SunTrust Banks, Inc. Reaffirms Hold Rating for CenterPoint Energy, Inc. (CNP)
SunTrust Banks, Inc. reaffirmed their hold rating on shares of CenterPoint Energy, Inc. (NYSE:CNP) in a report published on Monday. They currently have a $30.00 target price on the utilities provider’s stock. SunTrust Banks also issued estimates for CenterPoint Energy’s Q3 2018 earnings at $0.44 EPS and Q4 2018 earnings at $0.29 EPS.
A number of other equities research analysts have also recently commented on CNP. BidaskClub raised shares of CenterPoint Energy from a hold rating to a buy rating in a research note on Thursday, August 10th. Credit Suisse Group raised shares of CenterPoint Energy from an underperform rating to a neutral rating and increased their price objective for the company from $28.82 to $29.00 in a research note on Monday, August 14th. J P Morgan Chase & Co began coverage on shares of CenterPoint Energy in a research note on Thursday, June 29th. They issued a neutral rating and a $29.00 price objective on the stock. Royal Bank Of Canada reissued a hold rating and issued a $29.00 price objective on shares of CenterPoint Energy in a research note on Monday, September 11th. Finally, Zacks Investment Research cut shares of CenterPoint Energy from a buy rating to a hold rating in a research note on Monday, July 17th. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $28.00.
CenterPoint Energy (CNP) opened at 28.99 on Monday. CenterPoint Energy has a 52-week low of $21.83 and a 52-week high of $30.45. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 20.71 and a beta of 0.62. The company’s 50-day moving average is $29.57 and its 200-day moving average is $28.41.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.07. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.98 billion. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm’s revenue was up 36.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS. Equities analysts predict that CenterPoint Energy will post $1.34 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th were paid a dividend of $0.2675 per share. The ex-dividend date was Monday, August 14th. This represents a $1.07 annualized dividend and a dividend yield of 3.69%. CenterPoint Energy’s dividend payout ratio is currently 76.98%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.61, for a total transaction of $29,610.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 3,000 shares of company stock worth $86,920 over the last ninety days. 0.20% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in CNP. UBS Asset Management Americas Inc. boosted its stake in shares of CenterPoint Energy by 24.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,848,440 shares of the utilities provider’s stock worth $50,961,000 after purchasing an additional 367,091 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of CenterPoint Energy by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 8,205 shares of the utilities provider’s stock worth $226,000 after purchasing an additional 260 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of CenterPoint Energy by 26.6% during the 1st quarter. Nordea Investment Management AB now owns 18,039 shares of the utilities provider’s stock worth $497,000 after purchasing an additional 3,791 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of CenterPoint Energy by 9.4% during the 1st quarter. Stifel Financial Corp now owns 11,545 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 989 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of CenterPoint Energy by 36.1% during the 1st quarter. Schroder Investment Management Group now owns 122,260 shares of the utilities provider’s stock worth $3,363,000 after purchasing an additional 32,425 shares during the last quarter. 76.87% of the stock is currently owned by institutional investors.
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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