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

CenterPoint Energy (NYSE:CNP) had its price objective boosted by KeyCorp from $41.00 to $47.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other analysts have also issued research reports about the company. Wall Street Zen raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Barclays decreased their target price on shares of CenterPoint Energy from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. JPMorgan Chase & Co. lowered their price target on shares of CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, December 11th. Citigroup reissued a “neutral” rating on shares of CenterPoint Energy in a report on Thursday, February 19th. Finally, Morgan Stanley restated an “underperform” rating and issued a $37.00 price objective on shares of CenterPoint Energy in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.55.

CenterPoint Energy Trading Up 0.6%

NYSE CNP opened at $43.66 on Wednesday. CenterPoint Energy has a 1-year low of $33.28 and a 1-year high of $44.04. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84. The stock has a 50-day moving average of $40.48 and a 200-day moving average of $39.31. The firm has a market cap of $28.56 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.58.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, February 19th. The utilities provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). CenterPoint Energy had a net margin of 11.24% and a return on equity of 10.46%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.900- EPS. As a group, sell-side analysts forecast that CenterPoint Energy will post 1.75 EPS for the current year.

CenterPoint Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, February 19th. CenterPoint Energy’s payout ratio is presently 57.50%.

Institutional Trading of CenterPoint Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNP. Brighton Jones LLC bought a new position in CenterPoint Energy in the 4th quarter worth $254,000. AQR Capital Management LLC boosted its stake in shares of CenterPoint Energy by 15.6% during the 1st quarter. AQR Capital Management LLC now owns 76,100 shares of the utilities provider’s stock valued at $2,757,000 after purchasing an additional 10,277 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CenterPoint Energy by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,683 shares of the utilities provider’s stock valued at $2,525,000 after purchasing an additional 3,821 shares in the last quarter. Empowered Funds LLC increased its position in shares of CenterPoint Energy by 11.5% during the first quarter. Empowered Funds LLC now owns 13,411 shares of the utilities provider’s stock valued at $486,000 after buying an additional 1,384 shares during the period. Finally, Woodline Partners LP increased its position in shares of CenterPoint Energy by 40.7% during the first quarter. Woodline Partners LP now owns 55,061 shares of the utilities provider’s stock valued at $1,995,000 after buying an additional 15,922 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

About CenterPoint Energy

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.