CenterPoint Energy (NYSE:CNP) Price Target Raised to $47.00

CenterPoint Energy (NYSE:CNP) had its target price lifted by JPMorgan Chase & Co. from $45.00 to $47.00 in a research note released on Thursday morning,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on CNP. Truist Financial cut their price target on CenterPoint Energy from $48.00 to $47.00 and set a “buy” rating for the company in a report on Monday, May 18th. BTIG Research began coverage on shares of CenterPoint Energy in a report on Tuesday, June 30th. They issued a “neutral” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of CenterPoint Energy in a research report on Monday, June 15th. Bank of America raised their target price on shares of CenterPoint Energy from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group set a $50.00 target price on shares of CenterPoint Energy in a report on Thursday, June 18th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CenterPoint Energy presently has an average rating of “Hold” and an average price target of $45.31.

CenterPoint Energy Price Performance

NYSE:CNP opened at $43.13 on Thursday. CenterPoint Energy has a 12-month low of $36.59 and a 12-month high of $45.22. The firm has a market capitalization of $28.22 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.56 and a beta of 0.46. The stock’s 50 day moving average price is $43.01 and its two-hundred day moving average price is $42.12. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 1.96.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, April 23rd. The utilities provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.02). The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.During the same quarter in the prior year, the firm posted $0.53 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, analysts anticipate that CenterPoint Energy will post 1.91 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.23. CenterPoint Energy’s payout ratio is currently 56.44%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of CenterPoint Energy by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 82,381,128 shares of the utilities provider’s stock valued at $3,158,492,000 after acquiring an additional 719,803 shares during the period. T. Rowe Price Investment Management Inc. increased its position in CenterPoint Energy by 13.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider’s stock worth $2,234,712,000 after acquiring an additional 6,794,535 shares during the period. Capital Research Global Investors increased its position in CenterPoint Energy by 1.1% during the fourth quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock worth $802,916,000 after acquiring an additional 235,346 shares during the period. Geode Capital Management LLC raised its stake in CenterPoint Energy by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 17,023,720 shares of the utilities provider’s stock worth $650,189,000 after purchasing an additional 166,305 shares in the last quarter. Finally, Norges Bank acquired a new stake in CenterPoint Energy in the 4th quarter worth about $343,925,000. Institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.