Shares of CenterPoint Energy, Inc. (NYSE:CNP) have earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $28.75.

A number of brokerages have weighed in on CNP. Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 target price on shares of CenterPoint Energy in a research note on Monday, September 11th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Bank of America Corporation began coverage on shares of CenterPoint Energy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $30.00 target price for the company. BidaskClub raised shares of CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Finally, J P Morgan Chase & Co set a $30.00 target price on shares of CenterPoint Energy and gave the company a “hold” rating in a research note on Thursday, October 12th.

Shares of CenterPoint Energy (NYSE:CNP) traded down $0.40 during midday trading on Monday, hitting $29.41. 2,403,700 shares of the company’s stock were exchanged, compared to its average volume of 2,838,937. CenterPoint Energy has a fifty-two week low of $22.32 and a fifty-two week high of $30.45. The company has a market capitalization of $12,676.70, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 4.07 and a beta of 0.64. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 2.08.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.39. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. research analysts forecast that CenterPoint Energy will post 1.31 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 16th will be given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio (DPR) is currently 78.10%.

In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 3,000 shares of company stock valued at $88,300 in the last three months. 0.20% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of CNP. APG Asset Management N.V. boosted its holdings in CenterPoint Energy by 410.6% in the third quarter. APG Asset Management N.V. now owns 7,214,510 shares of the utilities provider’s stock worth $210,736,000 after purchasing an additional 5,801,591 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in CenterPoint Energy by 8,190.9% in the second quarter. Janus Henderson Group PLC now owns 4,550,195 shares of the utilities provider’s stock worth $124,585,000 after purchasing an additional 4,495,313 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in CenterPoint Energy by 145.5% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 4,350,657 shares of the utilities provider’s stock worth $127,083,000 after purchasing an additional 2,578,527 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in CenterPoint Energy by 171.0% in the third quarter. Wells Fargo & Company MN now owns 3,457,855 shares of the utilities provider’s stock worth $101,004,000 after purchasing an additional 2,181,883 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in CenterPoint Energy by 3.7% in the second quarter. Vanguard Group Inc. now owns 49,060,465 shares of the utilities provider’s stock worth $1,343,275,000 after purchasing an additional 1,767,259 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

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CenterPoint Energy Company Profile

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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