CenterPoint Energy (NYSE:CNP) Raised to Hold at StockNews.com

StockNews.com upgraded shares of CenterPoint Energy (NYSE:CNP) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

A number of other analysts have also issued reports on CNP. Scotiabank decreased their price target on CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. Morgan Stanley lowered 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 note on Wednesday, July 17th. KeyCorp decreased their price target on CenterPoint Energy from $33.00 to $31.00 and set an overweight rating on the stock in a research note on Monday, July 22nd. Finally, BMO Capital Markets decreased their price target on CenterPoint Energy from $32.00 to $31.00 and set an outperform rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, CenterPoint Energy has an average rating of Hold and a consensus target price of $29.90.

CenterPoint Energy Stock Down 3.8 %

CNP opened at $27.07 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 1.79. The firm has a market cap of $17.38 billion, a P/E ratio of 19.06, a PEG ratio of 2.48 and a beta of 0.92. CenterPoint Energy has a 52 week low of $25.42 and a 52 week high of $31.57. The business’s fifty day simple moving average is $29.89 and its 200 day simple moving average is $28.86.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company earned $0.28 earnings per share. As a group, equities research analysts anticipate that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

Hedge Funds Weigh In On CenterPoint Energy

A number of large investors have recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of CenterPoint Energy during the 1st quarter valued at about $25,000. Global Retirement Partners LLC raised its holdings 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 valued at $26,000 after buying an additional 555 shares during the period. Olistico Wealth LLC purchased a new stake in shares of CenterPoint Energy during the 2nd quarter valued at about $33,000. Rothschild Investment LLC purchased a new stake in shares of CenterPoint Energy during the 2nd quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC raised its holdings 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 valued at $34,000 after buying an additional 452 shares during the period. 91.77% of the stock is currently owned by hedge funds and other 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.