CenterPoint Energy dips after $800 mln stock offering launch

CenterPoint Energy

27/05/2025 21:54

**  Shares of utility CenterPoint Energy CNP.N down 1.9% post-market to $37 as it seeks capital raise

    ** Houston, Texas-based co commences $800 mln stock offering with forward sale component

    ** It plans to enter into forward sales agreements with bookrunners BoFA, Mizuho and JP Morgan

    ** Upon settlement of such agreements, expected to occur no later than Feb 25, 2027, CNP plans to use net proceeds for general purposes, including commercial or other debt repayment

    ** With ~652.7 mln shares outstanding, CNP has ~$24.6 bln market cap

    ** CNP shares on Tues closed up 0.4% at $37.73

    ** Last month, CNP raised its 10-yr capex plan through 2030 by $1 bln to $48.5 bln, betting on surge in AI power demand

    ** YTD, stock up 19% vs S&P 500 Utilities index's .SPLRCU ~7% advance

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))