CenterPoint Energy (NYSE:CNP) Upgraded at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded CenterPoint Energy to “hold,” while analysts remain broadly positive: the stock has a consensus “Moderate Buy” rating and a $45.00 average price target.
• CenterPoint reported quarterly EPS of $0.40, beating estimates of $0.37, on revenue of $2.15 billion versus the $2.12 billion consensus estimate.
• The stock opened at $38.31, near its 52-week low of $37.22, while institutional investors own a substantial 91.77% of outstanding shares.

CenterPoint Energy (NYSE:CNP - Get Free Report) was upgraded by analysts at Royal Bank Of Canada to a "hold" rating in a research note issued to investors on Tuesday, Zacks reports.

Several other equities research analysts have also weighed in on the stock. Wolfe Research reiterated an "outperform" rating and set a $49.00 price objective on shares of CenterPoint Energy in a research note on Wednesday, July 29th. Truist Financial decreased their target price on CenterPoint Energy from $48.00 to $46.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. JPMorgan Chase & Co. upped their target price on CenterPoint Energy from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of CenterPoint Energy in a research report on Friday, September 11th. Finally, Wall Street Zen raised CenterPoint Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.00.

CenterPoint Energy Trading Up 0.9%

NYSE:CNP opened at $38.31 on Tuesday. The company has a market cap of $25.23 billion, a PE ratio of 22.53, a P/E/G ratio of 2.51 and a beta of 0.46. The business's 50 day moving average is $41.06 and its two-hundred day moving average is $42.32. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.95. CenterPoint Energy has a 52 week low of $37.22 and a 52 week high of $45.26.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.12 billion. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%.During the same period in the prior year, the company posted $0.29 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, analysts predict that CenterPoint Energy will post 1.91 EPS for the current year.

Institutional Investors Weigh In On CenterPoint Energy

Several institutional investors have recently bought and sold shares of CNP. Deutsche Bank AG bought a new stake in CenterPoint Energy in the second quarter worth about $770,871,000. Norges Bank bought a new stake in shares of CenterPoint Energy in the 4th quarter worth approximately $343,925,000. Bank of America Corp DE acquired a new stake in CenterPoint Energy during the second quarter valued at approximately $332,753,000. T. Rowe Price Investment Management Inc. boosted its holdings in CenterPoint Energy by 13.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider's stock worth $2,234,712,000 after buying an additional 6,794,535 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in CenterPoint Energy in the second quarter worth approximately $250,273,000. Institutional investors and hedge funds own 91.77% of the company's stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc NYSE: CNP is an energy delivery company headquartered in Houston, Texas. Its primary businesses include electric transmission and distribution and natural gas distribution, with operations focused on delivering energy to residential, commercial and industrial customers rather than producing most of the energy it supplies.

CenterPoint operates electric utility infrastructure in the Houston metropolitan area and in southwestern Indiana. The company also provides natural gas distribution services in Indiana, Louisiana, Mississippi and Ohio.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.