SunTrust Banks set a $28.00 price objective on CenterPoint Energy (NYSE:CNP) in a report published on Friday morning. The brokerage currently has a hold rating on the utilities provider’s stock. SunTrust Banks also issued estimates for CenterPoint Energy’s Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $1.55 EPS, Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.40 EPS and FY2019 earnings at $1.64 EPS.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of CenterPoint Energy from a hold rating to a buy rating and set a $30.00 price target on the stock in a research report on Wednesday, February 14th. Guggenheim cut shares of CenterPoint Energy from a buy rating to a neutral rating in a research report on Monday, December 4th. They noted that the move was a valuation call. Finally, Citigroup increased their price target on shares of CenterPoint Energy from $27.00 to $30.00 and gave the stock a neutral rating in a research report on Monday, November 20th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $29.10.
CenterPoint Energy (NYSE:CNP) opened at $27.79 on Friday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.98 and a current ratio of 1.11. CenterPoint Energy has a 12-month low of $25.51 and a 12-month high of $30.45. The company has a market cap of $11,980.00, a PE ratio of 17.70, a PEG ratio of 3.03 and a beta of 0.56.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.11 dividend on an annualized basis and a yield of 3.99%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s dividend payout ratio (DPR) is currently 70.70%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $27.91, for a total value of $27,910.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 3,000 shares of company stock worth $85,410 in the last three months. 0.20% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in CNP. Dimensional Fund Advisors LP increased its stake in shares of CenterPoint Energy by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,027,759 shares of the utilities provider’s stock valued at $28,141,000 after purchasing an additional 10,373 shares during the period. Shell Asset Management Co. increased its stake in shares of CenterPoint Energy by 196.2% in the third quarter. Shell Asset Management Co. now owns 61,861 shares of the utilities provider’s stock valued at $1,514,000 after purchasing an additional 40,976 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of CenterPoint Energy in the third quarter valued at approximately $558,000. BB&T Corp acquired a new stake in shares of CenterPoint Energy in the third quarter valued at approximately $3,080,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of CenterPoint Energy in the third quarter valued at approximately $695,000. Institutional investors own 76.52% of the company’s stock.
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About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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