ValuEngine Downgrades CenterPoint Energy (CNP) to Sell

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ValuEngine downgraded shares of CenterPoint Energy (NYSE:CNP) from a hold rating to a sell rating in a report published on Wednesday, September 19th.

Several other research analysts have also weighed in on the company. Zacks Investment Research lowered CenterPoint Energy from a buy rating to a hold rating in a research report on Tuesday, August 7th. SunTrust Banks reiterated a hold rating and issued a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 6th. JPMorgan Chase & Co. upgraded CenterPoint Energy from a neutral rating to an overweight rating and set a $31.00 price target on the stock in a research note on Wednesday, September 5th. Finally, Bank of America upgraded CenterPoint Energy from an underperform rating to a neutral rating in a research note on Thursday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $29.25.

Shares of CNP stock traded up $0.19 during trading hours on Wednesday, reaching $27.34. The company had a trading volume of 6,715,801 shares, compared to its average volume of 4,712,918. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.83. The firm has a market capitalization of $11.93 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.92 and a beta of 0.44. CenterPoint Energy has a 12-month low of $24.81 and a 12-month high of $30.17.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Friday, August 3rd. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. CenterPoint Energy’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. On average, equities research analysts expect that CenterPoint Energy will post 1.61 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Stockholders of record on Thursday, August 16th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Wednesday, August 15th. CenterPoint Energy’s payout ratio is currently 81.02%.

In other news, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $27.99, for a total value of $111,960.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Milton Carroll sold 10,000 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total value of $282,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,000 shares of company stock worth $504,820. Insiders own 0.22% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Braun Bostich & Associates Inc. raised its stake in CenterPoint Energy by 1,372.0% in the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock valued at $115,000 after buying an additional 3,869 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new stake in CenterPoint Energy in the second quarter valued at $130,000. Signet Financial Management LLC raised its stake in CenterPoint Energy by 649.6% in the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock valued at $147,000 after buying an additional 4,612 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in CenterPoint Energy by 55.9% in the second quarter. Qube Research & Technologies Ltd now owns 8,042 shares of the utilities provider’s stock valued at $223,000 after buying an additional 2,882 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV grew its holdings in shares of CenterPoint Energy by 2,671.0% during the second quarter. Mainstay Capital Management LLC ADV now owns 8,313 shares of the utilities provider’s stock worth $300,000 after purchasing an additional 8,013 shares during the last quarter. Institutional investors own 77.39% of the company’s stock.

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.

Further Reading: Google Finance Portfolio Workaround

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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