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CenterPoint Energy Inc. (NYSE:CNP) announced changes to its board leadership structure on Wednesday. According to a statement in a press release based on a recent SEC filing, the board of directors unanimously appointed Jason P. Wells, the company’s chief executive officer and president, to serve as chair of the board, effective immediately. Wells has been a director on the board since January 5, 2024.
The board also created a new position of lead director. Independent director Christopher H. Franklin was unanimously appointed by the independent directors to fill this role, also effective immediately. Franklin is noted in the company’s statement for his leadership experience in the utility industry and public company board service.
These changes were made following the unanimous recommendation of the board’s Corporate Governance and Nominating Committee. The company’s amended corporate governance guidelines, which outline the duties of the lead director, are available on its investor relations website.
CenterPoint Energy is incorporated in Texas and is headquartered in Houston. The company’s common stock is listed on the New York Stock Exchange under the symbol CNP.
All information is based on a press release statement and the company’s Form 8-K filed with the Securities and Exchange Commission.
In other recent news, CenterPoint Energy has announced pricing terms for its cash tender offers, aiming to purchase up to $500 million of outstanding debt securities. The company plans to buy up to $300 million of its senior notes and $200 million of general mortgage bonds from its subsidiary, CenterPoint Energy Houston Electric, LLC. Additionally, CenterPoint Energy has unveiled a $65 billion capital investment plan through 2035 to address increasing electric demand, particularly in Texas. In terms of analyst updates, BMO Capital has raised its price target for CenterPoint Energy to $41, maintaining a Market Perform rating, reflecting the company’s updated long-term financial plan with an EPS growth projection of 7-9% through 2030. Mizuho has also increased its price target to $40, noting the company’s revised EPS guidance for 2025 and new guidance for 2026. Wolfe Research has further adjusted its price target to $43, citing CenterPoint’s projected rate base growth of approximately 11% through 2030. This growth is attributed to customer expansion in key service territories, including Houston Electric’s expected annual customer growth of about 2%. These developments reflect CenterPoint Energy’s strategic efforts to enhance its financial and operational outlook.
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