Houston Lighting & Power (CNP) Given New $29.00 Price Target at JPMorgan Chase

Houston Lighting & Power (NYSE:CNP) had its price target raised by JPMorgan Chase from $28.00 to $29.00 in a report released on Tuesday. JPMorgan Chase currently has a neutral rating on the utilities provider’s stock.

CNP has been the subject of several other research reports. Guggenheim restated a hold rating and issued a $28.00 price target on shares of Houston Lighting & Power in a report on Friday, February 23rd. Citigroup reduced their price target on shares of Houston Lighting & Power from $30.00 to $27.00 and set a neutral rating for the company in a report on Tuesday, March 27th. Bank of America lowered shares of Houston Lighting & Power from a neutral rating to an underperform rating in a report on Thursday, March 22nd. Zacks Investment Research upgraded shares of Houston Lighting & Power from a hold rating to a buy rating and set a $31.00 price target for the company in a report on Tuesday, January 16th. Finally, SunTrust Banks restated a hold rating and issued a $28.00 price target on shares of Houston Lighting & Power in a report on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Houston Lighting & Power currently has a consensus rating of Hold and a consensus price target of $28.63.

Shares of CNP opened at $26.53 on Tuesday. Houston Lighting & Power has a 1-year low of $25.84 and a 1-year high of $30.45. The stock has a market cap of $11,565.02, a P/E ratio of 19.36, a P/E/G ratio of 2.95 and a beta of 0.49. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.11 and a quick ratio of 0.98.



Houston Lighting & Power (NYSE:CNP) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Houston Lighting & Power had a net margin of 18.64% and a return on equity of 15.51%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the business posted $0.26 EPS. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. research analysts forecast that Houston Lighting & Power will post 1.55 EPS for the current fiscal year.

In related news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $26.99, for a total transaction of $26,990.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Milton Carroll sold 43,363 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $27.20, for a total transaction of $1,179,473.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,363 shares of company stock valued at $1,342,894. Company insiders own 0.22% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. KCM Investment Advisors LLC raised its stake in shares of Houston Lighting & Power by 2.9% during the 4th quarter. KCM Investment Advisors LLC now owns 68,223 shares of the utilities provider’s stock worth $1,935,000 after acquiring an additional 1,936 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Houston Lighting & Power by 10.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 38,177 shares of the utilities provider’s stock worth $1,083,000 after acquiring an additional 3,503 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Houston Lighting & Power by 890.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 17,768 shares of the utilities provider’s stock worth $995,000 after acquiring an additional 15,974 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Houston Lighting & Power by 70.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 291,080 shares of the utilities provider’s stock worth $8,257,000 after acquiring an additional 120,596 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Houston Lighting & Power by 37.5% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 30,800 shares of the utilities provider’s stock worth $873,000 after acquiring an additional 8,400 shares in the last quarter. Hedge funds and other institutional investors own 76.77% of the company’s stock.

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About Houston Lighting & Power

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.

Analyst Recommendations for Houston Lighting & Power (NYSE:CNP)

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