Royal Bank Of Canada reaffirmed their hold rating on shares of CenterPoint Energy, Inc. (NYSE:CNP) in a research report report published on Monday, September 11th. They currently have a $29.00 price objective on the utilities provider’s stock.
A number of other brokerages have also commented on CNP. BidaskClub lowered CenterPoint Energy from a buy rating to a hold rating in a research report on Tuesday, June 13th. J P Morgan Chase & Co initiated coverage on CenterPoint Energy in a research report on Thursday, June 29th. They set a neutral rating and a $29.00 target price for the company. Zacks Investment Research lowered CenterPoint Energy from a buy rating to a hold rating in a research report on Thursday, June 15th. Finally, Credit Suisse Group upgraded CenterPoint Energy from an underperform rating to a neutral rating and lifted their price objective for the company from $28.82 to $29.00 in a report on Monday, August 14th. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $27.89.
Shares of CenterPoint Energy (NYSE CNP) opened at 29.49 on Monday. CenterPoint Energy has a 52 week low of $21.83 and a 52 week high of $30.45. The stock has a market cap of $12.71 billion, a PE ratio of 21.06 and a beta of 0.63. The company’s 50-day moving average is $29.40 and its 200 day moving average is $28.29.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue was up 36.1% on a year-over-year basis. Analysts forecast that CenterPoint Energy will post $1.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th were issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Monday, August 14th. CenterPoint Energy’s dividend payout ratio is 76.98%.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $29.61, for a total transaction of $29,610.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 3,000 shares of company stock valued at $85,500. Corporate insiders own 0.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in CNP. Nationwide Fund Advisors lifted its position in shares of CenterPoint Energy by 3.3% during the 1st quarter. Nationwide Fund Advisors now owns 121,056 shares of the utilities provider’s stock worth $3,338,000 after buying an additional 3,841 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of CenterPoint Energy by 94.0% during the 1st quarter. Wells Fargo & Company MN now owns 1,345,856 shares of the utilities provider’s stock worth $37,105,000 after buying an additional 652,141 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in CenterPoint Energy by 91.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 61,108 shares of the utilities provider’s stock valued at $1,715,000 after purchasing an additional 29,144 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in CenterPoint Energy by 15.2% in the first quarter. Xact Kapitalforvaltning AB now owns 37,518 shares of the utilities provider’s stock valued at $1,034,000 after purchasing an additional 4,938 shares during the last quarter. Finally, Swiss National Bank raised its position in CenterPoint Energy by 28.1% in the first quarter. Swiss National Bank now owns 1,449,722 shares of the utilities provider’s stock valued at $39,969,000 after purchasing an additional 318,200 shares during the last quarter. Institutional investors and hedge funds own 76.87% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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