CenterPoint Energy (NYSE:CNP) Price Target Cut to $15.00 by Analysts at Barclays

CenterPoint Energy (NYSE:CNP) had its target price dropped by equities researchers at Barclays from $20.00 to $15.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective points to a potential downside of 3.91% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Wells Fargo & Co restated a “hold” rating on shares of CenterPoint Energy in a report on Monday, March 2nd. Evercore ISI upgraded CenterPoint Energy from an “in-line” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Monday, January 27th. UBS Group dropped their target price on CenterPoint Energy from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Credit Suisse Group upgraded CenterPoint Energy from a “neutral” rating to an “outperform” rating in a report on Friday, February 28th. Finally, Mizuho dropped their target price on CenterPoint Energy from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. CenterPoint Energy has a consensus rating of “Buy” and a consensus target price of $27.24.

CenterPoint Energy stock traded up $0.48 during mid-day trading on Thursday, reaching $15.61. The stock had a trading volume of 533,310 shares, compared to its average volume of 10,718,207. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.85 and a current ratio of 0.99. CenterPoint Energy has a fifty-two week low of $11.58 and a fifty-two week high of $31.17. The stock’s 50-day simple moving average is $21.54 and its 200-day simple moving average is $25.98. The firm has a market capitalization of $6.85 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 2.05 and a beta of 0.62.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.09. CenterPoint Energy had a return on equity of 14.97% and a net margin of 6.43%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter last year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts forecast that CenterPoint Energy will post 1.33 earnings per share for the current fiscal year.

In related news, CEO Scott M. Prochazka sold 7,000 shares of CenterPoint Energy stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $26.83, for a total transaction of $187,810.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CNP. Norges Bank purchased a new stake in CenterPoint Energy in the fourth quarter worth $141,646,000. Brookfield Public Securities Group LLC purchased a new stake in CenterPoint Energy in the fourth quarter worth $61,517,000. Millennium Management LLC increased its position in CenterPoint Energy by 18,904.3% in the third quarter. Millennium Management LLC now owns 1,970,178 shares of the utilities provider’s stock worth $59,459,000 after buying an additional 1,959,811 shares during the last quarter. Renaissance Technologies LLC increased its position in CenterPoint Energy by 32.2% in the fourth quarter. Renaissance Technologies LLC now owns 6,558,680 shares of the utilities provider’s stock worth $178,855,000 after buying an additional 1,598,180 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in CenterPoint Energy by 31.6% in the fourth quarter. Bank of New York Mellon Corp now owns 6,282,173 shares of the utilities provider’s stock worth $171,315,000 after buying an additional 1,507,905 shares during the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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