SunTrust Banks Analysts Give CenterPoint Energy (CNP) a $27.00 Price Target

CenterPoint Energy (NYSE:CNP) has been given a $27.00 price objective by SunTrust Banks in a research report issued to clients and investors on Monday. The brokerage presently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ price objective would suggest a potential upside of 2.08% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Friday, February 2nd. Guggenheim cut CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. They noted that the move was a valuation call. Bank of America began coverage on CenterPoint Energy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price objective for the company. Finally, Citigroup boosted their price objective on CenterPoint Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, November 20th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $29.22.

CenterPoint Energy (CNP) traded down $0.05 during midday trading on Monday, hitting $26.45. The company had a trading volume of 936,735 shares, compared to its average volume of 4,113,396. CenterPoint Energy has a fifty-two week low of $25.51 and a fifty-two week high of $30.45. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 2.08. The firm has a market cap of $11,422.39, a PE ratio of 19.33, a PEG ratio of 3.01 and a beta of 0.56.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $27.91, for a total value of $27,910.00. The transaction was disclosed in a legal 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 $85,410. Insiders own 0.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CNP. APG Asset Management N.V. raised its holdings in CenterPoint Energy by 410.6% in the 3rd quarter. APG Asset Management N.V. now owns 7,214,510 shares of the utilities provider’s stock valued at $210,736,000 after acquiring an additional 5,801,591 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in CenterPoint Energy by 145.5% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,350,657 shares of the utilities provider’s stock valued at $127,083,000 after acquiring an additional 2,578,527 shares in the last quarter. Wells Fargo & Company MN raised its holdings in CenterPoint Energy by 171.0% in the 3rd quarter. Wells Fargo & Company MN now owns 3,457,855 shares of the utilities provider’s stock valued at $101,004,000 after acquiring an additional 2,181,883 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in CenterPoint Energy by 108.7% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 3,665,608 shares of the utilities provider’s stock valued at $103,956,000 after acquiring an additional 1,909,129 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in CenterPoint Energy by 34.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,224,869 shares of the utilities provider’s stock valued at $123,408,000 after acquiring an additional 1,081,782 shares in the last quarter. 77.85% of the stock is owned by hedge funds and other institutional investors.

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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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