CenterPoint Energy Upgraded at Argus (CNP)
CenterPoint Energy (NYSE:CNP) was upgraded by Argus from a “hold” rating to a “buy” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at SunTrust reiterated a “neutral” rating on shares of CenterPoint Energy in a research note on Monday, August 4th. They now have a $25.00 price target on the stock, down previously from $26.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of CenterPoint Energy in a research note on Thursday, July 10th. They now have a $29.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of CenterPoint Energy from $26.00 to $27.00 in a research note on Tuesday, July 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.17.
CenterPoint Energy (NYSE:CNP) opened at 24.65 on Wednesday. CenterPoint Energy has a 1-year low of $22.46 and a 1-year high of $25.75. The stock has a 50-day moving average of $24.68 and a 200-day moving average of $24.1. The company has a market cap of $10.594 billion and a price-to-earnings ratio of 18.92. CenterPoint Energy also was the target of some unusual options trading on Monday. Traders acquired 2,772 put options on the stock. This is an increase of 348% compared to the average volume of 619 put options.
CenterPoint Energy (NYSE:CNP) last released its earnings data on Wednesday, August 6th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts expect that CenterPoint Energy will post $1.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.2375 per share. This represents a $0.95 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Wednesday, August 13th.
CenterPoint Energy, Inc is a domestic energy delivery company. The Company’s business segments include Electric Transmission and Distribution, Natural Gas Distribution, Competitive Natural Gas Sales and Services, Interstate Pipelines, Field Services and Other Operations.
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