CenterPoint Energy (NYSE:CNP) Reaches New 12-Month High - Here's What Happened

Key Points

• CenterPoint Energy shares reached a new 52-week high of $39.34, closing at $39.24 with a trading volume of 349,013 shares.
• Several analysts have revised their price targets for the stock, with estimates ranging from $34.00 to $41.00, while the consensus rating is currently a "Hold".
• The company reported a quarterly earnings miss, with $0.29 earnings per share against an expectation of $0.44, and it is set to distribute a quarterly dividend of $0.22 per share.

CenterPoint Energy, Inc. (NYSE:CNP - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $39.34 and last traded at $39.24, with a volume of 349013 shares changing hands. The stock had previously closed at $38.81.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Morgan Stanley reduced their price target on CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating for the company in a report on Thursday, May 22nd. Evercore ISI lifted their price objective on CenterPoint Energy from $37.00 to $41.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. BMO Capital Markets raised their target price on CenterPoint Energy from $36.00 to $39.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Finally, Mizuho set a $39.00 price objective on CenterPoint Energy and gave the company a "neutral" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $37.38.

CenterPoint Energy Stock Up 0.9%

The firm has a market capitalization of $25.57 billion, a PE ratio of 27.38, a PEG ratio of 2.84 and a beta of 0.58. The company has a fifty day simple moving average of $36.74 and a two-hundred day simple moving average of $35.85. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The utilities provider reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.15). CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the company earned $0.36 earnings per share. Analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. CenterPoint Energy's dividend payout ratio is currently 61.54%.

Institutional Trading of CenterPoint Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CNP. Strs Ohio acquired a new stake in CenterPoint Energy in the second quarter valued at approximately $2,900,000. Amalgamated Bank grew its holdings in CenterPoint Energy by 0.8% in the second quarter. Amalgamated Bank now owns 128,239 shares of the utilities provider's stock valued at $4,712,000 after purchasing an additional 1,032 shares during the period. Assetmark Inc. grew its holdings in CenterPoint Energy by 407.0% in the second quarter. Assetmark Inc. now owns 2,692 shares of the utilities provider's stock valued at $99,000 after purchasing an additional 2,161 shares during the period. World Investment Advisors acquired a new stake in CenterPoint Energy in the second quarter valued at approximately $222,000. Finally, Jennison Associates LLC grew its holdings in CenterPoint Energy by 31.6% in the second quarter. Jennison Associates LLC now owns 7,859,693 shares of the utilities provider's stock valued at $288,765,000 after purchasing an additional 1,886,374 shares during the period. 91.77% 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 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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