The latest business news around the world. Written by Market Business News's very own editorial team to deliver reliable, up to date, and honest news.

CenterPoint Energy – Company Information

0

CenterPoint Energy is an American energy delivery company headquartered in Houston, Texas.

The company is active in a wide range of utility operations.

It is composed of five main businesses: electric transmission and distribution, interstate natural gas pipelines, natural gas distribution, competitive natural gas sales and services, and field services.

CenterPoint Energy currently has 5,000-square-mile electric service territory in the Houston metropolitan are provides gas for around 3.2 million homes and businesses in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas.

The history of the company traces back to the formation of the Houston Gas Light Company (HGLP) in 1866 – which provided street lighting in coastal villages across southeast Texas.

HGLP merged with two other utility companies to form NorAm Energy Corp. In 1997 NorAm merged with Houston Industries, Inc., to form Reliant Energy, Inc.

After spinning off its retail electric sales and selling its electric generation assets, in 2002 the company changed its name to CenterPoint Energy.

It has assets worth a total of nearly $19 billion and a team of about 8,700 employees.

The company is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘CNP’.

Overview

CenterPoint Energy logo

  • CEO and President: Scott M. Prochazka
  • Type: Public
  • Industry: Utilities
  • Listed on the New York Stock Exchange (NYSE)
  • NYSE stock ticker symbol: CNP
  • S&P 500 Component
  • Revenue: $8.106 billion USD (2013)
  • Net income: $311 million USD (2013)
  • Employees: 8,720
  • Company head office: CenterPoint Energy Tower, Houston, Texas, USA
  • Investor relations contact number: 713) 207-6500
  • Website: http://www.centerpointenergy.com

Revenues (in $ millions) 2013 2012
Electric Transmission & Distribution $2,570 $2,540
Natural Gas Distribution $2,863 $2,342
Energy Services $2,401 $1,784
Interstate Pipelines $186 $502
Field Services $196 $506
Other Operations $14 $11
Eliminations $(124) $(233)
Total revenue $8,106 $7,452
Expenses (in $ millions)
Natural gas $3,908 $2,873
Operation and maintenance $1,847 $1,874
Depreciation and amortization $954 $1,050
Taxes other than income taxes $387 $365
Goodwill impairment $252
Total expenses $7,096 $6,414
Income data (in $ millions)
Operating Income $1,010 $1,038
Other Income (Expense) $(229) $(281)
Income Before Income Taxes $781 $757
Income Tax Expense $470 $340
Net income $311 $417
Common share data (in $)
Earnings per Common Share – Basic $0.73 $0.98
Earnings per Common Share – Diluted $0.72 $0.97
Balance sheet data (in $ millions)
Total Assets $21,870 $22,871
Total long-term debt $7,817 $8,357
Shareholders’ Equity $4,329 $4,301

Source: “CenterPoint Energy, Inc. Full Year 2013 Financial Results”