Brokerages Set CenterPoint Energy, Inc. (NYSE:CNP) Price Target at $31.73

Shares of CenterPoint Energy, Inc. (NYSE:CNP) have earned an average recommendation of “Buy” from the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.73.

CNP has been the subject of several research analyst reports. KeyCorp initiated coverage on shares of Southern in a report on Tuesday, June 4th. They set a “sector weight” rating for the company. Mizuho downgraded shares of Cypress Semiconductor from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $18.00 to $23.85 in a report on Monday, June 3rd. Credit Suisse Group set a $199.00 price objective on shares of NextEra Energy and gave the company a “buy” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Anglo American in a report on Wednesday, May 15th. Finally, Morgan Stanley set a $18.00 price objective on shares of PG&E and gave the company a “hold” rating in a report on Friday, June 14th.

Shares of CNP stock traded down $0.19 during midday trading on Friday, hitting $28.87. 3,580,101 shares of the company were exchanged, compared to its average volume of 4,014,561. The stock has a market cap of $14.59 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 3.37 and a beta of 0.48. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 2.12. The firm has a 50 day moving average price of $29.12. CenterPoint Energy has a 52 week low of $26.74 and a 52 week high of $31.42.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, May 9th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.06). The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.84 billion. CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. As a group, equities research analysts predict that CenterPoint Energy will post 1.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th were issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio is currently 71.88%.

In other news, insider Milton Carroll sold 19,780 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $29.70, for a total value of $587,466.00. Following the completion of the transaction, the insider now directly owns 98,301 shares in the company, valued at approximately $2,919,539.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $28.40, for a total transaction of $198,800.00. The disclosure for this sale can be found here. Insiders sold a total of 52,780 shares of company stock valued at $1,558,486 in the last three months. Insiders own 0.24% of the company’s stock.

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of CenterPoint Energy by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 7,131,126 shares of the utilities provider’s stock valued at $200,993,000 after buying an additional 550,475 shares in the last quarter. FMR LLC raised its position in shares of CenterPoint Energy by 114.6% in the 4th quarter. FMR LLC now owns 6,472,243 shares of the utilities provider’s stock valued at $182,711,000 after buying an additional 3,456,131 shares in the last quarter. Northern Trust Corp raised its position in shares of CenterPoint Energy by 16.4% in the 4th quarter. Northern Trust Corp now owns 6,338,969 shares of the utilities provider’s stock valued at $178,948,000 after buying an additional 894,568 shares in the last quarter. Norges Bank acquired a new position in CenterPoint Energy during the 4th quarter worth approximately $146,903,000. Finally, Bank of New York Mellon Corp increased its position in CenterPoint Energy by 5.1% during the 4th quarter. Bank of New York Mellon Corp now owns 4,789,650 shares of the utilities provider’s stock worth $135,212,000 after purchasing an additional 230,675 shares in the last quarter. Institutional investors own 78.23% 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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Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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