CenterPoint Energy, Inc. (NYSE:CNP) has earned a consensus recommendation of “Buy” from the twelve research firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $32.57.
Several research firms have weighed in on CNP. ValuEngine upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Goldman Sachs Group began coverage on shares of CenterPoint Energy in a report on Monday, February 25th. They issued a “buy” rating and a $34.00 target price for the company. Credit Suisse Group set a $33.00 target price on shares of CenterPoint Energy and gave the company a “buy” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. lowered their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada upgraded shares of CenterPoint Energy from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $29.00 to $34.00 in a report on Friday, January 18th.
CNP stock traded up $0.20 during mid-day trading on Friday, reaching $29.80. The company had a trading volume of 220,988 shares, compared to its average volume of 4,769,669. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 2.12. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 3.36 and a beta of 0.45. CenterPoint Energy has a 52 week low of $25.10 and a 52 week high of $31.42.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06). The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.84 billion. CenterPoint Energy had a net margin of 3.39% and a return on equity of 13.31%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities research analysts anticipate that CenterPoint Energy will post 1.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s payout ratio is 71.88%.
In related news, VP Joseph John Vortherms sold 2,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $30.10, for a total transaction of $60,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $29.98, for a total transaction of $119,920.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,000 shares of company stock valued at $4,077,030. Company insiders own 0.24% of the company’s stock.
A number of large investors have recently modified their holdings of CNP. Vanguard Group Inc boosted its stake in CenterPoint Energy by 10.6% during the 3rd quarter. Vanguard Group Inc now owns 54,775,862 shares of the utilities provider’s stock worth $1,514,553,000 after purchasing an additional 5,270,138 shares during the period. Norges Bank acquired a new stake in CenterPoint Energy during the 4th quarter worth $146,903,000. FMR LLC boosted its stake in CenterPoint Energy by 114.6% during the 4th quarter. FMR LLC now owns 6,472,243 shares of the utilities provider’s stock worth $182,711,000 after purchasing an additional 3,456,131 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in CenterPoint Energy during the 1st quarter worth $69,287,000. Finally, AQR Capital Management LLC raised its position in CenterPoint Energy by 48.4% during the 1st quarter. AQR Capital Management LLC now owns 6,221,359 shares of the utilities provider’s stock worth $190,995,000 after buying an additional 2,028,212 shares during the last quarter. Hedge funds and other institutional investors own 81.33% of the company’s stock.
CenterPoint Energy Company Profile
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.
See Also: What is a Backdoor Roth IRA?
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.