CenterPoint Energy (NYSE:CNP - Free Report) had its price target lifted by JPMorgan Chase & Co. from $39.00 to $40.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the utilities provider's stock.
Several other brokerages have also recently weighed in on CNP. Barclays upgraded shares of CenterPoint Energy from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $30.00 to $37.00 in a research note on Tuesday, April 22nd. Scotiabank reiterated an "outperform" rating and issued a $40.00 price target (up from $35.00) on shares of CenterPoint Energy in a research note on Friday, April 25th. Argus raised CenterPoint Energy to a "hold" rating in a research report on Friday, April 4th. Jefferies Financial Group initiated coverage on CenterPoint Energy in a report on Wednesday, April 2nd. They issued a "buy" rating and a $42.00 price objective for the company. Finally, Evercore ISI upped their target price on CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, CenterPoint Energy presently has a consensus rating of "Hold" and a consensus price target of $36.13.
Get Our Latest Research Report on CenterPoint Energy
CenterPoint Energy Stock Performance
CNP stock traded up $0.45 during mid-day trading on Tuesday, hitting $36.54. 3,399,354 shares of the company were exchanged, compared to its average volume of 5,531,148. CenterPoint Energy has a 1-year low of $25.41 and a 1-year high of $39.31. The stock has a market capitalization of $23.85 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.64 and a beta of 0.57. The business has a 50 day simple moving average of $36.58 and a 200-day simple moving average of $35.31. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 1.86.
CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.73 billion. CenterPoint Energy had a net margin of 10.80% and a return on equity of 9.74%. During the same quarter last year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that CenterPoint Energy will post 1.75 earnings per share for the current year.
CenterPoint Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.41%. CenterPoint Energy's payout ratio is 59.06%.
Institutional Investors Weigh In On CenterPoint Energy
A number of hedge funds have recently made changes to their positions in CNP. Curat Global LLC bought a new position in CenterPoint Energy in the 1st quarter valued at approximately $25,000. N.E.W. Advisory Services LLC bought a new position in shares of CenterPoint Energy in the 1st quarter valued at $25,000. ST Germain D J Co. Inc. bought a new position in shares of CenterPoint Energy in the 2nd quarter valued at $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of CenterPoint Energy during the 1st quarter valued at $27,000. Finally, VSM Wealth Advisory LLC bought a new stake in CenterPoint Energy during the 4th quarter worth $32,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.
About CenterPoint Energy
(
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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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