HOUSTON - CenterPoint Energy, Inc. (NYSE: NYSE:CNP), currently trading near its 52-week high at $31.94, has announced the appointment of Dean Seavers to its Board of Directors, effective December 31, 2024. Seavers, with a wealth of experience in the utility sector, is set to fill an upcoming vacancy and is expected to be nominated for election at the 2025 annual shareholders meeting. According to InvestingPro analysis, the company maintains a Fair financial health rating and boasts a market capitalization of $20.8 billion.
Seavers' background includes serving as President of National Grid (LON:NG) U.S. and as Executive Director of its parent company. His role as a Senior Advisor for Stifel Financial (NYSE:SF) and his past leadership at Red Hawk Fire & Security, as well as his tenure with United Technologies Corporation (NYSE:RTX)'s Fire & Security business, positions him as a seasoned executive in the industry.
Phillip R. Smith, Independent (LON:IOG) Chair of CenterPoint's Board, expressed confidence in Seavers' ability to contribute to the company's growth and operational excellence, emphasizing the value he brings to stakeholders. Seavers himself expressed enthusiasm for enhancing the company's governance and supporting its long-term resilience and growth objectives.
In addition to his upcoming role at CenterPoint, Seavers serves on the boards of Albemarle (NYSE:ALB) Corp., Ametek Inc (NYSE:AME)., and Vine Hill Capital Investment Corp. His academic credentials include a bachelor's degree from Kent State University and an MBA from Stanford University.
CenterPoint Energy, a prominent energy delivery company, operates electric transmission and distribution, power generation, and natural gas distribution services, catering to over 7 million customers across six states. The company, with a legacy spanning over 150 years, owns assets worth approximately $43 billion and employs around 9,000 individuals. Notable for its 54-year streak of consecutive dividend payments, CenterPoint currently offers a 2.63% dividend yield. InvestingPro subscribers can access detailed financial analysis, including 8 key ProTips and comprehensive valuation metrics in the Pro Research Report.
The appointment is based on a press release statement and is part of CenterPoint Energy's ongoing efforts to strengthen its leadership team and corporate governance. With a P/E ratio of 21.19 and a current ratio of 1.11, investors seeking deeper insights into CNP's financial position can access the full suite of metrics and analysis through InvestingPro's comprehensive research tools.
In other recent news, CenterPoint Energy has been in the spotlight due to a series of significant developments. The company reported Q3 earnings per share of $0.31, meeting consensus estimates, and reiterated its 2024 guidance range of $1.61 to $1.63. Furthermore, it initiated its 2025 non-GAAP EPS guidance at $1.74 to $1.76 per share, indicating an 8% growth from 2024. In terms of analyst ratings, Ladenburg Thalmann set a Buy rating on CenterPoint Energy stock, while Scotiabank (TSX:BNS) and UBS upgraded the company, raising their price targets to $35 and $37 respectively. Other firms such as Mizuho (NYSE:MFG) Securities and BMO Capital Markets also increased their price targets. On the operational front, board member Barry T. Smitherman announced his resignation, effective December 31, 2024. Finally, the company plans a $4.9 billion investment for 2025, contributing to a 10-year capital plan of $47 billion. These are recent developments for CenterPoint Energy.
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