CenterPoint Energy (NYSE:CNP) had its price objective lifted by equities research analysts at Morgan Stanley from $30.00 to $31.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential upside of 5.95% from the stock’s current price.
A number of other research analysts have also issued reports on the company. Bank of America raised CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 target price on the stock in a report on Thursday. They noted that the move was a valuation call. KeyCorp assumed coverage on CenterPoint Energy in a research report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Mizuho assumed coverage on CenterPoint Energy in a research report on Monday, June 3rd. They issued a “buy” rating and a $31.00 price target for the company. JPMorgan Chase & Co. decreased their price target on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th. Finally, Credit Suisse Group set a $33.00 price target on CenterPoint Energy and gave the company a “buy” rating in a research report on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $31.86.
NYSE:CNP opened at $29.26 on Friday. The stock has a market cap of $14.55 billion, a P/E ratio of 18.29, a PEG ratio of 3.24 and a beta of 0.51. CenterPoint Energy has a 52-week low of $25.65 and a 52-week high of $31.42. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 2.12.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Thursday, May 9th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.06). The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.84 billion. CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. CenterPoint Energy’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. Sell-side analysts anticipate that CenterPoint Energy will post 1.64 earnings per share for the current fiscal year.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $28.40, for a total transaction of $198,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Milton Carroll sold 19,780 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $29.70, for a total value of $587,466.00. Following the sale, the insider now owns 98,301 shares of the company’s stock, valued at $2,919,539.70. The disclosure for this sale can be found here. Insiders sold a total of 52,780 shares of company stock valued at $1,573,746 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE boosted its position in CenterPoint Energy by 21.6% during the 1st quarter. US Bancorp DE now owns 86,928 shares of the utilities provider’s stock worth $2,670,000 after acquiring an additional 15,417 shares during the period. Legal & General Group Plc boosted its position in CenterPoint Energy by 16.5% during the 4th quarter. Legal & General Group Plc now owns 3,962,991 shares of the utilities provider’s stock worth $111,840,000 after acquiring an additional 559,932 shares during the period. Oregon Public Employees Retirement Fund boosted its position in CenterPoint Energy by 13.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 52,569 shares of the utilities provider’s stock worth $1,614,000 after acquiring an additional 6,107 shares during the period. Twin Capital Management Inc. boosted its position in CenterPoint Energy by 1.9% during the 1st quarter. Twin Capital Management Inc. now owns 137,830 shares of the utilities provider’s stock worth $4,231,000 after acquiring an additional 2,630 shares during the period. Finally, Martin Capital Partners LLC acquired a new stake in CenterPoint Energy during the 1st quarter worth about $209,000. Hedge funds and other institutional investors own 78.35% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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