CenterPoint Energy Inc. (NYSE:CNP) had its price target boosted by SunTrust Banks Inc. from $24.00 to $25.00 in a research report issued on Monday. The brokerage currently has a “neutral” rating on the stock. SunTrust Banks Inc.’s price objective points to a potential upside of 4.69% from the company’s current price.
CNP has been the subject of several other research reports. RBC Capital Markets set a $26.00 price objective on shares of CenterPoint Energy and gave the company a “buy” rating in a research note on Monday, August 8th. Wells Fargo & Co. cut shares of CenterPoint Energy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 22nd. Argus reissued a “buy” rating and issued a $28.00 price target (up previously from $26.00) on shares of CenterPoint Energy in a research note on Friday, July 1st. Deutsche Bank AG cut their price target on shares of CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating for the company in a research note on Monday, August 8th. Finally, TheStreet cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $22.68.
Shares of CenterPoint Energy (NYSE:CNP) opened at 23.88 on Monday. The stock’s 50 day moving average is $22.94 and its 200 day moving average is $22.51. The firm’s market capitalization is $10.28 billion. CenterPoint Energy has a 52-week low of $16.05 and a 52-week high of $24.71.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by $0.03. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.62 billion. CenterPoint Energy had a negative net margin of 10.72% and a positive return on equity of 13.48%. CenterPoint Energy’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. On average, equities research analysts forecast that CenterPoint Energy will post $1.15 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 16th were issued a dividend of $0.2575 per share. The ex-dividend date was Friday, August 12th. This represents a $1.03 dividend on an annualized basis and a yield of 4.31%. CenterPoint Energy’s dividend payout ratio is currently -59.20%.
Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC raised its stake in CenterPoint Energy by 228.5% in the second quarter. Advisory Services Network LLC now owns 5,145 shares of the company’s stock worth $123,000 after buying an additional 3,579 shares in the last quarter. Washington Trust Bank raised its stake in CenterPoint Energy by 133.7% in the second quarter. Washington Trust Bank now owns 5,384 shares of the company’s stock worth $129,000 after buying an additional 3,080 shares in the last quarter. Assetmark Inc. purchased a new stake in CenterPoint Energy during the second quarter worth approximately $133,000. Pacer Advisors Inc. raised its stake in CenterPoint Energy by 10.4% in the second quarter. Pacer Advisors Inc. now owns 7,293 shares of the company’s stock worth $175,000 after buying an additional 685 shares in the last quarter. Finally, Invictus RG purchased a new stake in CenterPoint Energy during the first quarter worth approximately $204,000. Institutional investors own 77.05% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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