CenterPoint Energy (NYSE:CNP) Rating Increased to Hold at StockNews.com

CenterPoint Energy (NYSE:CNP) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also issued reports on CNP. Morgan Stanley upped their price target on shares of CenterPoint Energy from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America assumed coverage on CenterPoint Energy in a research note on Thursday, September 12th. They issued a “neutral” rating and a $29.00 target price for the company. JPMorgan Chase & Co. lowered CenterPoint Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $29.00 in a report on Friday, August 2nd. BMO Capital Markets restated a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. Finally, Scotiabank dropped their target price on CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.55.

CenterPoint Energy Stock Up 0.6 %

CenterPoint Energy stock opened at $29.10 on Friday. CenterPoint Energy has a 1-year low of $25.41 and a 1-year high of $31.57. The business has a fifty day moving average price of $27.49 and a 200-day moving average price of $28.70. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 0.99. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.51 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.04. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company earned $0.28 earnings per share. Equities research analysts forecast that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

Institutional Investors Weigh In On CenterPoint Energy

Hedge funds have recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in CenterPoint Energy in the 1st quarter worth about $25,000. Olistico Wealth LLC acquired a new stake in CenterPoint Energy in the 2nd quarter valued at $33,000. Rothschild Investment LLC acquired a new stake in CenterPoint Energy in the 2nd quarter valued at $33,000. FinTrust Capital Advisors LLC grew its stake in CenterPoint Energy by 60.3% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 452 shares during the period. Finally, Tobam purchased a new stake in CenterPoint Energy in the 1st quarter worth $35,000. 91.77% of the stock is 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 operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.