CenterPoint Energy, Inc. (NYSE:CNP) Receives $30.09 Average PT from Analysts

CenterPoint Energy, Inc. (NYSE:CNP) has been given an average recommendation of “Hold” by the eleven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $30.09.

A number of equities research analysts recently weighed in on CNP shares. Bank of America initiated coverage on CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $28.00 price target on shares of CenterPoint Energy in a research note on Monday, August 26th. Scotiabank boosted their price target on shares of CenterPoint Energy from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. downgraded shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $29.00 in a report on Friday, August 2nd. Finally, Morgan Stanley upped their target price on shares of CenterPoint Energy from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th.

Institutional Investors Weigh In On CenterPoint Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new position in shares of CenterPoint Energy during the first quarter worth approximately $25,000. Olistico Wealth LLC acquired a new position in CenterPoint Energy during the 2nd quarter worth $33,000. Rothschild Investment LLC acquired a new position in CenterPoint Energy during the 2nd quarter worth $33,000. First Horizon Advisors Inc. increased its stake in shares of CenterPoint Energy by 51.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock valued at $33,000 after buying an additional 375 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of CenterPoint Energy during the second quarter worth $36,000. Institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Up 2.9 %

Shares of CNP stock opened at $30.85 on Wednesday. CenterPoint Energy has a 12 month low of $25.41 and a 12 month high of $31.57. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The firm has a market cap of $20.11 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.64 and a beta of 0.92. The stock has a 50 day moving average of $29.32 and a 200-day moving average of $29.09.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. During the same period in the prior year, the company earned $0.40 EPS. On average, equities analysts predict that CenterPoint Energy will post 1.62 EPS for the current year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a yield of 2.72%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s payout ratio is currently 52.98%.

CenterPoint Energy Company Profile

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