CenterPoint Energy (NYSE:CNP – Get Rating) had its price objective increased by analysts at Morgan Stanley from $29.00 to $31.00 in a research note issued on Thursday, Stock Target Advisor reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 4.38% from the company’s current price.
CNP has been the subject of several other research reports. Barclays cut their price target on CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Credit Suisse Group initiated coverage on CenterPoint Energy in a report on Monday, April 25th. They issued an “outperform” rating and a $34.00 target price for the company. Wells Fargo & Company boosted their price objective on CenterPoint Energy from $31.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, April 19th. KeyCorp decreased their target price on CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Mizuho boosted their price target on CenterPoint Energy from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 6th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.25.
CenterPoint Energy Trading Up 1.3 %
Shares of NYSE:CNP opened at $29.70 on Thursday. The stock’s 50-day simple moving average is $29.94 and its two-hundred day simple moving average is $29.46. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.80 and a current ratio of 0.91. CenterPoint Energy has a 52-week low of $24.33 and a 52-week high of $33.00. The stock has a market capitalization of $18.69 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 5.47 and a beta of 0.87.
CenterPoint Energy (NYSE:CNP – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.55 billion. CenterPoint Energy had a return on equity of 12.10% and a net margin of 19.30%. During the same period last year, the business earned $0.59 EPS. Analysts expect that CenterPoint Energy will post 1.38 EPS for the current year.
Hedge Funds Weigh In On CenterPoint Energy
A number of hedge funds have recently made changes to their positions in CNP. JNBA Financial Advisors raised its holdings in shares of CenterPoint Energy by 335.5% during the fourth quarter. JNBA Financial Advisors now owns 958 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 738 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of CenterPoint Energy in the second quarter valued at approximately $27,000. Covestor Ltd increased its holdings in shares of CenterPoint Energy by 176.7% in the first quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 569 shares during the last quarter. PYA Waltman Capital LLC acquired a new stake in shares of CenterPoint Energy in the fourth quarter valued at approximately $28,000. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of CenterPoint Energy in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 90.98% of the company’s stock.
About CenterPoint Energy
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.
Featured Stories
Receive News & Ratings for CenterPoint Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for CenterPoint Energy and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
