Shares of CenterPoint Energy, Inc. (NYSE:CNP) have been assigned an average recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $26.75.
Several equities analysts have weighed in on CNP shares. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Friday, June 16th. J P Morgan Chase & Co assumed coverage on CenterPoint Energy in a report on Thursday, June 29th. They set a “neutral” rating and a $29.00 price objective on the stock. Deutsche Bank AG raised their price objective on CenterPoint Energy from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Finally, BidaskClub cut CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $28.67, for a total transaction of $28,670.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 3,000 shares of company stock worth $84,560. Company insiders own 0.20% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of CenterPoint Energy by 1,521.6% in the first quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock worth $1,076,193,000 after buying an additional 36,627,665 shares in the last quarter. Vanguard Group Inc. boosted its stake in CenterPoint Energy by 5.3% in the first quarter. Vanguard Group Inc. now owns 47,293,206 shares of the utilities provider’s stock worth $1,303,873,000 after buying an additional 2,359,375 shares during the period. Bank of Montreal Can boosted its stake in CenterPoint Energy by 44.9% in the first quarter. Bank of Montreal Can now owns 3,538,779 shares of the utilities provider’s stock worth $97,563,000 after buying an additional 1,096,176 shares during the period. Janus Capital Management LLC boosted its stake in CenterPoint Energy by 30.5% in the first quarter. Janus Capital Management LLC now owns 3,812,467 shares of the utilities provider’s stock worth $105,110,000 after buying an additional 891,785 shares during the period. Finally, State Street Corp boosted its stake in CenterPoint Energy by 3.6% in the first quarter. State Street Corp now owns 23,857,898 shares of the utilities provider’s stock worth $657,763,000 after buying an additional 818,887 shares during the period. Hedge funds and other institutional investors own 77.16% of the company’s stock.
CenterPoint Energy (NYSE CNP) traded up 0.73% during mid-day trading on Friday, hitting $28.95. The stock had a trading volume of 1,299,054 shares. The stock has a 50-day moving average price of $27.92 and a 200 day moving average price of $27.54. CenterPoint Energy has a 12-month low of $21.83 and a 12-month high of $29.08. The firm has a market cap of $12.48 billion, a P/E ratio of 26.81 and a beta of 0.64.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business posted $0.17 EPS. The company’s revenue for the quarter was up 36.1% on a year-over-year basis. Equities analysts anticipate that CenterPoint Energy will post $1.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th will be issued a $0.2675 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.07 annualized dividend and a dividend yield of 3.72%. CenterPoint Energy’s dividend payout ratio is currently 76.98%.
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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.
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