Truist Financial Upgrades CenterPoint Energy (NYSE:CNP) to “Strong-Buy”

CenterPoint Energy (NYSE:CNP) was upgraded by Truist Financial to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on CNP. Wall Street Zen raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Bank of America lifted their target price on CenterPoint Energy from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $48.00 target price on shares of CenterPoint Energy in a research note on Tuesday. Jefferies Financial Group lifted their target price on CenterPoint Energy from $44.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, KeyCorp lifted their target price on CenterPoint Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.15.

CenterPoint Energy Trading Down 0.9%

CenterPoint Energy stock opened at $42.33 on Monday. The company has a 50 day moving average price of $42.98 and a 200 day moving average price of $40.45. CenterPoint Energy has a 52 week low of $35.46 and a 52 week high of $44.47. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.91. The firm has a market capitalization of $27.69 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.53 and a beta of 0.54.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.23 billion. CenterPoint Energy had a return on equity of 10.46% and a net margin of 11.24%.During the same period in the prior year, the business posted $0.40 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.900- EPS. Research analysts forecast that CenterPoint Energy will post 1.9 EPS for the current year.

Institutional Investors Weigh In On CenterPoint Energy

A number of institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of CenterPoint Energy by 49.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock valued at $27,000 after buying an additional 235 shares during the period. Zacks Investment Management boosted its stake in shares of CenterPoint Energy by 0.8% during the 3rd quarter. Zacks Investment Management now owns 31,142 shares of the utilities provider’s stock valued at $1,208,000 after buying an additional 256 shares during the period. Mather Group LLC. boosted its stake in shares of CenterPoint Energy by 2.1% during the 3rd quarter. Mather Group LLC. now owns 13,050 shares of the utilities provider’s stock valued at $506,000 after buying an additional 264 shares during the period. Salomon & Ludwin LLC boosted its stake in shares of CenterPoint Energy by 16.1% during the 4th quarter. Salomon & Ludwin LLC now owns 2,226 shares of the utilities provider’s stock valued at $85,000 after buying an additional 308 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in shares of CenterPoint Energy by 9.0% during the 3rd quarter. Global Retirement Partners LLC now owns 3,745 shares of the utilities provider’s stock valued at $145,000 after buying an additional 309 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.