CenterPoint Energy, Inc. (NYSE:CNP) Stock Has Consensus Price Target of $44.29

Key Points

• Analyst sentiment is moderately positive: Ten of 17 analysts rate CenterPoint Energy a buy, while seven recommend holding; the average 12-month price target is $44.29.
• CenterPoint reported quarterly EPS of $0.53, beating the $0.50 consensus, and revenue of $2.19 billion, above expectations of $2.17 billion.
• The company declared a quarterly dividend of $0.24 per share, equivalent to $0.96 annually and a 2.4% yield.

CenterPoint Energy, Inc. (NYSE:CNP - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $44.29.

CNP has been the subject of a number of analyst reports. Wall Street Zen raised CenterPoint Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. JPMorgan Chase & Co. dropped their price objective on shares of CenterPoint Energy from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 13th. HSBC assumed coverage on shares of CenterPoint Energy in a research note on Thursday, October 22nd. They set a "buy" rating and a $44.00 price objective on the stock. Citigroup cut their target price on shares of CenterPoint Energy from $47.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, October 8th. Finally, Morgan Stanley boosted their target price on shares of CenterPoint Energy from $38.00 to $39.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 21st.

CenterPoint Energy Price Performance

Shares of CNP opened at $40.66 on Friday. The business's 50-day moving average is $39.37 and its two-hundred day moving average is $41.59. The company has a market capitalization of $26.95 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.69 and a beta of 0.43. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.97 and a current ratio of 1.15. CenterPoint Energy has a fifty-two week low of $36.37 and a fifty-two week high of $45.26.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.03. CenterPoint Energy had a return on equity of 11.16% and a net margin of 11.76%. The business had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. Research analysts predict that CenterPoint Energy will post 1.91 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. CenterPoint Energy's payout ratio is presently 54.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNP. Keating Financial Advisory Services Inc. acquired a new stake in shares of CenterPoint Energy during the 2nd quarter valued at about $27,000. Silver Grove Financial Group Inc. increased its stake in shares of CenterPoint Energy by 1,325.4% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 955 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 888 shares in the last quarter. MidFirst Bank purchased a new position in shares of CenterPoint Energy in the 2nd quarter valued at about $38,000. Transamerica Financial Advisors LLC acquired a new position in CenterPoint Energy in the 2nd quarter worth about $40,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in CenterPoint Energy in the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 91.77% of the company's stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc is a regulated energy delivery company based in Houston, Texas. Its main businesses are electric transmission and distribution and natural gas distribution, connecting customers to energy and maintaining the infrastructure that delivers it.

The company's electric utility operations serve the Houston area, while its natural gas utilities serve customers in Texas, Indiana, Minnesota and Ohio. CenterPoint Energy's services include operating and maintaining power lines, gas distribution systems and related utility infrastructure.

The company adopted the CenterPoint Energy name in 2002 following a restructuring of Reliant Energy.

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