Wells Fargo & Co Trims CenterPoint Energy (NYSE:CNP) Target Price to $32.00

CenterPoint Energy (NYSE:CNP) had its target price trimmed by Wells Fargo & Co from $33.00 to $32.00 in a research report released on Wednesday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the utilities provider’s stock.

A number of other research analysts also recently commented on the company. Mizuho began coverage on CenterPoint Energy in a research note on Monday, June 3rd. They set a buy rating and a $31.00 price objective for the company. SunTrust Banks raised CenterPoint Energy from a hold rating to a buy rating and increased their price target for the stock from $30.00 to $32.00 in a research note on Friday, September 6th. KeyCorp began coverage on CenterPoint Energy in a research note on Tuesday, June 4th. They issued a sector weight rating for the company. Morgan Stanley increased their price target on CenterPoint Energy from $30.00 to $31.00 and gave the stock an equal weight rating in a research note on Friday, June 14th. Finally, Stifel Nicolaus raised CenterPoint Energy from a hold rating to a buy rating and increased their price target for the stock from $30.00 to $32.00 in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $32.02.

Shares of CNP opened at $30.33 on Wednesday. The company has a market cap of $15.09 billion, a P/E ratio of 19.26, a PEG ratio of 3.32 and a beta of 0.47. The stock has a fifty day moving average price of $28.42 and a 200 day moving average price of $29.42. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.11 and a quick ratio of 0.95. CenterPoint Energy has a 12 month low of $26.74 and a 12 month high of $31.42.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.79 billion. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The firm’s revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. As a group, research analysts anticipate that CenterPoint Energy will post 1.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th were paid a $0.2875 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.15 annualized dividend and a dividend yield of 3.79%. CenterPoint Energy’s payout ratio is 71.88%.

In other news, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.84, for a total value of $194,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 21,000 shares of company stock valued at $596,890. Company insiders own 0.24% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its stake in CenterPoint Energy by 21.6% during the first quarter. US Bancorp DE now owns 86,928 shares of the utilities provider’s stock valued at $2,670,000 after buying an additional 15,417 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake 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 buying an additional 931,444 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in CenterPoint Energy by 3.7% during the second quarter. Crossmark Global Holdings Inc. now owns 45,561 shares of the utilities provider’s stock valued at $1,304,000 after buying an additional 1,641 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in CenterPoint Energy by 13.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 52,569 shares of the utilities provider’s stock valued at $1,614,000 after buying an additional 6,107 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in CenterPoint Energy during the second quarter valued at about $1,029,000. 80.21% of the stock is owned by institutional investors and hedge funds.

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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