CenterPoint Energy, Inc. (NYSE:CNP) Receives $31.31 Average Price Target from Brokerages

CenterPoint Energy, Inc. (NYSE:CNPGet Rating) has been given a consensus recommendation of “Buy” by the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $31.31.

Several research firms have recently weighed in on CNP. Wells Fargo & Company upped their price target on shares of CenterPoint Energy from $31.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, April 19th. KeyCorp upped their price target on shares of CenterPoint Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, April 20th. UBS Group raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $27.00 to $30.00 in a report on Tuesday, February 15th. Morgan Stanley decreased their price target on shares of CenterPoint Energy from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Finally, Citigroup upped their price target on shares of CenterPoint Energy from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, February 23rd.

Shares of NYSE:CNP traded up $0.44 during trading on Friday, hitting $32.42. 3,395,068 shares of the company were exchanged, compared to its average volume of 5,091,237. The company has a market cap of $20.41 billion, a PE ratio of 12.87, a P/E/G ratio of 5.72 and a beta of 0.88. The stock has a 50 day moving average of $31.18 and a 200 day moving average of $28.78. CenterPoint Energy has a 52-week low of $24.23 and a 52-week high of $33.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.80.

CenterPoint Energy (NYSE:CNPGet Rating) last posted its earnings results on Tuesday, May 3rd. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations 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 prior year, the company earned $0.59 EPS. Sell-side analysts forecast that CenterPoint Energy will post 1.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Thursday, May 19th will be paid 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 dividend yield of 2.10%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 26.98%.

Several large investors have recently made changes to their positions in CNP. Morgan Stanley grew its stake in shares of CenterPoint Energy by 113.6% during the second quarter. Morgan Stanley now owns 1,822,550 shares of the utilities provider’s stock valued at $44,689,000 after buying an additional 969,280 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of CenterPoint Energy by 2.3% during the third quarter. Goldman Sachs Group Inc. now owns 2,338,285 shares of the utilities provider’s stock valued at $57,522,000 after buying an additional 51,545 shares during the last quarter. American Century Companies Inc. grew its stake in shares of CenterPoint Energy by 86.8% during the third quarter. American Century Companies Inc. now owns 154,434 shares of the utilities provider’s stock valued at $3,799,000 after buying an additional 71,769 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of CenterPoint Energy by 6.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 31,569 shares of the utilities provider’s stock valued at $777,000 after buying an additional 1,790 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of CenterPoint Energy by 9.9% during the third quarter. Public Sector Pension Investment Board now owns 99,999 shares of the utilities provider’s stock worth $2,460,000 after purchasing an additional 9,000 shares during the period. 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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Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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