacted utilities. The company is also making some of its Greater Houston area internal and contractor frontline electric workers available for mutual aid. CenterPoint continues to emphasize safety measures for natural gas customers, including being alert for gas odors and refraining from turning gas valves on or off.

CenterPoint Energy is focusing its Hurricane Francine response efforts on supporting nearly 400,000 natural gas customers in Louisiana and Mississippi. The company has mobilized personnel and resources to assist these areas, while transitioning electric operations in the Greater Houston area back to normal. Key actions include:

1. Readying Texas-based natural gas personnel for deployment
2. Releasing 1,500 frontline mutual aid workers to other utilities
3. Finishing storm-related vegetation management in Houston
4. Coordinating with government officials
5. Conducting outreach to critical care customers
6. Preparing for damage assessment and patrols

CenterPoint emphasizes safety measures for natural gas customers, including not turning off gas at the meter, being alert for gas smells, and proper post-flood inspections.

CenterPoint Energy is actively preparing for Tropical Storm Francine across its Gulf Coast service area. The company has activated Emergency Operations Centers in Texas, Louisiana, and Mississippi. Key actions include:

- Deploying 1,850 local frontline workers and 500 mutual assistance workers
- Mobilizing 1,300+ vegetation management crews
- Conducting outreach to 3,000+ Critical Care customers
- Coordinating with government officials and emergency partners
- Preparing for potential service disruptions and restoration efforts

CenterPoint is also making 1,000 frontline mutual aid workers available to assist other utilities. The company urges its 2.25 million natural gas customers to take proactive safety measures ahead of the storm's landfall.

CenterPoint Energy (CNP) is actively preparing for Tropical Storm Francine's potential impact on the Greater Houston area and Gulf Coast. The company has activated its Emergency Operations Center and is implementing a comprehensive response plan. Key actions include:

- Mobilizing 1,300+ vegetation management workers
- Readying 1,850 local frontline workers and identifying 1,625 mutual assistance workers
- Preparing four crew staging sites
- Conducting outreach to 3,000 Critical Care and Chronic Care customers
- Organizing additional call center staffing
- Coordinating temporary generation deployment

CenterPoint is urging customers to enroll in their Power Alert Service® for updates and to use the improved Outage Tracker for real-time information.