CenterPoint Energy (NYSE:CNP) Price Target Lowered to $29.00 at Scotiabank

CenterPoint Energy (NYSE:CNP) had its target price decreased by Scotiabank from $31.00 to $29.00 in a report issued on Monday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the utilities provider’s stock.

A number of other research firms also recently weighed in on CNP. Barclays raised their price target on CenterPoint Energy from $28.00 to $29.00 and gave the company an underweight rating in a research report on Thursday, March 14th. KeyCorp lifted their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the company an overweight rating in a research report on Thursday, January 4th. Mizuho reaffirmed a neutral rating and set a $29.00 price objective (down from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Guggenheim dropped their price target on CenterPoint Energy from $33.00 to $32.00 and set a buy rating on the stock in a research report on Wednesday, February 21st. Finally, Evercore ISI cut CenterPoint Energy from an outperform rating to an in-line rating and boosted their price target for the stock from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $30.18.

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $28.78 on Monday. The firm has a market capitalization of $18.22 billion, a P/E ratio of 21.16, a PEG ratio of 2.51 and a beta of 0.92. CenterPoint Energy has a one year low of $25.42 and a one year high of $31.43. The business has a fifty day moving average price of $27.93 and a 200-day moving average price of $27.97. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.78 and a quick ratio of 0.58.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.83 billion. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same quarter last year, the company earned $0.28 earnings per share. As a group, equities research analysts forecast that CenterPoint Energy will post 1.62 EPS for the current year.

Institutional Investors Weigh In On CenterPoint Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. boosted its holdings in CenterPoint Energy by 0.7% in the 3rd quarter. Moors & Cabot Inc. now owns 52,633 shares of the utilities provider’s stock worth $1,413,000 after buying an additional 368 shares during the period. Cornercap Investment Counsel Inc. lifted its holdings in shares of CenterPoint Energy by 1.0% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 40,811 shares of the utilities provider’s stock valued at $1,166,000 after acquiring an additional 406 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of CenterPoint Energy by 4.2% in the 3rd quarter. Checchi Capital Advisers LLC now owns 10,505 shares of the utilities provider’s stock valued at $282,000 after acquiring an additional 428 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of CenterPoint Energy by 3.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 13,224 shares of the utilities provider’s stock valued at $377,000 after acquiring an additional 447 shares during the last quarter. Finally, CWM LLC raised its position in CenterPoint Energy by 4.5% in the 1st quarter. CWM LLC now owns 10,872 shares of the utilities provider’s stock worth $310,000 after purchasing an additional 464 shares during the period. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

CenterPoint Energy Company Profile

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