HOUSTON - CenterPoint Energy, Inc. (NYSE:CNP), a prominent energy delivery company valued at $20.8 billion, has announced key leadership transitions set to take place at the start of the new year. According to InvestingPro analysis, the company currently trades near its 52-week high of $33, suggesting strong market confidence in its strategic direction. Richard C. Leger has been appointed as the Senior Vice President of CenterPoint's multi-state Gas business, effective January 1, 2025. Bertha Villatoro will assume the role of Senior Vice President and Chief Human Resources Officer on the same date.
The leadership changes come as Lynne Harkel-Rumford, the current Executive Vice President and Chief Human Resources Officer, prepares for retirement on February 3, 2024. Harkel-Rumford, who has served the company for 25 years, will continue to advise CEO Jason Wells until her retirement.
Leger, who has been the interim lead of the Gas organization since July 2024, will oversee operations serving approximately 4.2 million customers across six states. His career with CenterPoint and its predecessors spans 24 years, during which he has held various positions in utility leadership, regulatory affairs, and business process optimization. Leger is also actively involved with several industry associations and community organizations.
Villatoro brings nearly two decades of business and HR leadership experience within the energy sector to her new role. Her responsibilities will encompass talent development, compensation and benefits, labor relations, and organizational development. Villatoro's career has included progressively responsible positions at CenterPoint Energy, Kinder Morgan (NYSE:KMI), and El Paso Corporation.
President & CEO Jason Wells expressed gratitude to Harkel-Rumford for her contributions and welcomed the new appointees, highlighting their roles in fostering a culture of innovation and accountability at CenterPoint.
CenterPoint Energy, headquartered in Texas, operates electric and gas utilities serving over 7 million customers in various states. As of September 30, 2024, the company reported owning assets worth approximately $43 billion and employing around 9,000 staff. The company's history dates back over 150 years, with InvestingPro data showing an impressive 54-year track record of consecutive dividend payments and a current yield of 2.63%. Want deeper insights? InvestingPro offers comprehensive analysis with 8 additional key ProTips and a detailed Pro Research Report, available among 1,400+ top US stocks.
This announcement is based on a press release statement and includes forward-looking statements subject to risks, uncertainties, and assumptions. Actual results may differ from those projected. The company maintains a Fair overall financial health score according to InvestingPro analysis, with liquid assets exceeding short-term obligations. For more information on CenterPoint Energy and its operations, please visit CenterPointEnergy.com or access the comprehensive Pro Research Report for expert analysis and actionable intelligence.
In other recent news, CenterPoint Energy has seen 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, 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. The company plans a $4.9 billion investment for 2025, contributing to a 10-year capital plan of $47 billion. Lastly, CenterPoint Energy announced the appointment of Dean Seavers to its Board of Directors, effective December 31, 2024. These are recent developments for CenterPoint Energy.
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