CenterPoint Energy (NYSE:CNP) Reaches New 1-Year High at $33.50

CenterPoint Energy, Inc. (NYSE:CNPGet Rating) reached a new 52-week high on Friday . The company traded as high as $33.50 and last traded at $31.56, with a volume of 4792495 shares. The stock had previously closed at $31.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CNP shares. Barclays decreased their price target on CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Evercore ISI upped their target price on CenterPoint Energy to $33.00 in a research report on Tuesday, August 9th. KeyCorp dropped their price target on CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. Finally, Morgan Stanley upped their price objective on CenterPoint Energy from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.

CenterPoint Energy Price Performance

The company has a 50 day moving average of $31.69 and a two-hundred day moving average of $30.82. The firm has a market cap of $19.87 billion, a P/E ratio of 13.03, a PEG ratio of 5.93 and a beta of 0.86. The company has a quick ratio of 0.88, a current ratio of 1.03 and a debt-to-equity ratio of 1.43.

CenterPoint Energy (NYSE:CNPGet Rating) last announced its earnings results on Tuesday, August 2nd. The utilities provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. CenterPoint Energy had a return on equity of 10.92% and a net margin of 18.16%. During the same quarter in the previous year, the company earned $0.36 earnings per share. Sell-side analysts expect that CenterPoint Energy, Inc. will post 1.38 EPS for the current year.

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.28%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, August 17th. CenterPoint Energy’s dividend payout ratio is currently 29.63%.

Institutional Investors Weigh In On CenterPoint Energy

Hedge funds have recently modified their holdings of the stock. Profund Advisors LLC lifted its stake in CenterPoint Energy by 8.1% in the 1st quarter. Profund Advisors LLC now owns 29,273 shares of the utilities provider’s stock worth $897,000 after acquiring an additional 2,182 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in CenterPoint Energy in the 1st quarter worth about $48,000. Bridgewater Associates LP purchased a new stake in CenterPoint Energy in the 4th quarter worth about $966,000. Cetera Advisor Networks LLC lifted its stake in CenterPoint Energy by 1.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 51,711 shares of the utilities provider’s stock worth $1,584,000 after acquiring an additional 766 shares in the last quarter. Finally, Quantitative Investment Management LLC lifted its stake in CenterPoint Energy by 11.9% in the 1st quarter. Quantitative Investment Management LLC now owns 32,589 shares of the utilities provider’s stock worth $998,000 after acquiring an additional 3,466 shares in the last quarter. 88.94% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Company Profile

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CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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