CenterPoint Energy, Inc. (NYSE:CNP - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $34.44 and last traded at $34.16, with a volume of 4707396 shares trading hands. The stock had previously closed at $34.29.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on CNP. Scotiabank raised CenterPoint Energy from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the stock from $30.00 to $35.00 in a report on Thursday, December 12th. UBS Group upgraded CenterPoint Energy from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $31.00 to $37.00 in a research note on Tuesday, December 3rd. 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 on the stock. Guggenheim cut shares of CenterPoint Energy from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. Finally, Morgan Stanley reduced 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 report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, CenterPoint Energy presently has a consensus rating of "Hold" and a consensus target price of $31.65.
Check Out Our Latest Stock Report on CenterPoint Energy
CenterPoint Energy Stock Up 1.9 %
The company has a market capitalization of $22.41 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.71 and a beta of 0.95. The firm's 50 day simple moving average is $32.52 and its 200-day simple moving average is $30.50. 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 (NYSE:CNP - Get Free Report) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share (EPS) 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 company had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.46 billion. On average, sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.
CenterPoint Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, February 20th. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.21. CenterPoint Energy's dividend payout ratio (DPR) is currently 55.35%.
Institutional Trading of CenterPoint Energy
A number of institutional investors have recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp acquired a new stake in shares of CenterPoint Energy during the 4th quarter valued at approximately $28,000. Wilmington Savings Fund Society FSB acquired a new position in CenterPoint Energy during the third quarter worth $26,000. Assetmark Inc. raised its holdings in CenterPoint Energy by 657.1% during the fourth quarter. Assetmark Inc. now owns 901 shares of the utilities provider's stock worth $29,000 after purchasing an additional 782 shares during the last quarter. VSM Wealth Advisory LLC acquired a new stake in CenterPoint Energy in the fourth quarter valued at $32,000. Finally, CoreCap Advisors LLC increased its position in shares of CenterPoint Energy by 58.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider's stock valued at $34,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.
About CenterPoint Energy
(
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.
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