CenterPoint Energy, Inc. (NYSE:CNP) was upgraded by stock analysts at Credit Suisse Group from an “underperform” rating to a “neutral” rating in a report issued on Monday, Marketbeat.com reports. The firm currently has a $29.00 price target on the utilities provider’s stock, up from their prior price target of $28.82. Credit Suisse Group’s price objective suggests a potential upside of 0.62% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. BidaskClub downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, J P Morgan Chase & Co assumed coverage on CenterPoint Energy in a report on Thursday, June 29th. They set a “neutral” rating and a $29.00 target price for the company. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. CenterPoint Energy currently has an average rating of “Hold” and an average price target of $27.33.

CenterPoint Energy (NYSE CNP) traded up 0.73% during trading on Monday, reaching $28.76. 1,157,659 shares of the company traded hands. The company’s 50-day moving average is $28.00 and its 200 day moving average is $27.68. CenterPoint Energy has a 12 month low of $21.83 and a 12 month high of $29.45. The company has a market cap of $12.40 billion, a PE ratio of 20.54 and a beta of 0.64.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the firm earned $0.17 earnings per share. The company’s revenue was up 36.1% on a year-over-year basis. On average, analysts anticipate that CenterPoint Energy will post $1.34 earnings per share for the current year.

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In related news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $28.23, for a total value of $28,230.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 3,000 shares of company stock valued at $84,560. 0.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in CenterPoint Energy by 1,521.6% in the first quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock worth $1,076,193,000 after buying an additional 36,627,665 shares during the period. Vanguard Group Inc. increased its position in CenterPoint Energy by 5.3% in the first quarter. Vanguard Group Inc. now owns 47,293,206 shares of the utilities provider’s stock worth $1,303,873,000 after buying an additional 2,359,375 shares during the period. AJO LP increased its position in CenterPoint Energy by 74.9% in the second quarter. AJO LP now owns 2,540,198 shares of the utilities provider’s stock worth $69,551,000 after buying an additional 1,087,736 shares during the period. Janus Capital Management LLC increased its position in CenterPoint Energy by 30.5% in the first quarter. Janus Capital Management LLC now owns 3,812,467 shares of the utilities provider’s stock worth $105,110,000 after buying an additional 891,785 shares during the period. Finally, State Street Corp increased its position in CenterPoint Energy by 3.6% in the first quarter. State Street Corp now owns 23,857,898 shares of the utilities provider’s stock worth $657,763,000 after buying an additional 818,887 shares during the period. 76.76% of the stock is owned by institutional investors and hedge funds.

About CenterPoint Energy

CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.

Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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