CenterPoint Energy, Inc. - CNP STOCK NEWS

CenterPoint Energy reported fourth quarter 2020 earnings of $0.27 per diluted share, up from $0.25 in Q4 2019. However, full-year 2020 results showed a loss of $949 million, or $1.79 per diluted share, compared to a profit of $674 million in 2019. The decline was influenced by non-cash impairment charges of $1.27 billion. The company secured $1.7 billion in financing to manage liquidity after a damaging winter storm. CenterPoint is raising 2021 Utility EPS guidance to $1.24 - $1.26, emphasizing a shift towards a fully regulated business model.

CenterPoint Energy (CNP) has announced its intentions to acquire a 300-megawatt solar array in Indiana, seeking regulatory approval from the Indiana Utility Regulatory Commission (IURC). This initiative is a part of its long-term plan for electric generation transition, aiming to add an additional 100 MW through a power purchase agreement. The combined 400 MW solar capacity is projected to reduce operational emissions by 70% by 2035, generating enough power for over 50,000 homes. A decision from the IURC is anticipated in late 2021 or early 2022, with construction potentially creating 250 jobs and contributing $47.8 million to local economies.

A lawsuit has been filed against ERCOT and CenterPoint Energy (CNP) following the death of a 95-year-old Houston man, Doyle Aron Austin, during a winter storm-related blackout. The lawsuit, initiated by Austin's family, claims the companies neglected infrastructure and failed to prepare for the storm, despite accurate weather predictions. As temperatures plummeted, Austin succumbed to the cold after more than two days without electricity or gas. The lawsuit seeks accountability for the companies' actions during this public health emergency, which disproportionately affected low-income areas.

CenterPoint Energy, Inc. (NYSE: CNP) has appointed Wendy Montoya Cloonan to its Board of Directors, effective immediately. With over a decade of experience in public finance and law, Wendy recently established her own law firm. She has held significant roles, including Commissioner of the Port of Houston Authority. Executive Chairman Milton Carroll noted Wendy's legal and civic expertise as vital for the company's long-term growth strategy. CenterPoint Energy serves more than 7 million customers across multiple states, boasting assets worth approximately $33 billion.

CenterPoint Energy, Inc. (NYSE: CNP) announced its support for the merger between Enable Midstream Partners, LP and Energy Transfer LP. CenterPoint will exchange its 53.7% investment in Enable for Energy Transfer common units at a ratio of 0.8595x, alongside receiving $5 million in cash and approximately $385 million in Energy Transfer preferred units. This move aligns with CenterPoint's strategy to minimize midstream exposure and enhance its regulated utility operations, projecting utility EPS growth of 6%-8%. Total transaction expenses are expected to be $45 million, including a $30 million payment to OGE.

CenterPoint Energy (NYSE: CNP) announced two key senior finance appointments aimed at strengthening its leadership team and advancing its long-term growth strategy. Stacey Peterson will serve as Senior Vice President, Financial Planning & Treasurer, effective January 11, overseeing financial risk and a five-year capital investment plan exceeding $16 billion. Philip Holder will be Senior Vice President, Strategic Planning & Investor Relations, effective January 25, focusing on corporate strategy and investor communications. These appointments signal the company's commitment to enhancing value for customers and shareholders.

CenterPoint Energy (NYSE: CNP) announced a regular quarterly cash dividend of $0.1600 per share on its Common Stock, reflecting a 6.7% increase from the previous dividend of $0.1500. This dividend will be payable on March 11, 2021, to stockholders of record as of February 18, 2021. Additionally, a semiannual dividend of $30.6250 for Series A Preferred Stock and a quarterly dividend of $17.5000 for Series B Preferred Stock were declared, both payable on March 1, 2021, to respective holders recorded as of February 15, 2021.

CenterPoint Energy, Inc. (NYSE: CNP) announced on December 3, 2020, that Moody's Investors Service upgraded its rating outlook from Negative to Stable, while affirming a Baa2 senior unsecured rating and a Prime–2 short–term rating for commercial paper. This change reflects the company's successful efforts to stabilize credit metrics and improve liquidity and overall financial stability. CenterPoint, serving over 7 million customers across several states, owns approximately $33 billion in assets and has a significant stake in Enable Midstream Partners, LP.