CenterPoint Energy, Inc. (CNP) Receives Average Recommendation of “Hold” from Brokerages
Shares of CenterPoint Energy, Inc. (NYSE:CNP) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $27.25.
A number of equities analysts recently commented on CNP shares. BidaskClub upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Credit Suisse Group upgraded CenterPoint Energy from an “underperform” rating to a “neutral” rating and upped their target price for the company from $28.82 to $29.00 in a report on Monday, August 14th. Finally, J P Morgan Chase & Co started coverage on CenterPoint Energy in a report on Thursday, June 29th. They set a “neutral” rating and a $29.00 target price for the company.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $27.66, for a total value of $27,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 3,000 shares of company stock valued at $84,560. 0.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. AXA purchased a new position in CenterPoint Energy during the first quarter worth about $3,436,000. BlackRock Inc. increased its position in CenterPoint Energy by 1,521.6% in the first quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock worth $1,076,193,000 after buying an additional 36,627,665 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in CenterPoint Energy by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 10,912 shares of the utilities provider’s stock worth $281,000 after buying an additional 529 shares during the period. Sawtooth Solutions LLC increased its position in CenterPoint Energy by 13.1% in the first quarter. Sawtooth Solutions LLC now owns 10,003 shares of the utilities provider’s stock worth $276,000 after buying an additional 1,162 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in CenterPoint Energy by 647.6% in the first quarter. BNP Paribas Arbitrage SA now owns 762,017 shares of the utilities provider’s stock worth $21,009,000 after buying an additional 660,085 shares during the period. Institutional investors and hedge funds own 76.85% of the company’s stock.
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Shares of CenterPoint Energy (NYSE:CNP) traded down 0.77% during midday trading on Wednesday, hitting $29.66. 2,518,580 shares of the stock traded hands. The firm’s 50-day moving average is $28.41 and its 200 day moving average is $27.91. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 21.19 and a beta of 0.64. CenterPoint Energy has a 52 week low of $21.83 and a 52 week high of $29.89.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business’s revenue was up 36.1% on a year-over-year basis. Equities analysts forecast that CenterPoint Energy will post $1.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.2675 per share. The ex-dividend date is Monday, August 14th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.61%. CenterPoint Energy’s dividend payout ratio is presently 76.98%.
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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