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. (NYSE: CNP), headquartered in Houston, Texas, is a leading domestic energy delivery company. With a robust history spanning over 140 years, the company has established itself as a cornerstone in the energy sector, serving more than five million metered customers across Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. CenterPoint Energy specializes in electric transmission and distribution, natural gas distribution, and energy services operations.
The company owns a 54.7% limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership. This joint venture with OGE Energy Corp. focuses on owning, operating, and developing natural gas and crude oil infrastructure assets. CenterPoint Energy's regulated electric utilities provide essential services to over 2.5 million customers, primarily in the Houston area, southern Indiana, and west central Ohio. Its natural gas distribution systems cater to around 4 million customers, underscoring the company's expansive reach and critical role in energy delivery.
One of the company's recent notable achievements includes a cost-saving initiative for its Indiana electric customers. In June 2023, CenterPoint Energy launched a securitization pilot program, which gained approval from the Indiana Utility Regulatory Commission (IURC). This initiative aims to remove the remaining value of the A.B. Brown coal plant assets from customer rates, resulting in a total estimated savings of $53 million. The program benefits all Indiana electric customer classes, with residential customers expected to see a nearly $5 bill credit per month.
As part of its long-term electric generation transition plan, CenterPoint Energy will retire the A.B. Brown coal units 1 and 2 in October 2023. The company plans to reinvest the proceeds from the securitization bonds into renewable energy resources, including wind- and solar-powered generation, supported by natural gas generation to ensure reliability. This transition aligns with CenterPoint Energy's commitment to delivering clean and reliable energy while prioritizing customer savings.
CenterPoint Energy's forward-looking strategies are geared toward maintaining a balance between innovation and customer value. The company's emphasis on renewable energy and cost-effective financing solutions demonstrates its dedication to sustainability and fiscal responsibility.
With a workforce of over 8,500 employees, CenterPoint Energy continues to uphold its legacy of service and reliability. For more detailed information, visit the company's website at www.centerpointenergy.com.
CenterPoint Energy (NYSE: CNP) announced a new all-source request for proposals (RFP) to enhance its electric utility operations in Indiana, targeting resources such as renewables (wind, solar, and battery storage), thermal options, and short-term capacity. This RFP aims to identify generation technologies to meet the needs of its 150,000 customers by March 1, 2027. The company will also conduct a 2022 Integrated Resource Plan to analyze the optimal generation mix for the next 20 years. The initiative reflects a commitment to providing safe, reliable, and cost-effective electric service.
CenterPoint Energy, Inc. (NYSE: CNP) received approval from the Indiana Utility Regulatory Commission to enter into two power purchase agreements (PPAs) for 335 megawatts (MWs) of solar energy. This includes a 15-year PPA for 185 MWs with Oriden and a 20-year PPA for 150 MWs with Origis Energy. The projects will supply enough power for over 70,000 homes, supporting the company's Smart Energy Future strategy and helping achieve net-zero greenhouse gas emissions by 2035. The IRP aims to generate nearly two-thirds of energy from renewables while saving customers an estimated $320 million over 20 years.
CenterPoint Energy reported Q1 2022 earnings of $0.82 per diluted share, marking an increase from $0.56 in Q1 2021. The earnings included strategic transaction-related income of $0.35 per share. Non-GAAP EPS stood at $0.47, flat compared to the previous year. The company reaffirmed its non-GAAP EPS guidance for 2022 at $1.36-$1.38, targeting an 8% annual growth rate through 2024. CenterPoint has fully exited midstream operations, selling its Energy Transfer position at a 20% premium. The five-year capital plan increased to $19.3 billion, focusing on regulated utility investments.
CenterPoint Energy, Inc. (NYSE: CNP) declared a quarterly cash dividend of $0.1700 per share on its Common Stock. This dividend will be payable on June 9, 2022, to shareholders of record by the close of business on May 19, 2022. With over 7 million metered customers in various states, the company possesses approximately $38 billion in assets as of December 31, 2021. CenterPoint has a long-standing history, serving customers for over 150 years.
CenterPoint Energy, Inc. (NYSE: CNP) held its 2022 annual shareholder meeting on April 22, where shareholders elected Christopher H. Franklin as a new independent director. Franklin brings extensive experience from his role as CEO at Essential Utilities. The meeting also saw the election of existing directors for one-year terms, the ratification of Deloitte & Touche LLP as auditors, and the adoption of the 2022 Long-Term Incentive Plan. However, shareholders voted against the advisory resolution on executive compensation. This signifies a shift towards aligning company interests with those of shareholders.
CenterPoint Energy, Inc. (NYSE: CNP), based in Houston, TX, will host its First Quarter 2022 Earnings Conference Call on May 3, 2022, at 7:00 a.m. Central time. This energy delivery company services over 7 million customers across several states, including Texas and Indiana, with a strong asset base of approximately $38 billion as of December 31, 2021. CenterPoint has a workforce of around 9,400 employees and has been operational for over 150 years. Details for listening to the conference call can be found on their investor relations website.
Itron has signed a contract with CenterPoint Energy to deploy 3 million Intelis natural gas smart meters. This initiative aims to enhance safety, reliability, and efficiency of CenterPoint's gas distribution system. The Intelis meters feature an automatic shutoff valve for increased safety and provide accurate consumption data to customers. This partnership reflects CenterPoint's commitment to modernizing its infrastructure while also supporting environmental sustainability goals by reducing carbon emissions from utility vehicles.
CenterPoint Energy, Inc. (NYSE: CNP) has completed its exit from midstream interests by selling its Energy Transfer holdings, realizing a 20% premium compared to the ET common unit price at the time of the Enable merger announcement on February 12, 2021. The proceeds will be used to reduce debt. Moody's revised CNP's cash flow to debt ratio downgrade threshold to 13%, reflecting improved business risk. CenterPoint aims for over $40 billion in capital investments and targets 8% non-GAAP EPS growth through 2024, with long-term plans of 6-8% growth through 2030.
CenterPoint Energy, Inc. (NYSE: CNP) has announced its 2022 annual meeting of shareholders, scheduled for April 22, 2022, at 9 a.m. CDT, in Houston, Texas. Shareholders of record as of February 25, 2022, will receive notice and voting rights. CenterPoint Energy serves over 7 million customers across various states, including Texas and Indiana, with approximately $38 billion in assets as of December 31, 2021. The company has a rich history of over 150 years in the energy delivery sector.
CenterPoint Energy reported Q4 2021 earnings of $1.01 per diluted share, with full year earnings at $2.28 per diluted share. Non-GAAP Utility EPS was $0.27 for Q4 and $1.27 for the full year. The company has reaffirmed its non-GAAP EPS guidance for 2022 between $1.36 and $1.38. CenterPoint aims for an 8% non-GAAP EPS growth rate from 2022 to 2024, continuing to the mid-to-high end of a 6-8% range through 2030. The company is making strides to exit its midstream investments, having sold 75% of its Energy Transfer common units.
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