CenterPoint Energy (NYSE:CNP) Now Covered by Analysts at TD Cowen

Investment analysts at TD Cowen assumed coverage on shares of CenterPoint Energy (NYSE:CNP) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $47.00 price target on the utilities provider’s stock. TD Cowen‘s price objective would suggest a potential upside of 14.04% from the stock’s previous close.

CNP has been the topic of a number of other research reports. Truist Financial lowered their price target on CenterPoint Energy from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 12th. HSBC assumed coverage on shares of CenterPoint Energy in a research report on Thursday. They set a “buy” rating and a $44.00 target price for the company. Morgan Stanley lifted their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup lowered their target price on CenterPoint Energy from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Finally, Barclays reduced their price objective on CenterPoint Energy from $44.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, CenterPoint Energy presently has a consensus rating of “Moderate Buy” and an average target price of $44.28.

CenterPoint Energy Stock Up 2.2%

Shares of CenterPoint Energy stock opened at $41.21 on Thursday. The company has a 50 day moving average of $38.99 and a 200 day moving average of $41.46. The company has a market capitalization of $27.15 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.67 and a beta of 0.47. CenterPoint Energy has a 52-week low of $36.37 and a 52-week high of $45.26. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.95.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.12 billion. CenterPoint Energy had a net margin of 11.61% and a return on equity of 11.10%. During the same quarter in the prior year, the business posted $0.29 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. As a group, research analysts forecast that CenterPoint Energy will post 1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On CenterPoint Energy

Hedge funds have recently bought and sold shares of the company. Deutsche Bank AG acquired a new stake in shares of CenterPoint Energy during the second quarter worth $770,871,000. Bank of America Corp DE bought a new stake in shares of CenterPoint Energy in the 2nd quarter worth approximately $332,753,000. Legal & General Group Plc bought a new position in CenterPoint Energy during the 2nd quarter worth $250,273,000. GQG Partners LLC acquired a new stake in CenterPoint Energy in the second quarter worth $176,574,000. Finally, Bank of New York Mellon Corp bought a new stake in CenterPoint Energy in the 2nd quarter valued at about $163,893,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

About CenterPoint Energy

CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.

The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.