CenterPoint Energy, Inc. (NYSE:CNP) has earned an average rating of “Hold” from the thirteen research firms that are covering the company. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $26.44.
Several brokerages have recently issued reports on CNP. Royal Bank of Canada lowered CenterPoint Energy from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $17.00 to $28.00 in a research note on Thursday, March 16th. They noted that the move was a valuation call. Deutsche Bank AG lifted their price target on CenterPoint Energy from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Barclays PLC raised their price objective on CenterPoint Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, March 20th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Monday, January 9th. Finally, TheStreet raised CenterPoint Energy from a “c+” rating to a “b-” rating in a report on Tuesday, January 10th.
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In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $27.45, for a total transaction of $27,450.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Guidant Wealth Advisors acquired a new position in shares of CenterPoint Energy during the third quarter worth about $107,000. Kernodle & Katon Asset Management Group LLC increased its position in shares of CenterPoint Energy by 2,490.1% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 4,714 shares of the utilities provider’s stock worth $109,000 after buying an additional 4,532 shares in the last quarter. Shinko Asset Management Co. Ltd. increased its position in shares of CenterPoint Energy by 618.5% in the third quarter. Shinko Asset Management Co. Ltd. now owns 8,248 shares of the utilities provider’s stock worth $192,000 after buying an additional 7,100 shares in the last quarter. Laurion Capital Management LP acquired a new position in shares of CenterPoint Energy during the third quarter worth about $200,000. Finally, MSI Financial Services Inc increased its position in shares of CenterPoint Energy by 24.3% in the third quarter. MSI Financial Services Inc now owns 8,985 shares of the utilities provider’s stock worth $209,000 after buying an additional 1,758 shares in the last quarter. 72.50% of the stock is currently owned by institutional investors.
Shares of CenterPoint Energy (NYSE:CNP) traded up 0.79% during mid-day trading on Friday, reaching $28.12. 3,180,858 shares of the company’s stock traded hands. The company has a market capitalization of $12.11 billion, a P/E ratio of 28.12 and a beta of 0.56. CenterPoint Energy has a 1-year low of $20.65 and a 1-year high of $28.46. The firm has a 50-day moving average price of $27.79 and a 200-day moving average price of $25.25.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Tuesday, February 28th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.02. CenterPoint Energy had a negative net margin of 2.46% and a positive return on equity of 15.00%. The business earned $2.08 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities research analysts forecast that CenterPoint Energy will post $1.30 earnings per share for the current fiscal year.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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