Morgan Stanley Boosts CenterPoint Energy (NYSE:CNP) Price Target to $31.00

CenterPoint Energy (NYSE:CNP) had its target price raised by equities researchers at Morgan Stanley from $30.00 to $31.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 5.95% from the stock’s current price.

Several other equities research analysts have also commented on CNP. Goldman Sachs Group initiated coverage on CenterPoint Energy in a research note on Monday, February 25th. They set a “buy” rating and a $34.00 price target on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a research note on Thursday, February 28th. ValuEngine lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Credit Suisse Group set a $32.00 target price on CenterPoint Energy and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. reduced their target price on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $31.86.

Shares of NYSE:CNP opened at $29.26 on Friday. The company has a market cap of $14.55 billion, a PE ratio of 18.29, a PEG ratio of 3.24 and a beta of 0.51. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.97 and a current ratio of 1.09. CenterPoint Energy has a 12 month low of $25.65 and a 12 month high of $31.42.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.84 billion. CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. CenterPoint Energy’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Analysts expect that CenterPoint Energy will post 1.64 EPS for the current fiscal year.

In related news, insider Milton Carroll sold 19,780 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $29.70, for a total transaction of $587,466.00. Following the completion of the sale, the insider now directly owns 98,301 shares in the company, valued at $2,919,539.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott M. Prochazka sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $30.90, for a total transaction of $216,300.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,780 shares of company stock worth $1,573,746. 0.24% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of CNP. Edmond DE Rothschild Holding S.A. bought a new position in shares of CenterPoint Energy during the 1st quarter valued at $25,000. PRW Wealth Management LLC acquired a new stake in CenterPoint Energy in the 4th quarter worth $29,000. Flagship Harbor Advisors LLC grew its position in CenterPoint Energy by 174.6% in the 1st quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 604 shares during the last quarter. Claybrook Capital LLC acquired a new stake in CenterPoint Energy in the 4th quarter worth $31,000. Finally, Parallel Advisors LLC grew its position in CenterPoint Energy by 89.4% in the 4th quarter. Parallel Advisors LLC now owns 1,352 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 78.35% of the company’s stock.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

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