The utility boosted its 10-year capital plan on surging data center demand in its Houston service area.
CenterPoint Energy (CNP) shares climbed 2.3% to a record $45.26 after reporting stronger-than-expected Q2 adjusted earnings. The company also increased its 10-year capital investment plan by $1.2 billion, citing rising power demand driven by data centers in its Houston service territory.
The earnings beat follows a period of elevated infrastructure spending and aligns with broader utility sector trends as industrial and tech-driven power consumption grows. Prior quarter results had shown steady but modest gains, making the capex revision a notable shift.
Trading volume surged alongside the price gain, reflecting investor optimism about the company’s growth outlook.