CenterPoint Energy, Inc. (NYSE:CNP – Get Free Report)’s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $41.47 and traded as high as $42.17. CenterPoint Energy shares last traded at $41.9530, with a volume of 13,557,526 shares trading hands.
Analyst Upgrades and Downgrades
CNP has been the topic of several analyst reports. KeyCorp reduced their price target on shares of CenterPoint Energy from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. Weiss Ratings restated a “buy (b)” rating on shares of CenterPoint Energy in a research report on Friday, September 11th. Mizuho set a $43.00 price target on CenterPoint Energy in a research note on Wednesday. Morgan Stanley increased their price target on CenterPoint Energy from $38.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Finally, TD Cowen initiated coverage on CenterPoint Energy in a research report on Thursday, October 22nd. They set a “buy” rating and a $47.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, CenterPoint Energy presently has an average rating of “Moderate Buy” and an average price target of $44.29.
Get Our Latest Report on CenterPoint Energy
CenterPoint Energy Stock Up 1.4%
The company has a market cap of $27.79 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.72 and a beta of 0.47. The firm’s fifty day simple moving average is $39.07 and its 200 day simple moving average is $41.49. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.95.
CenterPoint Energy (NYSE:CNP – Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the firm earned $0.50 earnings per share. Sell-side analysts predict that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current year.
CenterPoint Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.96 annualized dividend and a dividend yield of 2.3%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 56.47%.
Institutional Investors Weigh In On CenterPoint Energy
A number of hedge funds have recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. acquired a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $27,000. MidFirst Bank acquired a new stake in CenterPoint Energy in the 2nd quarter worth approximately $38,000. Rexford Capital Inc. acquired a new position in CenterPoint Energy in the 1st quarter valued at $39,000. Transamerica Financial Advisors LLC bought a new position in shares of CenterPoint Energy in the second quarter worth about $40,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in shares of CenterPoint Energy in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 91.77% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.
The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.
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