Houston Lighting & Power (CNP) PT Lowered to $28.00

Houston Lighting & Power (NYSE:CNP) had its price objective decreased by research analysts at JPMorgan Chase from $29.00 to $28.00 in a note issued to investors on Tuesday. The brokerage currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase’s price target would suggest a potential upside of 12.36% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Houston Lighting & Power from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Friday, February 2nd. SunTrust Banks set a $27.00 target price on shares of Houston Lighting & Power and gave the company a “hold” rating in a report on Monday, March 19th. Bank of America cut shares of Houston Lighting & Power from a “neutral” rating to an “underperform” rating in a report on Thursday, March 22nd. Finally, Citigroup reduced their target price on shares of Houston Lighting & Power from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, March 27th. Eight investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Shares of CNP opened at $24.92 on Tuesday. The stock has a market cap of $10,931.38, a PE ratio of 18.38, a price-to-earnings-growth ratio of 3.30 and a beta of 0.49. Houston Lighting & Power 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 1.75, a quick ratio of 0.98 and a current ratio of 1.11.

Houston Lighting & Power (NYSE:CNP) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Houston Lighting & Power had a net margin of 18.64% and a return on equity of 15.51%. The business’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. analysts predict that Houston Lighting & Power will post 1.54 EPS for the current year.

In other Houston Lighting & Power news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $27.91, for a total value of $27,910.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $27.13, for a total transaction of $108,520.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,363 shares of company stock worth $1,342,894. 0.22% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in CNP. NuWave Investment Management LLC purchased a new position in Houston Lighting & Power in the fourth quarter valued at approximately $132,000. SeaCrest Wealth Management LLC purchased a new position in Houston Lighting & Power in the fourth quarter valued at approximately $135,000. Welch Group LLC purchased a new position in Houston Lighting & Power in the fourth quarter valued at approximately $148,000. Premia Global Advisors LLC purchased a new position in Houston Lighting & Power in the fourth quarter valued at approximately $188,000. Finally, HBK Investments L P purchased a new position in Houston Lighting & Power in the fourth quarter valued at approximately $227,000. Institutional investors own 77.11% of the company’s stock.

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About Houston Lighting & Power

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.

Analyst Recommendations for Houston Lighting & Power (NYSE:CNP)

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