CenterPoint Energy (NYSE:CNP) Given New $41.00 Price Target at Evercore ISI

CenterPoint Energy (NYSE:CNP) had its price target hoisted by analysts at Evercore ISI from $37.00 to $41.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Evercore ISI’s price objective suggests a potential upside of 7.19% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the company. BMO Capital Markets boosted their price target on CenterPoint Energy from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. boosted their target price on CenterPoint Energy from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Jefferies Financial Group assumed coverage on shares of CenterPoint Energy in a report on Wednesday, April 2nd. They issued a “buy” rating and a $42.00 price target on the stock. Morgan Stanley reiterated an “outperform” rating on shares of CenterPoint Energy in a research note on Wednesday, April 23rd. Finally, Guggenheim lowered shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.79.

CenterPoint Energy Trading Up 0.0 %

Shares of CNP stock opened at $38.25 on Monday. The firm’s 50-day simple moving average is $35.80 and its 200-day simple moving average is $33.03. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.08 and a quick ratio of 0.92. CenterPoint Energy has a 1-year low of $25.41 and a 1-year high of $38.42. The firm has a market cap of $24.97 billion, a P/E ratio of 24.06, a PEG ratio of 2.71 and a beta of 0.65.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the business earned $0.55 EPS. As a group, equities analysts forecast that CenterPoint Energy will post 1.75 EPS for the current year.

Institutional Investors Weigh In On CenterPoint Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors grew its position in shares of CenterPoint Energy by 0.4% during the fourth quarter. Capital International Investors now owns 87,449,927 shares of the utilities provider’s stock worth $2,774,941,000 after buying an additional 334,631 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in CenterPoint Energy by 4.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 46,645,434 shares of the utilities provider’s stock valued at $1,480,060,000 after acquiring an additional 1,922,169 shares in the last quarter. Capital Research Global Investors boosted its stake in CenterPoint Energy by 156.4% during the 4th quarter. Capital Research Global Investors now owns 45,573,115 shares of the utilities provider’s stock valued at $1,446,036,000 after acquiring an additional 27,799,744 shares during the last quarter. Geode Capital Management LLC grew its holdings in CenterPoint Energy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 15,490,728 shares of the utilities provider’s stock worth $490,205,000 after acquiring an additional 406,832 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of CenterPoint Energy by 7.9% in the 4th quarter. Northern Trust Corp now owns 5,880,015 shares of the utilities provider’s stock worth $186,573,000 after purchasing an additional 431,260 shares during the last quarter. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.