Analysts Set CenterPoint Energy, Inc. (CNP) Target Price at $29.13

Shares of CenterPoint Energy, Inc. (NYSE:CNP) have been given a consensus recommendation of “Hold” by the twelve analysts that are covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $29.13.

Several analysts have weighed in on CNP shares. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. JPMorgan Chase & Co. set a $30.00 price objective on CenterPoint Energy and gave the company a “hold” rating in a report on Thursday, October 12th. Citigroup boosted their price objective on CenterPoint Energy from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, November 20th. SunTrust Banks reissued a “hold” rating and issued a $30.00 price objective on shares of CenterPoint Energy in a report on Monday, October 2nd. Finally, Bank of America initiated coverage on CenterPoint Energy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $30.00 price objective for the company.

CenterPoint Energy (NYSE:CNP) traded down $0.12 during trading on Tuesday, reaching $27.87. The company’s stock had a trading volume of 4,535,125 shares, compared to its average volume of 3,795,456. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08. The stock has a market cap of $12,010.00, a P/E ratio of 20.20, a PEG ratio of 3.46 and a beta of 0.62. CenterPoint Energy has a twelve month low of $24.74 and a twelve month high of $30.45.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. CenterPoint Energy had a return on equity of 16.00% and a net margin of 6.59%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. analysts expect that CenterPoint Energy will post 1.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, February 14th. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s payout ratio is 77.54%.

In other news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $29.39, for a total value of $29,390.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 3,000 shares of company stock valued at $87,110. Insiders own 0.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC raised its holdings in CenterPoint Energy by 7.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,719,131 shares of the utilities provider’s stock worth $50,216,000 after purchasing an additional 114,428 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in CenterPoint Energy in the 3rd quarter worth about $578,000. Moors & Cabot Inc. raised its holdings in CenterPoint Energy by 5.1% in the 3rd quarter. Moors & Cabot Inc. now owns 45,587 shares of the utilities provider’s stock worth $1,338,000 after purchasing an additional 2,202 shares during the period. Cetera Advisor Networks LLC acquired a new position in CenterPoint Energy in the 3rd quarter worth about $206,000. Finally, Dana Investment Advisors Inc. raised its holdings in CenterPoint Energy by 1.0% in the 3rd quarter. Dana Investment Advisors Inc. now owns 516,404 shares of the utilities provider’s stock worth $15,084,000 after purchasing an additional 5,187 shares during the period. 77.70% of the stock is owned by institutional investors.

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CenterPoint Energy Company Profile

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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