Analysts Set CenterPoint Energy Inc. (CNP) Target Price at $23.02
CenterPoint Energy Inc. (NYSE:CNP) has been assigned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.02.
CNP has been the subject of several recent research reports. SunTrust Banks Inc. increased their price objective on CenterPoint Energy from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, September 26th. Evercore ISI started coverage on CenterPoint Energy in a research note on Monday, September 12th. They issued a “hold” rating for the company. Deutsche Bank AG cut their target price on CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating for the company in a research note on Monday, August 8th. Guggenheim started coverage on CenterPoint Energy in a research note on Thursday, November 3rd. They issued a “buy” rating and a $25.00 target price for the company. Finally, Credit Suisse Group AG downgraded CenterPoint Energy from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $24.00 to $25.00 in a research note on Tuesday, November 8th. They noted that the move was a valuation call.
CenterPoint Energy (NYSE:CNP) opened at 24.09 on Friday. The firm’s 50-day moving average is $22.89 and its 200 day moving average is $23.06. CenterPoint Energy has a 52-week low of $16.05 and a 52-week high of $24.71. The firm’s market capitalization is $10.38 billion.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, November 4th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.04. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. The firm earned $1.89 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the company earned $0.34 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. Equities analysts anticipate that CenterPoint Energy will post $1.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 16th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Monday, November 14th. CenterPoint Energy’s dividend payout ratio (DPR) is -245.24%.
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A number of institutional investors have recently made changes to their positions in CNP. Municipal Employees Retirement System of Michigan boosted its position in shares of CenterPoint Energy by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 13,620 shares of the company’s stock worth $316,000 after buying an additional 50 shares during the period. WealthTrust Axiom LLC boosted its position in shares of CenterPoint Energy by 0.4% in the second quarter. WealthTrust Axiom LLC now owns 14,232 shares of the company’s stock worth $341,000 after buying an additional 59 shares during the period. Washington Trust Bank boosted its position in shares of CenterPoint Energy by 1.7% in the third quarter. Washington Trust Bank now owns 5,474 shares of the company’s stock worth $127,000 after buying an additional 90 shares during the period. Atlantic Trust Group LLC boosted its position in shares of CenterPoint Energy by 1.1% in the second quarter. Atlantic Trust Group LLC now owns 10,512 shares of the company’s stock worth $252,000 after buying an additional 115 shares during the period. Finally, Commonwealth Bank of Australia boosted its position in shares of CenterPoint Energy by 0.3% in the second quarter. Commonwealth Bank of Australia now owns 60,237 shares of the company’s stock worth $1,447,000 after buying an additional 152 shares during the period. Institutional investors own 73.65% of the company’s stock.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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