Centerpoint Energy Inc - CNP STOCK NEWS

CenterPoint Energy, Inc. (CNP) reported a second-quarter 2021 income of $221 million, or $0.37 per diluted share, up from $59 million, or $0.11 per diluted share, in Q2 2020. Non-GAAP earnings were $0.36 per diluted share, driven by utility operations and midstream investments. The company raised its 2021 Utility EPS guidance to $1.25-$1.27, indicating an 8% growth target. CenterPoint invested $1.5 billion in the first half of 2021, expecting to reach $3.4 billion for the year. The company will outline its long-term strategy on September 23, 2021.

CenterPoint Energy (NYSE: CNP) announced a new independent board governance structure, appointing Martin Nesbitt as the independent chairman. This transition eliminates the Executive Chairman position, with Milton Carroll departing immediately as Executive Chairman and director. Following shareholder feedback, the Board aims to enhance governance while advancing its strategic plan. A multi-year retention agreement was established with CEO Dave Lesar to ensure leadership continuity. The company aims to leverage capital investment opportunities and focuses on exiting midstream investments while pursuing renewable energy growth.

CenterPoint Energy, Inc. (NYSE: CNP) announced the declaration of dividends for its Common Stock and Preferred Stocks. The quarterly cash dividend for Common Stock is set at $0.1600 per share, payable on September 9, 2021, to shareholders of record by August 19, 2021. For Series A Preferred Stock, a semiannual cash dividend of $30.6250 per share is scheduled for September 1, 2021, with a record date of August 15, 2021. Additionally, the Series B Preferred Stock dividend will be $17.5000 per share, also payable on September 1, 2021.

CenterPoint Energy (NYSE: CNP) filed an application with the Indiana Utility Regulatory Commission to construct two natural gas combustion turbines for $323 million, replacing coal-fired units. This initiative supports their long-term generation transition plan for cleaner energy. The turbines, with a total output of 460 MW, aim to lower carbon emissions by 75% while saving customers an estimated $320 million over 20 years. Construction is set for late 2022 with operations beginning in 2024, having no immediate impact on residential electric bills.

CenterPoint Energy, Inc. (NYSE: CNP), a Texas-based utility company, will hold its Second Quarter 2021 Earnings Conference call on August 5, 2021, at 7:00 a.m. Central time. The company serves over 7 million customers across several states, with approximately $36 billion in assets as of March 31, 2021. CenterPoint also holds a 53.7% stake in Enable Midstream Partners, LP, enhancing its natural gas and crude oil infrastructure portfolio. For more details, visit CenterPointEnergy.com.

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.