KeyCorp Issues Pessimistic Forecast for CenterPoint Energy (NYSE:CNP) Stock Price

Key Points

• KeyCorp lowered its price target on CenterPoint Energy from $47 to $46 while keeping an overweight rating, implying modest upside from the current share price.
• Analyst sentiment on CNP remains mixed: the stock has a consensus Hold rating with an average target price of $45.38, based on a split of buy, hold, and sell recommendations.
• CenterPoint Energy recently reported Q1 earnings of $0.56 per share, missing estimates by $0.02, even as revenue came in well above expectations at $2.98 billion.

CenterPoint Energy (NYSE:CNP - Get Free Report) had its target price lowered by equities research analysts at KeyCorp from $47.00 to $46.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. KeyCorp's price objective indicates a potential upside of 5.23% from the stock's current price.

Several other research analysts have also recently weighed in on CNP. Morgan Stanley set a $40.00 price objective on shares of CenterPoint Energy in a research report on Wednesday. Weiss Ratings reiterated a "buy (b)" rating on shares of CenterPoint Energy in a report on Monday, June 15th. Evercore set a $45.00 price objective on CenterPoint Energy in a report on Monday, May 4th. Truist Financial lowered their price target on shares of CenterPoint Energy from $48.00 to $47.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CenterPoint Energy from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, CenterPoint Energy has a consensus rating of "Hold" and an average target price of $45.38.

CenterPoint Energy Trading Up 2.3%

Shares of CNP stock opened at $43.71 on Thursday. CenterPoint Energy has a 12-month low of $36.59 and a 12-month high of $45.22. The company has a market capitalization of $28.60 billion, a P/E ratio of 26.82, a P/E/G ratio of 2.53 and a beta of 0.46. The firm has a 50-day moving average price of $43.06 and a 200 day moving average price of $42.24. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 1.96.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.02). CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the company posted $0.53 earnings per share. Research analysts forecast that CenterPoint Energy will post 1.91 earnings per share for the current fiscal year.

Institutional Trading of CenterPoint Energy

Hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC acquired a new position in CenterPoint Energy during the fourth quarter worth $254,000. AQR Capital Management LLC raised its position in shares of CenterPoint Energy by 15.6% in the first quarter. AQR Capital Management LLC now owns 76,100 shares of the utilities provider's stock valued at $2,757,000 after purchasing an additional 10,277 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CenterPoint Energy by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,683 shares of the utilities provider's stock worth $2,525,000 after buying an additional 3,821 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of CenterPoint Energy by 11.5% during the 1st quarter. Empowered Funds LLC now owns 13,411 shares of the utilities provider's stock worth $486,000 after buying an additional 1,384 shares during the period. Finally, Woodline Partners LP grew its stake in CenterPoint Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 55,061 shares of the utilities provider's stock valued at $1,995,000 after buying an additional 15,922 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc NYSE: CNP is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company's principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint's core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.

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