CenterPoint Energy (NYSE:CNP) had its target price reduced by equities researchers at UBS Group from $32.00 to $29.00 in a report released on Wednesday, Marketbeat.com reports. The firm currently has a “buy” rating on the utilities provider’s stock. UBS Group’s price objective points to a potential upside of 16.98% from the stock’s previous close.
CNP has been the subject of a number of other research reports. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, October 14th. Bank of America downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a report on Friday, November 15th. Goldman Sachs Group decreased their target price on CenterPoint Energy from $33.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Guggenheim lowered CenterPoint Energy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $29.00 in a research report on Friday, November 15th. Finally, Credit Suisse Group cut CenterPoint Energy from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $31.00 to $28.00 in a report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. CenterPoint Energy has an average rating of “Hold” and a consensus target price of $29.07.
CNP stock opened at $24.79 on Wednesday. The company has a market capitalization of $12.33 billion, a PE ratio of 15.49, a P/E/G ratio of 3.07 and a beta of 0.42. CenterPoint Energy has a 12 month low of $24.25 and a 12 month high of $31.42. The firm’s 50-day moving average is $27.16 and its 200 day moving average is $28.46. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.99 and a quick ratio of 0.83.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.91 billion. CenterPoint Energy had a net margin of 6.23% and a return on equity of 14.51%. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. Sell-side analysts forecast that CenterPoint Energy will post 1.68 EPS for the current fiscal year.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $29.02, for a total transaction of $203,140.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 21,000 shares of company stock valued at $585,060 in the last three months. 0.24% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Martin Capital Partners LLC purchased a new stake in shares of CenterPoint Energy during the 3rd quarter worth $204,000. DekaBank Deutsche Girozentrale boosted its position in CenterPoint Energy by 134.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,622,538 shares of the utilities provider’s stock valued at $46,308,000 after purchasing an additional 931,444 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in CenterPoint Energy during the second quarter valued at about $1,029,000. LPL Financial LLC grew its stake in CenterPoint Energy by 1.4% in the second quarter. LPL Financial LLC now owns 126,886 shares of the utilities provider’s stock valued at $3,633,000 after purchasing an additional 1,769 shares during the last quarter. Finally, Comerica Bank grew its stake in CenterPoint Energy by 3.0% in the third quarter. Comerica Bank now owns 209,517 shares of the utilities provider’s stock valued at $6,319,000 after purchasing an additional 6,118 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
CenterPoint Energy Company Profile
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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