CenterPoint Energy (NYSE:CNP) Price Target Raised to $42.00

Key Points

• CenterPoint Energy (NYSE:CNP) has had its price target raised from $40.00 to $42.00 by Scotiabank, indicating a potential upside of 9.71% from its current price.
• The company currently holds a consensus rating of "Hold" among analysts, with a consensus price target of $37.21, and has received a mix of ratings from several other institutions.
• In its latest earnings report, CenterPoint Energy reported $0.29 EPS, missing the consensus estimate of $0.44 by $0.15, with total revenue of $1.94 billion compared to an expected $2.20 billion.
• Institutional investors own approximately 91.77% of CenterPoint Energy's stock, reflecting strong institutional interest in the company.

CenterPoint Energy (NYSE:CNP - Get Free Report) had its price target raised by stock analysts at Scotiabank from $40.00 to $42.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the utilities provider's stock. Scotiabank's price objective would indicate a potential upside of 9.71% from the stock's current price.

CNP has been the subject of several other reports. Barclays raised CenterPoint Energy from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $30.00 to $37.00 in a research note on Tuesday, April 22nd. Argus raised CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. Mizuho raised their price target on CenterPoint Energy from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday. Morgan Stanley cut their price target on CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. increased their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of "Hold" and a consensus price target of $37.21.

CenterPoint Energy Stock Performance

NYSE CNP traded up $0.44 during trading hours on Friday, hitting $38.28. The company had a trading volume of 2,485,985 shares, compared to its average volume of 5,255,916. CenterPoint Energy has a fifty-two week low of $25.41 and a fifty-two week high of $39.31. The firm has a market cap of $24.99 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 2.72 and a beta of 0.57. The business has a fifty day simple moving average of $36.64 and a 200-day simple moving average of $35.52. 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 released its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.15). CenterPoint Energy had a return on equity of 9.74% and a net margin of 10.80%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the company posted $0.36 EPS. Equities analysts predict that CenterPoint Energy will post 1.75 EPS for the current year.

Institutional Trading of CenterPoint Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Board of the Pension Protection Fund bought a new stake in CenterPoint Energy during the second quarter worth about $937,000. Vanguard Personalized Indexing Management LLC raised its holdings in CenterPoint Energy by 24.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 57,765 shares of the utilities provider's stock worth $2,122,000 after acquiring an additional 11,521 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in CenterPoint Energy by 8.4% during the second quarter. Concurrent Investment Advisors LLC now owns 12,456 shares of the utilities provider's stock worth $458,000 after acquiring an additional 964 shares in the last quarter. Inspire Investing LLC raised its holdings in CenterPoint Energy by 4.2% during the second quarter. Inspire Investing LLC now owns 73,475 shares of the utilities provider's stock worth $2,699,000 after acquiring an additional 2,992 shares in the last quarter. Finally, Aberdeen Group plc raised its holdings in CenterPoint Energy by 2.2% during the second quarter. Aberdeen Group plc now owns 1,528,343 shares of the utilities provider's stock worth $56,151,000 after acquiring an additional 33,606 shares in the last quarter. Institutional investors own 91.77% 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 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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