Centerpoint Energy Inc Stock Price, News & Analysis

CenterPoint Energy announced plans to resume settlement talks for its 2024 CenterPoint Energy Houston Electric rate case, which was previously requested to withdraw on August 1, 2024. The company has completed Phase One of the Greater Houston Resiliency Initiative, installing over 1,100 fiberglass poles, trimming 2,000+ miles of power lines, and adding 300+ automation devices. Phase Two aims to install 25,000 poles, trim 4,000 miles of power lines, add 4,500 automation devices, and underground 400+ miles of power lines before the 2025 hurricane season. The original rate case filing sought a net increase of approximately $1.25 per month for average residential customers using 1,000 kwh.

CenterPoint Energy announced that Hurricane Rafael is expected to weaken and remain in the southern Gulf of Mexico over the weekend, potentially bringing isolated rain and wind to Texas and Louisiana. While most company teams will resume normal operations, personnel will remain on standby to execute emergency preparedness plans if needed. The company does not anticipate engaging the 13,000 mutual assistance resources that were available for emergency response. CenterPoint encourages customers to review their emergency plans and access storm-related safety tips through their website.

CenterPoint Energy is actively monitoring Hurricane Rafael, currently a Category 3 storm, and implementing emergency preparedness protocols across its Gulf Coast service area. The company has suspended natural gas disconnections in Texas, Louisiana, and Mississippi, and has identified over 13,000 mutual assistance resources for potential emergency response. While forecasts suggest the storm may head toward Mexico, CenterPoint remains prepared for any potential impacts on both electric and natural gas infrastructure. The company has enhanced its staffing plans and is ready to deploy resources for service restoration if needed.

CenterPoint Energy is preparing for potential impacts from Hurricane Rafael, now a Category 3 storm with 115 mph winds, across its Gulf Coast service area. The company has mobilized over 13,000 mutual assistance resources, implemented enhanced staffing plans, and suspended natural gas disconnections in Texas, Louisiana, and Mississippi. While the Greater Houston area is not expected to be heavily impacted, the company is conducting pre-landfall emergency protocols and urging customers to take safety precautions. CenterPoint has enhanced its outage tracking capabilities and is encouraging customers to enroll in Power Alert Service® for updates.

CenterPoint Energy is actively preparing for Tropical Storm Rafael's potential impact across its Gulf Coast service area. The company is monitoring weather updates and coordinating with emergency partners to ensure readiness for service restoration in Louisiana, Mississippi, and Texas. Over 2.25 million natural gas customers have been urged to take safety precautions. The company has mobilized resources and crews for potential storm response, focusing on debris clearing and service restoration. While the Greater Houston area is not expected to be heavily impacted, the company is prepared for potential outages and has implemented various customer communication channels, including Power Alert Service® and an improved Outage Tracker.

CenterPoint Energy is monitoring Tropical Storm Rafael in the Caribbean Sea and activating emergency response plans as the storm is expected to strengthen into a hurricane by midweek. The company has implemented the Greater Houston Resiliency Initiative, completing its first phase with installation of 1,100 fiberglass poles, vegetation trimming along 2,000 miles of power lines, and 300 automation devices. The second phase, to be completed before June 1, 2025, includes installing 25,000 extreme wind-resistant poles, trimming 4,000 miles of power lines, adding 4,500 trip savers, and undergrounding 400+ miles of power lines. These improvements aim to reduce outage minutes by 125 million annually.

CenterPoint Energy (CNP) reported Q3 2024 earnings of $0.30 per diluted share (GAAP) and $0.31 per diluted share (non-GAAP), down from $0.40 in Q3 2023. The decline was primarily due to increased operating expenses of $0.11 per share from the Greater Houston Resiliency Initiative. The company reiterated its 2024 non-GAAP EPS guidance of $1.61-$1.63 and initiated 2025 guidance of $1.74-$1.76, targeting 8% growth. Growth and regulatory recovery contributed $0.09 per share positively, offset by Hurricane Beryl outages ($0.02) and unfavorable weather variances ($0.04).

CenterPoint Energy has appointed Don Daigler as Senior Vice President of Emergency Preparedness and Response, marking a significant step in improving the company's emergency management capabilities following Hurricane Beryl. This appointment fulfills one of over 40 commitments made under the Greater Houston Resiliency Initiative (GHRI) in August. Daigler brings 40+ years of experience in emergency management and national security, including leadership roles at FEMA and in the electric utility industry. The company has completed 41 of 42 GHRI commitments, with the final one scheduled for completion by end-2024.

CenterPoint Energy has released an independent review by PA Consulting Group regarding its Hurricane Beryl response, which includes 77 recommendations for improving storm readiness, response, and communications. The company has already completed or is implementing 51 recommendations through its Greater Houston Resiliency Initiative (GHRI), with 18 completed and 33 in progress. Key completed actions include replacing the outage map, revising communication strategies, and acquiring additional generators. In-progress improvements focus on expanding TripSaver® reclosers installation, increasing composite poles usage, and revising tree trimming cycles. The remaining 26 recommendations are under evaluation for future implementation.