CenterPoint Energy, Inc. (CNP) – What Are Analysts Thinking About This Stock?

Shares of CenterPoint Energy, Inc. (NYSE:CNP) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $44.29.

Several research firms have issued reports on CNP. Royal Bank Of Canada initiated coverage on CenterPoint Energy in a report on Tuesday, September 15th. They set a “sector perform” rating and a $40.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of CenterPoint Energy in a research note on Friday, September 11th. Mizuho set a $43.00 target price on shares of CenterPoint Energy in a research note on Wednesday, October 28th. KeyCorp lowered their target price on shares of CenterPoint Energy from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CenterPoint Energy from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th.

Institutional Investors Weigh In On CenterPoint Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG acquired a new position in shares of CenterPoint Energy during the 2nd quarter worth about $770,871,000. Bank of America Corp DE bought a new stake in shares of CenterPoint Energy in the 2nd quarter valued at about $332,753,000. Pictet Asset Management Holding SA increased its stake in shares of CenterPoint Energy by 10.8% in the 3rd quarter. Pictet Asset Management Holding SA now owns 7,195,979 shares of the utilities provider’s stock valued at $264,812,000 after acquiring an additional 701,167 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of CenterPoint Energy in the 2nd quarter valued at approximately $250,273,000. Finally, GQG Partners LLC acquired a new stake in shares of CenterPoint Energy in the 2nd quarter valued at approximately $176,574,000. Institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Trading Down 0.1%

Shares of CNP opened at $40.97 on Friday. The stock has a fifty day moving average price of $39.49 and a two-hundred day moving average price of $41.62. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.97 and a current ratio of 1.15. CenterPoint Energy has a 52-week low of $36.37 and a 52-week high of $45.26. The company has a market cap of $27.16 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.71 and a beta of 0.43.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.17 billion. CenterPoint Energy had a net margin of 11.76% and a return on equity of 11.16%. During the same quarter last year, the company posted $0.50 EPS. Analysts predict that CenterPoint Energy will post 1.91 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. CenterPoint Energy’s payout ratio is 54.86%.

About CenterPoint Energy

CenterPoint Energy, Inc. is a regulated energy delivery company based in Houston, Texas. Its main businesses are electric transmission and distribution and natural gas distribution, connecting customers to energy and maintaining the infrastructure that delivers it. The company’s electric utility operations serve the Houston area, while its natural gas utilities serve customers in Texas, Indiana, Minnesota and Ohio. CenterPoint Energy’s services include operating and maintaining power lines, gas distribution systems and related utility infrastructure.