CenterPoint Energy (NYSE:CNP – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $1.36-$1.38 for the period, compared to the consensus EPS estimate of $1.37. The company issued revenue guidance of -.
A number of research firms have recently commented on CNP. BMO Capital Markets raised CenterPoint Energy from a market perform rating to an outperform rating and upped their target price for the company from $27.00 to $31.00 in a research note on Monday, January 10th. Citigroup increased their price objective on CenterPoint Energy from $26.00 to $29.00 and gave the stock a neutral rating in a research note on Wednesday, February 23rd. The Goldman Sachs Group cut CenterPoint Energy from a buy rating to a neutral rating and dropped their price objective for the stock from $31.00 to $30.00 in a research note on Thursday, January 13th. UBS Group upgraded CenterPoint Energy from a neutral rating to a buy rating and upped their target price for the stock from $27.00 to $30.00 in a report on Tuesday, February 15th. Finally, Credit Suisse Group initiated coverage on CenterPoint Energy in a report on Monday, April 25th. They set an outperform rating and a $34.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, CenterPoint Energy presently has a consensus rating of Buy and a consensus price target of $31.07.
CenterPoint Energy stock traded down $0.20 during midday trading on Tuesday, reaching $30.18. The company had a trading volume of 259,670 shares, compared to its average volume of 5,188,209. The company has a market capitalization of $19.00 billion, a P/E ratio of 12.06, a P/E/G ratio of 5.72 and a beta of 0.88. CenterPoint Energy has a 12-month low of $23.58 and a 12-month high of $33.00. The firm’s fifty day simple moving average is $30.51 and its 200-day simple moving average is $28.35. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 1.57.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Thursday, May 19th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, May 18th. CenterPoint Energy’s payout ratio is presently 26.98%.
Several hedge funds have recently added to or reduced their stakes in CNP. KB Financial Partners LLC purchased a new stake in shares of CenterPoint Energy during the 4th quarter valued at approximately $34,000. Ulland Investment Advisors LLC acquired a new stake in CenterPoint Energy in the 4th quarter valued at approximately $53,000. Segall Bryant & Hamill LLC acquired a new stake in CenterPoint Energy in the 4th quarter valued at approximately $208,000. NEXT Financial Group Inc increased its holdings in CenterPoint Energy by 244.4% in the 4th quarter. NEXT Financial Group Inc now owns 15,364 shares of the utilities provider’s stock valued at $429,000 after purchasing an additional 10,903 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in shares of CenterPoint Energy by 15.0% in the fourth quarter. Synovus Financial Corp now owns 16,904 shares of the utilities provider’s stock worth $466,000 after acquiring an additional 2,202 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.
About CenterPoint Energy (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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