CenterPoint Energy, Inc. (CNP) PT Raised to $29.00 at Barclays PLC
CenterPoint Energy, Inc. (NYSE:CNP) had its price target upped by equities researchers at Barclays PLC from $27.00 to $29.00 in a report released on Monday. The firm currently has an “equal weight” rating on the stock. Barclays PLC’s price objective would suggest a potential upside of 5.65% from the company’s previous close.
Other research analysts have also issued research reports about the stock. TheStreet upgraded shares of CenterPoint Energy from a “c+” rating to a “b-” rating in a research report on Tuesday, January 10th. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. Finally, Royal Bank of Canada lowered shares of CenterPoint Energy from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $17.00 to $28.00 in a research report on Thursday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. CenterPoint Energy presently has a consensus rating of “Hold” and an average target price of $26.00.
Shares of CenterPoint Energy (NYSE:CNP) traded down 0.83% on Monday, hitting $27.45. The company had a trading volume of 2,932,954 shares. CenterPoint Energy has a 12-month low of $20.46 and a 12-month high of $28.18. The company has a market cap of $11.82 billion, a price-to-earnings ratio of 27.45 and a beta of 0.56. The company has a 50 day moving average of $26.89 and a 200-day moving average of $24.49.
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CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The business earned $2.08 billion during the quarter, compared to analyst estimates of $2.18 billion. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. On average, analysts forecast that CenterPoint Energy will post $1.30 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were issued a dividend of $0.2675 per share. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.26. This represents a $1.07 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Tuesday, February 14th. CenterPoint Energy’s payout ratio is currently -245.24%.
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Several institutional investors have recently bought and sold shares of CNP. Guidant Wealth Advisors bought a new position in CenterPoint Energy during the third quarter valued at approximately $107,000. Kernodle & Katon Asset Management Group LLC boosted its position in CenterPoint Energy by 2,490.1% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 4,714 shares of the company’s stock valued at $109,000 after buying an additional 4,532 shares in the last quarter. Shinko Asset Management Co. Ltd. boosted its position in CenterPoint Energy by 618.5% in the third quarter. Shinko Asset Management Co. Ltd. now owns 8,248 shares of the company’s stock valued at $192,000 after buying an additional 7,100 shares in the last quarter. Laurion Capital Management LP bought a new position in CenterPoint Energy during the third quarter valued at approximately $200,000. Finally, Smithfield Trust Co. bought a new position in CenterPoint Energy during the third quarter valued at approximately $204,000. Institutional investors and hedge funds own 72.50% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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