CenterPoint Energy (NYSE:CNP)‘s stock had its “hold” rating reaffirmed by investment analysts at Morgan Stanley in a research report issued to clients and investors on Monday, AnalystRatings.com reports. They currently have a $27.00 price target on the utilities provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 6.47% from the company’s current price.
CNP has been the subject of a number of other research reports. Wells Fargo & Co cut their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday. UBS Group cut their target price on shares of CenterPoint Energy from $34.00 to $32.00 and set a “buy” rating for the company in a research report on Friday. Bank of America downgraded shares of CenterPoint Energy from a “buy” rating to a “neutral” rating and set a $27.00 target price for the company. in a research report on Friday. Guggenheim downgraded shares of CenterPoint Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $32.00 to $29.00 in a research report on Friday. Finally, Barclays upgraded shares of CenterPoint Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $33.00 to $31.00 in a research report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $30.07.
Shares of NYSE:CNP traded down $0.12 during mid-day trading on Monday, hitting $25.36. The stock had a trading volume of 113,123 shares, compared to its average volume of 4,749,189. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.83 and a current ratio of 0.99. The company has a market cap of $13.40 billion, a PE ratio of 15.85, a P/E/G ratio of 3.18 and a beta of 0.47. CenterPoint Energy has a 12-month low of $25.09 and a 12-month high of $31.42. The company’s 50 day moving average is $28.88 and its 200-day moving average is $29.01.
In other news, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $27.84, for a total transaction of $194,880.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 21,000 shares of company stock worth $608,440. 0.24% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CNP. Prime Capital Investment Advisors LLC acquired a new position in CenterPoint Energy in the 3rd quarter valued at $27,000. Oppenheimer Asset Management Inc. acquired a new position in CenterPoint Energy in the 3rd quarter valued at $34,000. Advantage Investment Management LLC grew its stake in CenterPoint Energy by 432.7% in the 2nd quarter. Advantage Investment Management LLC now owns 1,598 shares of the utilities provider’s stock valued at $46,000 after buying an additional 1,298 shares during the last quarter. TD Capital Management LLC acquired a new position in CenterPoint Energy in the 2nd quarter valued at $47,000. Finally, Parallel Advisors LLC grew its stake in CenterPoint Energy by 161.8% in the 3rd quarter. Parallel Advisors LLC now owns 1,809 shares of the utilities provider’s stock valued at $55,000 after buying an additional 1,118 shares during the last quarter. Institutional investors own 80.21% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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