Analysts Set CenterPoint Energy, Inc. (NYSE:CNP) PT at $30.09

Shares of CenterPoint Energy, Inc. (NYSE:CNP) have been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.09.

A number of equities analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. BMO Capital Markets reiterated a “market perform” rating and set a $28.00 price target on shares of CenterPoint Energy in a report on Monday, August 26th. JPMorgan Chase & Co. lowered CenterPoint Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $32.00 to $29.00 in a research report on Friday, August 2nd. Scotiabank raised their price objective on CenterPoint Energy from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 29th. Finally, Bank of America assumed coverage on CenterPoint Energy in a report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 target price on the stock.

CenterPoint Energy Stock Performance

CNP opened at $30.85 on Wednesday. The business has a fifty day simple moving average of $29.32 and a 200-day simple moving average of $29.09. The firm has a market cap of $20.11 billion, a PE ratio of 20.43, a P/E/G ratio of 2.64 and a beta of 0.92. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. CenterPoint Energy has a fifty-two week low of $25.41 and a fifty-two week high of $31.57.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the business posted $0.40 EPS. As a group, equities analysts predict that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.21 per share. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, November 21st. This represents a $0.84 annualized dividend and a dividend yield of 2.72%. CenterPoint Energy’s dividend payout ratio is 52.98%.

Hedge Funds Weigh In On CenterPoint Energy

Institutional investors have recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new stake in CenterPoint Energy in the 1st quarter worth approximately $25,000. Rothschild Investment LLC acquired a new stake in shares of CenterPoint Energy in the second quarter worth $33,000. Olistico Wealth LLC bought a new stake in shares of CenterPoint Energy during the 2nd quarter worth $33,000. First Horizon Advisors Inc. boosted its holdings in shares of CenterPoint Energy by 51.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after buying an additional 375 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in CenterPoint Energy in the 2nd quarter valued at $36,000. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.