CenterPoint Energy (NYSE:CNP) PT Lowered to $31.00

CenterPoint Energy (NYSE:CNP) had its price target cut by research analysts at BMO Capital Markets from $32.00 to $31.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 10.99% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley cut shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $30.00 to $29.00 in a research report on Wednesday, July 17th. KeyCorp decreased their price target on shares of CenterPoint Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. StockNews.com cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Finally, Scotiabank decreased their price target on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.50.

CenterPoint Energy Trading Down 2.0 %

Shares of CNP stock traded down $0.58 on Wednesday, reaching $27.93. 1,782,473 shares of the stock were exchanged, compared to its average volume of 4,737,624. The stock has a market cap of $17.87 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 2.57 and a beta of 0.92. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 1.81. The firm has a 50 day moving average of $30.01 and a two-hundred day moving average of $28.88. CenterPoint Energy has a 1-year low of $25.42 and a 1-year high of $31.57.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm posted $0.28 EPS. On average, research analysts anticipate that CenterPoint Energy will post 1.62 EPS for the current year.

Insider Buying and Selling at CenterPoint Energy

In other news, Director Barry T. Smitherman sold 5,670 shares of the stock in a transaction dated 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 owns 21,203 shares of the company’s stock, valued at $623,792.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CenterPoint Energy

Large investors have recently modified their holdings of the stock. Crewe Advisors LLC bought a new position in shares of CenterPoint Energy during the first quarter worth about $25,000. Global Retirement Partners LLC lifted its position 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 purchasing an additional 555 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of CenterPoint Energy during the second quarter worth about $33,000. Rothschild Investment LLC bought a new position in shares of CenterPoint Energy during the second quarter worth about $33,000. Finally, FinTrust Capital Advisors LLC raised its stake in CenterPoint Energy by 60.3% during the first 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 during the period. 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.