CenterPoint Energy (NYSE:CNP) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. SunTrust Banks reiterated a “hold” rating and set a $30.00 target price on shares of CenterPoint Energy in a report on Monday, August 6th. JPMorgan Chase & Co. upped their target price on CenterPoint Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday. Wells Fargo & Co upgraded CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Monday, October 8th. Finally, Bank of America upgraded CenterPoint Energy from an “underperform” rating to a “neutral” rating in a report on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $29.25.
CNP stock opened at $27.34 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 1.66. The stock has a market cap of $11.93 billion, a PE ratio of 19.97, a PEG ratio of 2.92 and a beta of 0.44. CenterPoint Energy has a fifty-two week low of $24.81 and a fifty-two week high of $30.17.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, August 3rd. The utilities provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. As a group, equities research analysts anticipate that CenterPoint Energy will post 1.61 EPS for the current fiscal year.
In related news, insider Milton Carroll sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $27.54, for a total value of $110,160.00. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock worth $504,820 in the last quarter. 0.22% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DnB Asset Management AS raised its stake in CenterPoint Energy by 4.7% in the second quarter. DnB Asset Management AS now owns 68,513 shares of the utilities provider’s stock valued at $1,898,000 after buying an additional 3,100 shares during the period. IFM Investors Pty Ltd raised its stake in CenterPoint Energy by 33.4% in the second quarter. IFM Investors Pty Ltd now owns 23,532 shares of the utilities provider’s stock valued at $652,000 after buying an additional 5,887 shares during the period. First Citizens Bank & Trust Co. bought a new stake in CenterPoint Energy in the second quarter valued at approximately $1,018,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in CenterPoint Energy by 48.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 249,687 shares of the utilities provider’s stock valued at $6,919,000 after buying an additional 81,698 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its stake in CenterPoint Energy by 27.2% in the second quarter. Campbell & CO Investment Adviser LLC now owns 22,000 shares of the utilities provider’s stock valued at $610,000 after buying an additional 4,700 shares during the period. Institutional investors and hedge funds own 77.39% of the company’s stock.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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