CenterPoint Energy (NYSE:CNP) Price Target Cut to $47.00 by Analysts at BMO Capital Markets

CenterPoint Energy (NYSE:CNP) had its price objective reduced by BMO Capital Markets from $48.00 to $47.00 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

A number of other analysts also recently issued reports on the stock. BTIG Research began coverage on shares of CenterPoint Energy in a report on Tuesday, June 30th. They set a “neutral” rating for the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $48.00 price objective on shares of CenterPoint Energy in a report on Tuesday, April 21st. Barclays raised their price objective on CenterPoint Energy from $38.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Truist Financial cut their target price on CenterPoint Energy from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CenterPoint Energy in a research report on Monday, June 15th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.46.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $43.71 on Wednesday. CenterPoint Energy has a 52-week low of $36.59 and a 52-week high of $45.22. The business’s fifty day moving average is $43.06 and its 200 day moving average is $42.24. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.04 and a current ratio of 1.16. The firm has a market cap of $28.60 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 2.53 and a beta of 0.46.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a net margin of 11.38% and a return on equity of 10.56%. During the same quarter last year, the business posted $0.53 earnings per share. Research analysts predict that CenterPoint Energy will post 1.91 EPS for the current year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.2%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, August 20th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.44%.

Institutional Investors Weigh In On CenterPoint Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in shares of CenterPoint Energy by 49.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 235 shares in the last quarter. Focus Financial Network Inc. grew its stake in CenterPoint Energy by 4.9% in the second quarter. Focus Financial Network Inc. now owns 5,089 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 239 shares during the last quarter. Zacks Investment Management raised its holdings in CenterPoint Energy by 0.8% in the third quarter. Zacks Investment Management now owns 31,142 shares of the utilities provider’s stock worth $1,208,000 after purchasing an additional 256 shares in the last quarter. CX Institutional lifted its position in shares of CenterPoint Energy by 3.7% during the second quarter. CX Institutional now owns 7,643 shares of the utilities provider’s stock valued at $337,000 after buying an additional 275 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in shares of CenterPoint Energy by 16.1% in the 4th quarter. Salomon & Ludwin LLC now owns 2,226 shares of the utilities provider’s stock valued at $85,000 after buying an additional 308 shares in the last quarter. 91.77% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.