CenterPoint Energy Downgraded by UBS AG to “Neutral” (CNP)

CenterPoint Energy (NYSE:CNP) was downgraded by analysts at UBS AG from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $26.00 target price on the stock. UBS AG’s target price indicates a potential upside of 5.99% from the stock’s previous close. The analysts noted that the move was a valuation call.

Shares of CenterPoint Energy (NYSE:CNP) traded down 0.08% during mid-day trading on Thursday, hitting $24.51. CenterPoint Energy has a 52 week low of $18.79 and a 52 week high of $25.65. The stock’s 50-day moving average is currently $24.0. The company has a market cap of $10.505 billion and a P/E ratio of 55.62.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.02. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 24.2% on a year-over-year basis. Analysts expect that CenterPoint Energy will post $1.22 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie upgraded shares of CenterPoint Energy from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, July 1st. They now have a $27.00 price target on the stock, up previously from $26.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of CenterPoint Energy in a research note to investors on Tuesday, May 28th. They now have a $25.00 price target on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of CenterPoint Energy in a research note to investors on Friday, May 24th. They set a “hold” rating and a $25.00 price target on the stock.

One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $25.78.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 10th. Investors of record on Friday, August 16th will be given a dividend of $0.21 per share. This represents a $0.83 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, August 14th.

CenterPoint Energy, Inc is a public utility holding company whose indirect wholly owned subsidiaries include CenterPoint Energy Houston Electric, LLC (NYSE:CNP), which engages in the electric transmission and distribution business in a 5,000-square mile area of the Texas Gulf Coast, which includes the city of Houston, and CenterPoint Energy Resources Corp.