Analysts Set CenterPoint Energy, Inc. (NYSE:CNP) Price Target at $41.82

Shares of CenterPoint Energy, Inc. (NYSE:CNP) have received an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $41.8182.

Several equities analysts recently commented on CNP shares. Scotiabank increased their price objective on shares of CenterPoint Energy from $42.00 to $45.00 and gave the company a “sector outperform” rating in a research report on Friday, October 24th. KeyCorp upgraded shares of CenterPoint Energy from a “sector weight” rating to an “overweight” rating and set a $41.00 price target on the stock in a research note on Friday, December 12th. BMO Capital Markets raised shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Tuesday, January 13th. Morgan Stanley reiterated an “underperform” rating and set a $37.00 price objective on shares of CenterPoint Energy in a research note on Wednesday, January 21st. Finally, Mizuho set a $42.00 price objective on shares of CenterPoint Energy in a report on Tuesday, October 21st.

CenterPoint Energy Price Performance

NYSE CNP opened at $40.97 on Friday. The firm’s fifty day simple moving average is $38.76 and its two-hundred day simple moving average is $38.78. The firm has a market capitalization of $26.75 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.38 and a beta of 0.59. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 1.76. CenterPoint Energy has a 12-month low of $31.95 and a 12-month high of $41.09.

CenterPoint Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, February 19th. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.22. CenterPoint Energy’s dividend payout ratio (DPR) is presently 55.70%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Cibc World Market Inc. purchased a new stake in CenterPoint Energy in the fourth quarter valued at approximately $1,917,000. Transatlantique Private Wealth LLC lifted its stake in CenterPoint Energy by 49.0% during the 4th quarter. Transatlantique Private Wealth LLC now owns 13,482 shares of the utilities provider’s stock valued at $517,000 after acquiring an additional 4,432 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of CenterPoint Energy by 68.7% in the 4th quarter. CIBC Asset Management Inc now owns 155,531 shares of the utilities provider’s stock valued at $5,963,000 after acquiring an additional 63,332 shares during the last quarter. Fiduciary Family Office LLC increased its stake in shares of CenterPoint Energy by 1.1% in the fourth quarter. Fiduciary Family Office LLC now owns 36,158 shares of the utilities provider’s stock worth $1,386,000 after acquiring an additional 393 shares during the period. Finally, Dynasty Wealth Management LLC raised its holdings in shares of CenterPoint Energy by 4.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 51,305 shares of the utilities provider’s stock worth $1,967,000 after purchasing an additional 2,299 shares during the last quarter. 91.77% of the stock is currently 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.