CenterPoint Energy, Inc. (NYSE:CNP) Given Average Rating of “Hold” by Brokerages

Shares of CenterPoint Energy, Inc. (NYSE:CNP) have earned an average rating of “Hold” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $41.8182.

A number of brokerages have recently issued reports on CNP. KeyCorp raised shares of CenterPoint Energy from a “sector weight” rating to an “overweight” rating and set a $41.00 price objective for the company in a research note on Friday, December 12th. Morgan Stanley reissued an “underperform” rating and set a $37.00 price target on shares of CenterPoint Energy in a report on Wednesday, January 21st. Weiss Ratings restated a “buy (b-)” rating on shares of CenterPoint Energy in a research report on Monday, December 29th. Wells Fargo & Company increased their target price on CenterPoint Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. decreased their target price on CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th.

CenterPoint Energy Stock Down 0.3%

CNP stock opened at $40.22 on Friday. The business’s 50-day moving average price is $38.68 and its 200-day moving average price is $38.70. The stock has a market cap of $26.26 billion, a P/E ratio of 25.46, a PEG ratio of 2.39 and a beta of 0.59. The company has a quick ratio of 0.38, a current ratio of 0.51 and a debt-to-equity ratio of 1.76. CenterPoint Energy has a twelve month low of $31.95 and a twelve month high of $40.80.

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 19th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.3%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, February 19th. CenterPoint Energy’s payout ratio is presently 55.70%.

Institutional Trading of CenterPoint Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intrua Financial LLC boosted its holdings in shares of CenterPoint Energy by 30.7% during the 4th quarter. Intrua Financial LLC now owns 9,903 shares of the utilities provider’s stock valued at $380,000 after purchasing an additional 2,327 shares during the last quarter. North Dakota State Investment Board bought a new stake in shares of CenterPoint Energy in the fourth quarter worth about $857,000. Elyxium Wealth LLC purchased a new stake in shares of CenterPoint Energy in the fourth quarter worth about $125,000. Beese Fulmer Investment Management Inc. boosted its stake in CenterPoint Energy by 100.2% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 12,100 shares of the utilities provider’s stock valued at $464,000 after buying an additional 6,057 shares during the last quarter. Finally, Accredited Investors Inc. bought a new position in CenterPoint Energy during the fourth quarter valued at approximately $263,000. 91.77% of the stock is currently owned by 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.