Houston Electric Continues to Deliver for CenterPoint; Full-Year Guidance Increased

We are increasing our CenterPoint Energy fair value estimate to $29 per share from $28 after the company reported second-quarter operating utility earnings per share of $0.31, up from $0.28 in the year-ago period. Management increased its 2022 utility EPS guidance to $1.37-$1.39, a $0.01 increase from its prior guidance range. Management reaffirmed its 8% utility earnings guidance growth through 2024 off the new base, among the industry's highest, and in line with our estimates.