CenterPoint Energy, Inc. (CNP) Upgraded by Credit Suisse Group to Neutral
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.
ILLEGAL ACTIVITY WARNING: “CenterPoint Energy, Inc. (CNP) Upgraded by Credit Suisse Group to Neutral” was first published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/14/centerpoint-energy-inc-nysecnp-lifted-to-neutral-at-credit-suisse-group.html.
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.
Receive News & Ratings for CenterPoint Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.