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 reported Q3 2022 earnings of $0.30 per diluted share (GAAP) and $0.32 (non-GAAP), reflecting a 28% increase in non-GAAP EPS compared to Q3 2021. The company reiterated its 2022 non-GAAP EPS guidance of $1.37-$1.39, projecting 9% growth year-over-year. For 2023, it initiated a guidance range of $1.48-$1.50, indicating 8% growth. CenterPoint also revealed a $2.3B increase in its long-term capital plan, raising it to nearly $43B through 2030 for grid modernization. Additionally, it identified $3B in further capital opportunities.
CenterPoint Energy announced the promotion of Jason P. Wells to President and Chief Operating Officer, effective
On September 29, 2022, CenterPoint Energy, Inc. (NYSE: CNP) announced a quarterly cash dividend of $0.1800 per share. This dividend is payable on December 8, 2022, to shareholders of record by the close of business on November 17, 2022. CenterPoint Energy operates as the only investor-owned electric and gas utility in Texas, serving over 7 million customers across several states. The company maintains approximately $35 billion in assets and has a workforce of around 8,900 employees.
CenterPoint Energy, Inc. (NYSE: CNP) has announced its upcoming Third Quarter 2022 Earnings Conference Call set for November 1, 2022, at 7:00 a.m. Central Time. The company, a leading energy delivery provider in Texas, serves over 7 million customers across multiple states. With approximately $35 billion in assets as of June 30, 2022, CenterPoint has maintained strong operational performance for over 150 years. Interested investors can access the call through their website.
CenterPoint Energy reported Q2 2022 earnings of $0.28 per diluted share on a GAAP basis and $0.31 on a non-GAAP basis, reflecting an 11% increase from Q2 2021. Full-year 2022 non-GAAP EPS guidance has been raised to $1.37-$1.39, indicating a 9% growth at midpoint compared to 2021. The company emphasizes ongoing capital investments, with ~$2 billion spent so far this year, supporting an average annual customer growth of at least 2% in the Houston area. CenterPoint aims to maintain an annual non-GAAP EPS growth of 8% through 2024 and 6-8% from 2025 to 2030.
CenterPoint Energy (NYSE: CNP) has announced plans to acquire a new 130-megawatt solar array in Pike County, Indiana, pending approval from the Indiana Utility Regulatory Commission (IURC). This initiative is part of the company's Smart Energy Future Plan, which aims to diversify its energy portfolio and meet sustainability goals. The project will contribute nearly 800 MW of solar generation to power customers in southwestern Indiana. Construction is set to start after IURC approval, anticipated in early 2023, and is expected to create 130 construction jobs.
CenterPoint Energy, Inc. (NYSE: CNP) announced a quarterly cash dividend of $0.1800 per share on its Common Stock, an increase of $0.01 over the previous quarter, reflecting an 8% annual growth compared to 2021. This dividend is payable on September 8, 2022 to shareholders of record by August 18, 2022. Additionally, a semiannual dividend of $30.6250 per share on Series A Preferred Stock is set for payment on September 1, 2022.
CenterPoint Energy, Inc. (NYSE: CNP) has completed a significant restructuring to enhance its corporate structure post-acquisition of Vectren Corporation in 2019. The transaction included a $302 million exchange of Vectren Utility Holdings private placement notes for new notes issued by CenterPoint Energy Resources Corp. This consolidation allows for more efficient financing of natural gas distribution and is expected to yield long-term savings for customers. Additionally, the restructuring facilitates Southern Indiana Gas and Electric Company’s ability to securitize coal facility retirement costs, potentially reducing expenses by up to $60 million.
On August 2, 2022, CenterPoint Energy, Inc. (NYSE: CNP) will hold its second quarter earnings conference call at 7:00 a.m. CT. The company, serving over 7 million customers across several states, reported asset ownership of approximately $35 billion as of March 31, 2022.
CenterPoint Energy is the only investor-owned electric and gas utility based in Texas, with a rich history spanning over 150 years. The conference call can be accessed online via the company's investor relations page for detailed insights into their financial performance.
CenterPoint Energy (NYSE: CNP) has received approval from the Indiana Utility Regulatory Commission to construct two natural gas combustion turbines (CTs), a significant move in its generation transition plan. The $334 million project aims to provide 460 megawatts of output, replacing coal-fired generation and enhancing renewable energy use. This shift is projected to save customers $320 million over 20 years. Additionally, the company is seeking securitization for A.B. Brown assets, which could yield $60 million in savings. Customer electric bills are not expected to rise immediately.
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