CenterPoint Energy (NYSE:CNP) Given New $47.00 Price Target at JPMorgan Chase & Co.

CenterPoint Energy (NYSE:CNP) had its target price increased by JPMorgan Chase & Co. from $45.00 to $47.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Several other analysts have also commented on the stock. Evercore set a $45.00 price objective on shares of CenterPoint Energy in a research report on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of CenterPoint Energy in a research report on Monday, June 15th. Jefferies Financial Group set a $50.00 price target on shares of CenterPoint Energy in a research note on Thursday, June 18th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $48.00 price target on shares of CenterPoint Energy in a report on Tuesday, April 21st. Finally, BTIG Research began coverage on CenterPoint Energy in a research note on Tuesday, June 30th. They issued a “neutral” rating on the stock. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, CenterPoint Energy presently has a consensus rating of “Hold” and an average price target of $45.31.

CenterPoint Energy Stock Performance

Shares of CNP opened at $43.29 on Thursday. The stock has a 50 day moving average of $42.98 and a 200 day moving average of $42.11. The company has a market capitalization of $28.32 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.53 and a beta of 0.46. CenterPoint Energy has a 12 month low of $35.94 and a 12 month high of $45.22. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.96.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.02). The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $1.98 billion. CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.During the same period in the prior year, the firm posted $0.53 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. As a group, sell-side analysts forecast that CenterPoint Energy will post 1.91 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.24 per share. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, August 20th. CenterPoint Energy’s dividend payout ratio (DPR) is currently 56.44%.

Hedge Funds Weigh In On CenterPoint Energy

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new stake in CenterPoint Energy during the 4th quarter worth about $254,000. AQR Capital Management LLC increased its holdings in CenterPoint Energy by 15.6% during the 1st quarter. AQR Capital Management LLC now owns 76,100 shares of the utilities provider’s stock worth $2,757,000 after acquiring an additional 10,277 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CenterPoint Energy by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,683 shares of the utilities provider’s stock worth $2,525,000 after purchasing an additional 3,821 shares in the last quarter. Empowered Funds LLC lifted its stake in CenterPoint Energy by 11.5% in the 1st quarter. Empowered Funds LLC now owns 13,411 shares of the utilities provider’s stock worth $486,000 after purchasing an additional 1,384 shares in the last quarter. Finally, Woodline Partners LP lifted its stake in CenterPoint Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 55,061 shares of the utilities provider’s stock worth $1,995,000 after purchasing an additional 15,922 shares in the last quarter. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.