CenterPoint Energy, Inc. (NYSE:CNP) Given Average Rating of “Buy” by Brokerages

Shares of CenterPoint Energy, Inc. (NYSE:CNP) have been given a consensus rating of “Buy” by the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $31.73.

Several equities research analysts have issued reports on the company. Goldman Sachs Group lifted their price objective on CenterPoint Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Morgan Stanley lifted their price objective on CenterPoint Energy from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, June 14th. Credit Suisse Group set a $33.00 price objective on CenterPoint Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Mizuho assumed coverage on CenterPoint Energy in a report on Monday, June 3rd. They set a “buy” rating and a $31.00 price objective on the stock. Finally, KeyCorp assumed coverage on CenterPoint Energy in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock.

In other news, CEO Scott M. Prochazka sold 7,000 shares of CenterPoint Energy stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.40, for a total value of $198,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Milton Carroll sold 19,780 shares of CenterPoint Energy stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $29.70, for a total value of $587,466.00. Following the completion of the transaction, the insider now owns 98,301 shares of the company’s stock, valued at approximately $2,919,539.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,780 shares of company stock valued at $1,342,186. Insiders own 0.24% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CNP. Norges Bank acquired a new position in CenterPoint Energy during the 4th quarter valued at approximately $146,903,000. FMR LLC boosted its position in CenterPoint Energy by 114.6% during the 4th quarter. FMR LLC now owns 6,472,243 shares of the utilities provider’s stock valued at $182,711,000 after purchasing an additional 3,456,131 shares during the period. Unigestion Holding SA boosted its position in CenterPoint Energy by 331.7% during the 2nd quarter. Unigestion Holding SA now owns 3,052,431 shares of the utilities provider’s stock valued at $87,391,000 after purchasing an additional 2,345,348 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in CenterPoint Energy during the 1st quarter valued at approximately $69,287,000. Finally, Ceredex Value Advisors LLC acquired a new position in CenterPoint Energy during the 1st quarter valued at approximately $42,417,000. Institutional investors and hedge funds own 78.39% of the company’s stock.

NYSE:CNP traded up $0.17 during mid-day trading on Wednesday, reaching $29.01. The company’s stock had a trading volume of 566,709 shares, compared to its average volume of 3,502,940. The stock’s fifty day moving average price is $29.08. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.97 and a current ratio of 1.09. CenterPoint Energy has a twelve month low of $26.74 and a twelve month high of $31.42. The company has a market cap of $14.52 billion, a PE ratio of 18.13, a P/E/G ratio of 3.35 and a beta of 0.48.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.06). The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.84 billion. CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. On average, equities analysts predict that CenterPoint Energy will post 1.64 earnings per share for the current fiscal year.

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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