CenterPoint Energy, Inc. (NYSE:CNP) has been given a $30.00 price target by equities researchers at J P Morgan Chase & Co in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the utilities provider’s stock. J P Morgan Chase & Co’s price objective would indicate a potential upside of 2.35% from the company’s current price.
CNP has been the topic of several other research reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 target price on shares of CenterPoint Energy in a report on Monday, September 11th. Credit Suisse Group raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and increased their target price for the company from $28.82 to $29.00 in a report on Monday, August 14th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $30.00 target price on shares of CenterPoint Energy in a report on Monday, October 2nd. BidaskClub raised shares of CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Finally, Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $28.13.
Shares of CenterPoint Energy (CNP) traded up 1.33% during mid-day trading on Thursday, hitting $29.70. 863,527 shares of the company traded hands. The firm’s 50 day moving average price is $29.56 and its 200-day moving average price is $28.46. The stock has a market capitalization of $12.80 billion, a PE ratio of 21.21 and a beta of 0.62. CenterPoint Energy has a 1-year low of $21.91 and a 1-year high of $30.45.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up 36.1% compared to the same quarter last year. On average, equities research analysts forecast that CenterPoint Energy will post $1.33 EPS for the current year.
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In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders sold 3,000 shares of company stock worth $86,920. Insiders own 0.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in CenterPoint Energy by 1,521.6% in the 1st quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock worth $1,076,193,000 after acquiring an additional 36,627,665 shares during the last quarter. Federated Investors Inc. PA grew its holdings in CenterPoint Energy by 160.1% in the 2nd quarter. Federated Investors Inc. PA now owns 84,599 shares of the utilities provider’s stock worth $2,316,000 after acquiring an additional 52,078 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in CenterPoint Energy in the 2nd quarter worth $5,476,000. Aviva PLC grew its holdings in CenterPoint Energy by 0.4% in the 2nd quarter. Aviva PLC now owns 265,720 shares of the utilities provider’s stock worth $7,278,000 after acquiring an additional 1,070 shares during the last quarter. Finally, Swiss National Bank grew its holdings in CenterPoint Energy by 2.8% in the 2nd quarter. Swiss National Bank now owns 1,490,722 shares of the utilities provider’s stock worth $40,816,000 after acquiring an additional 41,000 shares during the last quarter. 76.87% of the stock is currently owned by institutional investors and hedge funds.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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