CenterPoint Energy Sees FY17 EPS In Line With View

(RTTNews) - CenterPoint Energy Inc. (CNP) said that it expects earnings for 2017 to be in the range of $1.25 to $1.33 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $1.25 per share for fiscal year 2017. Analysts' estimates typically exclude special items. The company anticipates 2017 capital spending of $1.5 billion, a 14 percent increase over the previous forecast for 2017 capital spending.

It reaffirmed its earnings guidance in a range of $1.16 to $1.20 per share for the year ending December 31, 2016. Analysts expect annual earnings of $1.18 per share.

Guidance for 2017 includes earnings per share growth expected to come from: utility growth, Increased earnings per Enable Midstream Partners' forecast, and Increased earnings contribution from CenterPoint Energy Services, partly attributable to recent acquisitions.

In addition to these drivers, the company expects lower interest expense and a full year of dividend income from CenterPoint's investment in Enable's preferred units.

Both the electric and gas utilities are expected to contribute to the growth in capital spending:Houston Electric anticipates capital spending of $922 million in 2017 in support of sustained industrial, commercial and residential customer growth. Gas Distribution anticipates capital spending of $534 million in 2017 to accommodate continued growth, particularly in the Houston metro and Minnesota jurisdictions, as well as pipe replacement needs in the six states served by CenterPoint.