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
- 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”