CenterPoint Energy, Inc. (NYSE:CNP) Receives Average Recommendation of “Buy” from Brokerages

Shares of CenterPoint Energy, Inc. (NYSE:CNPGet Rating) have been given an average rating of “Buy” by the eighteen ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.07.

CNP has been the subject of several recent research reports. StockNews.com initiated coverage on shares of CenterPoint Energy in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Morgan Stanley raised their price objective on shares of CenterPoint Energy from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Citigroup raised their price objective on shares of CenterPoint Energy from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, February 23rd. Wells Fargo & Company raised their price objective on shares of CenterPoint Energy from $31.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, April 19th. Finally, UBS Group raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $27.00 to $30.00 in a research note on Tuesday, February 15th.

Shares of CNP traded up $0.55 during trading on Tuesday, reaching $30.77. 166,360 shares of the company traded hands, compared to its average volume of 5,087,351. CenterPoint Energy has a twelve month low of $23.58 and a twelve month high of $33.00. The stock has a market cap of $19.37 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 5.81 and a beta of 0.88. The stock has a 50-day simple moving average of $30.12 and a 200-day simple moving average of $28.20. The company has a quick ratio of 1.57, a current ratio of 1.72 and a debt-to-equity ratio of 1.80.

CenterPoint Energy (NYSE:CNPGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). CenterPoint Energy had a net margin of 17.79% and a return on equity of 14.46%. During the same quarter last year, the firm earned $0.59 EPS. On average, equities research analysts predict that CenterPoint Energy will post 1.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, May 18th. This represents a $0.68 dividend on an annualized basis and a yield of 2.21%. CenterPoint Energy’s payout ratio is currently 30.09%.

A number of hedge funds have recently added to or reduced their stakes in CNP. Morgan Stanley increased its holdings in shares of CenterPoint Energy by 113.6% in the 2nd quarter. Morgan Stanley now owns 1,822,550 shares of the utilities provider’s stock valued at $44,689,000 after acquiring an additional 969,280 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of CenterPoint Energy by 22.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 72,855 shares of the utilities provider’s stock valued at $1,792,000 after acquiring an additional 13,165 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of CenterPoint Energy by 58.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 194,437 shares of the utilities provider’s stock valued at $4,783,000 after acquiring an additional 71,790 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of CenterPoint Energy by 4.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 79,978 shares of the utilities provider’s stock valued at $1,967,000 after acquiring an additional 3,612 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of CenterPoint Energy by 5.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 34,794 shares of the utilities provider’s stock valued at $856,000 after acquiring an additional 1,923 shares during the period. 90.98% of the stock is currently owned by institutional investors.

CenterPoint Energy Company Profile (Get Rating)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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