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.
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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