CenterPoint Energy, Inc. (CNP) Given Consensus Recommendation of “Hold” by Brokerages

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.

WARNING: “CenterPoint Energy, Inc. (CNP) Given Consensus Recommendation of “Hold” by Brokerages” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://sportsperspectives.com/2017/11/18/centerpoint-energy-inc-cnp-given-consensus-recommendation-of-hold-by-brokerages.html.

In other news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 3,000 shares of company stock valued at $88,300. 0.20% of the stock is currently owned by corporate insiders.

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.

Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

Receive News & Ratings for CenterPoint Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply