Shares of CenterPoint Energy, Inc. (NYSE:CNP) have earned an average rating of “Buy” from the sixteen research firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $31.79.
CNP has been the topic of several research reports. Wells Fargo & Co lowered their target price on CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Monday. Barclays upgraded CenterPoint Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Tuesday, August 13th. Stifel Nicolaus upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $30.00 to $32.00 in a research note on Friday, September 6th. Finally, SunTrust Banks upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $30.00 to $32.00 in a research note on Friday, September 6th.
In related news, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.84, for a total transaction of $194,880.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 21,000 shares of company stock worth $608,510. 0.24% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia grew its position in CenterPoint Energy by 6,371.8% during the second quarter. Commonwealth Bank of Australia now owns 7,309,813 shares of the utilities provider’s stock worth $209,268,000 after buying an additional 7,196,865 shares in the last quarter. Zimmer Partners LP purchased a new position in CenterPoint Energy during the second quarter worth about $138,386,000. Renaissance Technologies LLC grew its position in CenterPoint Energy by 96.7% during the second quarter. Renaissance Technologies LLC now owns 4,486,500 shares of the utilities provider’s stock worth $128,448,000 after buying an additional 2,205,900 shares in the last quarter. Russell Investments Group Ltd. grew its position in CenterPoint Energy by 21.9% during the second quarter. Russell Investments Group Ltd. now owns 4,229,213 shares of the utilities provider’s stock worth $120,997,000 after buying an additional 758,634 shares in the last quarter. Finally, Cohen & Steers Inc. grew its position in CenterPoint Energy by 6,123.3% during the second quarter. Cohen & Steers Inc. now owns 3,836,236 shares of the utilities provider’s stock worth $109,831,000 after buying an additional 3,774,593 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.
CenterPoint Energy stock traded down $0.32 during mid-day trading on Monday, reaching $27.95. 69,541 shares of the company’s stock were exchanged, compared to its average volume of 4,626,769. The business’s fifty day simple moving average is $28.99 and its 200 day simple moving average is $29.33. The firm has a market capitalization of $14.14 billion, a PE ratio of 17.51, a P/E/G ratio of 3.11 and a beta of 0.48. 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.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. CenterPoint Energy’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. On average, sell-side analysts forecast that CenterPoint Energy will post 1.66 earnings per share for the current year.
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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