JPMorgan Chase & Co. Forecasts Strong Price Appreciation for CenterPoint Energy (NYSE:CNP) Stock

CenterPoint Energy (NYSE:CNP) had its price target hoisted by analysts at JPMorgan Chase & Co. from $45.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 9.69% from the stock’s previous close.

Several other brokerages have also weighed in on CNP. Wells Fargo & Company reiterated an “overweight” rating and set a $48.00 price objective on shares of CenterPoint Energy in a report on Tuesday, April 21st. Wall Street Zen lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Jefferies Financial Group set a $50.00 price target on shares of CenterPoint Energy in a research note on Thursday, June 18th. BMO Capital Markets lifted their price target on shares of CenterPoint Energy from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, BTIG Research began coverage on shares of CenterPoint Energy in a research note on Tuesday, June 30th. They set a “neutral” rating for the company. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, CenterPoint Energy has an average rating of “Hold” and an average price target of $45.31.

CenterPoint Energy Trading Up 0.3%

NYSE CNP traded up $0.13 during mid-day trading on Thursday, reaching $42.85. 2,977,855 shares of the stock were exchanged, compared to its average volume of 5,555,510. CenterPoint Energy has a 1-year low of $35.94 and a 1-year high of $45.22. The business’s fifty day simple moving average is $42.96 and its 200 day simple moving average is $42.07. The stock has a market capitalization of $28.03 billion, a PE ratio of 26.29, a PEG ratio of 2.59 and a beta of 0.46. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.04 and a current ratio of 1.16.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $1.98 billion. CenterPoint Energy had a net margin of 11.38% and a return on equity of 10.56%. During the same period in the prior year, the firm earned $0.53 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, research analysts anticipate that CenterPoint Energy will post 1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CenterPoint Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC purchased a new position in CenterPoint Energy in the 4th quarter worth approximately $254,000. AQR Capital Management LLC raised its stake in shares of CenterPoint Energy by 15.6% during the first quarter. AQR Capital Management LLC now owns 76,100 shares of the utilities provider’s stock valued at $2,757,000 after purchasing an additional 10,277 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CenterPoint Energy by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,683 shares of the utilities provider’s stock valued at $2,525,000 after purchasing an additional 3,821 shares during the period. Empowered Funds LLC lifted its position in shares of CenterPoint Energy by 11.5% during the first quarter. Empowered Funds LLC now owns 13,411 shares of the utilities provider’s stock worth $486,000 after purchasing an additional 1,384 shares in the last quarter. Finally, Woodline Partners LP lifted its position in shares of CenterPoint Energy by 40.7% during the first quarter. Woodline Partners LP now owns 55,061 shares of the utilities provider’s stock worth $1,995,000 after purchasing an additional 15,922 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

About CenterPoint Energy

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.