2024-06-22 08:00:00 ET
Summary
- CenterPoint Energy shares have risen steadily since reporting solid Q1 earnings, sitting near a 52-week-high.
- CenterPoint Energy's earnings rose 10% in Q1 due to higher rates from its capital investment and ongoing cost control.
- CenterPoint Energy aims for 6-8% annual EPS and dividend growth through 2030, supported by a $44.5 billion 10-year cap-ex plan.
- With investment focused on resilience and Texas's population growth, this is a credible plan for ongoing dividend growth.
Shares of CenterPoint Energy ( CNP ) have been a modest performer over the past year, rising just 7%, and lagging the broader market as elevated interest rates have weighed on utility valuations. However, shares have been rising steadily since reporting solid Q1 earnings and sit near a 52-week high. I last covered CenterPoint in March , rating shares a “buy,” and since that recommendation, CNP has returned 12%, ahead of the market’s 6% rally. I remain bullish...
Read the full article on Seeking Alpha
For further details see:
CenterPoint Energy: Poised For Steady Long-Term Growth