Morgan Stanley Trims CenterPoint Energy (NYSE:CNP) Target Price to $29.00 – MarketBeat

Written by Amanda

CenterPoint Energy (NYSE:CNPGet Rating) had its price objective decreased by Morgan Stanley from $33.00 to $29.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 3.35% from the company’s current price.

Several other research analysts also recently commented on CNP. Barclays boosted their target price on CenterPoint Energy from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, March 31st. KeyCorp increased their price objective on shares of CenterPoint Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Mizuho raised their target price on shares of CenterPoint Energy from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 6th. Credit Suisse Group started coverage on shares of CenterPoint Energy in a research report on Monday, April 25th. They set an “outperform” rating and a $34.00 price target on the stock. Finally, Wells Fargo & Company lifted their target price on shares of CenterPoint Energy from $31.00 to $36.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 19th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.


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Shares of CNP stock traded up $0.26 during mid-day trading on Thursday, reaching $28.06. The company’s stock had a trading volume of 32,004 shares, compared to its average volume of 4,603,795. CenterPoint Energy has a 12-month low of $24.23 and a 12-month high of $33.00. The company’s 50 day simple moving average is $30.79 and its 200-day simple moving average is $29.19. The company has a quick ratio of 0.80, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $17.66 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 5.18 and a beta of 0.87.

CenterPoint Energy (NYSE:CNPGet Rating) last released its earnings results on Tuesday, May 3rd. The utilities provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). CenterPoint Energy had a return on equity of 12.10% and a net margin of 19.30%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, research analysts anticipate that CenterPoint Energy will post 1.38 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. JNBA Financial Advisors increased its stake in shares of CenterPoint Energy by 335.5% in the fourth quarter. JNBA Financial Advisors now owns 958 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 738 shares during the period. Covestor Ltd increased its position in shares of CenterPoint Energy by 176.7% in the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock valued at $27,000 after buying an additional 569 shares in the last quarter. PYA Waltman Capital LLC acquired a new position in CenterPoint Energy in the 4th quarter worth $28,000. GHP Investment Advisors Inc. acquired a new position in shares of CenterPoint Energy during the 1st quarter worth about $28,000. Finally, First Command Bank lifted its stake in CenterPoint Energy by 1,427.8% in the 3rd quarter. First Command Bank now owns 1,375 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 1,285 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

CenterPoint Energy Company Profile (Get Rating)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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