CenterPoint Energy, Inc. - CNP STOCK NEWS

CenterPoint Energy has partnered with Energy Federation, Inc. (EFI) to launch an energy-efficient product and rebate program in Indiana. This initiative aims to enhance customer engagement and promote energy savings through an online marketplace offering ENERGY STAR certified products. Customers can receive instant rebates via mobile devices, significantly speeding up the rebate process. EFI will oversee marketing and provide a seamless shopping experience for customers. CenterPoint Energy currently serves over 7 million customers across multiple states, with significant assets valued at approximately $33 billion.

CenterPoint Energy, Inc. (CNP) reported a significant turnaround in its first quarter 2021 results, posting income of $334 million, or $0.56 per diluted share, compared to a loss of $1,228 million, or $2.44 per diluted share, in Q1 2020. Non-GAAP earnings reached $0.59 per diluted share, supported by strong utility operations. The company reaffirmed its 2021 Utility EPS guidance of $1.24 - $1.26 and is pursuing a 10% compound annual rate base growth backed by a $16 billion capital plan. Additionally, CenterPoint announced a $1.725 billion sale of its Arkansas and Oklahoma gas LDC businesses.

CenterPoint Energy (NYSE: CNP) has agreed to sell its Arkansas and Oklahoma natural gas LDC assets to Summit Utilities for $2.15 billion in cash. The sale includes a recovery of $425 million in storm-related costs. The net proceeds of $1.725 billion represent a 2.5x multiple of 2020's rate base and a 38.0x multiple of 2020's earnings. This strategic move enables CenterPoint to focus on its growth commitments, targeting annualized utility earnings per share growth of 6%-8% and a 10% compound annual growth rate. The transaction is expected to close by the end of 2021.

CenterPoint Energy, Inc. (NYSE: CNP) held its 2021 annual meeting on April 23, where shareholders approved key proposals. These included the election of nine board members for one-year terms, the ratification of Deloitte & Touche LLP as the independent registered public accounting firm for 2021, and an advisory resolution regarding the compensation of named executive officers. CenterPoint Energy serves over 7 million customers across several states and owned approximately $33 billion in assets as of December 31, 2020.

On April 23, 2021, CenterPoint Energy declared dividends for its Common Stock and Series B Mandatory Convertible Preferred Stock. The regular quarterly cash dividend for Common Stock is set at $0.1600 per share, payable on June 10, 2021, to shareholders recorded by May 20, 2021. For its Series B Preferred Stock, a regular dividend of $17.5000 per share is scheduled for payment on June 1, 2021, to shareholders of record as of May 15, 2021. This positions CenterPoint as a stable investment for income-seeking shareholders.

CenterPoint Energy, Inc. (NYSE: CNP) has announced its 2021 annual meeting of shareholders scheduled for April 23, 2021, at 9 a.m. CDT, to be held in Houston, Texas. Shareholders on record as of the close of business on February 26, 2021, will receive notices and have voting rights. The company serves over 7 million customers across multiple states and has approximately $33 billion in assets. Established for over 150 years, CenterPoint is the only investor-owned utility in Texas.

CenterPoint Energy Houston Electric has successfully concluded a public offering of $1.1 billion in general mortgage bonds, consisting of $400 million of 2.35% bonds maturing in 2031 and $700 million of 3.35% bonds maturing in 2051. Proceeds will address various financial obligations, including the repayment of existing bonds and capital expenditures. The offering was coordinated by several financial institutions, including BNP PARIBAS and Citigroup. Forward-looking statements indicate potential risks affecting future performance due to economic and regulatory factors.

CenterPoint Energy, Inc. (NYSE: CNP) is set to hold its First Quarter 2021 Earnings Conference Call on May 6, 2021, at 7:00 a.m. Central time. The company provides electric transmission and distribution, power generation, and natural gas distribution services to over 7 million customers across several states. As of December 31, 2020, CenterPoint owned approximately $33 billion in assets, along with a 53.7% stake in Enable Midstream Partners, LP. The company has a rich operational history spanning more than 150 years.