CenterPoint Energy (NYSE:CNP) Price Target Raised to $36.00

CenterPoint Energy (NYSE:CNP) had its target price increased by research analysts at BMO Capital Markets from $35.00 to $36.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 0.65% from the company’s current price.

Other analysts have also issued research reports about the stock. Barclays lifted their price objective on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 27th. Evercore ISI upgraded shares of CenterPoint Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $36.00 to $37.00 in a research note on Tuesday, March 11th. Morgan Stanley dropped their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on shares of CenterPoint Energy from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Finally, Guggenheim lowered shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.50.

CenterPoint Energy Trading Up 0.8 %

NYSE CNP traded up $0.29 during mid-day trading on Monday, hitting $35.77. The company’s stock had a trading volume of 1,211,386 shares, compared to its average volume of 5,175,407. CenterPoint Energy has a 52-week low of $25.41 and a 52-week high of $35.81. The stock’s fifty day simple moving average is $33.03 and its two-hundred day simple moving average is $31.18. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a market capitalization of $23.35 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.46 billion. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. Research analysts expect that CenterPoint Energy will post 1.75 EPS for the current year.

Institutional Investors Weigh In On CenterPoint Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CNP. Atria Investments Inc raised its position in CenterPoint Energy by 77.6% in the third quarter. Atria Investments Inc now owns 22,014 shares of the utilities provider’s stock worth $648,000 after acquiring an additional 9,619 shares in the last quarter. Huntington National Bank raised its position in CenterPoint Energy by 15.2% in the third quarter. Huntington National Bank now owns 4,205 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 556 shares in the last quarter. Metis Global Partners LLC raised its holdings in CenterPoint Energy by 2.4% during the 3rd quarter. Metis Global Partners LLC now owns 20,538 shares of the utilities provider’s stock worth $604,000 after buying an additional 484 shares during the period. OneDigital Investment Advisors LLC raised its holdings in CenterPoint Energy by 7.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,497 shares of the utilities provider’s stock worth $250,000 after buying an additional 590 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in CenterPoint Energy by 10.0% during the 3rd quarter. CIBC Asset Management Inc now owns 94,230 shares of the utilities provider’s stock worth $2,772,000 after buying an additional 8,534 shares during the period. 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.