Shares of CenterPoint Energy, Inc. (NYSE:CNP) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $28.75.
CNP has been the topic of several research analyst reports. Bank of America Corporation initiated coverage on shares of CenterPoint Energy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $30.00 target price on the stock. BidaskClub upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. J P Morgan Chase & Co set a $30.00 price objective on shares of CenterPoint Energy and gave the stock a “hold” rating in a report on Thursday, October 12th. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a report on Monday, October 2nd.
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Hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new stake in shares of CenterPoint Energy in the second quarter valued at about $678,000. Shell Asset Management Co. raised its holdings in shares of CenterPoint Energy by 196.2% in the third quarter. Shell Asset Management Co. now owns 61,861 shares of the utilities provider’s stock valued at $1,514,000 after purchasing an additional 40,976 shares during the last quarter. Federated Investors Inc. PA raised its holdings in shares of CenterPoint Energy by 160.1% in the second quarter. Federated Investors Inc. PA now owns 84,599 shares of the utilities provider’s stock valued at $2,316,000 after purchasing an additional 52,078 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of CenterPoint Energy in the second quarter valued at about $5,476,000. Finally, Toronto Dominion Bank raised its holdings in shares of CenterPoint Energy by 25.6% in the second quarter. Toronto Dominion Bank now owns 145,724 shares of the utilities provider’s stock valued at $3,989,000 after purchasing an additional 29,740 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.
Shares of CenterPoint Energy (NYSE:CNP) traded down $0.03 during midday trading on Monday, reaching $29.00. 2,775,142 shares of the company traded hands, compared to its average volume of 2,840,485. The company has a market capitalization of $12,510.00, a price-to-earnings ratio of 22.86, a PEG ratio of 4.14 and a beta of 0.64. CenterPoint Energy has a fifty-two week low of $23.24 and a fifty-two week high of $30.45. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.91.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.07 billion. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. CenterPoint Energy’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. equities analysts anticipate that CenterPoint Energy will post 1.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 16th will be issued a dividend of $0.2675 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.07 annualized dividend and a yield of 3.69%. CenterPoint Energy’s payout ratio is 77.54%.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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