CenterPoint Energy (NYSE:CNP) Price Target Raised to $30.00

CenterPoint Energy (NYSE:CNP) had its target price raised by equities research analysts at Barclays from $29.00 to $30.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the utilities provider’s stock. Barclays‘s price target points to a potential downside of 7.57% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Morgan Stanley decreased their price target on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Guggenheim cut CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Thursday. Wells Fargo & Company upped their price target on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, UBS Group upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $31.00 to $37.00 in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.46.

CenterPoint Energy Price Performance

Shares of NYSE:CNP opened at $32.46 on Monday. The company’s 50-day moving average is $31.95 and its 200 day moving average is $29.70. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.92 and a current ratio of 1.11. The company has a market capitalization of $21.15 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 2.61 and a beta of 0.95. CenterPoint Energy has a fifty-two week low of $25.41 and a fifty-two week high of $33.12.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, equities research analysts forecast that CenterPoint Energy will post 1.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CNP. MBB Public Markets I LLC bought a new position in CenterPoint Energy during the second quarter valued at approximately $1,394,000. Kimelman & Baird LLC purchased a new stake in shares of CenterPoint Energy during the second quarter valued at approximately $43,000. Truist Financial Corp boosted its stake in shares of CenterPoint Energy by 32.7% during the second quarter. Truist Financial Corp now owns 79,876 shares of the utilities provider’s stock valued at $2,475,000 after purchasing an additional 19,686 shares during the period. Heartland Bank & Trust Co boosted its stake in shares of CenterPoint Energy by 4.5% during the second quarter. Heartland Bank & Trust Co now owns 11,571 shares of the utilities provider’s stock valued at $358,000 after purchasing an additional 493 shares during the period. Finally, Cetera Investment Advisers boosted its stake in shares of CenterPoint Energy by 3.3% during the second quarter. Cetera Investment Advisers now owns 91,197 shares of the utilities provider’s stock valued at $2,825,000 after purchasing an additional 2,871 shares during the period. 91.77% of the stock is currently owned by institutional investors.

About CenterPoint Energy

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.