CenterPoint Energy (NYSE:CNP) had its price objective cut by Wells Fargo & Co from $33.00 to $32.00 in a report issued on Wednesday, September 18th, BenzingaRatingsTable reports. They currently have an outperform rating on the utilities provider’s stock.
A number of other research analysts have also recently weighed in on CNP. Stifel Nicolaus raised CenterPoint Energy from a hold rating to a buy rating and lifted their price objective for the company from $30.00 to $32.00 in a research report on Friday, September 6th. Goldman Sachs Group lifted their price objective on CenterPoint Energy from $31.00 to $32.00 and gave the company a buy rating in a research report on Tuesday, July 2nd. Morgan Stanley lifted their price objective on CenterPoint Energy from $30.00 to $31.00 and gave the company an equal weight rating in a research report on Friday, June 14th. SunTrust Banks raised CenterPoint Energy from a hold rating to a buy rating and lifted their price objective for the company from $30.00 to $32.00 in a research report on Friday, September 6th. Finally, Mizuho assumed coverage on CenterPoint Energy in a report on Monday, June 3rd. They issued a buy rating and a $31.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $32.02.
Shares of CenterPoint Energy stock traded up $0.11 during trading hours on Wednesday, reaching $28.27. 3,331,661 shares of the stock traded hands, compared to its average volume of 4,619,010. CenterPoint Energy has a one year low of $26.74 and a one year high of $31.42. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 3.11 and a beta of 0.48. The company has a 50 day moving average price of $28.99 and a 200 day moving average price of $29.33.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.04. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 28.0% on a year-over-year basis. Sell-side analysts anticipate that CenterPoint Energy will post 1.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 15th were issued a $0.2875 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.15 dividend on an annualized basis and a yield of 4.07%. CenterPoint Energy’s dividend payout ratio is presently 71.88%.
In related news, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $30.06, for a total value of $210,420.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 21,000 shares of company stock worth $608,510. 0.24% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. bought a new stake in CenterPoint Energy in the 1st quarter worth approximately $25,000. Bremer Bank National Association bought a new stake in CenterPoint Energy in the 1st quarter worth approximately $49,000. Advantage Investment Management LLC increased its stake in CenterPoint Energy by 432.7% in the 2nd quarter. Advantage Investment Management LLC now owns 1,598 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 1,298 shares during the last quarter. Resources Investment Advisors Inc. increased its stake in CenterPoint Energy by 1,415.1% in the 1st quarter. Resources Investment Advisors Inc. now owns 1,606 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 1,500 shares during the last quarter. Finally, TD Capital Management LLC bought a new stake in CenterPoint Energy in the 2nd quarter worth approximately $47,000. 80.21% of the stock is currently owned by institutional investors and hedge funds.
About CenterPoint Energy
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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