KeyCorp Trims CenterPoint Energy (NYSE:CNP) Target Price to $31.00

CenterPoint Energy (NYSE:CNP) had its price objective cut by KeyCorp from $33.00 to $31.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for CenterPoint Energy’s Q2 2024 earnings at $0.32 EPS, Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.26 EPS and FY2028 earnings at $2.15 EPS.

A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of CenterPoint Energy from $32.00 to $33.00 and gave the company an outperform rating in a research note on Wednesday, June 26th. Morgan Stanley cut shares of CenterPoint Energy from an overweight rating to an equal weight rating and cut their price target for the stock from $30.00 to $29.00 in a research note on Wednesday, July 17th. Scotiabank dropped their target price on CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating for the company in a report on Monday, April 22nd. Finally, StockNews.com lowered CenterPoint Energy from a hold rating to a sell rating in a research note on Saturday, July 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, CenterPoint Energy presently has an average rating of Hold and a consensus target price of $30.60.

CenterPoint Energy Stock Performance

NYSE CNP opened at $28.88 on Monday. The company’s fifty day moving average is $30.08 and its two-hundred day moving average is $28.88. CenterPoint Energy has a 52-week low of $25.42 and a 52-week high of $31.57. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.25 and a quick ratio of 1.06. The firm has a market capitalization of $18.48 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 2.52 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the company posted $0.50 earnings per share. Equities research analysts forecast that CenterPoint Energy will post 1.62 EPS for the current year.

Insiders Place Their Bets

In other news, Director Barry T. Smitherman sold 5,670 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $29.42, for a total transaction of $166,811.40. Following the transaction, the director now directly owns 21,203 shares in the company, valued at $623,792.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On CenterPoint Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CNP. Crewe Advisors LLC bought a new stake in CenterPoint Energy during the 1st quarter worth about $25,000. Global Retirement Partners LLC raised its stake in shares of CenterPoint Energy by 163.7% during the fourth quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock worth $26,000 after buying an additional 555 shares during the last quarter. Olistico Wealth LLC acquired a new position in CenterPoint Energy in the second quarter valued at approximately $33,000. FinTrust Capital Advisors LLC boosted its stake in CenterPoint Energy by 60.3% in the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 452 shares during the last quarter. Finally, Tobam acquired a new stake in CenterPoint Energy during the 1st quarter worth $35,000. Institutional investors own 91.77% of the company’s stock.

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.