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 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.
CenterPoint Energy (NYSE: CNP), based in Texas, provides electric and gas utility services to over 7 million customers across multiple states. As of September 30, 2020, the company boasts approximately $33 billion in assets and holds a 53.7% stake in Enable Midstream Partners. With a workforce of about 9,600 employees, CenterPoint has a history of over 150 years in energy delivery, encompassing electric transmission, distribution, and power generation. For earnings results, the Q4 and full-year 2020 earnings conference call is scheduled for February 25, 2021, at 7:00 a.m. Central Time.
CenterPoint Energy (NYSE: CNP) announced Kenneth E. Coleman as the new Senior Vice President and Chief Information Officer, effective November 16, 2020. Coleman will oversee the company's IT strategy, focusing on enhancing business efficiency and customer experience through technology and analytics. Previously, he held senior roles at Southern Company and was CEO of the Birmingham Business Alliance. Coleman holds a Bachelor's degree in Communications and an MBA. CenterPoint serves over 7 million customers across multiple states and has $33 billion in assets as of September 30, 2020.
CenterPoint Energy reported a net income of $69 million, or $0.13 per diluted share, for Q3 2020, a significant decrease from $241 million, or $0.47 per diluted share, in Q3 2019. The results included $92 million in after-tax impairment charges from Enable Midstream. Despite the downturn, the company raised its 2020 Utility EPS guidance to $1.12 - $1.20, driven by projected 10% annual rate base growth and a commitment to consistent earnings growth. A virtual Investor Day is scheduled for December 7, 2020, to outline future strategies and financial outlooks.
CenterPoint Energy, Inc. (NYSE: CNP) released its 2020 Corporate Responsibility Report, titled We Deliver Responsibility, emphasizing its commitments in environmental, social, and governance (ESG) practices. Key highlights include a goal to cut operational emissions by 70% by 2035 and a 20-30% reduction in emissions from natural gas usage by 2040. The company also contributed $1.5 million to COVID-19 relief efforts and established a Diversity and Inclusion Council. The report follows the GRI framework and includes sustainability standards disclosures.
CenterPoint Energy (NYSE: CNP) will host a virtual Analyst Meeting on December 7, from 9 to 11 a.m. CT. The meeting aims to outline a multi-year strategy for maximizing stakeholder value, guided by recommendations from the Board's Business Review Committee. Presentations will include insights from President and CEO Dave Lesar and CFO Jason Wells. A live webcast will be available on the company's Investor Relations website and archived for later viewing. CenterPoint serves over 7 million customers across multiple states and holds assets worth approximately $32 billion.
On October 29, 2020, CenterPoint Energy, Inc. (NYSE: CNP) announced the declaration of dividends on its Common Stock and Series B Mandatory Convertible Preferred Stock. A quarterly cash dividend of $0.1500 per share for Common Stock will be payable on December 10, 2020, to shareholders of record as of November 19, 2020. Additionally, a quarterly cash dividend of $17.5000 per share for Series B Preferred Stock will be payable on December 1, 2020, to holders of record as of November 15, 2020, adjusted to November 13, 2020.
CenterPoint Energy Resources Corp. (CERC), a subsidiary of CenterPoint Energy (NYSE: CNP), has closed an offering of $500 million in 1.75% senior notes due 2030. The proceeds aim to cover general corporate purposes, including redeeming part of the outstanding 4.50% Senior Notes due 2021. Barclays, Citigroup, J.P. Morgan, and Mizuho Securities acted as joint bookrunners for the offering. As of June 30, 2020, CenterPoint Energy holds $32 billion in assets and serves over 7 million customers across multiple states.
CenterPoint Energy (NYSE: CNP) announced the appointment of Jason Wells as Executive Vice President and Chief Financial Officer, effective Sept. 28. He will oversee Finance, including Accounting and M&A, reporting to Dave Lesar. Wells, previously CFO at PG&E Corporation, brings a track record of driving financial strategies and improving customer rate affordability, projected to save $1.6 billion over three years. Lesar expressed confidence in Wells' ability to enhance stakeholder value and execute key initiatives that strengthen the company's utility-focused strategy.
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