CenterPoint Energy (NYSE:CNP - Get Free Report) had its price target lifted by Evercore ISI from $37.00 to $41.00 in a report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the utilities provider's stock. Evercore ISI's target price points to a potential upside of 8.35% from the stock's previous close.
A number of other analysts have also commented on CNP. BMO Capital Markets lifted their target price on shares of CenterPoint Energy from $35.00 to $36.00 and gave the stock a "market perform" rating in a report on Monday, March 17th. Scotiabank reaffirmed an "outperform" rating and set a $40.00 price objective (up from $35.00) on shares of CenterPoint Energy in a research note on Friday. Argus raised CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. Jefferies Financial Group started coverage on CenterPoint Energy in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $42.00 price target for the company. Finally, Barclays upgraded shares of CenterPoint Energy from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $30.00 to $37.00 in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, CenterPoint Energy currently has a consensus rating of "Hold" and a consensus price target of $35.79.
Check Out Our Latest Analysis on CNP
CenterPoint Energy Price Performance
Shares of CenterPoint Energy stock traded down $0.35 during trading on Monday, reaching $37.84. The company's stock had a trading volume of 338,208 shares, compared to its average volume of 5,159,260. The stock has a 50-day moving average price of $35.63 and a two-hundred day moving average price of $32.93. The stock has a market capitalization of $24.70 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.91. CenterPoint Energy has a one year low of $25.41 and a one year high of $38.33.
CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.73 billion. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. As a group, sell-side analysts anticipate that CenterPoint Energy will post 1.75 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its holdings in CenterPoint Energy by 2.9% in the 4th quarter. HighTower Advisors LLC now owns 80,577 shares of the utilities provider's stock valued at $2,557,000 after purchasing an additional 2,283 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in CenterPoint Energy by 3.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,484,528 shares of the utilities provider's stock worth $47,104,000 after acquiring an additional 42,578 shares during the period. Custom Index Systems LLC acquired a new stake in shares of CenterPoint Energy during the 4th quarter worth $265,000. Atria Investments Inc increased its position in shares of CenterPoint Energy by 57.1% in the fourth quarter. Atria Investments Inc now owns 34,577 shares of the utilities provider's stock worth $1,097,000 after purchasing an additional 12,563 shares during the period. Finally, Principal Financial Group Inc. lifted its position in CenterPoint Energy by 7.1% during the third quarter. Principal Financial Group Inc. now owns 847,366 shares of the utilities provider's stock worth $24,930,000 after purchasing an additional 56,037 shares during the period. 91.77% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider CenterPoint Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CenterPoint Energy wasn't on the list.
While CenterPoint Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
