CenterPoint Energy (NYSE:CNP) PT Lowered to $33.00

CenterPoint Energy (NYSE:CNPGet Rating) had its target price dropped by analysts at Morgan Stanley from $34.00 to $33.00 in a research note issued to investors on Monday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 6.76% from the company’s previous close.

A number of other research firms have also recently commented on CNP. StockNews.com raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Mizuho lifted their price target on shares of CenterPoint Energy from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, April 6th. Wells Fargo & Company upped their target price on shares of CenterPoint Energy from $31.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, April 19th. UBS Group upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $27.00 to $30.00 in a research report on Tuesday, February 15th. Finally, Credit Suisse Group initiated coverage on CenterPoint Energy in a research report on Monday, April 25th. They set an “outperform” rating and a $34.00 price objective for the company. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $31.00.

CenterPoint Energy stock traded up $0.33 during mid-day trading on Monday, hitting $30.91. The company had a trading volume of 69,458 shares, compared to its average volume of 5,155,792. The stock’s 50 day moving average price is $30.91 and its two-hundred day moving average price is $28.63. The company has a current ratio of 0.91, a quick ratio of 0.80 and a debt-to-equity ratio of 1.32. CenterPoint Energy has a 12 month low of $24.23 and a 12 month high of $33.00. The company has a market capitalization of $19.46 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 5.72 and a beta of 0.88.

CenterPoint Energy (NYSE:CNPGet Rating) last released its earnings results on Tuesday, May 3rd. The utilities provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.55 billion. CenterPoint Energy had a return on equity of 12.10% and a net margin of 19.30%. During the same quarter in the previous year, the business posted $0.59 EPS. Equities research analysts anticipate that CenterPoint Energy will post 1.38 EPS for the current year.

Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in CenterPoint Energy by 12.0% in the fourth quarter. BlackRock Inc. now owns 62,536,247 shares of the utilities provider’s stock valued at $1,745,384,000 after purchasing an additional 6,679,825 shares during the last quarter. Capital Research Global Investors raised its position in shares of CenterPoint Energy by 30.4% in the 3rd quarter. Capital Research Global Investors now owns 26,966,939 shares of the utilities provider’s stock worth $663,387,000 after buying an additional 6,279,070 shares during the period. JPMorgan Chase & Co. boosted its holdings in CenterPoint Energy by 32.6% in the fourth quarter. JPMorgan Chase & Co. now owns 20,235,985 shares of the utilities provider’s stock valued at $564,785,000 after acquiring an additional 4,973,550 shares during the last quarter. abrdn plc grew its position in CenterPoint Energy by 1,196.3% during the fourth quarter. abrdn plc now owns 4,655,257 shares of the utilities provider’s stock valued at $129,928,000 after acquiring an additional 4,296,140 shares during the period. Finally, Norges Bank acquired a new stake in CenterPoint Energy during the fourth quarter worth about $119,608,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

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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