CenterPoint Energy (CNP) – Analysts’ Weekly Ratings Updates

CenterPoint Energy (NYSE: CNP) has recently received a number of price target changes and ratings updates:

• 8/20/2024 – CenterPoint Energy had its price target lowered by analysts at Scotiabank from $29.00 to $28.00. They now have a “sector perform” rating on the stock.
• 8/17/2024 – CenterPoint Energy was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 8/13/2024 – CenterPoint Energy was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $28.00 price target on the stock, down previously from $32.00.
• 8/9/2024 – CenterPoint Energy was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 8/2/2024 – CenterPoint Energy was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating.
• 8/2/2024 – CenterPoint Energy was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $29.00 price target on the stock, down previously from $32.00.
• 8/2/2024 – CenterPoint Energy was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating. They now have a $28.00 price target on the stock, down previously from $31.00.
• 7/31/2024 – CenterPoint Energy had its price target lowered by analysts at BMO Capital Markets from $32.00 to $31.00. They now have an “outperform” rating on the stock.
• 7/31/2024 – CenterPoint Energy was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 7/23/2024 – CenterPoint Energy had its price target lowered by analysts at BMO Capital Markets from $33.00 to $32.00. They now have an “outperform” rating on the stock.
• 7/22/2024 – CenterPoint Energy had its price target lowered by analysts at KeyCorp from $33.00 to $31.00. They now have an “overweight” rating on the stock.
• 7/20/2024 – CenterPoint Energy was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 7/17/2024 – CenterPoint Energy was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $29.00 price target on the stock, down previously from $30.00.
• 7/12/2024 – CenterPoint Energy was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 6/26/2024 – CenterPoint Energy had its price target raised by analysts at BMO Capital Markets from $32.00 to $33.00. They now have an “outperform” rating on the stock.
• 6/24/2024 – CenterPoint Energy had its price target lowered by analysts at Morgan Stanley from $31.00 to $30.00. They now have an “overweight” rating on the stock.

CenterPoint Energy Trading Up 3.1 %

CenterPoint Energy stock traded up $0.80 during mid-day trading on Thursday, hitting $26.94. The company’s stock had a trading volume of 10,899,036 shares, compared to its average volume of 5,225,137. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 1.06. The stock has a market cap of $17.23 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 2.48 and a beta of 0.92. The business has a 50 day moving average price of $28.78 and a 200-day moving average price of $28.69. CenterPoint Energy, Inc. has a 12 month low of $25.41 and a 12 month high of $31.57.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the company earned $0.28 earnings per share. As a group, analysts forecast that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, August 15th. CenterPoint Energy’s payout ratio is 56.34%.

Hedge Funds Weigh In On CenterPoint Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its position in shares of CenterPoint Energy by 185.7% during the second quarter. Assenagon Asset Management S.A. now owns 235,223 shares of the utilities provider’s stock valued at $7,287,000 after buying an additional 152,878 shares during the period. FORA Capital LLC purchased a new stake in CenterPoint Energy in the first quarter worth about $1,625,000. Bank of Nova Scotia grew its holdings in CenterPoint Energy by 24.5% in the fourth quarter. Bank of Nova Scotia now owns 305,736 shares of the utilities provider’s stock worth $8,735,000 after purchasing an additional 60,223 shares during the period. Duality Advisers LP grew its holdings in CenterPoint Energy by 837.7% in the first quarter. Duality Advisers LP now owns 210,064 shares of the utilities provider’s stock worth $5,985,000 after purchasing an additional 187,662 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of CenterPoint Energy in the first quarter worth approximately $1,109,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

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.