CenterPoint Energy (NYSE:CNP) PT Lowered to $32.00

CenterPoint Energy (NYSE:CNP) had its target price reduced by BMO Capital Markets from $33.00 to $32.00 in a research note issued to investors on Tuesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.

CNP has been the topic of a number of other research reports. KeyCorp cut their target price on CenterPoint Energy from $33.00 to $31.00 and set an overweight rating on the stock in a research report on Monday, July 22nd. Scotiabank cut their target price on CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. StockNews.com cut CenterPoint Energy from a hold rating to a sell rating in a research report on Saturday, July 20th. Finally, Morgan Stanley cut CenterPoint Energy from an overweight rating to an equal weight rating and cut their target price for the stock from $30.00 to $29.00 in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of Hold and an average target price of $30.60.

CenterPoint Energy Trading Up 1.7 %

NYSE:CNP opened at $29.36 on Tuesday. The firm has a market cap of $18.78 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.55 and a beta of 0.92. The stock has a fifty day moving average price of $30.07 and a 200 day moving average price of $28.88. CenterPoint Energy has a 12-month low of $25.42 and a 12-month high of $31.57. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.82 billion. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. During the same period in the previous year, the business earned $0.50 EPS. Sell-side analysts anticipate that CenterPoint Energy will post 1.62 earnings per share for the current fiscal year.

Insider Activity at CenterPoint Energy

In other CenterPoint Energy news, Director Barry T. Smitherman sold 5,670 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $29.42, for a total transaction of $166,811.40. Following the transaction, the director now owns 21,203 shares in the company, valued at approximately $623,792.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CenterPoint Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new position in CenterPoint Energy during the 1st quarter worth approximately $25,000. Global Retirement Partners LLC boosted its stake in shares of CenterPoint Energy by 163.7% during the 4th quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 555 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of CenterPoint Energy during the 2nd quarter worth approximately $33,000. FinTrust Capital Advisors LLC boosted its stake in shares of CenterPoint Energy by 60.3% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 452 shares in the last quarter. Finally, Tobam purchased a new stake in shares of CenterPoint Energy during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds 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.