CenterPoint Energy (NYSE:CNP) Given Hold Rating at Morgan Stanley

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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.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. CenterPoint Energy had a net margin of 6.23% and a return on equity of 14.51%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 24.0% compared to the same quarter last year. On average, equities research analysts predict that CenterPoint Energy will post 1.68 EPS for the current fiscal year.

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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Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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