CenterPoint Energy, Inc. (CNP) Receives Consensus Rating of “Hold” from Brokerages

CenterPoint Energy, Inc. (NYSE:CNP) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $29.71.

A number of equities research analysts have issued reports on the company. ValuEngine downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. JPMorgan Chase & Co. upgraded CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research report on Wednesday, September 5th. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Monday, July 23rd. Barclays assumed coverage on CenterPoint Energy in a research report on Monday, October 22nd. They set a “hold” rating and a $30.00 price objective on the stock. Finally, Wells Fargo & Co upgraded CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Monday, October 8th.

Shares of NYSE:CNP traded up $0.05 during mid-day trading on Monday, reaching $27.22. The stock had a trading volume of 3,933,223 shares, compared to its average volume of 4,720,289. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $13.62 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.96 and a beta of 0.44. CenterPoint Energy has a 1 year low of $24.81 and a 1 year high of $30.17.



CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Friday, August 3rd. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts forecast that CenterPoint Energy will post 1.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.11 dividend on an annualized basis and a yield of 4.08%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 81.02%.

In other news, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $27.99, for a total transaction of $111,960.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Milton Carroll sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total value of $282,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,000 shares of company stock worth $504,820. Company insiders own 0.22% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Braun Bostich & Associates Inc. grew its stake in shares of CenterPoint Energy by 1,372.0% during the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock valued at $115,000 after buying an additional 3,869 shares during the last quarter. Ropes Wealth Advisors LLC bought a new position in shares of CenterPoint Energy during the second quarter valued at approximately $130,000. Signet Financial Management LLC grew its stake in shares of CenterPoint Energy by 649.6% during the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock valued at $147,000 after buying an additional 4,612 shares during the last quarter. FNY Investment Advisers LLC grew its stake in shares of CenterPoint Energy by 2,962.2% during the third quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock valued at $176,000 after buying an additional 6,191 shares during the last quarter. Finally, UMB Bank N A MO bought a new position in shares of CenterPoint Energy during the third quarter valued at approximately $210,000. 66.83% of the stock is currently owned by hedge funds and other institutional investors.

About CenterPoint Energy

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.

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Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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