Bank of America downgraded shares of CenterPoint Energy (NYSE:CNP) from a buy rating to a neutral rating in a research note issued to investors on Friday, Briefing.com Automated Import reports. Bank of America currently has $27.00 target price on the utilities provider’s stock.

A number of other research analysts have also issued reports on the company. SunTrust Banks lowered CenterPoint Energy from a buy rating to a hold rating and set a $27.00 target price for the company. in a report on Friday. Zacks Investment Research lowered CenterPoint Energy from a buy rating to a hold rating and set a $30.00 target price for the company. in a report on Monday, October 14th. Credit Suisse Group lowered CenterPoint Energy from an outperform rating to a neutral rating and decreased their target price for the company from $31.00 to $28.00 in a report on Thursday. Stifel Nicolaus upgraded CenterPoint Energy from a hold rating to a buy rating and lifted their target price for the company from $30.00 to $32.00 in a report on Friday, September 6th. Finally, Guggenheim lowered CenterPoint Energy from a buy rating to a neutral rating and decreased their target price for the company from $32.00 to $29.00 in a report on Friday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $30.07.

NYSE:CNP traded down $0.32 during midday trading on Friday, reaching $25.16. The company had a trading volume of 7,454,209 shares, compared to its average volume of 4,704,159. The firm has a market capitalization of $13.40 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 3.18 and a beta of 0.47. The stock’s fifty day simple moving average is $28.60 and its 200-day simple moving average is $28.94. CenterPoint Energy has a 12-month low of $25.09 and a 12-month high of $31.42. The company has a current ratio of 0.99, a quick ratio of 0.83 and a debt-to-equity ratio of 2.12.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.10. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.91 billion. CenterPoint Energy had a return on equity of 14.51% and a net margin of 6.23%. CenterPoint Energy’s revenue was up 24.0% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share. As a group, sell-side analysts expect that CenterPoint Energy will post 1.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Wednesday, November 20th. CenterPoint Energy’s dividend payout ratio (DPR) is 71.88%.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of CenterPoint Energy stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $30.06, for a total transaction of $210,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 21,000 shares of company stock valued at $608,440 over the last ninety days. 0.24% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CNP. Prime Capital Investment Advisors LLC purchased a new stake in shares of CenterPoint Energy in the 3rd quarter valued at about $27,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of CenterPoint Energy in the 3rd quarter valued at about $34,000. Advantage Investment Management LLC lifted its holdings in shares of CenterPoint Energy by 432.7% in the 2nd quarter. Advantage Investment Management LLC now owns 1,598 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 1,298 shares during the last quarter. TD Capital Management LLC purchased a new stake in shares of CenterPoint Energy in the 2nd quarter valued at about $47,000. Finally, Parallel Advisors LLC lifted its holdings in shares of CenterPoint Energy by 161.8% in the 3rd quarter. Parallel Advisors LLC now owns 1,809 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 1,118 shares during the last quarter. 80.21% of the stock is owned by institutional investors.

CenterPoint Energy Company Profile

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.

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Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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