CenterPoint Energy (NYSE:CNP) Price Target Raised to $47.00 at KeyCorp

CenterPoint Energy (NYSE:CNP) had its price target increased by KeyCorp from $41.00 to $47.00 in a research report sent to investors on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the utilities provider’s stock.

Several other brokerages have also recently commented on CNP. Wells Fargo & Company boosted their price target on shares of CenterPoint Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Citigroup reiterated a “neutral” rating on shares of CenterPoint Energy in a research report on Thursday, February 19th. Morgan Stanley restated an “underperform” rating and set a $37.00 price target on shares of CenterPoint Energy in a report on Wednesday, January 21st. Wall Street Zen raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Mizuho set a $44.00 target price on CenterPoint Energy in a research report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, CenterPoint Energy currently has an average rating of “Hold” and a consensus target price of $42.55.

CenterPoint Energy Trading Up 1.4%

CNP stock opened at $44.00 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.91 and a quick ratio of 0.79. CenterPoint Energy has a 1-year low of $33.24 and a 1-year high of $44.04. The business has a 50 day simple moving average of $40.27 and a two-hundred day simple moving average of $39.24. The company has a market capitalization of $28.73 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 2.57 and a beta of 0.58.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). CenterPoint Energy had a net margin of 11.24% and a return on equity of 10.46%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $0.40 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.900- EPS. Research analysts anticipate that CenterPoint Energy will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, February 19th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.22. CenterPoint Energy’s dividend payout ratio is 57.50%.

Hedge Funds Weigh In On CenterPoint Energy

Several large investors have recently modified their holdings of the stock. Capital International Investors boosted its stake in shares of CenterPoint Energy by 1.0% during the 3rd quarter. Capital International Investors now owns 87,129,628 shares of the utilities provider’s stock worth $3,381,069,000 after purchasing an additional 833,374 shares during the period. Vanguard Group Inc. lifted its stake in CenterPoint Energy by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 82,381,128 shares of the utilities provider’s stock worth $3,158,492,000 after purchasing an additional 719,803 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of CenterPoint Energy by 13.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider’s stock valued at $2,234,712,000 after buying an additional 6,794,535 shares during the period. Capital Research Global Investors grew its stake in shares of CenterPoint Energy by 1.1% during the fourth quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock valued at $802,916,000 after buying an additional 235,346 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of CenterPoint Energy by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 17,023,720 shares of the utilities provider’s stock worth $650,189,000 after buying an additional 166,305 shares during the period. Institutional investors own 91.77% of the company’s stock.

About CenterPoint Energy

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.