CenterPoint Energy (NYSE:CNP – Free Report) had its price target reduced by Scotiabank from $31.00 to $29.00 in a research note released on Monday, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.
Other analysts have also recently issued research reports about the stock. Mizuho reissued a neutral rating and set a $29.00 price objective (down previously from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. Barclays raised their price objective on shares of CenterPoint Energy from $28.00 to $29.00 and gave the stock an underweight rating in a report on Thursday, March 14th. KeyCorp raised their price objective on shares of CenterPoint Energy from $29.00 to $31.00 and gave the stock an overweight rating in a report on Thursday, January 4th. Evercore ISI cut shares of CenterPoint Energy from an outperform rating to an in-line rating and raised their price objective for the stock from $29.00 to $30.00 in a report on Tuesday, January 23rd. Finally, Guggenheim cut their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set a buy rating on the stock in a report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $30.18.
Check Out Our Latest Stock Report on CNP
CenterPoint Energy Stock Up 1.0 %
CenterPoint Energy (NYSE:CNP – Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. CenterPoint Energy had a net margin of 10.55% and a return on equity of 10.44%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, research analysts forecast that CenterPoint Energy will post 1.62 EPS for the current fiscal year.
Hedge Funds Weigh In On CenterPoint Energy
A number of institutional investors have recently modified their holdings of the business. DnB Asset Management AS increased its stake in CenterPoint Energy by 1.0% in the 3rd quarter. DnB Asset Management AS now owns 135,300 shares of the utilities provider’s stock valued at $3,633,000 after buying an additional 1,402 shares during the period. HB Wealth Management LLC boosted its position in shares of CenterPoint Energy by 6.7% during the 3rd quarter. HB Wealth Management LLC now owns 20,662 shares of the utilities provider’s stock worth $555,000 after purchasing an additional 1,297 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of CenterPoint Energy by 51.6% during the 3rd quarter. SG Americas Securities LLC now owns 75,806 shares of the utilities provider’s stock worth $2,035,000 after purchasing an additional 25,804 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of CenterPoint Energy by 3.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 33,098 shares of the utilities provider’s stock worth $889,000 after purchasing an additional 998 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC boosted its position in shares of CenterPoint Energy by 14.0% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 49,424 shares of the utilities provider’s stock worth $1,327,000 after purchasing an additional 6,052 shares in the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.
Recommended Stories
- Five stocks we like better than CenterPoint Energy
- Ride Out The Recession With These Dividend Kings
- Hasbro’s Management Made All the Right Calls This Quarter
- NYSE Stocks Give Investors a Variety of Quality Options
- Caterpillar’s Market Reset Isn’t Over: Get Ready for Lower Prices
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Power Surge: Utilities Sector’s Resilience Shines
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.