CenterPoint Energy, Inc. (NYSE:CNP - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $32.00 to $34.00. Morgan Stanley currently has an equal weight rating on the stock. CenterPoint Energy traded as high as $35.79 and last traded at $35.78, with a volume of 312892 shares changing hands. The stock had previously closed at $35.48.
A number of other equities analysts have also recently commented on CNP. LADENBURG THALM/SH SH assumed coverage on shares of CenterPoint Energy in a research note on Thursday, December 12th. They issued a "buy" rating and a $34.50 price target for the company. Guggenheim lowered shares of CenterPoint Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Evercore ISI raised CenterPoint Energy from an "in-line" rating to an "outperform" rating and increased their target price for the company from $36.00 to $37.00 in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lifted their price target on CenterPoint Energy from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 11th. Finally, Scotiabank upgraded CenterPoint Energy from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the company from $30.00 to $35.00 in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $33.77.
Check Out Our Latest Report on CenterPoint Energy
Hedge Funds Weigh In On CenterPoint Energy
A number of large investors have recently bought and sold shares of CNP. OneDigital Investment Advisors LLC grew its holdings in shares of CenterPoint Energy by 7.5% in the third quarter. OneDigital Investment Advisors LLC now owns 8,497 shares of the utilities provider's stock worth $250,000 after purchasing an additional 590 shares during the last quarter. Empowered Funds LLC grew its holdings in CenterPoint Energy by 8.3% in the 3rd quarter. Empowered Funds LLC now owns 10,585 shares of the utilities provider's stock worth $311,000 after acquiring an additional 809 shares during the last quarter. Quest Partners LLC grew its holdings in CenterPoint Energy by 3,469,900.0% in the 3rd quarter. Quest Partners LLC now owns 34,700 shares of the utilities provider's stock worth $1,021,000 after acquiring an additional 34,699 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of CenterPoint Energy during the third quarter valued at about $705,000. Finally, Prospera Private Wealth LLC bought a new position in shares of CenterPoint Energy during the third quarter valued at about $143,000. 91.77% of the stock is owned by hedge funds and other institutional investors.
CenterPoint Energy Trading Down 0.5 %
The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $23.34 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The stock's fifty day moving average price is $33.40 and its two-hundred day moving average price is $31.36.
CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.46 billion. Sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.
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.
See Also
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
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
