CenterPoint Energy (NYSE:CNP) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $31.00 price objective on the utilities provider’s stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 7.27% from the company’s current price.
A number of other research firms have also issued reports on CNP. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Monday, June 25th. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Thursday, June 28th. Bank of America raised CenterPoint Energy from an “underperform” rating to a “neutral” rating in a report on Thursday, June 28th. Credit Suisse Group raised CenterPoint Energy from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $27.00 to $30.00 in a report on Wednesday, May 9th. Finally, SunTrust Banks reissued a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a report on Monday, August 6th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CenterPoint Energy presently has a consensus rating of “Hold” and a consensus target price of $28.88.
Shares of CNP stock opened at $28.90 on Wednesday. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 3.18 and a beta of 0.45. CenterPoint Energy has a 1 year low of $24.81 and a 1 year high of $30.45. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Friday, August 3rd. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. analysts predict that CenterPoint Energy will post 1.61 earnings per share for the current year.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of CenterPoint Energy stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $27.99, for a total value of $111,960.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Milton Carroll sold 10,000 shares of CenterPoint Energy stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total value of $282,700.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,000 shares of company stock worth $504,940. Corporate insiders own 0.22% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bridgewater Associates LP boosted its holdings in CenterPoint Energy by 54.6% in the 2nd quarter. Bridgewater Associates LP now owns 256,768 shares of the utilities provider’s stock valued at $7,115,000 after purchasing an additional 90,653 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of CenterPoint Energy during the 2nd quarter valued at approximately $1,727,000. Conning Inc. lifted its position in shares of CenterPoint Energy by 54.1% during the 2nd quarter. Conning Inc. now owns 16,365 shares of the utilities provider’s stock valued at $453,000 after acquiring an additional 5,743 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of CenterPoint Energy by 39.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,795,150 shares of the utilities provider’s stock valued at $77,453,000 after acquiring an additional 791,903 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of CenterPoint Energy during the 2nd quarter valued at approximately $404,000. 77.29% of the stock is currently owned by institutional investors.
CenterPoint Energy Company Profile
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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