CenterPoint Energy (NYSE:CNP) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• CenterPoint Energy saw its target price raised from $39.00 to $40.00 by Barclays, indicating a potential upside of 1.39% from the previous close.
• Multiple brokerages, including BMO Capital Markets and Mizuho, have also adjusted their target prices upwards, with BMO raising it to $41.00.
• The company reported earnings per share of $0.29 for the last quarter, missing analyst expectations, with plans for FY 2025 guidance set at 1.740-1.760 EPS.

CenterPoint Energy (NYSE:CNP - Get Free Report) had its target price raised by equities research analysts at Barclays from $39.00 to $40.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Barclays's target price points to a potential upside of 1.39% from the stock's previous close.

A number of other brokerages have also commented on CNP. Weiss Ratings reissued a "buy (b-)" rating on shares of CenterPoint Energy in a research report on Saturday, September 27th. BMO Capital Markets lifted their price target on shares of CenterPoint Energy from $39.00 to $41.00 and gave the company a "market perform" rating in a research note on Thursday, October 2nd. Morgan Stanley reduced their price objective on shares of CenterPoint Energy from $38.00 to $37.00 and set an "equal weight" rating for the company in a research note on Thursday, September 25th. Mizuho boosted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 30th. Finally, Evercore ISI initiated coverage on CenterPoint Energy in a report on Monday. They issued an "in-line" rating and a $42.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, CenterPoint Energy has an average rating of "Hold" and an average target price of $38.86.

CenterPoint Energy Stock Performance

CNP opened at $39.45 on Tuesday. The company has a market capitalization of $25.76 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 2.74 and a beta of 0.57. The business's 50-day moving average price is $38.26 and its two-hundred day moving average price is $37.34. CenterPoint Energy has a 1 year low of $28.57 and a 1 year high of $40.50. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same quarter in the previous year, the business posted $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Equities analysts expect that CenterPoint Energy will post 1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On CenterPoint Energy

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its stake in CenterPoint Energy by 8.6% during the first quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider's stock worth $2,907,000 after purchasing an additional 6,377 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of CenterPoint Energy by 8.8% during the 1st quarter. QRG Capital Management Inc. now owns 19,913 shares of the utilities provider's stock valued at $721,000 after purchasing an additional 1,615 shares during the last quarter. Principal Financial Group Inc. boosted its position in CenterPoint Energy by 3.1% in the first quarter. Principal Financial Group Inc. now owns 864,175 shares of the utilities provider's stock valued at $31,309,000 after buying an additional 26,153 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of CenterPoint Energy by 5.6% during the first quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider's stock worth $6,041,000 after buying an additional 8,914 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of CenterPoint Energy by 472.8% during the first quarter. Golden State Wealth Management LLC now owns 1,220 shares of the utilities provider's stock worth $44,000 after buying an additional 1,007 shares in the last quarter. Institutional investors own 91.77% of the company's stock.

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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