CenterPoint Energy’s (CNP) Hold Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada reissued their hold rating on shares of CenterPoint Energy, Inc. (NYSE:CNP) in a report published on Monday morning. The firm currently has a $29.00 price target on the utilities provider’s stock.
CNP has been the subject of several other research reports. BidaskClub lowered shares of CenterPoint Energy from a buy rating to a hold rating in a report on Tuesday, June 13th. J P Morgan Chase & Co started coverage on shares of CenterPoint Energy in a report on Thursday, June 29th. They set a neutral rating and a $29.00 price target for the company. Zacks Investment Research lowered shares of CenterPoint Energy from a buy rating to a hold rating in a research note on Thursday, June 15th. Finally, Credit Suisse Group upgraded shares of CenterPoint Energy from an underperform rating to a neutral rating and lifted their price objective for the company from $28.82 to $29.00 in a research note on Monday, August 14th. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. CenterPoint Energy currently has an average rating of Hold and an average target price of $27.89.
CenterPoint Energy (CNP) opened at 29.94 on Monday. The firm has a market cap of $12.90 billion, a PE ratio of 21.39 and a beta of 0.63. The stock has a 50 day moving average of $29.12 and a 200 day moving average of $28.20. CenterPoint Energy has a 12-month low of $21.83 and a 12-month high of $30.45.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the business earned $0.17 EPS. The company’s revenue was up 36.1% compared to the same quarter last year. On average, equities research analysts anticipate that CenterPoint Energy will post $1.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th were paid a $0.2675 dividend. The ex-dividend date was Monday, August 14th. This represents a $1.07 annualized dividend and a dividend yield of 3.57%. CenterPoint Energy’s dividend payout ratio is currently 76.98%.
In other news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $28.23, for a total value of $28,230.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 3,000 shares of company stock valued at $85,500 in the last quarter. 0.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its position in CenterPoint Energy by 0.4% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 9,431 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 33 shares during the period. Carnegie Capital Asset Management LLC grew its position in CenterPoint Energy by 0.3% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 12,513 shares of the utilities provider’s stock valued at $353,000 after purchasing an additional 39 shares during the period. Cleararc Capital Inc. grew its position in CenterPoint Energy by 0.8% in the 1st quarter. Cleararc Capital Inc. now owns 10,542 shares of the utilities provider’s stock valued at $291,000 after purchasing an additional 84 shares during the period. Paradigm Asset Management Co. LLC grew its position in CenterPoint Energy by 2.2% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 100 shares during the period. Finally, Advantus Capital Management Inc grew its position in CenterPoint Energy by 0.3% in the 1st quarter. Advantus Capital Management Inc now owns 43,232 shares of the utilities provider’s stock valued at $1,192,000 after purchasing an additional 119 shares during the period. 76.89% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
Receive News & Ratings for CenterPoint Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.