CenterPoint Energy (NYSE:CNP) Stock Rating Upgraded by Evercore ISI

Key Points

• Evercore ISI upgraded CenterPoint Energy to a "hold" rating, reflecting a shift in analyst sentiment towards the stock.
• JPMorgan Chase & Co. increased their price target for CenterPoint Energy from $39.00 to $40.00, while BMO Capital Markets raised it to $41.00.
• In their latest earnings report, CenterPoint Energy missed earnings estimates with $0.29 per share, significantly lower than the expected $0.44.

CenterPoint Energy (NYSE:CNP - Get Free Report) was upgraded by Evercore ISI to a "hold" rating in a report released on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Wall Street Zen downgraded CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. BMO Capital Markets lifted their price target on CenterPoint Energy from $39.00 to $41.00 and gave the stock a "market perform" rating in a report on Thursday, October 2nd. Morgan Stanley cut their price target on 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. Finally, Scotiabank upped their target price on CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 25th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $38.86.

CenterPoint Energy Stock Performance

CNP opened at $39.40 on Monday. The stock has a 50-day moving average of $38.28 and a 200-day moving average of $37.35. CenterPoint Energy has a 52-week low of $28.57 and a 52-week high of $40.50. The company has a market cap of $25.72 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 2.78 and a beta of 0.57. 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 released its quarterly earnings results 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). The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. During the same period in the prior year, the business earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, equities research analysts forecast that CenterPoint Energy will post 1.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CenterPoint Energy

Several hedge funds have recently modified their holdings of CNP. N.E.W. Advisory Services LLC bought a new stake in shares of CenterPoint Energy in the 1st quarter worth approximately $25,000. ST Germain D J Co. Inc. purchased a new position in CenterPoint Energy in the 2nd quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of CenterPoint Energy during the 1st quarter valued at $27,000. Chung Wu Investment Group LLC purchased a new position in shares of CenterPoint Energy during the 2nd quarter valued at $29,000. Finally, Ameritas Advisory Services LLC purchased a new position in CenterPoint Energy in the second quarter worth $33,000. 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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