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, Inc. (NYSE: CNP), a major Texas-based energy utility, will hold its Fourth Quarter & Full Year 2021 Earnings Conference Call on February 22, 2022, at 7:00 a.m. Central time. Following the recent Arkansas/Oklahoma transaction, the company now serves nearly 7 million customers across multiple states, including Texas and Indiana, and boasts approximately $37 billion in assets. Established over 150 years ago, CenterPoint maintains a workforce of about 9,000 employees. For further details, investors can access the conference via this link.
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.
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