CenterPoint Energy (NYSE:CNP) Price Target Raised to $39.00

Key Points

• Mizuho raised its price target for CenterPoint Energy from $38.00 to $39.00, indicating a potential upside of 1.68% based on the stock's previous close.
• CenterPoint Energy's stock recently traded at $38.36, reflecting an increase of 1.4% in trading volume.
• The company reported a net loss of $0.15 per share against analysts' expectations, with revenue of $1.94 billion during the last quarter, below estimates.
• Institutional investors hold 91.77% of CenterPoint Energy's stock, with significant recent increases in holdings from various investment firms.

CenterPoint Energy (NYSE:CNP - Get Free Report) had its price objective lifted by stock analysts at Mizuho from $38.00 to $39.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the utilities provider's stock. Mizuho's price target would indicate a potential upside of 1.68% from the stock's previous close.

CNP has been the topic of a number of other reports. Evercore ISI upped their target price on CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Jefferies Financial Group began coverage on CenterPoint Energy in a research note on Wednesday, April 2nd. They set a "buy" rating and a $42.00 price objective on the stock. BMO Capital Markets raised their price objective on CenterPoint Energy from $36.00 to $39.00 and gave the stock a "market perform" rating in a research note on Tuesday. Barclays upgraded CenterPoint Energy from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $30.00 to $37.00 in a research note on Tuesday, April 22nd. Finally, Wall Street Zen cut CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.04.

CenterPoint Energy Stock Up 1.4%

Shares of CNP traded up $0.52 during trading on Friday, reaching $38.36. The company's stock had a trading volume of 2,059,257 shares, compared to its average volume of 5,253,613. The company has a fifty day moving average of $36.64 and a two-hundred day moving average of $35.52. CenterPoint Energy has a twelve month low of $25.41 and a twelve month high of $39.31. The company has a market cap of $25.04 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 2.72 and a beta of 0.57. The company has a quick ratio of 0.79, a current ratio of 0.93 and a debt-to-equity ratio of 1.86.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.15). CenterPoint Energy had a net margin of 10.80% and a return on equity of 9.74%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company earned $0.36 earnings per share. On average, sell-side analysts predict that CenterPoint Energy will post 1.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Brighton Jones LLC acquired a new position in CenterPoint Energy during the fourth quarter worth about $254,000. Sei Investments Co. grew its holdings in CenterPoint Energy by 3.5% during the fourth quarter. Sei Investments Co. now owns 363,849 shares of the utilities provider's stock worth $11,545,000 after acquiring an additional 12,401 shares during the period. LPL Financial LLC grew its holdings in CenterPoint Energy by 5.5% during the fourth quarter. LPL Financial LLC now owns 157,052 shares of the utilities provider's stock worth $4,983,000 after acquiring an additional 8,134 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in CenterPoint Energy by 8.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,305 shares of the utilities provider's stock worth $327,000 after acquiring an additional 839 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of CenterPoint Energy by 4.6% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 571,897 shares of the utilities provider's stock valued at $18,146,000 after purchasing an additional 25,039 shares during the period. 91.77% of the stock is owned by institutional investors and hedge funds.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.

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